Finance Magnates recently sat down with Devexperts' Jon Light to know the increased demand from prop trading firms.
“We received more than a thousand platform demo requests over the last weekend.”
Following the recent alleged crackdown of MetaQuotes on prop trading firms, Devexperts’ DXtrade platform has emerged as a winner. Many prop trading firms, big and small, have integrated DXtrade to replace the forceful elimination of MetaTrader platforms.
“We have seen a large increase in inquiries and new clients signing with us. Our deployments are largely automated, and we are a large company with the bandwidth to cater to all our clients' requests,” Jon Light, the Head of OTC Platform at Devexperts, told Finance Magnates, adding that these last few days were “very hectic.”
“Despite our established processes, we were at our capacity and set a few internal records, signing and launching a dozen companies within the last five business days.”
The End of MetaTrader for Prop Trading
The chaos in the prop trading industry started in early February when multiple brokerages, including Purple Trading, Eightcap, and Blackbull Markets, decided to end grey-labeling their MetaTrader licenses to prop trading firms. An executive at Blackbull Markets confirmed to Finance Magnates that the move was forced by MetaQuotes, the developer of two MetaTrader platforms; otherwise, the broker would risk losing its MetaTrader license.
Jon Light, Head of OTC Platform at Devexperts
Although MetaQuotes did not confirm anything officially, the company allegedly did not want the unlicensed prop firms offering MetaTrader platforms to US customers. An unverified email by a MetaQuotes representative showed that the company needs firms to have either FINRA or NFA registrations even for offering MetaQuotes for educational purposes.
The brokerages now offering services to prop trading restricted their services only to non-US customers.
“As a provider that has been the first choice for business-critical software for many years, it would be reasonable to expect MQ to communicate clearly, perhaps through a press conference or an official statement, to set clear expectations,” Light added.
He further highlighted that “the platform providers, not revolving around MQ, were presented with great opportunities.”
Boom for MetaTrader Alternatives
The US was one of the largest markets for many prop trading firms. The sudden alleged crackdown has left them with no choice but to hastily look for alternatives, like DXtrade, cTrader, Match-Trade, and a few more.
“We already had a large number of prop firms using DXtrade and had many more that we were speaking with. In the past few weeks, new inquiries have obviously increased. We are speaking with most firms in the industry as DXtrade is becoming one of the go-to platforms,” Light said.
“We received more than a thousand platform demo requests over the last weekend. I’d say there are tens of qualified leads every week.”
He further pointed out that “prop trading firms are not new to DXtrade” as the company has “a number on-boarded already, and multiple prop-tech-oriented technology partners that have integrated” its trading platform.
“With the large props moving to DXtrade, we are seeing a lot of requests for migrating users from their existing platforms. We don't normally hear this request as brokers normally add DXtrade in parallel, but we are willing to help.”
If you see a firm claiming to have “built” their own trading platform there’s a 99% chance it’s a whitelabel of match trader DX trade or a number of other platform providers
MetaTrader 4 was initially released in 2005, and its interface is now dated based on current standards. MetaQuotes is now pushing brokers to adopt MetaTrader 5, the successor to its original platform.
Now, Devexperts is targeting companies with a “very professional-looking interface.” Light highlighted that DXtrade offers “a performance dashboard, a trading journal, and a super-responsive charting widget.”
“These tools provide a feeling of a professional trading environment, which is desirable for prop firms. We also give companies the ability to add the TradingView charting library so clients can experience TVs charts and interface inside DXtrade. It’s an open platform with multiple options for CRMs and Prop Trade Tech solutions.”
“We have also implemented prop-specific risk parameters directly into the risk engines, such as Max Drawdowns and Target Limits. This means they are checked and instantly acted upon, rather than an external service going through an API.”
The evaluation firm industry is turning to new trading platforms amid ongoing regulatory changes. This is DXtrade! One of the trading platforms that is expected to become more popular in the coming months.
Devexperts’ DXtrade is a “neutral technology provider and does not partake in any trading or investment activities.”
“The responsibility of onboarding and servicing end traders, as well as ensuring regulatory compliance, sits with our clients,” Light added. However, the company thoroughly checks on its prop trading clients.
“DXtrade carries out a detailed KYC, and we have enhanced this process to make sure that we are only onboarding reputable clients. We had recently added more staff onto this team, which is holding personalized training programs for our new clients to help them get up and running very quickly,” he said.
“[The process involves] from receiving the information on everything about the company and spans to our internal screening. Our KYC process was developed and refined throughout our business operations.”
“Outlined in our contract, we emphasize the importance of our clients adhering to all local laws and regulations governing their respective regions; the allocation of responsibility is on them as the broker or other types of market maker. We strongly advise seeking local legal opinion to ensure compliance with proposed business activities.”
“Additionally, our commitment to maintaining a secure and ethical trading environment is unwavering. We reserve the right to promptly suspend and terminate our clients' accounts found engaging in fraudulent activities or in breach of local rules. Furthermore, we actively monitor public regulatory lists to ensure compliance with industry standards.”
The Future of Prop Trading
Prop trading is currently an unregulated industry. The companies do not handle customers’ funds for trading, so the existing brokerage regulations do not apply to them.
Light believes the prop trading industry “will move into the regulated route.”
“This is a new disruptive area of fintech, and there are obviously clients that want this service. As an industry, we need to ensure there are no bad actors, the rules and risks are clear, the outcomes are clear, and the props execute on their obligations to their clients.”
Following the recent alleged crackdown of MetaQuotes on prop trading firms, Devexperts’ DXtrade platform has emerged as a winner. Many prop trading firms, big and small, have integrated DXtrade to replace the forceful elimination of MetaTrader platforms.
“We have seen a large increase in inquiries and new clients signing with us. Our deployments are largely automated, and we are a large company with the bandwidth to cater to all our clients' requests,” Jon Light, the Head of OTC Platform at Devexperts, told Finance Magnates, adding that these last few days were “very hectic.”
“Despite our established processes, we were at our capacity and set a few internal records, signing and launching a dozen companies within the last five business days.”
The End of MetaTrader for Prop Trading
The chaos in the prop trading industry started in early February when multiple brokerages, including Purple Trading, Eightcap, and Blackbull Markets, decided to end grey-labeling their MetaTrader licenses to prop trading firms. An executive at Blackbull Markets confirmed to Finance Magnates that the move was forced by MetaQuotes, the developer of two MetaTrader platforms; otherwise, the broker would risk losing its MetaTrader license.
Jon Light, Head of OTC Platform at Devexperts
Although MetaQuotes did not confirm anything officially, the company allegedly did not want the unlicensed prop firms offering MetaTrader platforms to US customers. An unverified email by a MetaQuotes representative showed that the company needs firms to have either FINRA or NFA registrations even for offering MetaQuotes for educational purposes.
The brokerages now offering services to prop trading restricted their services only to non-US customers.
“As a provider that has been the first choice for business-critical software for many years, it would be reasonable to expect MQ to communicate clearly, perhaps through a press conference or an official statement, to set clear expectations,” Light added.
He further highlighted that “the platform providers, not revolving around MQ, were presented with great opportunities.”
Boom for MetaTrader Alternatives
The US was one of the largest markets for many prop trading firms. The sudden alleged crackdown has left them with no choice but to hastily look for alternatives, like DXtrade, cTrader, Match-Trade, and a few more.
“We already had a large number of prop firms using DXtrade and had many more that we were speaking with. In the past few weeks, new inquiries have obviously increased. We are speaking with most firms in the industry as DXtrade is becoming one of the go-to platforms,” Light said.
“We received more than a thousand platform demo requests over the last weekend. I’d say there are tens of qualified leads every week.”
He further pointed out that “prop trading firms are not new to DXtrade” as the company has “a number on-boarded already, and multiple prop-tech-oriented technology partners that have integrated” its trading platform.
“With the large props moving to DXtrade, we are seeing a lot of requests for migrating users from their existing platforms. We don't normally hear this request as brokers normally add DXtrade in parallel, but we are willing to help.”
If you see a firm claiming to have “built” their own trading platform there’s a 99% chance it’s a whitelabel of match trader DX trade or a number of other platform providers
MetaTrader 4 was initially released in 2005, and its interface is now dated based on current standards. MetaQuotes is now pushing brokers to adopt MetaTrader 5, the successor to its original platform.
Now, Devexperts is targeting companies with a “very professional-looking interface.” Light highlighted that DXtrade offers “a performance dashboard, a trading journal, and a super-responsive charting widget.”
“These tools provide a feeling of a professional trading environment, which is desirable for prop firms. We also give companies the ability to add the TradingView charting library so clients can experience TVs charts and interface inside DXtrade. It’s an open platform with multiple options for CRMs and Prop Trade Tech solutions.”
“We have also implemented prop-specific risk parameters directly into the risk engines, such as Max Drawdowns and Target Limits. This means they are checked and instantly acted upon, rather than an external service going through an API.”
The evaluation firm industry is turning to new trading platforms amid ongoing regulatory changes. This is DXtrade! One of the trading platforms that is expected to become more popular in the coming months.
Devexperts’ DXtrade is a “neutral technology provider and does not partake in any trading or investment activities.”
“The responsibility of onboarding and servicing end traders, as well as ensuring regulatory compliance, sits with our clients,” Light added. However, the company thoroughly checks on its prop trading clients.
“DXtrade carries out a detailed KYC, and we have enhanced this process to make sure that we are only onboarding reputable clients. We had recently added more staff onto this team, which is holding personalized training programs for our new clients to help them get up and running very quickly,” he said.
“[The process involves] from receiving the information on everything about the company and spans to our internal screening. Our KYC process was developed and refined throughout our business operations.”
“Outlined in our contract, we emphasize the importance of our clients adhering to all local laws and regulations governing their respective regions; the allocation of responsibility is on them as the broker or other types of market maker. We strongly advise seeking local legal opinion to ensure compliance with proposed business activities.”
“Additionally, our commitment to maintaining a secure and ethical trading environment is unwavering. We reserve the right to promptly suspend and terminate our clients' accounts found engaging in fraudulent activities or in breach of local rules. Furthermore, we actively monitor public regulatory lists to ensure compliance with industry standards.”
The Future of Prop Trading
Prop trading is currently an unregulated industry. The companies do not handle customers’ funds for trading, so the existing brokerage regulations do not apply to them.
Light believes the prop trading industry “will move into the regulated route.”
“This is a new disruptive area of fintech, and there are obviously clients that want this service. As an industry, we need to ensure there are no bad actors, the rules and risks are clear, the outcomes are clear, and the props execute on their obligations to their clients.”
Arnab Shome is an electronics engineer-turned-financial editor. He holds a Bachelor of Technology from the National Institute of Technology, Agartala. He entered the retail trading industry about a decade ago, covering the cryptocurrency market for Finance Magnates, and later expanded his coverage to include forex and CFDs as well.
His work at Finance Magnates includes C-level interviews, data-driven analysis, opinion pieces, and scoops of industry exclusives. He also contributes to Finance Magnates’ quarterly industry report.
Area of coverage:
1. CFD broker-related news
2. Industry-related Regulatory updates and developments
3. New retail trading trends
4. Prop trading industry updates
5. Executive interviews
Education:
Bachelor of Technology - National Institute of Technology, Agartala (India)
In this video, we review @AxiOfficialChannel , a multi-asset broker offering access to forex and CFD markets through MetaTrader 4, MetaTrader 5, the Axi Trading App, and copy trading solutions.
We examine the broker’s regulatory framework, platform offering, market coverage, and customer support structure. We also explore key features such as available trading instruments, swap-free account options, funding considerations, and multilingual support.
Watch the full video for a clear, fact-based overview of Axi’s products, trading tools, and overall broker offering.
#Axi #ForexBroker #CFDTrading #FinanceMagnates #Trading #BrokerReview #OnlineTrading
In this video, we review @AxiOfficialChannel , a multi-asset broker offering access to forex and CFD markets through MetaTrader 4, MetaTrader 5, the Axi Trading App, and copy trading solutions.
We examine the broker’s regulatory framework, platform offering, market coverage, and customer support structure. We also explore key features such as available trading instruments, swap-free account options, funding considerations, and multilingual support.
Watch the full video for a clear, fact-based overview of Axi’s products, trading tools, and overall broker offering.
#Axi #ForexBroker #CFDTrading #FinanceMagnates #Trading #BrokerReview #OnlineTrading
In this video, we review @AxiOfficialChannel , a multi-asset broker offering access to forex and CFD markets through MetaTrader 4, MetaTrader 5, the Axi Trading App, and copy trading solutions.
We examine the broker’s regulatory framework, platform offering, market coverage, and customer support structure. We also explore key features such as available trading instruments, swap-free account options, funding considerations, and multilingual support.
Watch the full video for a clear, fact-based overview of Axi’s products, trading tools, and overall broker offering.
#Axi #ForexBroker #CFDTrading #FinanceMagnates #Trading #BrokerReview #OnlineTrading
In this video, we review @AxiOfficialChannel , a multi-asset broker offering access to forex and CFD markets through MetaTrader 4, MetaTrader 5, the Axi Trading App, and copy trading solutions.
We examine the broker’s regulatory framework, platform offering, market coverage, and customer support structure. We also explore key features such as available trading instruments, swap-free account options, funding considerations, and multilingual support.
Watch the full video for a clear, fact-based overview of Axi’s products, trading tools, and overall broker offering.
#Axi #ForexBroker #CFDTrading #FinanceMagnates #Trading #BrokerReview #OnlineTrading
In this video, we review @AxiOfficialChannel , a multi-asset broker offering access to forex and CFD markets through MetaTrader 4, MetaTrader 5, the Axi Trading App, and copy trading solutions.
We examine the broker’s regulatory framework, platform offering, market coverage, and customer support structure. We also explore key features such as available trading instruments, swap-free account options, funding considerations, and multilingual support.
Watch the full video for a clear, fact-based overview of Axi’s products, trading tools, and overall broker offering.
#Axi #ForexBroker #CFDTrading #FinanceMagnates #Trading #BrokerReview #OnlineTrading
In this video, we review @AxiOfficialChannel , a multi-asset broker offering access to forex and CFD markets through MetaTrader 4, MetaTrader 5, the Axi Trading App, and copy trading solutions.
We examine the broker’s regulatory framework, platform offering, market coverage, and customer support structure. We also explore key features such as available trading instruments, swap-free account options, funding considerations, and multilingual support.
Watch the full video for a clear, fact-based overview of Axi’s products, trading tools, and overall broker offering.
#Axi #ForexBroker #CFDTrading #FinanceMagnates #Trading #BrokerReview #OnlineTrading
Multi-Asset or Die: The New Brokerage Playbook
Multi-Asset or Die: The New Brokerage Playbook
Multi-Asset or Die: The New Brokerage Playbook
Multi-Asset or Die: The New Brokerage Playbook
Multi-Asset or Die: The New Brokerage Playbook
Multi-Asset or Die: The New Brokerage Playbook
This panel will explore how firms are moving beyond CFDs into crypto, perpetuals, equities, and multi‑asset offerings, and the challenges they face across regulation, technology, liquidity, and risk management. It examines what is driving the shift, what it takes to execute it successfully, and how brokers can position themselves for the next phase of growth.
This panel will explore how firms are moving beyond CFDs into crypto, perpetuals, equities, and multi‑asset offerings, and the challenges they face across regulation, technology, liquidity, and risk management. It examines what is driving the shift, what it takes to execute it successfully, and how brokers can position themselves for the next phase of growth.
This panel will explore how firms are moving beyond CFDs into crypto, perpetuals, equities, and multi‑asset offerings, and the challenges they face across regulation, technology, liquidity, and risk management. It examines what is driving the shift, what it takes to execute it successfully, and how brokers can position themselves for the next phase of growth.
This panel will explore how firms are moving beyond CFDs into crypto, perpetuals, equities, and multi‑asset offerings, and the challenges they face across regulation, technology, liquidity, and risk management. It examines what is driving the shift, what it takes to execute it successfully, and how brokers can position themselves for the next phase of growth.
This panel will explore how firms are moving beyond CFDs into crypto, perpetuals, equities, and multi‑asset offerings, and the challenges they face across regulation, technology, liquidity, and risk management. It examines what is driving the shift, what it takes to execute it successfully, and how brokers can position themselves for the next phase of growth.
This panel will explore how firms are moving beyond CFDs into crypto, perpetuals, equities, and multi‑asset offerings, and the challenges they face across regulation, technology, liquidity, and risk management. It examines what is driving the shift, what it takes to execute it successfully, and how brokers can position themselves for the next phase of growth.
Beyond Reach? Retail Investor Acquisition Across APAC
Beyond Reach? Retail Investor Acquisition Across APAC
Beyond Reach? Retail Investor Acquisition Across APAC
Beyond Reach? Retail Investor Acquisition Across APAC
Beyond Reach? Retail Investor Acquisition Across APAC
Beyond Reach? Retail Investor Acquisition Across APAC
APAC accounts for two-thirds of global retail trading traffic, but with differences of language, regulation, and trader profile, the region's growth is ag great as complexity.
This session gathers CMOs, heads of acquisition, and IB relationship managers to examine what actually works, channel by channel, market by market.
Attendees will walk away with:
A clear view of which channels deliver funded, retained traders across Singapore, Japan, and Southeast Asia
Understanding of how to structure IB partnerships for LTV, not first deposit
Insight into what localization actually costs beyond the translation budget
Perspective on how ad restrictions, crypto promotion limits, and bundling rules differ across APAC jurisdictions
A read on whether the super-app model changes acquisition economics for retail investing platforms
APAC accounts for two-thirds of global retail trading traffic, but with differences of language, regulation, and trader profile, the region's growth is ag great as complexity.
This session gathers CMOs, heads of acquisition, and IB relationship managers to examine what actually works, channel by channel, market by market.
Attendees will walk away with:
A clear view of which channels deliver funded, retained traders across Singapore, Japan, and Southeast Asia
Understanding of how to structure IB partnerships for LTV, not first deposit
Insight into what localization actually costs beyond the translation budget
Perspective on how ad restrictions, crypto promotion limits, and bundling rules differ across APAC jurisdictions
A read on whether the super-app model changes acquisition economics for retail investing platforms
APAC accounts for two-thirds of global retail trading traffic, but with differences of language, regulation, and trader profile, the region's growth is ag great as complexity.
This session gathers CMOs, heads of acquisition, and IB relationship managers to examine what actually works, channel by channel, market by market.
Attendees will walk away with:
A clear view of which channels deliver funded, retained traders across Singapore, Japan, and Southeast Asia
Understanding of how to structure IB partnerships for LTV, not first deposit
Insight into what localization actually costs beyond the translation budget
Perspective on how ad restrictions, crypto promotion limits, and bundling rules differ across APAC jurisdictions
A read on whether the super-app model changes acquisition economics for retail investing platforms
APAC accounts for two-thirds of global retail trading traffic, but with differences of language, regulation, and trader profile, the region's growth is ag great as complexity.
This session gathers CMOs, heads of acquisition, and IB relationship managers to examine what actually works, channel by channel, market by market.
Attendees will walk away with:
A clear view of which channels deliver funded, retained traders across Singapore, Japan, and Southeast Asia
Understanding of how to structure IB partnerships for LTV, not first deposit
Insight into what localization actually costs beyond the translation budget
Perspective on how ad restrictions, crypto promotion limits, and bundling rules differ across APAC jurisdictions
A read on whether the super-app model changes acquisition economics for retail investing platforms
APAC accounts for two-thirds of global retail trading traffic, but with differences of language, regulation, and trader profile, the region's growth is ag great as complexity.
This session gathers CMOs, heads of acquisition, and IB relationship managers to examine what actually works, channel by channel, market by market.
Attendees will walk away with:
A clear view of which channels deliver funded, retained traders across Singapore, Japan, and Southeast Asia
Understanding of how to structure IB partnerships for LTV, not first deposit
Insight into what localization actually costs beyond the translation budget
Perspective on how ad restrictions, crypto promotion limits, and bundling rules differ across APAC jurisdictions
A read on whether the super-app model changes acquisition economics for retail investing platforms
APAC accounts for two-thirds of global retail trading traffic, but with differences of language, regulation, and trader profile, the region's growth is ag great as complexity.
This session gathers CMOs, heads of acquisition, and IB relationship managers to examine what actually works, channel by channel, market by market.
Attendees will walk away with:
A clear view of which channels deliver funded, retained traders across Singapore, Japan, and Southeast Asia
Understanding of how to structure IB partnerships for LTV, not first deposit
Insight into what localization actually costs beyond the translation budget
Perspective on how ad restrictions, crypto promotion limits, and bundling rules differ across APAC jurisdictions
A read on whether the super-app model changes acquisition economics for retail investing platforms
Buy, Build or Both? Trading Tech for Brokers, Banks & Beyond
Buy, Build or Both? Trading Tech for Brokers, Banks & Beyond
Buy, Build or Both? Trading Tech for Brokers, Banks & Beyond
Buy, Build or Both? Trading Tech for Brokers, Banks & Beyond
Buy, Build or Both? Trading Tech for Brokers, Banks & Beyond
Buy, Build or Both? Trading Tech for Brokers, Banks & Beyond
For every feature and product, someone has to decide: build it in-house or buy from a vendor. In Singapore and across APAC, local banks and global players face the same question with very different constraints.
This session gathers heads of technology and e-trading to compare how client demand and cost structures shape their choices, and how long it actually takes to ship in each.
Attendees will walk away with:
First-hand view of how client feedback informs decision-making across different market participants.
Understanding pain points and benefits of working with 3rd party integrations at scale.
Insight into products and innovation banks’ retail and trading heads will look for in 2026.
For every feature and product, someone has to decide: build it in-house or buy from a vendor. In Singapore and across APAC, local banks and global players face the same question with very different constraints.
This session gathers heads of technology and e-trading to compare how client demand and cost structures shape their choices, and how long it actually takes to ship in each.
Attendees will walk away with:
First-hand view of how client feedback informs decision-making across different market participants.
Understanding pain points and benefits of working with 3rd party integrations at scale.
Insight into products and innovation banks’ retail and trading heads will look for in 2026.
For every feature and product, someone has to decide: build it in-house or buy from a vendor. In Singapore and across APAC, local banks and global players face the same question with very different constraints.
This session gathers heads of technology and e-trading to compare how client demand and cost structures shape their choices, and how long it actually takes to ship in each.
Attendees will walk away with:
First-hand view of how client feedback informs decision-making across different market participants.
Understanding pain points and benefits of working with 3rd party integrations at scale.
Insight into products and innovation banks’ retail and trading heads will look for in 2026.
For every feature and product, someone has to decide: build it in-house or buy from a vendor. In Singapore and across APAC, local banks and global players face the same question with very different constraints.
This session gathers heads of technology and e-trading to compare how client demand and cost structures shape their choices, and how long it actually takes to ship in each.
Attendees will walk away with:
First-hand view of how client feedback informs decision-making across different market participants.
Understanding pain points and benefits of working with 3rd party integrations at scale.
Insight into products and innovation banks’ retail and trading heads will look for in 2026.
For every feature and product, someone has to decide: build it in-house or buy from a vendor. In Singapore and across APAC, local banks and global players face the same question with very different constraints.
This session gathers heads of technology and e-trading to compare how client demand and cost structures shape their choices, and how long it actually takes to ship in each.
Attendees will walk away with:
First-hand view of how client feedback informs decision-making across different market participants.
Understanding pain points and benefits of working with 3rd party integrations at scale.
Insight into products and innovation banks’ retail and trading heads will look for in 2026.
For every feature and product, someone has to decide: build it in-house or buy from a vendor. In Singapore and across APAC, local banks and global players face the same question with very different constraints.
This session gathers heads of technology and e-trading to compare how client demand and cost structures shape their choices, and how long it actually takes to ship in each.
Attendees will walk away with:
First-hand view of how client feedback informs decision-making across different market participants.
Understanding pain points and benefits of working with 3rd party integrations at scale.
Insight into products and innovation banks’ retail and trading heads will look for in 2026.
