Choosing a discount broker for forex trading is time consuming. As the forex market is not centralized, choosing a discount broker is sort of like picking a stall in a farmer's market. They all offer the same product, but prices, features, quality, and services can vary considerably between fx brokerages. One criteria that I consider seriously is the Application Programming Interface (API) offered by the broker. Most people couldn't care less about API because they never intend to develop their own automated trading program. However, if this is something that interests you, then I'd like to save you some time here with the following table.
[caption id="" align="aligncenter" width="570" caption="Forex brokers API table"][/caption] All the dollar values are in U.S. dollar. I highlighted the important limitation of each API. I have different level of experience with each of these six APIs. As of this writing, I am using JForex from Dukascopy for various personal reasons.