Tradu: FXCM-sister multi-asset platform taps Crossover’s ECN for crypto offering

Rick Steves

“We believe that our distribution, coupled with CROSSx’s technical prowess, creates one of the most compelling digital asset trading offerings on the market.”

Crossover Markets Group Inc., a digital asset technology firm, has announced its collaboration with Tradu, the upcoming multi-asset “super app” for active traders.

Tradu, part of Stratos Group International just like renowned retail CFD brokerage FXCM, LLC and a subsidiary of Jefferies Financial Group Inc., is set to launch this month for UK residents and in early Q1 2024 for international markets.

Tradu’s crypto flow will be routed through Crossover’s CROSSx ECN

As part of this partnership, Tradu’s cryptocurrency flow will be routed through Crossover’s CROSSx electronic communication network (ECN). CROSSx is designed to offer tailored liquidity, high-speed execution, maximum throughput, and tight spreads, specifically catering to the needs of institutional and intermediary clients. The platform aims to execute spot cryptocurrencies efficiently, aligning with Tradu’s objective to provide institutional pricing to retail traders.

The partnership between Tradu and Crossover is seen as a significant development in the digital asset market, reflecting the rapid maturation of market structure in digital assets. It represents a fusion of traditional finance (TradFi) best practices with modern, 24×7 trading platforms and workflows.

Tradu, headquartered in London, aims to offer comprehensive client support with a global team proficient in over two dozen languages. Stratos, the parent company of Tradu, also operates FXCM, a well-established FX and CFD platform, and plans to offer FXCM services alongside Tradu’s multi-asset platform.

“One of the most compelling digital asset trading offerings on the market”

Brendan Callan, CEO of Tradu, highlighted the app’s aim to streamline multi-asset experiences, including digital assets. “We are thrilled to respond to client demand for streamlined multi-asset experiences—including digital assets—with the launch of Tradu. Assembling the right technology platform for our customers was a key objective and CROSSx is the only crypto execution venue today that delivers the speed and throughput required to help us bring down trading costs. We believe that our distribution, coupled with CROSSx’s technical prowess, creates one of the most compelling digital asset trading offerings on the market.”

Brandon Mulvihill, Co-Founder and CEO of Crossover, described Tradu as a bold and disruptive offering that redefines online trading for retail clients. “Tradu is a bold and disruptive offering that resets the future of online trading for retail clients. On the front end, Tradu provides retail clients the ability to trade multiple asset classes in a seamless fashion, while on the back end, Tradu sources market data, liquidity management and trade execution from the best providers in their respective markets. CROSSx brings unrivaled speed and performance to the table, matching 99% of orders in under 10 microseconds while processing over 1 billion quotes per day. We are honored that Tradu selected CROSSx for its position as the preeminent institutional crypto trading venue, and we look forward to bringing our value proposition to all Tradu clientele.”

Tradu to offer equities, commodities, cryptocurrencies, CFDs, forex, treasuries, and indices

Tradu was first announced at FMLS:23 by chief executive Brendan Callan. Designed for active traders and investors, Tradu offers a range of tradable assets including equities, commodities, cryptocurrencies, CFDs, forex, treasuries, and indices.

Scheduled to launch in the UK in December and globally in the following months, Tradu is a subsidiary of Jefferies Financial Group Inc.

Tradu’s mission is to redefine the trading experience by offering an intuitive, advanced platform accessible through both mobile and web interfaces. It aims to consolidate the trading experience across different asset classes into a single, streamlined portal. In addition to standard trading features, Tradu offers an eWallet with both virtual and physical debit card options, and seamless transfers between trading and eWallet accounts​​​​.

  • Read this next

    Fundamental Analysis

    Global FX Market Summary: EUR, Fed Minutes February 21, 2024

    Hawkish Fed minutes could strengthen USD, dovish BoE hints could boost euro, mixed economic data leaves impact unclear, FOMC minutes release today holds the most weight.

    Digital Assets

    360T launches Crypto NDF offering

    “By launching our crypto offering with non-deliverable derivatives products, we are allowing our diverse, global client base to engage with the crypto market without the need to build or invest in Distributed Ledger Technology (DLT) infrastructure. Looking ahead, we will continue to work with our industry partners to expand 360T’s crypto.”

    Technical Analysis

    FTSE 100 index Technical Analysis Report 20 February, 2024

    The FTSE 100 index is likely to fall to support level 7600.00 after reversing from resistance level 7750.00.

    Retail FX

    Afterprime enhances trade reporting with PrimeXM and TRAction

    “This collaboration has made setting up EMIR and MIFIR reporting for our CySEC entity a breeze, allowing us to maintain our focus on providing best-in-class pricing and top-notch customer service.”

    Market News

    US Market Stocks See a Dip Ahead of FOMC Minutes Announcement

    As the financial world eagerly awaits the release of the Federal Open Market Committee (FOMC) meeting minutes scheduled for today, the S&P 500 index begins trading slightly lower, marking a subtle shift in market sentiment following a prolonged rally.

    Fintech

    Adaptive proves that “the future of finance is in the cloud”

    “While workloads have migrated to the cloud over the past decade, some have doubted whether its latency and fault tolerance can match that of on-premises solutions – our joint testing on Google Cloud, proves that this is the case.”

    Retail FX

    Axi Select offers live trading amid “end of demo account prop firm model”

    “We genuinely empathize with the thousands of talented traders who will now be denied access to their allocated funds, and we encourage anyone using the demo trading registration model to question whether their prop firm partner will be able to continue as an ongoing concern given recent events. Unfortunately, this could be the beginning of the end for the demo account prop firm model.”

    Digital Assets

    Celsius founder Mashinsky agrees to shared lawyers with Sam Bankman-Fried

    Former Celsius CEO Alex Mashinsky has addressed potential conflicts of interest in his legal representation during a brief hearing in a New York courtroom.

    Digital Assets

    Sam Bankman-Fried captured in first jail photo

    Sam Bankman-Fried, the once-billionaire founder of FTX, has been spotted looking quite different with a new beard and a slimmer figure in a photo that’s been making rounds, reportedly taken inside New York’s Metropolitan Detention Centre.

    <