What are the main ways that trading platforms are different?

When looking for a new Forex broker or reevaluating your present broker, it is essential to have a solid understanding of the process by which rates are established. The best brokers base their prices on information obtained from outside sources, such as quotes provided by third parties and information provided by liquidity providers (LPs).
Trading platforms include real-time price streaming into their operations. This is an essential component in getting spreads back down to more reasonable levels. Forex brokers have access to a broad pool of liquidity providers from which they can make their selection. These vendors compete with one another in the hope of being the forex broker’s hedging counterparty. In addition to this, they give you the leverage you require in order to successfully negotiate for cheaper pricing .
A pricing model used by a forex broker will normally display both the best bid price and the best ask price for a certain currency pair. Prices or “price quotations” are terms that are occasionally used to refer to them, and they can vary depending on the trading profile of the consumer.
It is a common occurrence for two traders to view different quotes simultaneously. The pricing engine of a broker will select the optimal bid and ask prices based on a combination of information gathered from internal and external sources.
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The “best” bid and ask price will be affected by the liquidity of the underlying market. These prices are compiled by something called a “pricing engine,” and they are then sent to trading platforms. The price that is one or two pip(s) lower than the actual market price will frequently be the price at which the highest possible bid and ask can be obtained. Having said that, this does not necessarily suggest that the pricing quotes provided by a broker are accurate.
Forex brokers are required to provide clients with real-time access to the market’s best bid and ask pricing. In addition to this, companies are required to provide a justification for any price disparities in comparison to the market price.

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