Spotware faces exploding demand for cTrader amid MetaTrader issues with scam brokers
Spotware Systems has announced that its flagship trading platform, cTrader, is facing spiking demand especially from large brokers “as it remains the safest choice in the market”.
The trading software company made no direct remarks in regard to the issues MetaQuotes is facing with the Apple Store, with the iOS versions of MetaTrader 4 and MetaTrader 5 being currently suspended.
The timing of the announcement, however, suggests that brokers are increasingly concerned with the MT4/MT5 as it risks losing customers to competitors boasting alternatives to MetaTrader, such as cTrader.
Apple suspended MT4 and MT5 after a series of complaints from users about FX broker scams using the trading platforms by MetaQuotes, signaling lack of due diligence from the software company as it has been allowing scammers operate with its white label platform.
Spotware’s Trader First approach fights off scam brokers
Spotware is thus reminding brokers that it is known in the industry for fighting malicious brokers, following its Trader First approach. In its more than 12 years of existence, the company kicked out multiple bucket shop brokers as well as brokers accepting US clients.
cTrader was built to protect traders by not allowing any “inject price” function and preventing scam brokers from stop-loss hunting or installing any plugins like “Virtual Dealer”. Also on cTrader, each user’s activity is logged, it’s easy to understand and any trade amendments are recorded and marked separately.” The Head of Technical Support at Spotware,
John Parnaby, Head of Technical Support at Spotware, commented: “cTrader is hosted on Spotware’s infrastructure and only Spotware employees have access to it. Trade receipts with all necessary information about each trade, including but not limited to chronological events, slippage, and Level 2 market snapshot and execution times are stored and cannot be modified, ensuring trading transparency. All the above features make cTrader less appealing to brokers with malicious intentions”.
cTrader is a premium trading platform offered by leading brokers and trusted by millions of traders worldwide. Spotware reiterated it doesn’t engage in trader fraud and prides itself on 100% transparency while providing brokers with a complete solution that raises their brand value by putting them in a category of brokers that can be trusted while simultaneously catering to the needs of all their traders.
The cTrader Suite caters to both retail and professional users, offering numerous trading modes – cTrader Trade, cTrader Copy, cTrader Automate, available on the Web, Desktop, and Mobile devices.
Founded in 2010, Spotware Systems develops products responsive to the changing demands of the business and regulatory landscape while serving the long-term interests of all market participants.
