Foreign exchange(Forex) trading is the process of trading one currency to another an example of forex trading would be to exchange ZAR - USD or AUD - ZAR. The trading process involves having a buyer and a seller, where the buyer will be the one requesting for the forex and the seller will then place an offer with the hope of making the sale. The method that is used to trade forex is the reverse auction method. This method has a buyer placing a request and sellers responding on the request by placing an offer. Allowing sellers to see what the winning seller is offering to sell the forex results into a competitive environment where sellers are then forced to compete with each other in order to win the sale. Forex trading simply gives buyers the chance to not only purchase forex at a lower cost, but also gives the power to choose when they would want to purchase their forex.
We focus on the Electronic market trading platform for Forex trading using reverse auction on electronic devices.The Electronic Market Trading Platform for Forex trading using reverse auction focuses on the process of changing one currency to another and provides information about the trade market on electronic devices. The online Forex trading platform does not have a centralized location as users can access the trading platform on their mobile phones, computers and other electronic devices as long as they have internet access. In this project we will focus on Forex trading using reverse auction via electronic devices. The users of the online Forex trading platform will be classified into two groups, namely the buyer and seller where the buyer is the one that requests for a specific currency and the seller then responds by sending a detailed offer which includes the value of the product and the commission charged.
The main objective for this project is to provide a platform that will enable buyers to purchase forex at the lowest cost and save time spent traveling in order to purchase forex. The other object would be to discover how computer science algorithms such as Knapsack can be used in the trading process.