Optimizing a Prop Trading Firm’s Client Journey and Experience February 20, 2025 About the Client GoldFunded is a proprietary trading firm offering a unique twist on prop trading by rewarding its top-funded clients with gold bullion as well as funded trading accounts. Prospective funded traders are able to participate in trading challenges, as well as a verification and evaluation process in order to ensure their suitability for a funded account. The firm prioritizes the provision of a smooth journey from demo to “Gold Funded” trading status for successful clients. Business Challenge GoldFunded aimed to make the client’s trading journey through the various stages of the challenge, verification, and evaluation process as frictionless as possible. The need to create different accounts for interacting with the company’s various platforms was a pain point they sought to alleviate by making the process as automated and quick for the end user as possible. The ongoing partnership between Devexperts and Nobosso was a perfect fit in this instance. It enables brokers licensing the DXtrade platform to utilize Nobosso’s NBS360 prop trading dashboard, resulting in a much smoother experience for traders. The client required the following: A professional trading experience via a feature-rich platform that could be easily integrated with the firm’s other prop trading systems. The ability for users to maintain the same account throughout their trading journey. A suitable risk management dashboard to provide key metrics to users via an attractive front-end, while allowing the firm to manage risk in a professional manner on the backend. The ability to manage affiliates and discounts independently of any payment provider. Solution GoldFunded chose the DXtrade platform from Devexperts due to its advanced feature set, public API, and flexible user management features. This allowed several of its business challenges to be met, while also making for easy integration with Nobosso’s NBS360 prop trading dashboard. The combination of DXtrade’s trading features and customizability with NBS360’s established prop trading management features provided all the key features required by the client. This created a much smoother trading experience for GoldFunded clients, allowing the various evaluation phases to be progressed through smoothly and without the need of a change in credentials. Risk management features were easily integrated with the backend of DXtrade owing to its open API and extensive documentation. Affiliate and discount management capabilities were also separated from payment providers and implemented within the company’s partner portal, offering the firm enhanced flexibility and independence from any single provider of payment services. Results The collaboration demonstrated DXtrade’s flexibility and ease of integration, proving it to be as valuable to prop trading businesses as it is to brokers offering CFDs and listed securities. The integration with valued partners like Nobosso provided GoldFunded with: Zero waiting times for end users A seamless customer journey with continuous account usage Enhanced risk management functionality for both users and the company. The partnership with Nobosso has been a particularly fruitful one, to date it has resulted in over 1bn USD in prop trading volumes and has enhanced the end user’s experience, leading to zero waiting times for end users as they graduate between prop trading stages, as well as allowing them to maintain a single continuous account throughout the trading journey. Onboarding was straightforward, and processes are now very streamlined. Most importantly, our clients love the experience, which we always strive to improve. – Filip Dimov, CEO, GoldFunded DXtrade has proven to be a stable, transparent, and responsive partner, providing the support of a true market leader. – Mihail Kamburov, Founder and CPO, NBS360 Collaborating with the teams at Nobosso and GoldFunded to tailor a solution that served the client’s business needs proved to be a great experience. At Devexperts, we believe in collaboration and have accrued a great deal of experience integrating with multiple systems. This is why our APIs remain public and extensively documented, we encourage others to experiment with them and are always prepared to help on new and interesting integrations. – Jon Light, Head of OTC Platform, Devexperts
Scaling a Transparency-Driven Funded Trader Firm June 14, 2024 About the Client This Germany-based funded trader client is relatively new to the industry but has already made an impact. They have focused on transparency and community in their approach, with clear fee structures and a dedicated Discord channel. The firm also wants to prioritize efficiency and accessibility in every aspect of the trading experience they provide, from fast payouts to offering a wide range of instruments including forex, commodities, indices, crypto, and more. Business Challenge Before engaging with Devexperts the client was using a platform that served its purpose in helping them launch, but as they grew their user base, the platform was not able to handle volumes during peak activity. The instability posed a significant risk of user dissatisfaction and potential churn, jeopardizing revenue streams and market positioning. To mitigate these risks and encourage user engagement, the client looked for a more stable platform with a user-friendly interface tailored to the different needs of both novice and experienced traders. In addition, the client wanted to improve cost efficiency by using the new platform to offer more attractive conditions for funded trading, thus increasing market competitiveness and user retention. The primary business challenge was to find a comprehensive trading solution that ensured scalability, stability, ease of use, and cost efficiency while maintaining competitiveness in the dynamic trading landscape. Solution Devexperts proposed DXtrade as the optimal solution for the client’s challenges. DXtrade is a comprehensive trading platform tailored to the diverse needs of modern traders. Scalability: Highly scalable architecture capable of accommodating the client’s growing number of traders without sacrificing performance or stability. Stability: DXtrade is resilient even during high trading activity, minimizing the risk of downtime and user dissatisfaction. User-friendly interface: Modern and customizable user interface that is suitable for traders of all experience levels, increasing user engagement and satisfaction. Cost-effectiveness: DXtrade allows firms to scale at the pace they need within a competitively priced model, allowing them to provide attractive terms for funded trading while maintaining profitability. Mobile apps: DXtrade comes with its own high-performance iOS and Android app complete with the firm’s logo and branding. Competitive advantage: DXtrade’s state-of-the-art features and functionalities, will help the client stand out in the market, attract new users, and boost retention. In addition, Devexperts takes care of the integration with liquidity providers and market data sources, saving the client time and resources otherwise spent on integrating these services. This ensures a seamless experience for the client and allows them to focus on their core business. Results The client experienced remarkable results upon installing DXtrade, with the solution being delivered within an impressive two-week timeframe: Locked-in impressive stability: The client now had peace of mind that their platform could handle rapid growth and large volumes if it needed to, ensuring uninterrupted trading activity even during peak periods. Improved user experience: The intuitive interface of DXtrade increased user satisfaction, catering to traders of all experience levels. Access to a reliable mobile app version also boosted engagement with end-users able to trade on-the-go, anywhere, anytime. Cost savings: By leaning on Devexpert’s expertise, the firm saved both time and resources and secured a quality product designed for longevity and capable of supporting them through all future phases of their journey. We were able to execute this project fairly easily, as we have a lot of experience in helping younger firms who are experiencing growth to integrate DXtrade. They normally make this move so they can provide reliable services to their end-users, and not risk poor performance just as they are starting to expand. The mobile app was a big win for this client, as independence was important to them. They wanted to be able to control their operations down to every detail, ensuring they were not reliant on any other firm’s approach. — Olga Von Bahr, Account Manager, Devexperts Because we were quite new to the market, and were at an important point in our growth, we needed a vendor that was going to be really straight with us—we needed a quality solution with quick delivery, that was going to help us live up to the trading experience we had indicated we were going to provide to our traders. Devexperts came up with a solution and rolled it out in a matter of weeks. So far the results have been positive and we feel we are in good hands. — Product Manager, the Client
Boosting Trade Capacities for a Major Prop Trading Firm June 13, 2024 About the Client This funded trading firm stands out for its unique trading experiences. They offer themed challenges to traders across the globe, attracting over 100,000 live accounts. The client is known for its user-oriented culture and community. They have a vibrant community on Discord, nurturing strong engagement. They intend to protect this reputation with consistent service delivery and platform performance. Business Challenge Due to an unexpected blanket cancellation of trading platform software licenses triggered by a catalyst beyond their control, the firm suddenly needed to find a new vendor that could help them get their services back up and running as quickly as possible. Simultaneously, they also needed to address existing stability concerns that they had been experiencing. Their volume of users was expanding rapidly (great), but the previous infrastructure hadn’t been able to accommodate peak user activity. There had been instances of latency and sub-par performance. The client wanted to address this without jeopardizing the positive CSI they had established, which was fuelling their growth. They needed a solution that would immediately resolve the performance issues, and also be suitable for their continued expansion plans. The client wanted a vendor that could demonstrate they had already successfully deployed similar solutions for other prominent global CFD and cryptocurrency brokers. Devexperts ticked all the boxes: They would get them back up and running within a matter of days, address all their performance concerns, and they could demonstrate a large number of successful outcomes in almost identical scenarios. Solution To address the challenge of accommodating high user volume, Devexperts proposed the deployment of multiple instances of the DXtrade trading platform. DXtrade Web Terminal By dividing the user base into two separate instances, the client would be able to mitigate the risk of performance degradation during peak hours of user activity. This approach addressed the client’s two major challenges: It ensured that the platform could maintain optimal performance levels even when experiencing high levels of user traffic; preventing slowdowns, failures, or outages that could disrupt trading activities. By distributing the user load across multiple instances, the solution would support scalability and easily accommodate future growth and expansion plans without sacrificing productivity. The solution design also included a third important aspect: Optimizing integrations. Devexperts paid special consideration to the integration of DXtrade with the client’s partner CRM. This was essential for enhancing efficient communication and data exchange to improve overall user experience and client relationships. Results Two instances of DXtrade were successfully implemented, along with a smooth integration of their CRM partner. In a matter of weeks, the dual instances of DXtrade strengthened platform performance, successfully providing a new level of resilience for peak periods and future increases of volumes. Additionally, the seamless integration with their CRM highlighted DXtrade’s adaptability, saving time and optimizing communication and data exchange. Delivering two instances of DXtrade for scalability not only provided an attractive timeline for implementation, but it made sense. The client will be well-equipped to handle future increases in user volumes. — Olga, Account Manager, Devexperts Devexperts provided us with a solution that surpassed our expectations. We have peace of mind that the platform now runs smoothly, even during periods of high user activity. Their expertise in handling the transition and integrations allowed us to focus on the trading experience for our users. — CEO, the Client
Scalable and Reliable Trading Technology for a Startup Funded Trader Firm June 12, 2024 About the Client The client is a funded trader firm based in the UAE, with young and ambitious entrepreneurs from different regions at its helm. Despite being a new startup with a level of industry experience still in its infancy, they managed to create an attractive foundation that was garnering traction. The firm was at a critical pivot point where it needed the right technology to help it maintain this momentum and solidify its reputation, without breaking the bank. Business Challenge The firm had created a technology focus within its brand identity. This was a strategic move as it aligned with its target audience’s priorities. They needed to deliver on this expectation by providing a platform with modern UI, and competitive functionality to attract new traders. At the same time, their growth was starting to take off, and therefore they also needed a platform with the flexibility to scale with them at the pace they needed, that was within their budget. Solution The client was attracted to Devexperts because of their portfolio of startup firms that had switched over to DXtrade with success. DXtrade Web Terminal The Devexperts team understood what stage they were at, and the opportunities and limitations that came with this. With their tonne of experience in similar scenarios, they quickly identified and proposed DXtrade SaaS as the best fit. DXtrade Web Terminal DXtrade SaaS can be easily scaled at the tempo the client chooses. Funded trader firms gravitate to Devexperts for this reason: they get a reliable, high-performance, compliant product that still gives them plenty of room to move. Under the hood, the architecture (belonging to a single instance of DXtrade) can easily handle the load of thousands of online accounts simultaneously, ensuring seamless performance even during peak trading periods. DXtrade Web Terminal Another major drawcard that sealed the deal for the client was Devexperts’ approach to mobile applications. They provide brokers and props with their own app (not shared with other brokers), reducing the risk of being swept into any collateral damage. With their tech-heavy branding, this tied in very nicely, with the ability to give their traders the option to trade on-the-go using iOS or Android. Result The Devexperts team makes it a point to be as available and responsive as possible, particularly for clients with less industry experience who may have additional questions or concerns. Together they worked to integrate DXtrade smoothly, with constant communication to identify and overcome any disruptions to service. Following the successful integration of DXtrade, the client achieved: Enhanced Performance: DXtrade SaaS allows significantly improved service performance, ensuring uninterrupted access for traders, even during peak periods. Improved User Experience: The intuitive interface streamlined trading processes, boosting efficiency and satisfaction among traders. The modern UI matched the expectations that their branding created from traders. Mobile Accessibility: Native mobile apps for iOS and Android provided traders with the flexibility to trade on-the-go, aligning with the priorities of their end-users. Peace of mind that they had infrastructure capable of scaling: The client felt secure with the freedom to grow and evolve their offering within their DXtrade SaaS license, and beyond if needed. Our partnership with Devexperts was a factor in our success. The results we have seen, from the platform’s performance to positive feedback from traders on the interface design and mobile accessibility, was in sync with our company’s core strategy. — Director, the Client Our priority is to align with our clients’ goals and deliver solutions that meet their requirements. By closely collaborating with their team, we’ve worked to understand their specific needs ensuring it aligns with their objectives. — Olga Von Bahr, Account Manager, Devexperts
Urgent Solution for Funded Trader Firm: Platform, Liquidity, and Market Data June 10, 2024 About the Client The client was founded in early 2021 and quickly moved into the funded trader sector with the aim of redefining standards and serving forex traders worldwide. While the founders initially lacked financial knowledge, their sales and marketing skills propelled them forward. The firm’s move to introduce a single-phase evaluation program shows their focus on accessibility for traders. Business Challenge Previously, the client had been working with a complete turnkey solution that avoided the complexity of sourcing liquidity providers, accessing market data, and integrating news feeds. However, when circumstances necessitated a move away from the previous solution they faced a significant dilemma. Despite being a high-performing firm, given that they are relatively new to the industry, they didn’t have the luxury of building up the long-term experience required to navigate the challenge. This became a critical hurdle. To overcome this they needed a ready-made solution covering all aspects of trading activities. The client sought a solution that would work seamlessly from the outset, to reduce the time and resources to coordinate the various components and ensure uninterrupted operations. Solution DXtrade proved to be the ideal approach to our client’s urgent challenges. The client needed a turnkey solution that included a trading platform, liquidity provider connectivity, and market data; and DXtrade ticked all the boxes. DXtrade Web Terminal They also chose Devexperts so they could lean into their experience in the financial sector, and allow their deep understanding of the market to help guide effective decision-making. DXtrade Web Terminal Devexperts acted as a strategic consultant. They took the lead in finding a solution for the client, exploring the best avenues for smooth and fast implementation, taking away any guesswork for the client. DXtrade Web Terminal Leveraging on dxFeed‘s expertise in providing market data further enhanced the platform’s capabilities and ensured seamless trading operations. Results Within a few days, thanks to Devexperts’ efficient and expert advice, the client received a turnkey solution tailored to their specific needs. The integration of Devexperts’ DXtrade platform, complete with liquidity providers and market data via dxFeed, provided the client with the infrastructure they needed to quickly resolve the urgent technology inadequacies they faced. This was a notable win for the client because they avoided having to use a bandaid solution for the sake of time. DXtrade, a resilient, reliable, and leading offering, was implemented quickly, without interruptions to service. This project is a great example of Devexperts’ strengths: authentic experience in the field, quality products with evidence-backed performance, and fast implementation timelines. It’s rare that there isn’t some degree of time sensitivity with a project, so although the client had high expectations in terms of turn-around, this was something we were used to. Luckily there were no setbacks in the implementation phase, and we were able to get them up and running within the period they needed. — Radoslav Shalliev, Account Manager, Devexperts We work with a lot of new and mature startups, and we believe it’s because we can provide a pretty unique level of guidance and support. Sometimes to avoid dragging out costs and resources, it does come down to experience. We’re happy we can play this role for clients if they need it. — Jon Light, Director Product Management, Devexperts We were in a time crunch and Devexperts were able to come up with a solution for us. We told them what we needed, and trusted them to get it right. Thankfully we were in good hands, and they pulled it off smoothly. — Product Director, the Client
Trading Platform for European Funded Trader Firm May 22, 2024 About the Client The client is a leading force in the funded trading industry. They have solidified their presence as a leader in the European markets and beyond, serving over a million live accounts. Business Challenge The client knew that to meet the diverse needs of their large network of traders, an upgrade of their infrastructure was crucial. They also needed to ensure seamless platform performance amidst rapid growth. The client’s key priorities: Establish effective charting functionality within their trading platforms, given the prevalence of short-term trading. Scalability: Implement a platform solution that can handle increased user activity without sacrificing performance or stability. Mobile versions of their platform on both iOS and Android devices: Advanced accessibility to meet the needs of their traders. Solution Devexperts is familiar with the distinctive challenges that high-volume funded trader firms face. DXtrade CFD is a product that features scalability, seamless integration capabilities, cost efficiency, and advanced functionality to boost retention. This made it an excellent fit to address the client’s challenges, with demonstrated success as a solution in almost identical scenarios for other firms. The added benefit was that Devexperts is extremely experienced in transitioning firms to the DXtrade CFD platform. We assist with the onboarding, configuration, and training of personnel. The APIs are straightforward to understand for the developers who take care of the data migration when integrating with DXtrade. The extensive experience means Devexperts are well-prepared to manage and mitigate common and uncommon challenges that might arise during a migration. DXtrade CFDs role in the solution: DXcharts DXtrade CFD offers a robust suite of advanced features and tools to empower traders in executing strategies with precision and efficiency. The DXcharts charting library (a platform add-on we offer) includes 100+ indicators and 50+ drawing tools for technical analysis crucial for traders’ decision-making processes. Modern interface with intuitive UX/UI Traders can effortlessly access key functionalities, ensuring informed decision-making and swift action in a fast-paced trading environment. Cost efficiency The solution offers competitive pricing models and flexible licensing options, tailored to varying budgetary constraints, ensuring maximum ROI for funded trader firms. Scalability Built to adapt, DXtrade CFD seamlessly accommodates evolving business needs, scaling effortlessly to meet increased user volumes and transaction loads. Seamless integration The trading platform seamlessly integrates with existing systems and partners over API. This ensures smooth data exchange and workflow automation. Mobile applications In addition to the web platform, Devexperts would provide the client with two mobile applications for both iOS and Android platforms. These applications offer traders the flexibility to access the platform on the go, ensuring they can monitor market movements and execute trades from anywhere, at any time. Results With the enhanced functionality and interface, advanced charting, and seamless integration capabilities, traders experienced a significant improvement in their overall trading experience. The white-labeled, independent mobile apps also proved to meet the needs of the client. Their logo and brand colors were applied to the apps, providing a consistent brand experience for their traders. The implementation of our trading platform solution overcame all of the client’s challenges, providing significant benefits. It was insightful working with such a well-known firm. Luckily, we had applied similar solutions for brokers operating with comparable volumes, taking away any guesswork needed. We went into the project confident, knowing that we could provide results that were going to meet their needs, and ideally leave the client impressed – it seems we achieved this, which is great for all involved. — Borislav Alendarov, Trading Operations Manager, Devexperts The client needed a charting solution that was responsive and nimble, both on desktop and mobile. We were able to deliver that for them, with DXcharts. We are constantly enhancing and updating features and deeper customization options, ensuring that traders have access to the latest tools and capabilities. Best of all, these updates are provided to our clients. This means that traders who choose DXcharts can enjoy new functionality as soon as it’s released. This commitment to providing value-added services underscores our dedication to driving trader success. — Denis Krivolapov, Product Manager, Devexperts The level of personalized care that we got during the project was quite impressive: the implementation, launch, configuration and fine-tuning… We would feel comfortable recommending Devexperts to any broker or a prop looking to upgrade to a provider that has a knowledgeable, experienced, professional team. — Product Director, the Client With a million+ live accounts, this client trusted us to carry out the project with seamless execution – it was important for us to get this right, with no setbacks. Thanks to our experienced teams we delivered, providing them with the web trading app, mobile apps, and scalable platform that they needed to remain one of the most competitive firms in the industry. — Jon Light, Head of OTC Platform, Devexperts
A Trinity of DXtrade, Devexa, and DXcharts to Power a Funded Trader Firm May 17, 2024 About the Client The client is a young and ambitious capital-backed trading firm based in Europe. The firm is generating traction by disrupting the market with a progressive approach to servicing funded traders. They run a ‘no challenges, instant funding’ model, and have distinctly concise, transparent, no-padding comms and branding. Although they are comparatively new on the scene, they know how the industry works (clear from how they’ve managed to carve out a niche). Their expectations from technology vendors match their ambition: they are driven and want to deliver a certain standard, with whatever functionality is needed to do so, even if it doesn’t exist yet. Business Challenge As a rapidly growing firm, the client faced a two-pronged challenge in meeting the evolving needs of their expanding user base. Firstly, they required a trading platform solution equipped with professional-grade charts for technical analysis, enabling users to trade directly from it — a critical necessity for their predominantly short-term trading activities. Secondly, as the company experienced rapid growth and increased user numbers, they sought a solution that could scale seamlessly without compromising the quality and performance of the trading platform. In essence, the client’s requirements reflected the twin imperatives of delivering advanced functionality to support professional trading activities while ensuring the platform’s ability to adapt and scale in lockstep with its burgeoning business growth. These were the client’s initial challenges when first engaging DXtrade, but as we learn in the results section, the partnership evolved into an example of what is possible when an ambitious client with specific goals partners with a flexible vendor. Solution DXtrade CFD SaaS Devexperts offered the SaaS trading platform, DXtrade. The platform is complemented by DXcharts, a feature-packed library, carefully developed to support advanced technical analysis tools and seamless trading directly from the charts — a critical feature for the predominantly short-term trading strategies favored by the client’s user base. One of the key strengths of the solution was the scalability and customizability of the platform. DXtrade SaaS is designed to seamlessly adapt to rapid growth in user numbers without compromising productivity or performance. This flexibility allowed the client to focus on their core business objectives, with peace of mind that their trading platform could evolve effortlessly with their growing user base. Inside the DXtrade SaaS trading platform Devexperts also offered round-the-clock support, meaning the client would receive immediate assistance and guidance when needed. Within a few weeks, the client launched on DXtrade SaaS. DXtrade is the ideal platform for props as it gets them up and running quickly with a full package solution, and then gives them the support and flexibility to scale and grow at whatever pace they need. — Jon Light, Director, Product Management, Devexperts DXcharts The DXtrade platform and DXcharts (the version at the time) were successfully implemented for the client. Although Devexperts landed the deliverables, the client identified additional needs from the charting. There were other features and capabilities that they believed would make it a stronger product; obviously for them specifically, but also more broadly for the market. For Devexperts, the general approach is ‘if it makes sense, we’ll find a way to do it’. This is how the new version of DXcharts came to be. It wasn’t just a few tweaks to cater to the client’s extra needs, it turned into a full-scale revamp, with a ‘while we’re at it, why don’t we optimize 𝔁 and 𝒚, and add 𝔃’ approach. The client was willing to pilot the modernized version, and being satisfied with the results, became pioneers of the new DXcharts. Example of DXcharts’ Web UI Customizable DXcharts Mobile, ready for white-labeling As the product manager for DXcharts, this project stands out, as it led to a new version release. We are always focused on regularly updating our charts with the latest features, and when these advancements can be driven by real scenarios constantly appearing on the radar of brokers, the result will always be more optimal. — Denis Krivolapov, DXcharts Product Manager, Devexperts Devexa This success coincided with the launch of a separate R&D project. Devexperts had been experimenting with an AI-powered solution that could be embedded within a firm’s trading platform as a widget, to bring together in one place, all the different technology functions a firm needs to run for engagement — automated chatbots, messaging channels (WhatsApp, Telegram, WeChat etc), group chats, syndication of market news feeds — all synced for ridiculously streamlined engagement. Think targeted broadcasting, push notifications, marketing campaigns, account support, and customer support, all executed from one widget. Devexa’s Operator Workspace Devexa Widget inside DXtrade The project, now known as Devexa, aligned with the client’s engagement and retention needs, and they quickly became a guinea pig. This style of collaboration between vendor and broker is super productive; everyone benefits: the client gets a first-of-its-kind technology, tailored to their needs, and Devexperts launches a product already tried and tested, with real benefits for other brokers, pushing the industry forward. At the client’s request, Devexperts upgraded Devexa by incorporating trading history and user portfolios into its analytics. This enhancement allows Devexa to personalize news for each trader based on their specific data, using its AI-driven recommendation engine. To further enhance engagement, Devexa now sends targeted news directly to users, with real-time notifications designed to prompt immediate action. This development was a collaborative effort, tailored to meet the client’s specific needs. Additionally, the client and Devexperts can adjust the intensity of these notifications by fine-tuning the recommendation algorithms. From a vendor perspective, this is the ideal type of client. They provide feedback and areas of improvement, and then are willing to pilot the response, allowing all parties to progress. We have to say that we are thankful to this client, it was mutually beneficial to a degree that is unusual for typical Devexa licenses. We hope we can foster more client relationships like this, so our products keep evolving in tandem with what the market needs. — Togay Aytemiz, Product Manager, Devexperts DXtrade Enterprise After about eight months in production, the client realized they wanted greater influence over the product backlog of DXtrade. As their long-term vision required more flexibility than what a standard license could offer, Devexperts upgraded the client to a DXtrade Enterprise. Under the Enterprise agreement, the dedicated delivery team is looking after the client, and both the priorities and the exact requirements are in the hands of the client, offering limitless possibilities. We wanted a vendor that was willing to think outside the box with us, and not be rigid with what they could and couldn’t deliver. Devexperts really did this – they were receptive, took on board the gaps we were able to find in their products, and went beyond a SaaS style engagement to adapt the products to what we needed. — Director, the Client Results The client began with the default SaaS option of DXtrade, then drove the evolution of DXcharts, upgrading and piloting the new release. They then opted in for Devexa and increased the number of use cases for the AI-powered omnichannel platform. For the cake-topper on the partnership, the client later realized they would like to influence the product backlog of DXtrade. Their longer term vision required more flexibility than a standard license allows, so Devexperts was more than happy to accommodate this by upgrading the client to an Enterprise license where anything is possible. We are working with a lot of firms, both start-ups and the more established ones, but this client stood out—they knew exactly what they wanted, and are very driven and focused on growth. They made their expectations from us clear and emphasized the importance of a quick and smooth implementation. We have worked tirelessly and continue to do so in delivering high-quality software and tools, allowing them to make the most of the momentum they are experiencing. — Olga Von Bahr, Account Manager, Devexperts
Trading Platform for a Funded Trader Firm in MENA Region May 9, 2024 About the Client With a global network of traders, this client is a formidable presence in the funded trading industry. The Middle Eastern firm operates internationally from Dubai and has no plans of slowing down or plateauing. Their focus remains on retention and evolving where needed to continue rapid expansion of their user base. Business Challenge The client was ready to scale with ambitious growth plans, but this required a trading platform capable of supporting this trajectory. They also outlined additional objectives: User analytics indicated their clients liked to trade on the go. They needed native mobile applications for Android and iOS. Connectivity with liquidity providers, through FXCubic aggregator. The client was seeking a vendor that could provide an all-encompassing solution. Solution Platform capable of supporting growth DXtrade is a white-label platform with a proven ability to grow with a business of a broker or a funded trader firm. It has allowed both start-ups and established firms to significantly expand their user base, without compromising performance. Mobile trading DXtrade includes a duo of independent, native mobile apps. The exclusive app would mean the client is not subject to the risks associated with a pool application app (where a vendor’s app is shared by multiple brokers). This would give the client a level of control, flexibility, and security optimal for growth, along with meeting the expectations of their clients —trading on the go, with a responsive app. Connectivity with liquidity providers Although FXCubic integration (a priority liquidity aggregator for the client) was not originally included in the basic DXtrade SaaS package, Devexperts typically includes such integrations at no additional cost. This benefits this client and everybody else running their business on DXtrade. Personalized delivery and maintenance As part of our DXtrade SaaS offering, the client would benefit from 24/7 technical support, with immediate access to a team of experts, on hand to provide guidance whenever needed. Results DXtrade’s solution was implemented within just two weeks. FXCubic was successfully integrated; the integration project team faced no impediments, thanks to the standard FXCubic API and the availability of numerous ready-made connectors, adapters, and tools for connecting liquidity providers and aggregators. The accelerated process both sped up the time to market, and reduced costs and resources, helping the client remain aligned with budget targets. The smooth transition to the new platform was enthusiastically received by traders, with the native mobile app allowing them to access the platform anytime, anywhere. The project was a success, with each of the client’s objectives met, and their expectations around quality, flexibility and execution of delivery exceeded. This was an interesting project to work on — although it seemed like a standard, straightforward platform transition to DXtrade, it’s not unusual that we encounter unexpected obstacles within the client’s existing infrastructure. In this case, it was facing the loaded backlog, but we overcame this in a professional manner, and managed to deliver on our promise. — Olga Von Bahr, Account Manager, Devexperts Devexperts were flexible, especially around our liquidity integrations, and the communication was always clear. They are responsive and willing to adjust the project and timelines to make sure the execution is right. — Project Manager, the Client
Engagement and Retention Tool for a Funded Trader Firm April 10, 2024 About the Client The client is a young and fast-growing funded trading firm in Europe. Business Challenge The client faced a number of challenges related to high customer churn rates and satisfaction. Their marketing resources were solely focused on acquiring customers, without adequate retention efforts. The client was seeking to enhance user engagement reduce the percentage of users switching to competitors scale their operations without proportional cost increases. The client’s hypothesis was that generative AI could make the platform stickier and that AI integration could be a recipe for increased user engagement, tailored entertainment, and ultimately, business growth. Finally, as the client was running on DXtrade, a white-label of Devexperts’ CFD platform, the ideal solution would require native integration with the platform’s web terminal. Solution Devexperts proposed to enable Devexa inside DXtrade and use it to tackle these challenges. About Devexa Devexa is an omnichannel communication platform tailored for brokers and prop trading firms. It combines live chat, video calls, screen sharing, broadcasting, and chatbots into a single interface. This integration allows real-time engagement and support for traders, while also enabling firms to track users’ interactions with a trading platform, and gain insights to enhance the customer experience. The platform features AI-driven content personalization, based on user’s interests and smart push notifications. These features ensure traders receive customized content and timely alerts, fostering greater engagement and satisfaction. With Devexa, traders receive relevant market information, business news, and alerts. Businesses enjoy increased engagement, satisfaction, and trading volumes. Devexa is fully integrated with the DXtrade platform and can be activated upon clients’ request. Devexa widget inside the DXtrade platform Project Charter After a series of consultations, the client and Devexperts defined the key hypotheses: A new stock market news feed with personalization:In order to improve the user activity and engagement metrics, the new stock news feed is to be plugged into Devexa. Devexa can fetch the news upon traders’ request and the embedded AI recommendation engine inside Devexa would reshuffle and filter the news based on the traders’ account. Stock news push notifications: To bring engagement to a whole new level, Devexa would push relevant news to online users. As the news and their relevance to the given user are calculated, real-time notifications can act like a squawk box, alerting traders to act. The client and Devexperts can control and gauge the aggressiveness of the notifications, by tuning Devexa’s recommendation algos. Dutch language support: Devexa is to enhance its list of supported languages by improving support for Dutch. This upgrade would enhance the user experience (the client’s users are predominantly Dutch-speaking), increase user engagement, and improve retention. Implementation Devexperts enabled Devexa inside DXtrade for this client. An example of a personalized news feed compiled by Devexa and streamed into DXtrade Integration of StockNewsAPI.com Devexperts integrated StockNewsAPI.com into Devexa, extending the list of supported news feeds. Devexa Backoffice: Operators have the ability to select multiple news feeds from a given list of news sources Personalization Devexa already had AI in service: it uses neural networks and machine learning algorithms for natural language understanding, intent classification, retrieval-augmented generation, and news feed ranking. In the scope of this project, Devexperts added account trading history and users’ portfolios into the data used by the recommender system. User’s traded symbols will be utilized in the recommendation engine It turned out there are differences in the usage patterns between the clients of prop firms and the clients of brokerage firms. It was quite insightful to analyze these differences in the datasets on the way they use the trading web app, the AI assistant widget. — Ivan Kunyankin, Senior Data Scientist, Devexperts Devexa Backoffice: An example of ML classification of a user (on the right) Devexa Widget: Personalized news feed with quick trade buttons, light mode vs. dark mode Push Notifications Devexperts developed a custom news feed module within the platform, ensuring real-time delivery of relevant news updates to traders. They also implemented a push notification system to alert traders of important news events, enhancing user engagement and providing valuable market insights. Devexa Widget: Users receive notifications when new items of interest are published Push Notifications Tuning The first rollouts of the feature received mixed feedback. While Devexa ensured that traders received only relevant and timely news notifications, some users complained that the news buzz was quite noisy and annoying. The client and Devexperts team tried several versions of the recommendation engine, considering intermittence, and various heights of the relevance threshold. Eventually, the feature was refined to strike a balance between providing timely, relevant updates and reducing information overload. Widget designs seek balance: Engagement vs. retention Widget Redesign The testing has shown that the push notifications – especially when their frequency is intense – break the default conversational UI of Devexa: the news would interfere with the chat design. That triggered a rethinking and prompted a comprehensive redesign of the Devexa widget to accommodate for different user scenarios: live chat, AI assistant, company announcements, and market news. The new UI features separate tabs, for Support and News Feed, providing a more intuitive and streamlined interface for traders. Dutch Language Support Devexa employs proprietary in-house neural networks to process natural language for prioritized languages and fallbacks to cloud AI for less commonly used languages. In the scope of this project, Devexperts has enhanced support for Dutch, the main language of the client’s user base. Devexa Backoffice: Operators can edit responses used in Dutch conversations Devexa Widget: An example of a user dialog in Dutch Results The client was provided with a package of DXtrade and Devexa. Devexa has been enhanced to specifically address engagement issues, in addition to its existing communication features. Following the delivery, the client analyzed the user’s feedback and suggested further refinement. After a few iterations, Devexa precisely met the client’s expectations. The client achieved enhancements in their user engagement. This was the first launch of Devexa with a funded trading firm. The fact that most of the features requested could be delivered in weeks, suggests that our positioning, which initially targeted brokers, works for the funded trader companies, too. We’ll continue to strive for excellence as we further refine and enhance Devexa. — Togay Aytemiz, Product Manager, Devexperts. We have enhanced Devexa’s communication capabilities and further tailored it to trading domain scenarios. We have expanded our personalization engine, creating possibilities to personalize the user experience beyond the news feed. Now, all our clients, both prop trading firms and traditional brokers, can enjoy this ML upgrade.” — Ivan Kunyankin, Senior Data Scientist, Devexperts. We are always looking for new ways to increase LTV and improve user engagement. With DXtrade being end-user-facing, we wanted the DX platform to be more stickier. And with the GenAI hype, we were keen to integrate some AI features and let our users have fun with it, if not get a real value out of it. The Devexa team worked swiftly and we enjoyed their friendly, responsive and agile approach. I quite liked your responsiveness and willingness to accommodate our feedback and suggestions for further improvement. — Director, the client
