Big news in the Forex platform provider world…
Forex broker technology providers X Open Hub, part of the X Trade Brokers Dom Maklerski SA (WSE:XTB) group which operates FCA regulated brokerage XTB.com, and PFSOFT have announced a partnership whereby X Open Hub’s liquidity and market data will be integrated into PFSOFT’s Protrader brokerage solution.
X Open Hub had at one time aimed to compete with other full service brokerage solution providers such as PFSOFT, Leverate and Spotware. However with what we have heard in the market in recent months and as borne out by this agreement it looks like they will be focusing mainly on technology agnostic multi-asset liquidity solutions products to brokers, banks as well as to startups.
X Open Hub parent company X Trade Brokers (or XTB for short) went public earlier this year on the Warsaw Exchange at a valuation of $349 million.
The new integration between X Open Hub and Protrader will include market data and execution for over 1,500 global instruments divided among FX, Indices, Commodities, Shares and ETFs.
Roman Nalivayko, Global Head of Business Development at PFSOFT commented:
Our companies seem to be perfect match to create a robust solution for an advanced multi-asset brokerage. Currently we are working on joint offering that will give brokers a real alternative to current solutions functioning on the market.
As a result of this partnership, brokers which decide to use Protrader will be able to connect it to X Open Hub for its comprehensive multi-asset solution with quality execution at superior prices. Because of its extensive back-office and front-ends functionality Protrader is used by regional banks, brokers and white label providers to connect to a variety of markets and asset classes in a single platform.
Michael Copiuk, COO at X Open Hub added:
X Open Hub is focused on liquidity while being technology agnostic. Currently, we offer MT4 and XOH Trader as well as an open API to access our liquidity. We believe that strategic partnership with PFSOFT will create great added value for our clients.