ActForex does not trade or make markets, said Sorokin, but provides a white-label trading system which can have clients up and running in a relatively short time.

"We spent three years developing the system, and can provide functionality that would take a company a long time and a lot of money to produce," he told FX Week. "If a firm wants to expand into FX trading quickly, we can provide a turnkey solution.

"We provide the trading platform and host the system at a relatively low cost for organisations," he added.

Although Sorokin declined to name any of the firm's clients, he said they ranged from individual traders who want to set up their own dealing room, to small- to medium-sized banks looking for a white-label trading system.

The firm is not affected by the recent change in regulations governing retail FX trading in the US from the Commodity Futures Trading Commission (CFTC), said Sorokin, because it does not trade itself. "We spoke with the CFTC and because we are a platform provider we don't need to register," he said. "It hasn't really affected how we deal with the market-place as we have a lot of interest in Asia-Pacific and the Middle East."

He added that if anything, the CFTC regulations have helped ActForex's cause. "It has given what was something of a grey market more credibility," he told FX Week.

The retail FX market has experienced some difficult times recently. Matchbook FX, one of the first firms to offer retail foreign exchange trading, closed recently, and some insiders have told FX Week that the initial interest in forex day-trading has subsided.

Sorokin disagreed: "I think the market is growing. Equity day-trading took off when brokerages realised they could make daily commissions from day traders as opposed to those taking long views. FX is the ultimate day-trading market, and that is where we are headed," he said.

ActForex, Inc. is a software company, specializing in automation of Internet currency trading. Its proprietary state of the art ActForex System provides real-time user-friendly trading environment for dealers, brokers and traders. The System is equally suitable for beginners and professionals alike. ActForex, Inc. acts as an Application Service Provider (ASP) thus offering highest level of service and reliability as well as low entry cost into the currency trading market.