Spotware Systems has announced the latest batch of features that it is adding to the company’s straight through processing (STP) focused platform cTrader. All of the features discussed below are included in the September update which the company has rolled out to clients.
A brand new functionality for the cTrader trading platform is the ability for traders to select which side of the price is triggering their stop order. The feature has been added to address volatile markets when STP spreads widen and can result in the execution of some stop orders that are unfavorable for the clients.
Bid/Ask or Second Consecutive Price
Starting from September, an advanced option in cTrader grants the client the ability to choose on which side of the trade does he/she want to execute the orders. Traders have the ability to choose between four available options – Trade Side which is the default, the Opposite Side, Double Trade Side or Double Opposite Side.
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The feature is not dependent on the trade direction and allows clients to choose between the bid price, the ask price or the second consecutive bid or ask price. The feature can be activated before creating an order or can be applied to an existing order (including stop loss orders) or an open position.
Commenting on the feature, the Head of Business Development of Spotware Systems, James Glyde, said: “We are very pleased to bring this feature into cTrader which provides traders with the option to protect their positions from price spikes from LPs by choosing to have their order triggered by the second consecutive price.”
“Traders can also protect themselves from gaps in the spread during times of volatility by configuring the opposite trade side to trigger the closing of the position, or opening of the position. This feature can be used for certain strategies but more importantly to protect traders from harmful conditions which can exist in an STP environment,” he elaborated.
Custom Keyboard Shortcuts and Watchlists
Spotware has also added a new custom keyboard shortcuts configuration which is allowing traders to tailor the keyboard keys to accommodate their trading habits best.
Traders that use cTrader with a cTrader ID will be able to get access to multiple watchlists via the cloud. The lists can be detached into windows and be sorted into groups. Last month, the company pioneered FIX API access for retail traders, a feature which could prove to be very useful for some traders by reducing their costs.