ActForex, Inc., an American financial technology company, today announced that it has acquired an ownership interest in Boston UniSoft Technologies, Inc., a rival software firm which develops the UniTrader FX/CFD trading platform.
Speaking with Forex Magnates, Paul Belogour, Director of Boston UniSoft Technologies, said that he views the acquisition as a confirmation of UniTrader’s technology and as a recognition of its powerful instant white label “Broker in a Link” model.
Mr. Belogour added that the deal is beneficial to both companies, as ownership of Boston UniSoft Technologies will allow ACTForex to utilize joint R&D resources, while UniTrader will get access to ACT’s mobile technology and its liquidity pool. Asked about trading volumes, Mr. Belogour answered that despite being a newcomer in the market with just a handful of licensees, UniTrader is now closing on one yard ($billion) a day.
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UniTrader is a platform developed to offer introducing brokers (IBs) and white labels an easy solution to setup and operate a retail FX and CFD trading business. The so-called ‘broker in a link’ allows IBs to setup their own white labels in less than five minutes, and get for free all the payment management, customer relations management, risk management and other back-office management needs, in connected and automated consoles.
In August, Forex Magnates published a lengthy interview with Mr. Belogour, the CEO and Founder of BMFN Ltd, who developed the Unitrader platform and was its first customer. In the executive interview, Mr. Belogour explained the process for IBs to setup white labels and his views on the competition, among other subjects.
ActForex is a managed service provider, founded in the year 2000 by Ilya Sorokin, providing brokers with a turnkey online retail FX trading solution fully hosted and maintained by the firm.
ActForex is planning to offer UniTrader as a self-hosted standalone solution for brokers who prefer to host their own platforms, in conjunction with its ActTrader hosted solution. ActForex CEO, Ilya Sorokin, commented in the announcement: “We’re very excited about the synergy we can create between the two companies.”