Internet is an impersonal part of the forex markets nowadays. Internet-based trading platforms do the task of systematizing customer/order matching. These platforms are responsible for being a direct access point to accumulate pools of liquidity.
There is also a human element in the brokering process. It includes all the people engaged from the instant an order is put to the trading system till it is dealt and matched by a counter party. This category is being handled by the “straight-through-processing” (STP) technology.
Like the prices of a Forex broker’s platform, a lot of inter-bank deals are now being handled electronically by two primary platforms: the Reuters web-based dealing system, and the Icap’s EBS which is short for “electronic brokering system that replace the voice broker once common in the foreign exchange markets. Some online trading platforms are shown below.
