Developing an Open Forex Trading Platform with a Built-in App Store September 3, 2021 About the Client The client is an EU-based fintech startup established in the 2010s by a team of senior experts from the Forex trading industry. The company provides brokers with an open API FX trading platform featuring an embedded app store. The app store enables traders to install free and paid third-party applications (e.g. automated trading tools, algorithmic trading strategies, social trading apps, charting tools, market news, etc.). These apps allow FX/CFD traders to build their own integrated trading environment. The client has offices in Copenhagen, London, and New York. Business Challenge In 2012, the client identified a gap in the financial software market. The market lacked a trading platform for brokers that would also connect traders and developers. They decided to turn this gap into a business opportunity by developing the industry’s first trading platform equipped with an integrated store with custom applications. The client also required an open API, so anybody willing to contribute to the platform could develop a custom application. Traders, meanwhile, would be able to leverage the apps to create custom platform layouts. The platform was intended to continually evolve as new tools would have been built by the developers’ community. This would ensure that traders’ ever-changing needs would always be met. Such innovation had not been developed in the financial software industry yet. After a new round of investments, the client decided to hire an experienced financial software development company to work on this project. Solution The client approached Devexperts with this project due to their previous successful collaboration. The client knew Devexperts had the needed expertise to facilitate the project release within a short time frame and with all the intended features. As the basis for the client’s product, Devexperts took DXtrade Enterprise, our multi-asset trading platform, and introduced several customizations. We developed an app store from scratch and integrated it with the trading platform. We also equipped the platform with a dealing desk for brokers’ risk management teams and a mobile trading frontend based on DXtrade Mobile. To turn the client’s idea into reality, we developed an open API that developers could use to create applications for the platform’s app store. Trading platform’s workflow Results Devexperts developed and launched the first-ever open FX/CFD trading platform with an integrated app store and open API. This setup enabled traders to create their own trading environment using third-party applications developed specifically for this ecosystem. Traders could choose from an extensive catalog of globally crowd-sourced apps that would correspond specifically to their needs. Upon release, several financial and tech organizations developed apps for the platform, leveraging Devexperts’ open API. Thus, the app store was filled with custom automated trading tools, algorithmic trading strategies, social trading apps, charting tools, and market news. By the time of the platform’s release, the client had also onboarded their first six brokers regulated by the Financial Services Authority (now the Financial Conduct Authority). The trading platform was awarded “The most innovative financial product” at the Forex Magnates London summit.
Custom Web Trading Terminal for a Retail FX/CFD Broker May 27, 2021 About the Client The client was an online trading pioneer: they have been around since 2006. The company was founded through the collective efforts of finance specialists working in the commercial Internet area. Their goal was to equip private traders with the best working conditions through world-class technology. The company is now one of the most secure FX/CFD brokers in the industry and works under seven regulations across six continents. Business Challenge The client wanted to differentiate themselves from competitors and provide traders with more value. They commissioned Devexperts to create a unique web trading app that would be convenient for both beginners and experienced traders. The UI was to be easy to understand and fully functional. Devexperts had already implemented a custom mobile app for this client. Given there were users who did not wish to install it for some reason, the web app needed to run smoothly both on desktop and mobile devices. Another challenge was to implement an interface, which would support left-to-right and right-to-left languages. Solution The client wanted a unique UI so Devexperts created the trading interface from scratch rather than customizing a standard one. Cost-saving was attained by reusing the backend code of the mobile app. The majority of the work was on the frontend. The client had many ideas and needed hands-on experience to test them. For this purpose, a web app prototype was created. As soon as it was validated, subsequent iterations required additional functionality. A thorough approach at the design stage allowed the developers to consider all the tiny details for different language versions such as different button lengths and so on. The unique interface required creative solutions. For example, the order entry element wasn’t a pop-up window as usual. Instead, it was designed to be a side panel. The main benefit of this solution is that after opening an order entry, the user will continue to see everything on one screen: chart, watchlist, list of positions, and the order entry. Moreover, in the order entry, the client decided to get rid of the limit order and market order terminology to simplify things for inexperienced traders. In the next stage, Devexperts developed the web app functionality. The frontend was implemented with React technology. The desktop and the mobile versions were rolled to different URLs. Devexperts intentionally didn’t implement responsiveness because the UI for web and mobile were too different. Devexperts reused the frontend code on both platforms to help achieve economies of scale. Results Devexperts successfully launched the innovative web trading platform for traders looking for a simple and uncluttered interface. All platform services are available on one screen, making this solution quite a novelty on the FX/CFD market.
DealBook® 360: Pioneering the International Retail Forex Industry with Technology April 15, 2021 GFT Markets wanted to pioneer the international retail Forex industry, so it needed a powerful trading platform. Devexperts took on the development, and that’s how legendary DealBook® 360 emerged. About the Client Company typeRetail forex brokerageYear of foundation1997Asset classesFX, CFDs, spread betsLocationMichigan, United States GFT Markets was a brokerage company established in 1997 in the USA. It provided its customers with the opportunity to trade in a broad range of markets, with offices in Sydney, London, Singapore, Grand Rapids, New Jersey, Tokyo, and Dubai. The brokerage held leading positions worldwide in retail Forex, spread betting, and contracts for differences. It offered trading services to traders directly, as well as via dozens of institutional partners through white-labeled versions of its renowned Dealbook platform worldwide until it was acquired by GAIN Capital in 2013. It was registered with numerous regulatory bodies, including the CFTC, NFA, FSA, JFSA, and ASIC. Challenge The case goes back to 2002 when GFT used to be smaller and was based solely in Grand Rapids, Michigan. They had ambitions of expanding globally and pioneering international retail Forex markets. To do that, they needed a flexible modular trading platform from a reliable software partner. New functional and performance software requirements would emerge along with GFT’s business growth and a steady increase in their retail and institutional customer base. Due to this, they required a software services partner to be able to scale the development according to their growing demands. For international expansion, a software vendor also had to adapt a trading platform and the development process to various international regulations and business continuity and governance standards. Solution Devexperts took on the development and successfully delivered DealBook® 360, a platform for Forex and spread bet trading. It was a complex trading solution intended for the global business community (banks, Forex brokers, hedge funds, financial services companies, etc.). The platform equipped all groups of users with advanced and feature-rich software interfaces for the most intelligent business approach by automatic trading strategies, flexible permissions, real-time risk management, and a customizable software environment. In the course of operations, the Devexperts modified the trading platform for easy and fast white-labeling that was based on: The platform’s flexible architecture, which required little development work to replace all application text variables and skins without additional costs. Easily tuned application settings: the platform provided a fine-tuned interface that could be flexibly customized according to personal and business requirements. Devexperts and GFT Markets grew together with the industry. The client’s extensive use of white-labeling quickly made it one of the top three US Forex brokers. GFT Markets’ business model of having many local partners (introducing and omnibus brokers) provided successful global expansions with a presence in Europe, Japan, Australia, and the Middle East. At its peak, Devexperts supported over 300 white-labels of DealBook® 360 in 25+ languages and 120+ countries. This in turn allowed GFT Markets to stay within the Top 7 worldwide brokers with an average monthly trading volume of 200+ billion USD. Timeline Stages of the platform’s development and client’s business expansion: 2002 Devexperts implements multi-currency accounts, as GFT starts operations in Japan and opens its Tokyo office 2003 Devexperts releases a major platform update (branded Dealbook2) and introduces Chart Studio IDE—a development environment for technical analysis with custom indicators and automated trading 2006 The platform is updated with CFD/SB trading for multi-asset trading capabilities aimed at UK clients CFD/SB 2007 Devexperts introduces a major update, and the flagship trading platform is rebranded as Dealbook360 Devexperts delivers the web trading platform DealbookWEB 2011 A new asset class, FX options, becomes available for traders in the trading platform FX OPTIONS 2012 Devexperts releases the Dealbook Mobile platform developed natively for iOS and Android 2013 GAIN Capital acquires GFT Markets Results Devexperts developed the platform that became the gold standard in trading and made GFT Markets a leader among forex brokers. The client served a customer base in over 120 countries, and their results were overwhelming: GFT Markets partnered with hundreds of institutions by building up to 300 white-labels of the platform localized in 20+ languages. Since the inception of GFT’s worldwide expansion strategy, and for over 10 years, Devexperts was solely responsible for developing and maintaining the entire trading technology and hosting infrastructure. In addition to the mentioned white-labels, Devexperts provided integrations with 15+ liquidity providers (including Tier 1 banks such as Deutsche Bank, Citi, UBS, DrKW, etc.). DealBook® 360 was also integrated with the Dubai Gold & Commodities Exchange. Devexperts helped the client successfully navigate all trading platform audits and guarantee the highest level of the business continuity standards for international expansion. Thus, GFT Markets and Devexperts pioneered and shaped the retail Forex industry through its longstanding partnership for DealBook® 360. The platform paved the way for GFT Markets to become a large global enterprise with hundreds of thousands of retail customers and dozens of B2B customers. 300 trading platform white-labels delivered 120 countries covered 10+ years of cooperation on the project 200+ billion USD in average monthly trading volume
Risk Management Tool to Protect Traders in AvaTradeGO and WebTrader October 26, 2020 About AvaTrade Company typeRegulated multinational online trading brokerYear of foundation2006Asset classesFX, CFDsLocationDublin, Ireland AvaTrade is a Forex and CFD broker with a reliable track record serving their clients since 2006. It offers a full suite of trading platforms, which includes WebTrader, a web trading terminal, and AvaTradeGO, a mobile app. Their clients benefit from personal account managers, a comprehensive collection of educational material, and multi-lingual client support. AvaTrade accommodates traders of all levels and ensures secured trading with advanced encryption and fully segregated accounts. AvaTrade is regulated in Europe, Australia, Japan, the British Virgin Islands, and South Africa. Challenge AvaTrade looked into enhancing WebTrader and AvaTradeGO with a feature that will make them stand out among competitors. Also, the company’s ongoing strategy is to put client success and satisfaction first. AvaTrade decided to implement a risk management tool that would be beneficial for traders. The aim was to improve customer retention and onboarding of new customers, including new traders. Solution The client chose Devexperts to develop and implement a new risk management tool because Devexperts developed the original AvaTradeGo app and proved to be a trustworthy brokerage software partner for AvaTrade. The new tool for AvaTradeGO and WebTrader is aimed at protecting traders from losing on their trades. Each trader’s position can be protected from a loss if a trader purchases protection and defines its duration. Thus, if a trader has an open position that has negative value by the end of its protection, AvaTrade will reimburse the trader’s account. The only expense for a trader is the protection fee. Hedging position is in turn covered in the background by AvaTrade’s FX options trading platform Sentry. The new tool was named AvaProtectTM. Users in different regions require different features. Sometimes it’s due to their habits; other times it’s because of regulation. The standard approach is to create a lineup of white-label mobile apps. The problem is that it comes with extra costs for building and testing these apps and significantly slows the pace of product delivery. Besides, the support becomes troublesome. We decided to use a different strategy to overcome this and create a single worldwide application that configures itself on the fly depending on the user’s region. We created a much more sophisticated system than a set of feature toggles based on the user’s country. The region-specific configuration starts before login; we even present the relevant information for users who’ve just downloaded the app and don’t have an account. For example, we show the onboarding screens and the workflow tailored specifically for the user’s location. Thus, we deliver the best user experience from the very first moment. By merging several mobile applications into one, we substantially improved the performance of the CI/CD system. We no longer spend resources on building several applications with different bundle IDs. Now, we build apps and deliver them to the QA team faster. Additionally, instead of testing a bunch of applications, we need to test only one, reducing the development costs and delivery cycle time. Pavel, Head of Delivery Unit at Devexperts Results Devexperts developed the new risk management tool AvaProtectTM aimed at protecting AvaTrade traders from losing on their trades. It has been rolled out in AvaTradeGO and WebTrader and appears to be a unique feature among competitors in the market. AvaProtectTM serves multiple purposes: Onboarding new traders without fear of losing money while they gain experience Retention of existing customers Providing a unique feature that makes the broker stand out among competitors Making AvaTradeGO and WebTrader compliant with the broker’s strategy of putting client success and satisfaction first.
Cryptocurrency Trading Platform with Leverage for PrimeXBT September 30, 2019 About the Customer Company typeMulti-market trading platformYear of foundation2018Asset classesCFDsLocationGordon’s Bay, South Africa, and Ile Du Port, Seychelles PrimeXBT is a Bitcoin-based platform with over $600mln daily trading volume. It was founded in 2018, and since day one, the company has been growing exponentially and currently serves clients in more than 150 countries. PrimeXBT offers leveraged trading for the major cryptocurrencies, which include Bitcoin, Litecoin, Ethereum, and Ripple. Business Challenge As of October 2018, there was a limited offer of cryptocurrency platforms with leveraged trading. PrimeXBT set out to satisfy this unmet demand. The challenge was to be one of the first to launch such a platform, with a tough launch date set for only three months. The client needed a software vendor who already had some developments to speed up the process, or could offer them an existing solution at a reasonable price. Another demand was to find the software development team ready to collaborate with the in-house developers to embed the platform into the existing infrastructure, as PrimeXBT by that time had already been working on the design of the rest system, that included client portal, payment integration, CRM, etc. No other vendor, except Devexperts, was ready to address this challenge under the client’s terms within this time frame and the allocated project budget. As the window of opportunity was closing rapidly, PrimeXBT selected Devexperts for their existing customizable solution, DXtrade Enterprise that could be slightly customized for PrimeXBT’s needs and be rolled out in three months. Solution As time played the critical role, Devexperts took their flagship solution for brokers, DXtrade Enterprise, and started to modify it according to the client’s requirements. DXtrade Enterprise is a modular trading platform that includes a vast array of brokerage business functions (OMS/EMS, risk management, pricing, on-boarding, trading analytics, and compliance). The solution consists of the order management system, the dealing terminal, web, and iOS/Android trading terminals – all white-labeled and customized for crypto trading to the client’s specifications. Devexperts made the PrimeXBT platform to be multi-asset and not limited to crypto. Apart from cryptocurrencies margin trading, the users can trade FX, CFDs on commodities and indices, all from a single Bitcoin-funded account. For the front-end terminal, the client wanted to make the platform simplified yet savvy. This kind of positioning would make Prime XBT’s platform a great option for beginners to start leveraged trading in cryptocurrencies. PrimeXBT declutters the user interface as much as possible and makes it easier for traders to concentrate. The platform received all necessary widgets: a chart with lots of technical indicators and line studies, watchlist, dashboard, positions and order history widgets. Apart from the usual order types such as market, limit, stop, the platform offers advanced OCO Orders. The layout is enhanced with the linking function: to improve response times, the chart and watchlist widgets can be linked, so when the user switches an instrument in the watchlist, the chart instantly updates. To boost trading volumes, traders are able to trade directly from the watchlist, dashboard, and chart. When the user accesses the trading terminal for the first time, he sees it in Guest mode. It is accessed under a paper money account with a “fake” balance and positions and gives a proper look and feel of the platform. It was done to improve conversion. Devexperts made several more tweaks: Implemented a number of custom reports for PrimeXBT related to account metrics. Changed the speedbump logic to finetune the execution policies on a per order type basis. Added a credit line functionality. The credit funds are separated from the balance to make it clear for the traders. Results PrimeXBT received the full-fledged trading platform for margin trading of Cryptocurrencies, Stock indexes, Commodities, and Forex. The client terminals are white labeled to coincide with the client’s brand identity. The system is flexible and scalable and ready for the influx of new users and trading volumes.
Multi-Asset Trading Platform for Alpha Capital Markets July 29, 2019 About the Customer Company typeLiquidity provider and prime brokerYear of foundation2013Asset classesSpot FX, CFDs, spread betsLocationLondon, United Kingdom Alpha Capital Markets Group Ltd. (ACM) specializes in providing B2B solutions for the industry covering liquidity, risk management, front and back-office, white label and omnibus systems giving their partners market leading technology solutions without any competition from its provider. ACM is run by industry veterans with years of experience and are always on hand to help create the perfect solution for its partners. After starting work with Devexperts in 2014, within three years they white-labeled their B2B trading platform to dozens of brokers, becoming widely known in the world of liquidity providers, leading to interest from big players in the online financial gaming industry. Their long-lasting connection with Devexperts made it possible to launch a multi-asset trading platform over a short period of time. ACM was acquired by the TradeTech Group in 2017, renamed to TradeTech Alpha and is now part of the financial division of Playtech (LSE:PTEC), a market leader in the online financial gaming industry. The team at Devexperts works side by side with our team to ensure that our IP and customizations are delivered within a short time frame and with enterprise quality. Muhammad Al-Amin Rasoul, CEO of ACM Business Challenge The main challenge for Alpha Capital Markets (ACM) was to quickly make their way into the highly competitive business of multi-asset liquidity provisioning. As a non-bank market maker with unique intellectual property amassed over the last two decades, implementing this in an efficient and short time frame was critical. In order to get there, they needed technology with the most advanced set of dealing settings and risk management features. In addition, they had to find a vendor familiar with the business challenges of a liquidity provider. The vendor was also required to understand which software components should be deployed in the first place to make the whole thing work. In order to avoid sacrifices in product quality or production time, the apparent solution to the company was licensing a ready-made technology from someone they trust. This started a new cycle of collaboration between the Alpha Capital Markets team and Devexperts. Solution The core of the solution that Devexperts provides to Alpha Capital Markets is DXtrade Enterprise, a multi-asset trading platform. It is a full stack technology consisting of customer-facing GUIs for web, mobile and desktop, dealing, risk management, and back office integrations with the client’s internal portals. ACM then took this platform and integrated ACM’s unique intellectual property revolving around pricing, order management, surveillance, and order execution into DXtrade Enterprise. ACM and the Devexperts team worked side by side in an Agile like environment. To ensure that the time-to-production criterion is met, Devexperts customized an existing proprietary technology. This customized technology was suitable to the business strategy of both an OTC liquidity provider and a B2B trading platform vendor. Among the assets that can be traded in the platform, there are Spot FX, CFDs, and Spread Bets. To effectively integrate the platform with retail brokers, Devexperts had to provide a highperformance FIX gateway solution. In the infrastructure of Alpha Capital Markets, FIX gateway supports a massive order flow. This order flow comes from dozens of brokers that use off-the-shelf products from other renowned vendors and proprietary platforms. To ensure such an intense order flow is processed, Devexperts has also provided flexible order routing and execution solutions. Market making is extremely sensitive to latency. To this end, the customer emphasized the importance of fine-tuning order processing. The system was so complex that our engineering team invested in a full-blown custom latency monitoring system that could present each stage of order execution separately. That allowed us to find all the bottlenecks and address them. We also implemented a new process for regular performance testing, which helped ensure no latency issues were introduced before changes went live. We achieved and kept an ultra-low latency despite the growing number of orders and instruments. Eugene, Head of Delivery Unit at Devexperts As dealing and risk management operations are crucial to liquidity providers, the solution incorporates dynamic A/B/C-Book order distribution by client profile, instrument, trading session, and many more categories. Results The resulting solution provided by Devexperts is a multi-asset trading platform for the OverThe-Counter market, which: supports thousands of instruments operates in both institutional and retail modes includes a REST API for B2C connections is capable of processing thousands of orders per second with a daily turnover of billions USD has an established on-boarding process for FIX API partners
Custom Trading Platform as a Method to Escape Vendor Lock-In March 28, 2019 About the customer The Customer is a public company and global leader among OTC brokers, offering web-based and mobile trading, and specializing in Forex, CFDs on stocks, indices, commodities, and cryptocurrencies. The Customer’s brokerage is regulated by the Cyprus Securities and Exchange Commission and the Financial Stability Board. It provides leverage up to 1:300. Business challenge The Customer used an off-the-shelf trading solution for the brokerage, causing a vendor lock-in. They required a custom trading solution to meet their demands in terms of onboarding and implementation of the Customer’s proprietary widgets. These means were aimed at boosting the Customer’s revenue. They also required a subsequent transfer of a trading platform source code in order to avoid vendor lock-in and to increase capitalization. Solution The Customer chose Devexperts due to their ability to develop a custom trading solution with seamless client onboarding and introduce the Customer’s proprietary widgets. Devexperts also agreed to adjust the Customer’s sales funnel to the new solution and transfer the trading platform source code after its successful launch into production. The first stage was the implementation of the trading platform frontend and order management system with the sales funnel connection. It was aimed at the seamless onboarding of new clients when users followed the ad link and landed directly on the profile registration page integrated into the trading platform. The reworked onboarding process provided a significant increase in the Customer’s revenue. The basis for this solution was DXtrade Enterprise, a Devexperts product. DXtrade Enterprise is a trading platform with a vast array of brokerage business functions. It supports a multitude of asset classes, such as FX, CFD, SB, stocks, commodities, futures, options, funds, and cryptocurrencies. It also has a modular structure with a variety of components and trading widgets, such as charts, risk management, pricing, trading analytics, compliance, and wealth management applications. They ensure the availability of the entire spectrum of platform functions ready to be integrated into the Customer’s existing infrastructure and licensed to them. The second development stage centered around fine-tuning the trading platform and implementation of the Customer’s widgets. After this, all of the Customer’s demands were met, and the trading platform was launched into production. The third stage amounted to licensing the source code to the Customer and making sure they were ready to maintain the solution on their own. After the source code was sold, Devexperts started a knowledge transfer process that took almost a year. It involved the creation of a knowledge base and training of the Customer’s development team. This team was freshly hired for the express purpose of the in-house development and maintenance of the proprietary solution. The ownership of the trading platform source code also provided the Customer with capitalization growth. Results Devexperts delivered the fully custom trading platform, fulfilling the Customer’s demands in: Particular features, including seamless onboarding with built-in trader profiles and multiple proprietary widgetsLicensing of the source code and knowledge transfer to the Customer’s in-house development team The new solution facilitated the Customer in the achievement of their internal goals of: Revenue plan fulfillmentCapitalization growth
Margin Trading Functionality for a Popular Crypto Exchange February 21, 2019 About the client Company typeCryptocurrency exchangeYear of foundation2013Asset classesCryptocurrenciesLocationLondon, United Kingdom CEX.IO is a multi-functional crypto exchange that was established in 2013. It was originally known as the first cloud mining provider and has since evolved to offer cross-platform trading services via website, mobile app, WebSocket, and REST API. With over a million users, CEX.IO has gained a reputation for being a trusted exchange with a high liquidity order-book for top currency pairs on the market. One of the unique features of CEX.IO is the availability of instant Bitcoin buying and selling via a simplified bundle interface. Additionally, the exchange has developed a multi-level account system that caters to the needs of individual customers, from beginners to institutional traders. CEX.IO has a global presence and offers multiple payment options to users. The exchange is also known for providing 24/7 support to its customers. The platform has a time-proven stability, ensuring the safety of assets and data for its users. 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 Enterprise, a flagship platform of Devexperts, so that it complies with specifics of crypto trading and the CEX.IO exchange. DXtrade Enterprise 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 Enterprise 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. We’ve done quite a lot of heavy lifting to blend these two heterogeneous system designs – a crypto exchange and an FX platform. We succeeded in stitching these two distinct worlds together seamlessly despite the challenge to achieve zero performance degradation while handling all the corner cases. We found further complications related to the crypto specifics, such as fractional order size requirements or the price precision of 12 decimal places. This level of accuracy required changes in many parts of the software, from the back end and databases to the UI. The project’s completion was a fantastic springboard to many other crypto projects for our team. Eugene, Solution Architect at Devexperts 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 Enterprise platform and effectively applied to cryptocurrency trading. Result CEX.IO received a margin trading crypto exchange 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
AvaTradeGo: A New Mobile Frontend for MT4 February 21, 2019 About the Client Company typeRegulated multinational online trading brokerYear of foundation2006Asset classesFX, CFDsLocationDublin, Ireland AvaTrade, a leading forex and CFD broker, was founded in 2006 and offers top trading platforms, and a new cutting-edge mobile app named AvaTradeGO. Clients enjoy personal account managers and a live customer service in 15 languages. AvaTrade accommodates to traders of all levels, and further ensures secured trading with advanced encryption and fully segregated accounts. AvaTrade is regulated in the EU, Japan, Australia, South Africa, Middle East & BVI. Business Challenge A trading platform is where an active client spends most of the time, and the trading platform frontend shapes the perception of the broker in the eyes of the trader. Vendors who sell off-the-shelf platforms are not eager to change much in their well-thought-of and time-tested interfaces. Such closed systems undermine brokers’ abilities to differentiate and appeal to clients through the design and other interactive widgets, as well as tracking the user activity and providing them with a corresponding feedback. This, in turn, leaves behind the abilities to reach clients and provide them better trading experience. AvaTrade has their own vision of an optimal user experience in a mobile application. That includes not only a transparent calculation of account balance while creating orders, but also a built-in account opening process, educational materials, and sharing features. These tools should guide end users through the sales funnel, help them to set up accounts, start trading smoothly, and depositing directly in the application without any distractions. According to the internal analysis the majority of existing clients use only mobile interface to monitor the market and issue the trades. Realizing the sales potential of a mobile trading platform, AvaTrade undertook the project to deliver a bespoke mobile frontend to the existing off-the-shelf MT4 terminal, to strengthen their competitive position and boost traders’ engagement. As there were not any out-of-the-box solutions on the market to meet AvaTrade’s challenges, the broker approached Devexperts. Solution The more mature broker is, the more systems are in place. In consequence, a more complex infrastructure is a factor that influences and defines the architecture of the solution. Devexperts used its existing solution, the DXmobile platform for iOS and Android, as a starting point for developing a custom frontend to meet AvaTrade’s needs. The independent and proven components of DXmobile, which allowed a faster software release and further tailoring and integration to the AvaTrade business environment (trading platform, client portal and CRM, tools for clients’ activity analysis and metrics collection, push notifications). Devexperts readjusted business-specific application logic, developed a trading adapter to implement integration with the middleware of other technology providers, and completely redesigned the user interface according to the requirements provided by the client. AvaTrade reconsidered not only standard functions of a trading application (charting, watchlist, order entry, symbol search, trade history), but also introduced a number of new features such as market sentiments and trends, sharing of trades, price alerts, and many more. Results The result is a new mobile trading platform (Android and iOS) for the full set of OTC asset classes: Forex, CFDs on Equities, Futures, Indices, and Cryptocurrencies. The trading platform release happened in 3 months since the start on March 1, 2017. The Controllable launch to selected target client groups was put into action on November 1, 2017. At the same time, there were released region-specific versions of the app adopted for China and Japan. The new mobile platform made it easier to attract customers with very little trading experience, while the experienced traders appreciate its usability and 24×7 availability of their trading accounts at hand.
Phinom Trading Solution: A New Approach To Wealth Management February 1, 2019 About the Customer Company typeTrading tech service providerYear of foundation2016Asset classesMulti-assetLocationZug, Switzerland Phinom AG is a Swiss-based company funded by a private investor. It provides trading technology services to private banks and high net worth individuals. The Phinom platform brings the latest advances of trading technology and addresses the specific needs of private banks and traders that still have underdeveloped solutions and rely mostly on traditional trading by phone. Business Challenge The customer sought ways to increase return on their capital investments and bring more automation to their daily routine, as they sold options to banks via telephone and kept accounts of all operations, investments, and capitals in Excel spreadsheets. Managing capital in such an old-fashioned way limits the potential profits and quickly gets out of hand as the number of client positions grows, impeding the potential and profits for both customer and bank. The customer needed trading software where he could also manually enter positions created at third-party trading venues outside of the Phinom system. The solution also needed to be available on all platforms and appropriate for any age group, so Devexperts designed the user experience and “the visual language” of the platform from scratch for easy comprehension and usability. Solution A Devexperts product, DXOMS, was heavily extended and provided the backend to Phinom. To send orders and list the whole portfolio, Devexperts implemented API integration with several trading venues (i.e. Bank Julius Baer, DigitalVega). FX Spot, Forwards, and Stocks trading capabilities were implemented, replacing outdated Excel spreadsheets. Then mobile versions for iPad and iPhone were created, enabling the user to trade on-the-go. The iPad version of Phinom has a rich set of functions, including: Real-time synchronization of mobile, Web and desktop versions via DXOMS OTC FX Spot, Forward, Vanilla and Exotic options trading Highly configurable portfolio views with sorting, filters and highlighting (including context highlights, signals, and alerts) functionality Option portfolio risk analysis with market simulations Sophisticated reporting tools Full-featured charting with technical analysis and a rich set of tools Real-time alerts The iPhone application provides simplified views for current market status, different portfolio views and trading notifications allowing the customers to be in control of their accounts anywhere, anytime. In the course of working with the customer, the business evolved and shaped new demands, leading to an enhancement of the solution. Devexperts continued development at the Customer’s request and added features tailored to fulfill the customer’s business needs: RFQ trading with automated negotiation of flex options pricing with trading venues Pythagoras: advanced position alerts for stop loss and take profit notifications BiograPHI: user-defined trading strategies from a simple rolling chain of options to complex hedging aggregates that the trader sees as a solid investment strategy, maintained, tracked and measured to achieve the best overall ROI Margin simulation: custom pluggable margin calculation algorithms for various asset classes and margin calculation techniques of different banks and regulators. Phinom can create risk profiles based on volatility feeds obtained from trading venues to build strategies. Its extended reporting reflects the platform’s approach to trading. All Phinom client applications also have server-stored presets for filtering and sorting rules with real-time synchronization on all platforms, allowing for effective collaboration between investors, money managers and banks on portfolio slicing and investment strategies analysis via shared widgets and view presets. Result The initial task of creating a manual position management service with a function to send orders to banks was only a foundation for the ambitious development project, which resulted in the cross-platform custom trading solution Phinom with no peers among off-the-shelf products. It combines the functionality of numerous solutions, making it a one-of-a-kind software product: The multi-asset trading platform with a special focus on foreign exchange derivatives The robust product for money managers and private banks to trade OTC FX Spot, Forward, Vanilla and Exotic options, track their portfolios, risk exposures, and balances The solution with comprehensive UI/UX available on Web, mobile, and desktop platforms Awards Phinom was named the Gold winner in the Digital – FinTech category at the 2018 Berlin Design Awards, held by DRIVENxDESIGN, a global community of designers.
