ActForex one of the largest independent forex platform software providers has just released its FXApps store. FXApps store operates in a similar way to Apple’s App Store and can be accessed from ActForex’s platform. I caught up with Ilya Sorokin – ActForex’s CEO:
Q. I see it’s only free apps now, what about commercial apps when will they become available and what is the business model for providers, users and ActForex?
A. We expect to see paid apps appear on the FXApps store within a couple of weeks. Developers can submit these apps, and after the content is reviewed and approved they will become available on the store’s catalog. The business model implemented here is profit sharing. The application provider specifies what the cost per download of their application should be, each download will generate funds for the provider, and a percentage for ActForex as well as the FX Broker.
Q. Are the apps available from the website or from within the platform, or both?
These applications are available from ActTrader, are fully integrated and are immediately available once downloaded. In the future we may expand functionality to our other platforms, such as ActPhone, ActPad, and ActDroid.
Q. What is the benefit to brokers from such a feature?
These applications bring a unique opportunity to both traders and brokers. Traders will have interesting new features to explore, utilize, and ultimately incorporate into their trading. Essentially FXApps will present additional set of tools for ActTrader users. With many apps to choose from we expect trader activity, and subsequently trader volumes to increase with the introduction of FXApps. There will also be a profit sharing model in place which will generate funds for FX Brokers based on downloads of paid applications.
Q. How can future providers develop those apps? Is there a special language or API?
Providers can create new strategy and indicator Applications using ActFX, our proprietary scripting language.
FXApps can host web-content based applications such as streaming news, educational and analytical resources, and other premium content such as Forex Magnates.
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Lastly, providers can utilize ActForex’s ActTrader API to create applications which interact with core trading functionality such as charts, signals, etc…
5. What’s next on Act’s development roadmap?
ActForex’s success has always been directly correlated to our ability to remain innovative and ahead of the market trends. We plan to continue on this path with exciting new features such as further expansion of Visual Algorithmic Trading, our most recent and highly popular innovation which has enabled traders to create algorithmic strategies without the need to write any code or script.
We continue to enhance ActBinary – our fully integrated version of Binary Options. This very easy to understand trading method eliminates the need for in-depth knowledge, charts, strategies, and expertise. By being totally integrated into Actforex trading platforms ActBinary is unique in the industry by allowing traders to use the same trading account they use to trade other instruments, apply binary options to variety of instruments not just Forex, and near-time availability on all mobile devices.
ActForex continues to develop and expand its STP module for seamless integration with multiple liquidity providers. Currently, through its liquidity partners, ActForex provides access to over 20 Tier1 banks and financial institutions.
As always ActForex is putting an emphasis on expanding dealers functionality within ActDealer by enhancing usability, adding new features, and advancing risk management capabilities.
ActForex, the leading provider of independent retail trading platforms, announced today the opening of FXApps™, a new app store created specifically for traders. Through FXApps, traders will have an entire support system for the industry-leading ActTrader platform, which will integrate trading strategies, streaming news access and economic calendars, trading signals, educational and training apps, analytical tools and even social networking apps.
All apps will be designed to work within the ActTrader platform without needing third-party websites or add-ons and everything will be accessible from all ActForex mobile applications as well, such as ActPhone, ActPad and ActDroid. Hundreds of third party applications are already integrated with the ActForex trading platform through its very extensive API infrastructure. Migrating these applications to the FXApps platform will provide ActForex users with easy accessibility to third party products.
Initially FXApps will feature dozens of no cost trading strategies, which allows traders to download, test, and implement them into their trading activity. Some of these apps employ traditional strategies such as MADC and CCI, while others are less conventional such as Candle A, Elder-rays, and Trix. To further align with a trader’s individual strategies, the user can modify all apps by changing the application’s parameters via the included strategy editor.
“We’re very excited to be the first to provide hundreds of thousands of active ActTrader users with these very high quality applications and we’re adding more everyday,” said ActForex COO, Igor Litinsky. “FXApps goes far beyond just providing trading strategies by incorporating every nuance of a trader’s need for quality information and resources. We’re working with a number of third-party providers to ensure expertise in every field, trader choices, and educational opportunity.”
FXApps will not be limited to only Forex but will also incorporate apps for other financial instruments available in the ActTrader platform such as Futures CFDs, Equity CFDs, Currency options, ETFs, and Forwards. Every app will be accessible to any registered trader from within the ActTrader platform. A comprehensive search feature will make it easy for traders to quickly find useful apps by using keywords or selecting categories. To preview FXApps visit the ActForex website at www.actforex.com.