The software developer recently rolled out its first of a kind crypto exchange solution.
Over the past several quarters we have been witnessing a growing number of companies which are having a go at delivering a cryptocurrency exchange solution. The significant technological challenges associated with such products and the unregulated nature of the cryptocurrency market have mostly yielded products which are of questionable value.
Instead of delivering a competitive solution on par with existing crypto exchanges, the product mix is focused on aggressive sales tactics and exorbitant commissions. These have been traditionally associated with binary options brokerages and high-commission unregulated forex trading.
Building a Crypto Exchange the Right Way
Identifying a market gap, Spotware Systems has ventured into the space and committed to building cXchange. The company’s product is an out of the box cryptocurrency exchange. It includes a backend, a matching engine, post-trade surveillance, a frontend, and it can be either be hosted by the developer or by the company purchasing the software.
The software as a service (SaaS) product includes an exchange Trading Platform where the trading environment is displayed in a clear and concise way with market depth, trading deals, charts and fees. However, it is the intuitive user interface at the core of the product that is likely to attract more companies from the foreign exchange and CFDs trading industry to it.
The clunky and heavy user interfaces used by traditional cryptocurrency exchanges are nowhere close to what Spotware has acquired with its years of experience with cTrader. The trading environment is providing a concise look at orders, open positions, market data, etc.
Demand for crypto trading plateaued in the first quarter of the year and has been in a declining trend since then. Spotware’s cXchange comes right on time for those who missed the previous major wave of the cryptocurrency boom, but are keen to commit resources to be ready for the next leg.
Functionalities for Exchange Operators
The exchange operators also have access to a variety of tools and data. cXchange delivers a back office where the exchange can manage the trading environment, do post-trade surveillance, and have a glimpse at trading orders. Different groups of customers that pay different commissions are available alongside one of the notable perks of cTrader, which is a referral program.
Exchange operators will have to negotiate Liquidity connections on their own. This contrasts with the approach of other providers in the area who tend to clone data from other exchanges. Spotware has instead partnered with a multitude of market makers who are open to collaborating with exchange operators.
Integration over FIX API guarantees the operators access to multiple market makers. The support of the protocol is another perk to traditional financial industry aficionados, who tend to prefer products which are already proven and established.
The product is integrated with a number of wallets, one of those being BitGo. There are no limits on the amount of assets which can be offered via Spotware's crypto exchange
Spotware’s Trading Expertise
The main advantage of Spotware’s cXchange when compared to other crypto exchanges is that from the get go this is a trader-focused product. In contrast to a number of cryptocurrency exchanges out there, where a trader's user experince wasn’t at the core of the product, the case here is different.
The gap in the market which exists between traditional crypto exchanges and traditional financial markets traders is therefore closed. The only element that seems to be missing right now from the market is another cryptocurrency market uptick. For those who are looking to get in on this asset class, looking at Spotware’s product might prove valuable in the long run.
Over the past several quarters we have been witnessing a growing number of companies which are having a go at delivering a cryptocurrency exchange solution. The significant technological challenges associated with such products and the unregulated nature of the cryptocurrency market have mostly yielded products which are of questionable value.
Instead of delivering a competitive solution on par with existing crypto exchanges, the product mix is focused on aggressive sales tactics and exorbitant commissions. These have been traditionally associated with binary options brokerages and high-commission unregulated forex trading.
Building a Crypto Exchange the Right Way
Identifying a market gap, Spotware Systems has ventured into the space and committed to building cXchange. The company’s product is an out of the box cryptocurrency exchange. It includes a backend, a matching engine, post-trade surveillance, a frontend, and it can be either be hosted by the developer or by the company purchasing the software.
The software as a service (SaaS) product includes an exchange Trading Platform where the trading environment is displayed in a clear and concise way with market depth, trading deals, charts and fees. However, it is the intuitive user interface at the core of the product that is likely to attract more companies from the foreign exchange and CFDs trading industry to it.
The clunky and heavy user interfaces used by traditional cryptocurrency exchanges are nowhere close to what Spotware has acquired with its years of experience with cTrader. The trading environment is providing a concise look at orders, open positions, market data, etc.
Demand for crypto trading plateaued in the first quarter of the year and has been in a declining trend since then. Spotware’s cXchange comes right on time for those who missed the previous major wave of the cryptocurrency boom, but are keen to commit resources to be ready for the next leg.
Functionalities for Exchange Operators
The exchange operators also have access to a variety of tools and data. cXchange delivers a back office where the exchange can manage the trading environment, do post-trade surveillance, and have a glimpse at trading orders. Different groups of customers that pay different commissions are available alongside one of the notable perks of cTrader, which is a referral program.
Exchange operators will have to negotiate Liquidity connections on their own. This contrasts with the approach of other providers in the area who tend to clone data from other exchanges. Spotware has instead partnered with a multitude of market makers who are open to collaborating with exchange operators.
Integration over FIX API guarantees the operators access to multiple market makers. The support of the protocol is another perk to traditional financial industry aficionados, who tend to prefer products which are already proven and established.
The product is integrated with a number of wallets, one of those being BitGo. There are no limits on the amount of assets which can be offered via Spotware's crypto exchange
Spotware’s Trading Expertise
The main advantage of Spotware’s cXchange when compared to other crypto exchanges is that from the get go this is a trader-focused product. In contrast to a number of cryptocurrency exchanges out there, where a trader's user experince wasn’t at the core of the product, the case here is different.
The gap in the market which exists between traditional crypto exchanges and traditional financial markets traders is therefore closed. The only element that seems to be missing right now from the market is another cryptocurrency market uptick. For those who are looking to get in on this asset class, looking at Spotware’s product might prove valuable in the long run.
Cheetah Fund Investors Lose $9 Million in Alleged Fraudulent Scheme
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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