Miami, FL (PRWEB) July 2, 2008
FxSpyder LLC announced today that it has completed tests of the program interface that allows retail foreign exchange (forex) traders the means to trade currencies with a variety of forex dealers using its independent API driven trading platform.
Until recently API (Advanced Program Interface) trading has been pretty much restricted to the institutional trader -- forex dealer, hedge fund, money manager, treasuries, and corporation.
OANDA Corporation is the first forex dealer offering API access to accommodate the platform. According to John Keister, FxSpyder's founder and CEO, a priority was put on building the requisite interface with OANDA because it was important to establish FxSpyder LLC as a truly independent service provider.
"It was important to us that traders understand that FxSpyder is not compensated directly or indirectly by any participating dealer and from our perspective the alliance we have with OANDA makes that point very clear.
"OANDA has never entertained the idea of building its business through introducing brokers who participate in the dealer's profits. Our sole source of support comes from the nominal lease fee traders pay to use the platform and that's paid on a trade-by-trade basis," he said.
FxSypder, a standalone platform application that resides on the trader's (not dealer's) computer, is currently only available to OANDA traders and/or anyone registering for an FxSpyder or OANDA demo account.
About FxSpyder LLC
FxSpyder LLC is a Miami, FL-based software company that has spent three years and invested several million dollars in the development and testing of its propriety foreign exchange trading platform. In addition to spot trading the platform is also designed to facilitate fixed currency options trading and will soon offer plain language autotrading and signal services. By design the platform accommodates both market maker and ECN business models and can be integrated with any broker offering API access . For more information about FxSpyder LLC and its platform, please visit http://fxspyder.com.
OANDA Corporation is a trendsetter in Internet-based currency trading and a globally recognized provider of currency localization and information services. Possessing one of the world's largest and most accurate databases of currency prices, OANDA was the first to offer a broad range of currency exchange-rate information free of charge over the Web in 1995. Today it handles more than a million queries a day. OANDA became an Internet-based business-to-business application service provider (ASP) in 1997 and currently services over 75,000 ASP clients around the world. With its launch of FXTrade in 2001, OANDA was one of the first companies to offer fully automated online currency trading. For more information about OANDA and its services, please visit http://www.oanda.com.
Michael Stumm, CEO
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