Exclusive: Active DXtrade SaaS Accounts Tripled in 2024 to 1 Million

Devexperts revealed to Finance Magnates that the number of active accounts on its DXtrade SaaS platform reached approximately 1 million in 2024, three times the previous year's total. However, this figure does not include the final numbers for December.

Accounts on DXtrade SaaS indicate the platform’s usage by traders with contracts for differences (CFD) brokers and prop trading platforms. It excludes Devexperts’ enterprise clients, which the company describes as its “core business,” accounting for over 20 million accounts.

Capturing the Trading Markets

“While some of our competitors have, in the past, held a dominant share of the market, the strength of DXtrade as a product and the flexibility we offer our clients have allowed us to grow organically as demand has naturally increased,” said Jon Light, Head of OTC Platform at Devexperts, in an interview with Finance Magnates.

“In the past year, the trend towards prop trading has also significantly contributed to this growth,” he explained.

Last March, the company announced that it had signed and launched a dozen prop trading firms within five days. By mid-August, this number had exceeded 40. The sharp increase in demand followed the crackdown on MetaQuotes, which forced prop trading firms to stop providing services to US-based traders on MetaTrader platforms. As many firms were reliant on MetaTrader, they had to adopt a new platform quickly.

“Although there have been challenges—such as executing overnight migrations—we have managed to overcome them and achieve our primary goal of delivering positive results for our clients,” Light explained. He added that the company now employs a global team of more than 800 engineers and is well-prepared to handle growing demand for its product.

However, the exact number of brokers and prop trading firms using the DXtrade platform remains unknown.

Enhancing Offerings

Meanwhile, Devexperts has been expanding its offerings by adding new features. In 2025, the company plans to focus on developing a cash equities solution for its platform.

“Our future strategy is to continue driving growth, adapting to market demands, and making necessary improvements,” Light said.

Recently, Devexperts announced plans to open a Dubai office in mid-2025 to meet increasing demand for trading and financial software solutions in the Middle East and North Africa (MENA) region.