Tools for Brokers Launches TCA Tool ‘Terminal Cost Overview’

The new tool provides traders with a full picture of their costs for spread, commissions, and swaps.

Tools for Brokers, a software developer for FX brokers, has launched analytics for trading costs on its B2B solution of foreign exchange trading platform MetaTrader 4.

Known as Terminal Cost Overview, the service acts similar to transaction cost analysis (TCA) providing traders with the ability to assess trading data, including comparisons of liquidity providers.  The new tool provides traders with a full picture of their costs for spread, commissions, and swaps before they make a trade, Tools for Brokers said.

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The company explains that as new regulation heightened conduct standards, investors are now paying closer attention to their execution performance. The TCA tool uses MetaTrader 4 Manager API to connect to the MT4 server.

Developed to offer greater transparency and to improve traders’ abilities to meet best execution requirements, the solution pulls in current trade and account data for up to 25,000 separate accounts, and displays it in a dedicated dashboard on the client-server, refreshing the data every 60 seconds.

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A growing focus on FX best execution

The latest development follows on the heels of several years’ experience in which the company engineered MT4 plugins for a wide range of financial service venues.

Established in 2009, Tools For Brokers provides software solutions to brokerage firms in the foreign exchange and cryptocurrency trading. The company is also a provider of risk management utilities such as a Broker Business Intelligence (BBI), which gives additional instruments for analysis and reporting across MT4/MT5 platforms.

Earlier last week, US electronic market maker Virtu Financial Inc also launched a similar TCA tool to help traders better monitor their transaction costs when trading foreign exchange and fixed income markets.

Commenting on this, Albina Zhdanova, COO at Tools For Brokers, said: “The foreign exchange industry is highly regulated. While regulations differ from country to country, having full visibility of costs allows traders to make transactions safe in the knowledge that they’re fully compliant, wherever they’re located.”

She added: “The level of transparency that Terminal Cost Overview offers will always be attractive to traders. It means there can never be any surprises – with commission, for example – that could affect the return on their transactions.”

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