FXOpen’s TickTrader stands out as brokers address differentiation

Rick Steves

“Adding TickTrader to our suite of platforms means our clients can enjoy a completely customizable trading experience with more than 1200 advanced trading tools at their disposal, offering sophisticated data analysis for their trading strategies” – Natalia Zakharova, Head of Business Development of FXOpen.

The Forex industry as we know it has grown its electronic trading apparatus since 1996, the year of the first generation of forex online trading platforms.

From basic programs downloaded to computers, FX trading platforms developed user-friendly interfaces, charting, and technical analysis tools. In time, FX trading moved to web-based platforms and then mobile devices, and adopted social trading and automated trading.

Forex brokers usually boast more than one trading platform available for customers. MetaQuotes’ MetaTrader 4 and MetaTrader 5, Spotware Systems’ cTrader, NinjaTrader, and TradeStation, are among the most popular platforms in the market.

Many brokers look to include some of these into their offering to increase their chances of onboarding traders already familiar with said software.

The same reasoning can be used to perceive this strategy as a threat to long-term client retention. For whatever motive, any trading may leave for another broker at any time as there is no real differentiation when it comes to the trading experience. Easy come easy go.

Given the high CPA costs that exist today, many brokers cannot afford the risk of converting clients only to see them leaving in a heartbeat, as such low client lifetime value can push smaller brokers out of business.

As the industry takes stock of the situation, some brokers have completely stopped offering MT4, such as Saxo in 2018 which chose to go head-on with its proprietary platform SaxoTraderGo.

Other leading brokers have taken a milder approach by still making popular platforms available but offering clients a chance to go deeper and fully embrace a tailor-made experience.

This is the case of FXOpen, which maintains its popular MT4 and MT5 offering and launched TickTrader in June 2020.

Developed by Soft-FX, the platform provides a high level of customization, the true depth of market, quality liquidity, and trade execution, with each tool being designed with FXOpen’s customers in mind.

FinanceFeeds spoke to Natalia Zakharova, Head of Business Development of FXOpen, as the first anniversary of TickTrader is fast approaching: “FXOpen continues to demonstrate our commitment to providing the latest technological advances and opportunities for successful trading.

“Adding TickTrader to our suite of platforms means our clients can enjoy a completely customizable trading experience with more than 1200 advanced trading tools at their disposal, offering sophisticated data analysis for their trading strategies.”

TickTrader was designed to ensure FXOpen’s customers would have access to a trading experience that enables them to go about their trading routine with calm and confidence, safe in the knowledge that competent technical support is available at all times.

Trading is offered directly through the platform or via a FIX, REST, or WebSocket API, with fully transparent Level 2 pricing and advanced order types (IoC, Iceberg, Hidden, Stop-Limit, Slippage Control).

TickTrader features Algo-Studio, which allows advanced users to automate their trading routine with EAs. Its main functions include backtesting with algorithmic trading systems optimization function and customized technical indicators and trading systems development.

Users still attached to MetaTrader might change their mind on account of TickTrader’s better access to popular order types, including slippage control for market orders and stop orders, IOC, stop-limit, hidden, iceberg, which are not available on neither MT4 nor MT5.

TickTrader also boasts a FIX API, REST API, and WebSockets API, unavailable on the MetaTrader, as well as Trading Terminals’ server-side alerts.

The platform fits every type of trader, from beginner to institutional. That is the experience FXOpen has acquired throughout nearly one year with TickTrader on its offering.

 

 

 

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