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cTrader – a turnkey Non Dealing Desk platform


Spotware Systems is a financial technology provider that strives to put the interests of traders at the heart of all their product development decision making. e-Forex talks to Ilya Holeu, Managing Director, about cTrader and cAlgo, the company’s DMA, NDD and STP Margin Spot FX platform.


Ilya, why are increasing numbers of retail FX traders looking to choose brokers who offer an agency model of trade execution?


Traders are looking to leave the outdated dealer-desk model behind and transition to a more transparent and fairer agency model of execution. DMA, STP and NDD are quickly replacing the decade old inadequacies currently prevalent in the retail FX space. We’re part of a growing number of companies in FX looking to eradicate the problems of failed entries, constant requotes and slow platforms, in exchange for zero requotes, increased transparency and a removal of the conflict of interest between trader and broker.


Tis alignment of interests liberates traders from the market maker’s suffocating grip on trading conditions. We guarantee no risk of price intervention, no stop-loss hunting and no price injections, and we don’t allow virtual dealers who can manipulate positions by, for example, only permitting negative slippage. Traders have decided they want their orders executed at real market rates, not a closely adjusted reflection designed to decrease broker risk exposure at the cost of a severely damaged trading environment. Tese traders are discovering that there is a realistic alternative to the many frustrations they face every day, and are looking to Direct-Market-Access to significantly improve their trading conditions.


How does cTrader help brokers to meet this demand and deliver an institutional grade DMA and STP trading environment for their clients which is mutually beneficial for both parties?


Spotware’s PaaS (Platform as a Service) solution helps brokers and traders capitalize on high-end


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STP and DMA FX trading. Te platforms (cTrader and cAlgo) are easy to implement and immediately expand the broker’s offering to include an excellent direct-access trading solution which offers both manual and algorithmic trading, on any device or screen size, be it desktop, mobile or resizable browser. Our FIX connectivity, proxy cloud and proprietary protocol ensure ultra-low latency data delivery, deep liquidity and real trader benefits.


What direct operational and business benefits does cTrader offer brokers?


Te agency model we implement is demonstrably more profitable than standard market maker setups – increasing revenue earned per million traded, and decreasing risk exposure faced by an unhealthy dependence on volatile market periods. Te model also delivers more predictable streams of income, with adopting brokers far more able to accurately gauge monthly revenue. We have concentrated on developing a solution with an LTV proposition that improves significantly on existing eFX platforms. Accounts with cTrader also have longer lifespan. Te improved trading conditions and the eradication of the conflict of interest help to lay the foundations for longer term, mutually beneficial relationships that allow brokers to slash expenditure on semi-effective acquisition strategies and concentrate instead on more profitable customer retention strategies. As for cost-control, our Platform as a Service means no outlay on expensive hosting, IT infrastructure, or additional dedicated staff – resulting in a significantly reduced total cost of ownership.


PRODUCT REVIEW


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