You read first in my Linkedin group couple of weeks ago and today FxPro have publicly announced that it launched an ECN trading platform called cTrader. cTrader is a new platform by a company based in Cyprus and potentially with some help from FxPro. I wasn’t able to gather much detail about this yet. xTrader joins several of FxPro’s platforms such as the usual MT4 and webtrader as well as multiple mobile platforms.
I’m not very sure how the market will accept another forex trading platform. It is already saturated with many similar offerings and while an ECN forex platform may be of interest to some the abundance of MT4/Mt5 bridges allows just about anyone to offer a STP or ECN MT4, so why bother with another platform and backoffice if MT4 is so popular with traders? Spreading the word around and getting clients will require a significant ($$$) marketing effort from xTrader as two years ago it may have been much easier for them to sell this platform, but it’s a different market now.
FxPro Financial Services Ltd (FxPro), a leading global broker in FX today announces the launch of FxPro cTrader – a unique and easy-to-use ECN solution.
FxPro cTrader is an innovative Electronic Communication Network (ECN) platform, designed specifically for FX trading. Harnessing ECN speed, multi-bank liquidity and functionality, FxPro cTrader is a powerful and user-friendly trading platform that utilises proven technology to enable FxPro’s clients to trade at a higher level.
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FxPro brings together a number of global banks as its liquidity providers and trusted software service partners to provide traders with access to an ECN with deep liquidity on more than 20 currency pairs.
Some of the key features of FxPro cTrader are:
- No dealing desk function – FxPro cTrader does not require the operation of a dealing desk, allowing fully automated order acceptance, routing, and execution and reporting
- No re-quotes and guaranteed execution – FxPro cTrader provides traders with guaranteed execution and no re-quotes as long as there is depth available in the market
- Interbank pricing – FxPro cTrader brings together streaming prices from multiple global banks that, when combined, reduces spreads to interbank levels
- Level II market depth – FxPro cTrader provides true Level II market depth. This allows traders to view in real-time both the best bid and best ask price, and the full depth on each side of the book enabling informed decision making on the size of the book
- Anonymity – All FxPro cTrader clients trade anonymously at all times
Denis Sukhotin, Founder of FxPro commented: “FxPro has launched the cTrader to bring the benefits of a true ECN to the global FX trader. cTrader provides them with a minimum ticket size set at 40,000 of base currency, flexible leverage of up to 100 times coupled with competitive commission rates based on volumes traded. We have taken all the trading features needed by retail and institutional traders and incorporated them into a user friendly trading environment with advanced charting, single click order execution, automated risk management and real time reporting which will allow our clients to reach the next level in FX trading.”
The FxPro cTrader platform can be accessed at: www.fxpro.com