New FX trading platform debuts today! FinanceFeeds speaks to Devexperts as platform revolution begins

DXtrade is an off-the-shelf solution with highly configurable client-facing layouts and back office settings that allow brokers to differentiate and minimise operational overheads via automation. We speak to Devexperts about its important place in the FX and CFD sector as the new de facto platform

Today Devexperts announced the launch of DXtrade, their new trading platform for the retail FX and CFD industry under the SaaS model.

DXtrade is an off the shelf trading solution for Forex and CFD brokers with robust risk management and back office applications. Its flexibility in settings allows brokers to achieve their ideal setup in both their trading platform front ends and brokerage operations.

It is rare indeed that a new platform is developed specifically for the FX and CFD industry, especially by a software company that has extensive expertise in designing specialist platforms for banks, hedge funds and financial institutions globally. On this basis, DXtrade has been designed as a trading platform that allows brokers to differentiate themselves from the wider market as all layouts and setups of the platform are determined by the broker.

This high degree of automation and customisation also extends to the back-end configurations where brokers can set up limits, rebates, margins, spreads, and client execution on instruments, group or individual client levels. This allows brokers to create custom offerings for multiple client segments worldwide.

DXtrade also offers several proprietary trading tools designed to enhance the user experience and improve both client acquisition and retention. These built-in tools encompass custom trading journals, dashboards, modern navigation, and more, on a highly intuitive mobile and web UIs.

Conor O’Driscoll, VP of OTC Platform commented publicly: “At Devexperts we have been experts in building custom trading solutions for top brokerage firms for over 18 years and DXtrade is the culmination of such efforts, allowing us to offer our technology to the wider Forex and CFD market. Brokers are currently experiencing a significant rise in the amount of customers and volumes traded on their platforms. As a result, we know how important it is for brokers to differentiate in a highly congested market and we firmly believe that DXtrade is the innovative solution necessary for brokers to take their offering to the next level.”

This morning, at the launch of the new DXtrade platform, FinanceFeeds spoke to Mr O’Driscoll at length, to detail the ethos behind the development of the new FX and CFD platform, and the significant advantages it will bring to the FX and CFD brokerage sector.

We asked Mr O’Driscoll if he believes that retail FX and CFD brokerages should emulate the professional trading sector and either go down the bespoke platform route to own their own intellectual property, or the SaaS route in the way that derivatives and multi-asset platforms do in major professional trading centers like Chicago with companies such as Trading Technologies as a front end, or CBOE Livevol for analytics.

Mr O’Driscoll explained

As a company, we have been keen advocates of brokers going down the bespoke platform route. We have developed a multitude of custom platforms over our 18 years and we will continue to build such platforms for brokers, however what has been very apparent throughout this time is that not all brokers can afford to invest in bespoke platforms. Many are left with very little choice when it comes to the platforms that they can afford to purchase, license or even maintain. It is for this reason that we have introduced DXtrade as a SAAS platform, allowing brokers to rely on the technology and expertise of Devexperts for their platform and it’s maintenance, giving them far greater control and configurability than they would normally receive in the FX/CFD sector.

In terms of differentiation, we asked Mr O’Driscoll how DXtrade will change the mindset of brokerages in terms of providing the ability to differentiate their product range, and end the constant ‘race to the bottom’ associated with lead marketing and churn, and being a de facto white label of MetaQuotes along with over 1200 others offering the same product range to the same inexperienced clients.

He explained “Our goal when developing DXtrade was to alleviate the industry problem of broker differentiation. In our opinion the current brokerage model is becoming outdated and new solutions are required to ensure the industry can continue to grow. We believe that we have delivered a platform that allows brokers a greater level of freedom in terms of branding, layouts and backend setups from what is currently available, so when operating DXtrade, brokers can customise their offerings to different target markets to achieve the levels of differentiation needed to grow at economically sustainable rates.”

The new platform is fully maintained and hosted by Devexperts, and a demo of DXtrade is available here.

FinanceFeeds will report next week in detail on the further development of this new SaaS trading platform.

Read this next

Executive Moves

Lirunex Limited recruits Waleed Salah as head of MENA sales

Maldives-based brokerage firm Lirunex Limited has secured the services of Waleed Salah, who joined the company in the role of its head of sales for the MENA region.

Executive Moves

Trading 212 parts ways with co-founder Borislav Nedialkov

Trading 212 has a void to fill at its FCA-regulated business in London, following the departure of two key players, Raj Somal and Borislav Nedialkov.

Digital Assets

Binance acquires troubled crypto exchange GOPAX

Binance, the world’s largest digital asset trading platform, has reportedly acquired a majority stake in the troubled South Korea-based cryptocurrency exchange GOPAX.

Digital Assets

Kraken exits Middle East, closes UAE office

Digital currency exchange Kraken will close down its operations in Abu Dhabi, UAE and lay off the majority of its team focused on the Middle East and North Africa.

Industry News

CFTC comments on ION Cleared Derivatives issues after Russian-linked hack

“The ongoing issue is impacting some clearing members’ ability to provide the CFTC with timely and accurate data. As this incident unfolded, it became clear that the submission of data that is required by registrants will be delayed until the trading issues are resolved.”

Industry News

FCA took down 14 times more misleading ads in 2022 thanks to technology

The FCA has made significant improvements to the digital tools it uses to find problem firms and misleading adverts. These improvements have enabled it to work through a much larger number of cases compared with 2021.

Executive Moves

HKEX appoints ex-Goldman Sachs Matthew Cheong to lead platform’s focus on derivatives

“He has worked for a number of the world’s leading investment banks and his experience will be invaluable to HKEX as we continue to enhance our derivatives product offerings and build on our innovative and robust platform business, connecting capital with opportunities.”

Digital Assets

Zodia Custody and SBI Digital Asset Holdings launch JV for crypto asset custodian in Japan

“Zodia Custody is both proud and excited to be working with SBI DAH to help set up SBI Zodia Custody; the first tier 1 crypto asset custodian for institutions in Japan.”

Digital Assets

Paxos opens R&D center in Israel to focus on transaction signing and crypto custody security

“Paxos is looking to expand its team in Israel in 2023 and beyond, giving engineers the opportunity to work on cutting-edge financial products and shape the future of the global economy.”