Forex firms adding products to offset slow spot FX trading volumes.
Forex software company FX Bridge has added a new client, US-based Forex broker PFGBest, to its list of clients licensing FX Bridge's Forex Options trading system.
While FX Bridge does offer a full suite of software modules to run a Forex brokerage, most if not all of their sales seem to be selling Forex Options capabilities to retail FX firms such as PFGBest. Other Forex Options clients of FX Bridge include AFX Capital, FXDD, Alpari and Gallant Capital Markets. FX Bridge also signed an agreement with leading Forex software provider Boston Technologies, allowing BT to add Forex Options to its list of products.
Forex brokerage firms such as PFGBest have been facing a drop in client trading volumes over the past few months, leading them to look to add new products beyond spot FX.
For more on the global online trading market see the LeapRate Dow Jones Forex Industry Report.