Spotware also advancing plans to allow other mirror trading platforms to integrate with the cTrader suite.
FX platform provider Spotware has announced plans to introduce a new platform, cMulti, into its line of STP and NDD spot trading platforms. The new mirror trading platform, to be offered to Spotware clients at no additional cost, allows users to automatically replicate the trading of ‘signal providers’ on their own accounts.
Concurrently, Spotware announced it is advancing plans to allow other mirror trading platforms and third party providers to integrate with the cTrader suite through Spotware Connect, the open API project. It is likely no coincidence that Spotware is making this announcement, the same week that MetaQuotes acted to ban popular copy trading programs such as Tradency, ZuluTrade and Tradeo from its MT4 trading platform.
The complete Spotware press release is included below:
Spotware Systems announces new mirror trading platform, cMulti, for its cTrader product suite.
Spotware Systems today announced plans to introduce a new platform, cMulti, into its line of STP and NDD spot trading platforms. The new mirror trading platform, to be offered to Spotware clients at no additional cost, allows users to automatically replicate the trading of ‘signal providers’ on their own accounts.
Concurrently, Spotware announced it is advancing plans to allow other mirror trading platforms and 3rd party providers to integrate with the cTrader suite through Spotware Connect, the open API project.
Alex Katsaros, Project Manager at Spotware, says “In working to create cMulti, we focused independently on three main client groups: Traders or ‘followers’, signal providers and brokers.”
For traders, cMulti offers a chance to discover and follow the best signal providers while maintaining complete control over their accounts. Benefits include:
§ Discovery of signal providers and trades: The discovery engine for cMulti allows users to quickly find the best signal providers and trades to mirror.
§ Single trade mirroring: Followers can capitalize on trading opportunities without committing to following all of a provider’s trades.
§ Risk management: Ability to override stop loss and take profit, set limits on the volume amount to be mirrored, adjust trade expiry dates independently, and triggers to stop following signal providers that lose more than a certain percentage or number of pips. Users are always in full control over their accounts and their trading.
§ Clarity: Users of cMulti will be able to clearly distinguish between their mirror trades and self-executed trades.
§ Latency: The PaaS delivery system ensures no vulnerability to broker-hosted servers that can cause multi-second delays between signal and execution.
Signal providers can use cMulti to instantly reach thousands of followers and increase their revenue. Advantages include:
§ Fast setup: Providers can simply log in to cMulti with an existing cTrader account, and begin sending signals at the click of a button.
§ Clear commissions: Signal providers pay the same commissions they charge their followers. This benefits the signal provider first and foremost, serving as evidence of what followers can expect.
§ Algorithmic signal sending: Providers can also send signals through powerful trading robots using cAlgo, the algorithmic trading platform from Spotware.
Brokers offering cMulti will expand their customer base and increase revenue, while incurring no extra cost. Broker benefits include:
§ Access to a critical mass of signal providers: Brokers who choose to offer cMulti will gain immediate access to a global pool of strategy providers. Anybody with an existing cTrader account, created with any broker, will be automatically eligible to become a signal provider.
§ No additional expense: cMulti is being included as part of the existing cTrader suite at no extra charge.
§ Fast implementation: Hassle-free with no further integration required.
§ Broker curation: For brokers wary of how the ease-of-access may affect their client accounts, cMulti also comes with the ability for brokers to curate signal providers at their discretion.
Spotware expects to make further announcements on cMulti in the near future.
About Spotware Systems:
Spotware Systems is a London based neutral financial technology provider offering comprehensive e-FX STP solutions for brokers, banks and their clients.
Spotware are best known for their flagship NDD and STP trading platform, cTrader, and its companion algorithmic trading platform, cAlgo. The company provides an easily integrated PaaS (Platform as a Service) solution to broker-dealers, banks, and other financial services firms looking to implement and offer manual and algorithmic NDD eFX trading with a complete back-end management system.
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