Spotware Systems, the technology provider behind the cTrader platform has thrown in their opinion into the current developments among MetaQuotes and third party developers with the launch of cMulti. cMulti is a new mirror trading platform that has been developed for cTrader users. The product provides a platform for signal providers to offer their trading signals to cTrader’s client base. Not to be confused with social trading, cMulti allows users to follow trade signals from participating providers.
Ilya Holeu, Head of Sales and Marketing and Spotware Systems explained to Forex Magnates that by utilizing a model that charges customers on a fixed cost per $million traded, it benefits clients. In contrast to systems where a broker may pay signal providers and offer the trades for free to their clients, Holeu said that cMulti will allow traders to discover top performers on their own and “whoever has the cheapest and best performing strategy will benefit the most”. Holeu added that Spotware believes that by providing a mirror trader, rather than social trading offering, it puts the emphasis on trading success and keeps the platform more professional.
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cMulti is expected to be available for brokers this summer and can be integrated to third party offerings using their new API offering; thus allowing other mirror trading products to connect to the signals. The product becomes the latest addition to the cTrader suite of products which are being provided to brokers at no cost. Holeu explained that “there are no additional costs to brokers for any products that we release, that is one of the great things about us. We constantly (bi-weekly) release new additional functionality to pretty much all platforms.”
Other features that Spotware are highlighting include single trade mirroring, risk management customization, and client side identification of mirror versus manual trades. In terms of latency, Spotware stated that “the PaaS delivery system ensures no vulnerability to broker-hosted servers that can cause multi-second delays between signal and execution.”