Regardless whether we like it or not, the cloud is everywhere. Legacy downloadable products are quickly becoming the dinosaurs of the software industry. They are being replaced with cloud based software that offers an always on and cross platform experience.
Within the world of trading platforms, a similar trend is taking place. The rise of mobile trading on tablets and smartphones has led brokers and technology providers to launch products that allow customers to access market data and their accounts anywhere, and on any device. On this note, two cloud based products servicing end-user clients were released this week.
cTrader Launches Application Cloud
Broadening its cloud based offerings, technology provider Spotware Systems, announced the launch of Application Cloud for its cTrader trading platform. The Application Cloud provides cTrader users the ability to upload platform settings and templates to a cloud based server. The feature allows traders to have continuous access to their customized platform settings regardless of which device they use to access the cTrader platform.
Spotware Systems CEO, Andrey Pavlov stated “Users can connect their broker accounts to a ‘cTrader ID’, using the ID to access cloud features. At this stage, cloud features consist of favorites, a quick way for users to access their most frequently traded currency pairs; and email alerts for trade modifications and account transactions. The App Cloud is an area that we expect to grow hugely – it’s about fluid UX that provides helpful synchronicity across a number of services.”
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In addition, Spotware Systems announced that it is expanding its ‘Proxy Connectivity Cloud’. The product offers cTrader users local IP addresses for low-latency connections. The feature is becoming popular among UK and European brokers that are expanding their businesses to Asian locations. The local connections points provide an added value for traders seeking low latency solutions. (For more information, in the Forex Magnates Q1 Industry Report we took an in-depth look at P2P private networks and how brokers are using them to offer high end connectivity solutions for clients)
Commenting on the Proxy Cloud, Hiroyuki Shimizu, Head of Sales for Spotware in Japan, explained “we also have ultra-quick failover capabilities, so that if any proxy starts having connectivity issues, users are immediately switched to their next closest connection. And there’s extensive use of industry leading content delivery networks to deliver end-user applications that decrease download and update time.”
ChartIQ Launches iPhone App
Following their iPad, Windows 8, and Web based app releases, financial technology startup, ChartIQ, announced this week the release of an iPhone app for their popular charting tool. The iPhone app allows subscribers of ChartIQ’s equity and forex charting tools who are using the product among other devices to access their information for free using the iPhone.
As written about in the past, the product is part of a larger trend among mobile financial products that are meeting demand from traders who want access to market data at all times and from any device.