Digitex Futures has revealed a new partnership with Chainlink that sees the cryptocurrency futures Trading Platform
Trading Platform
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools.
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools.
Read this Term fully integrating Chainlink’s decentralized Price Reference Contracts in an effort to provide the most consistent and accurate price data without fluctuation.
Chainlink to Provide Digitex Futures with Tamperproof Price Data
In a first for crypto futures platforms, decentralized oracles are being implemented to bolster platform security and protect user funds from vulnerabilities related to the spot exchanges powering each platform’s price index.
Most futures trading platforms rely on an aggregated price index for each asset based on a variety of trusted spot exchange pricing to provide accurate data to clients.
The challenge here is that these spot exchanges can experience outages, deviations, manipulation from larger players, or flash crashes that can impact the index price.
By leveraging decentralized oracles and tapping into Chainlink’s highly reliable Price Reference Contracts as a price anchor, Digitex Futures’ users can be certain they are getting the most trustworthy, up-to-date data with full transparency.
This also prevents issues with Slippage
Slippage
In financial trading, slippage refers to the difference in price between the price an order was intended or expected to be filled and the actual price an order was filled. Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. For example, in forex trading, if a trader places a trade intending to enter a buy on the EUR/USD at 1.1080, but they only get into the market at a price of 1.1078, the slippage here would be two pips. Naturally, there is always going to be a time delay between the trader buying or selling a financial instrument, and the time that the broker is able to execute the order, even if it’s only a few milliseconds, the delay is still there.Why Slippage is an Issue in FX Trading The issue of slippage is exacerbated in high volatile markets, such as the foreign exchange market in particular, as prices can and do change within these few milliseconds, causing the order to be executed at a different price to what was originally requested. Slippage takes one of two forms. Either it is negative slippage, i.e. if the trader enters the market at an inferior position to what they requested.Positive slippage, i.e. if the trader enters the market at a superior position to what they requested, which is welcome of course. For example, if a forex trader places a trade on their broker for buying the USD/JPY at 113.05, but the broker fills the order at 113.08, it means the slippage here is a positive slippage of 3 pips.Slippage is more common in forex trading during economic news releases, when price can fluctuate up and down wildly, known as whipsaws, making it virtually impossible to enter a trade at the intended price. Slippage can also occur due to lack of liquidity, especially on large orders, where they might be an inadequate amount of interest from the other party, since ultimately, orders can only be filled at the requested price if there are enough buyers or sellers at the intended price and size of order.To help eliminate or mitigate slippage, many traders rely on limit orders rather than market orders. A limit order only fills at the price you want, or better. Unlike a market order, it won't fill at a worse price.
In financial trading, slippage refers to the difference in price between the price an order was intended or expected to be filled and the actual price an order was filled. Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. For example, in forex trading, if a trader places a trade intending to enter a buy on the EUR/USD at 1.1080, but they only get into the market at a price of 1.1078, the slippage here would be two pips. Naturally, there is always going to be a time delay between the trader buying or selling a financial instrument, and the time that the broker is able to execute the order, even if it’s only a few milliseconds, the delay is still there.Why Slippage is an Issue in FX Trading The issue of slippage is exacerbated in high volatile markets, such as the foreign exchange market in particular, as prices can and do change within these few milliseconds, causing the order to be executed at a different price to what was originally requested. Slippage takes one of two forms. Either it is negative slippage, i.e. if the trader enters the market at an inferior position to what they requested.Positive slippage, i.e. if the trader enters the market at a superior position to what they requested, which is welcome of course. For example, if a forex trader places a trade on their broker for buying the USD/JPY at 113.05, but the broker fills the order at 113.08, it means the slippage here is a positive slippage of 3 pips.Slippage is more common in forex trading during economic news releases, when price can fluctuate up and down wildly, known as whipsaws, making it virtually impossible to enter a trade at the intended price. Slippage can also occur due to lack of liquidity, especially on large orders, where they might be an inadequate amount of interest from the other party, since ultimately, orders can only be filled at the requested price if there are enough buyers or sellers at the intended price and size of order.To help eliminate or mitigate slippage, many traders rely on limit orders rather than market orders. A limit order only fills at the price you want, or better. Unlike a market order, it won't fill at a worse price.
Read this Term, and eliminates the chance of flash crashes and or data manipulation.
Full Integration Expected By Trading Platform’s Scorching Summer Launch
The partnership is all part of Digitex Futures’ mission to “build a highly secure platform that’s protective of user funds.” The integration of Chainlink’s Price Reference Contracts the company says is part of a new, “broader development roadmap.”
“Using Chainlink price data enables us to deliver stronger security and performance guarantees to our users, furthering our vision to revolutionize futures trading," Digitex Futures CEO and founder Adam Todd explained.
Digitex Futures is a hotly anticipated, zero-fee Bitcoin futures trading platform powered by the DGTX token. Currently, the DFE Mainnet is still closed off to the public while the company onboards users in phases.
However, with just over 200 users currently trading on the platform, the exchange has already reached a notional value of $77mil volume in today’s 24-hour period.
All being well, Digitex is planning to onboard another 10,000 users in weekly groups throughout the coming month of June.
CEO Adam Todd states that onboarding smaller groups in phases has been helpful from the user experience perspective.
The time between each onboarding gives time to fine-tune the exchange, so each new set of traders has a better experience than the last.
The company expects the BTC/USD price anchor to be completely integrated by the time the Digitex Futures exchange is fully released to the public this Summer.
Later, as more trading products are added Digitex will continue to tap into additional feeds provided by Chainlink’s Price Reference Contracts to deliver the same level of user experience across the board.
Disclaimer: The content of this article is sponsored and does not represent the opinions of Finance Magnates.
Digitex Futures has revealed a new partnership with Chainlink that sees the cryptocurrency futures Trading Platform
Trading Platform
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools.
In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real-time updates on quotes, charts and is the main frontend which customers are facing.Brokers either use existing trading platforms and sometimes customize them, or develop their own platform from scratch. Since the beginning of the retail FX trading business MetaQuotes and its platforms MetaTrader 4 (MT4) and MetaTrader 5 (MT5) have been the industry standard, especially when it comes to automated trading.MT4 Shows Resiliency While MT4 has long been seen as ubiquitous amongst brokers’ offerings, a targeted push by MetaQuotes themselves has led to broader adoption of MT5 in recent years. Advanced trading platforms such as MT4 or MT5 also allow access to a wide range of asset classes available for trading.The development of trading platforms over the past decade has failed to successfully dethrone MT4 or MT5, notably in the retail market. However, in institutional markets, brokerage companies and banking entities also construct and utilize proprietary currency trading platforms to help satisfy internal needs with trades executed through institutional trading channels.By far the most important parameter for many retail clients is the optionality and pairs available on trading platforms. Additionally, demand by traders has led to a greater emphasis on newer features such as advanced charting and other tools.
Read this Term fully integrating Chainlink’s decentralized Price Reference Contracts in an effort to provide the most consistent and accurate price data without fluctuation.
Chainlink to Provide Digitex Futures with Tamperproof Price Data
In a first for crypto futures platforms, decentralized oracles are being implemented to bolster platform security and protect user funds from vulnerabilities related to the spot exchanges powering each platform’s price index.
Most futures trading platforms rely on an aggregated price index for each asset based on a variety of trusted spot exchange pricing to provide accurate data to clients.
The challenge here is that these spot exchanges can experience outages, deviations, manipulation from larger players, or flash crashes that can impact the index price.
By leveraging decentralized oracles and tapping into Chainlink’s highly reliable Price Reference Contracts as a price anchor, Digitex Futures’ users can be certain they are getting the most trustworthy, up-to-date data with full transparency.
This also prevents issues with Slippage
Slippage
In financial trading, slippage refers to the difference in price between the price an order was intended or expected to be filled and the actual price an order was filled. Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. For example, in forex trading, if a trader places a trade intending to enter a buy on the EUR/USD at 1.1080, but they only get into the market at a price of 1.1078, the slippage here would be two pips. Naturally, there is always going to be a time delay between the trader buying or selling a financial instrument, and the time that the broker is able to execute the order, even if it’s only a few milliseconds, the delay is still there.Why Slippage is an Issue in FX Trading The issue of slippage is exacerbated in high volatile markets, such as the foreign exchange market in particular, as prices can and do change within these few milliseconds, causing the order to be executed at a different price to what was originally requested. Slippage takes one of two forms. Either it is negative slippage, i.e. if the trader enters the market at an inferior position to what they requested.Positive slippage, i.e. if the trader enters the market at a superior position to what they requested, which is welcome of course. For example, if a forex trader places a trade on their broker for buying the USD/JPY at 113.05, but the broker fills the order at 113.08, it means the slippage here is a positive slippage of 3 pips.Slippage is more common in forex trading during economic news releases, when price can fluctuate up and down wildly, known as whipsaws, making it virtually impossible to enter a trade at the intended price. Slippage can also occur due to lack of liquidity, especially on large orders, where they might be an inadequate amount of interest from the other party, since ultimately, orders can only be filled at the requested price if there are enough buyers or sellers at the intended price and size of order.To help eliminate or mitigate slippage, many traders rely on limit orders rather than market orders. A limit order only fills at the price you want, or better. Unlike a market order, it won't fill at a worse price.
In financial trading, slippage refers to the difference in price between the price an order was intended or expected to be filled and the actual price an order was filled. Slippage is a very contentious issue among retail traders, which can lead to issues. Many traders view levels of slippage at brokers as a key determinant for their business. For example, in forex trading, if a trader places a trade intending to enter a buy on the EUR/USD at 1.1080, but they only get into the market at a price of 1.1078, the slippage here would be two pips. Naturally, there is always going to be a time delay between the trader buying or selling a financial instrument, and the time that the broker is able to execute the order, even if it’s only a few milliseconds, the delay is still there.Why Slippage is an Issue in FX Trading The issue of slippage is exacerbated in high volatile markets, such as the foreign exchange market in particular, as prices can and do change within these few milliseconds, causing the order to be executed at a different price to what was originally requested. Slippage takes one of two forms. Either it is negative slippage, i.e. if the trader enters the market at an inferior position to what they requested.Positive slippage, i.e. if the trader enters the market at a superior position to what they requested, which is welcome of course. For example, if a forex trader places a trade on their broker for buying the USD/JPY at 113.05, but the broker fills the order at 113.08, it means the slippage here is a positive slippage of 3 pips.Slippage is more common in forex trading during economic news releases, when price can fluctuate up and down wildly, known as whipsaws, making it virtually impossible to enter a trade at the intended price. Slippage can also occur due to lack of liquidity, especially on large orders, where they might be an inadequate amount of interest from the other party, since ultimately, orders can only be filled at the requested price if there are enough buyers or sellers at the intended price and size of order.To help eliminate or mitigate slippage, many traders rely on limit orders rather than market orders. A limit order only fills at the price you want, or better. Unlike a market order, it won't fill at a worse price.
Read this Term, and eliminates the chance of flash crashes and or data manipulation.
Full Integration Expected By Trading Platform’s Scorching Summer Launch
The partnership is all part of Digitex Futures’ mission to “build a highly secure platform that’s protective of user funds.” The integration of Chainlink’s Price Reference Contracts the company says is part of a new, “broader development roadmap.”
“Using Chainlink price data enables us to deliver stronger security and performance guarantees to our users, furthering our vision to revolutionize futures trading," Digitex Futures CEO and founder Adam Todd explained.
Digitex Futures is a hotly anticipated, zero-fee Bitcoin futures trading platform powered by the DGTX token. Currently, the DFE Mainnet is still closed off to the public while the company onboards users in phases.
However, with just over 200 users currently trading on the platform, the exchange has already reached a notional value of $77mil volume in today’s 24-hour period.
All being well, Digitex is planning to onboard another 10,000 users in weekly groups throughout the coming month of June.
CEO Adam Todd states that onboarding smaller groups in phases has been helpful from the user experience perspective.
The time between each onboarding gives time to fine-tune the exchange, so each new set of traders has a better experience than the last.
The company expects the BTC/USD price anchor to be completely integrated by the time the Digitex Futures exchange is fully released to the public this Summer.
Later, as more trading products are added Digitex will continue to tap into additional feeds provided by Chainlink’s Price Reference Contracts to deliver the same level of user experience across the board.
Disclaimer: The content of this article is sponsored and does not represent the opinions of Finance Magnates.
