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In a move to support startup companies in the forex industry, Forex Magnates has recently launched the Startup Directory and Beta Testing under the Directory and Startups sections on its website.

Like its current forex directory, the Startup Directory will give a chance for financial startups, both in and out of the forex industry, to get their company and products featured to a wide audience of market participants.

Meanwhile, the Beta Testing program will give traders a chance to try out new products and companies an opportunity to flush out the bugs from their new releases. Beta subscribers will be emailed information about a product before they decide whether they want to participate or not.

So why was there a need to create such products in the first place? Forex Magnates said that as the forex industry matures, traders are becoming sophisticated and are now demanding new and better products from existing forex participants.

Forex Magnates also noted that as the forex industry keeps expanding, it has also attracted more and more start-ups and companies that are trying to market their solutions to the industry. Several forex companies have jumped on the technological innovation bandwagon in developing new features, particularly those involving mobile networking.

Of course these developments benefit forex traders like you and me as it forces existing forex companies to step up their game and be competitive with their offerings. Start-up products that gather enough support could be acquired by forex brokers if their customers show strong demand for these.

Aside from that, the introduction of more products and features that make trading easier and more accessible could be good for trading volume and industry awareness. To learn more about the Beta Testing program, please visit their page at: