ToolsforBrokers announces crypto spot and futures trading
ToolsforBrokers, the company that specializes in building a variety of tools for FX brokers, has announced the launch of spot and futures trading via its trade processor platform through a partnership with the crypto exchange Binance.
Crypto trading has grown several-fold over the last year or so and it is now one of the most trading instruments set and posing a serious challenge to established markets like the stock and forex markets. T4B has realized this change in the attitude of users and has been trying to bring out several products from the crypto industry so that they can be streamed on to the FX brokers as well and they would be able to continue to grow their business by offering crypto products along with the FX products as well.
The latest offering from them is the ability to trade spots and futures in the crypto field which would give the ability for brokers to add such functionality in their platforms as well through the trade processor. The fact that the feed and clearing come from Binance should enhance the trust behind the product to a great deal and help the brokers in marketing these crypto products to their customers. This would also help the brokers to enhance their crypto offering as Binance has 1000s of tokens listen on its platform and so the brokers are also potentially able to tap on any of these tokens and offer a wide variety of tokens for trading to their clients.
The company had also recently added internal hedging to their trade processor bridge which helped the brokers to throw trades onto their LP if the trade volumes in their brokerage or on specific instruments exceeded certain preset limits. This helps a great deal with risk management and with most of this process being preset and automated, it makes it, even more, easier for the brokers to manage their risk.
T4B has always kept itself abreast of the changes in the market and in the demand from the brokers and the addition of the crypto trading from Binance seems to be one more attempt to offer a product that is in demand right now. The company would expect this new product offering to do well and help to compensate for the lack of trading volume in the FX markets that has been seen of late.