Margin Cryptocurrency Trading for CEX.IO
Case study

Margin Cryptocurrency Trading for CEX.IO

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About the client

Established in 2013 as the first cloud mining provider, CEX.IO has become a multi-functional cryptocurrency exchange, trusted by over a million users.

CEX.IO offers cross-platform trading via website, mobile app, WebSocket and REST API, providing access to a high liquidity orderbook for top currency pairs on the market. Instant Bitcoin buying and selling is available via a simplified bundle interface.

The exchange has developed a multi-level account system with an individual approach to each customer, from Bitcoin beginners to institutional traders. Worldwide coverage, multiple payment options, and 24/7 support are accompanied by time-proven platform stability that guarantees safety of assets and data.

Business challenge

Having already established a cryptocurrency exchange, CEX.IO went on to introduce margin cryptocurrency trading. The solution CEX.IO was targeting had to be a complex product combining back-end components, an admin interface, and trading terminals to be run in web browsers and on mobile devices of all sorts. As they already gained recognition as a trusted crypto exchange with stable volatility, they wanted to keep the leadership in the FinTech competition and exploit the revenue from cryptocurrency trading. They wanted to add margin trading and be among the firsts to provide end-users with crypto trading functionality. Creating such a product from scratch would have required a lot of resources so CEX.IO’s decision was to reach out to Devexperts, the veterans of conventional trading software.

Solution

After CEX.IO approached Devexperts and explained their needs, the viable option was to customize dxTrade, a flagship platform of Devexperts, so that it complies with specifics of crypto trading and the CEX.IO exchange. dxTrade is a multi-asset trading solution that can be adapted to a client’s existing infrastructure.

Devexperts backend integrated with CEX.IO’s environment is responsible for order execution, including sending out offset orders, receiving quotes via the FIX gate, and facilitating deposit/withdrawal. User on-boarding and settings management are done via REST API integration.

The dealing interface was based on an existing desktop dealing solution developed by Devexperts. The web-based admin interface includes specific settings management: commission calculation and crypto-specific rollover in every 4 hours.

The end users of the product are provided with trading terminals based on Devexperts dxTrade solution. The terminals allow for Web and mobile trading on both Android and iOS. The original solution fit the specifications almost completely, requiring subtle customization in terms of visuals.

The entire process of developing the product has taken both companies about 5 months. It is a complex solution, where most of the components were adapted from the dxTrade platform and effectively applied to cryptocurrency trading.

Result

CEX.IO received a margin cryptocurrency trading platform with the following specifics:

  • currently offers trading of five cryptocurrency-based pairs: BTC/USD, BTC/EUR, ETH/USD, ETH/EUR, and ETH/BTC
  • the basic configuration can support up to 10000 users
  • the solution is scalable and capable of supporting an unlimited number of users in real-time
  • allows for trading with any leverage, the first version of the platform was released with 1:2 and 1:3 leverages