In recent years, Spotware’s cTrader has been continuing to grow its user base rapidly. The company’s ‘trader first’ approach has been at the center of a successful product.
The firm’s CEO Alexander Shulman shared with Finance Magnates some of the upcoming plans for the company and his views on the current state of the trading industry.
Shulman started with Spotware’s goals for 2019. With the maturity of the industry, the mission of technology providers is to provide users with even more information. The core issue at the center of the new regulations in Europe has opened the doors to new functionalities that should enable broker end-clients to make better trading decisions.
“That is why we will focus a lot on delivering data and tools for fundamental and technical analysis across all devices,” Shulman explained.
Spotware’s plan is to deliver more fundamental analysis features such as an economic calendar, symbol-focused market news, and sentiment data.
Transitioning into a new phase, Spotware is planning to make cTrader more convenient for the wide array of professional clients that are using the platform. The firm plans to start with a new multiple screen functionality for charts and add more tools and options for line studies.
Another important area of focus for the company are signal providers and the ever-growing importance of mobile.
“In 2018, it was recorded that 52.2% of all website traffic worldwide was generated through mobile phones. That is why it is becoming more and more important to provide users with a convenient on-the-go solution to trade anywhere anytime,” Shulman said.
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Spotware’s CEO thinks that cTrader Mobile perfectly responds to internet usage trends. “Currently, we are working on including cTrader Copy, the innovative investment platform, and a copy trading service of cTrader, in the app as well. Improvement of line study tools on mobile is also planned for this year, in line with our strategy,” elaborated Shulman.
Spotware has developed its trading platform while having the trader in mind. In contrast to many proprietary broker platforms and some third party solutions focused on helping brokers capitalize on client trading volumes, cTrader puts the end-user first.
Nowadays, the approach is starting to pay off for Spotware as brokers are slowly realizing that the endless churn and burn approach is unsustainable. “Despite the fact that we are a B2B company, our focus was always on traders. And if you think about it, it makes a perfect sense. Traders are the actual users of the platform, so naturally, our goal is to provide them with a platform that reflects their needs,” Shulman shared.
“cTrader was built with transparency in mind ensuring fair trading conditions and protecting traders from any kind of manipulations. For example, cTrader doesn’t allow any plugins or algorithms to run on brokers’ servers which can cause delays and price alterations. Overall, cTrader platform is highly responsive and incredibly fast with execution speed and other order filling details being visible for traders per each deal,” explained Shulman.
Third Generation and Beyond
The company’s approach to retooling the trading platform to include all of its subcomponents was an essential step for Spotware in 2018. The third generation of the software also provided a much-needed boost to the web version of the software.
“For brokers, the all-inclusive concept is one of the key factors when choosing a trading platform. Usually, the platform software comes on its own, but the core cTrader suite includes also deployment, hosting and ongoing technical support by Spotware. Within our partnership with a famous prime brokerage, we also offer an All-in-One Broker Solution that combines both, the cTrader platform and deep liquidity,” Shulman said.
In Shulman’s view, the highlight of the year for the company was the launch of cTrader Copy, the new copy trading service of cTrader. It combines the advantages of both copy trading and PAMM.
“Also, in 2018, we started rolling out to brokers a new cTrader Mobile application. It was developed from scratch and is now available on Google Play and App Store. The new app is beautiful and modern, simple to use and incredibly fast, which is important especially when using charts. It also incorporates trading events and cloud push notifications, such as price alerts and custom margin calls,“ elaborated Shulman on the milestones for 2018.
The company is actively continuing its work to deliver a trader-centric product to end-users. In the meantime, brokers, who are offering the solution are gaining access to a community of traders that now clocks over a million. Recently the company also announced a new white label partnership together with Match Trade.