LeapRate recently caught up with Spotware Systems, the rising trading platform and forex technology company who has matured into the market by offering cutting edge platforms. The firm’s advantage over others is its continuous engineering and refining of the software.
This allows the company to retain traders once they switch to cTrader and produces positive first impressions to new entrants starting to trade the FX market or CFD instruments.
James Glyde, Chief Commerical Officer of Spotware Systems, who is an acute observer of the industry discusses some of the items the firm has been tackling, the rationale behind some of their product moves and how the company will continue to stay on top of its game going forward.
To check out Spotware follow the link here, and read the full interview below:
How was 2016 for the company, what do you believe was the most important development in the industry?
2016 was without a brilliant year. Volumes are on the up each month. Thousands of new cTrader IDs created each week. 34 brokers were launched. Now, dozens of new leads are reaching out to us every month. Things are looking exceptionally bright for 2017 already.
The year was full of surprises and excitement, mostly because of the world changing news and industry regulators becoming more outspoken on how brokers should operate. 2017 so far has shown to be no less exciting. The world is changing around us faster than ever. It’s how we handle these obstacles that are a testament to who and what we are all about.
How do you view China going forward and positioning the company for the Asia-Pacific region?
cTrader is well positioned in the Asia-Pacific region. The platform is being offered by a couple of Australia’s leading brands, plus there are many new startups emerging in the region offering cTrader and in a lot of cases exclusively as their sole platform.
As for China itself, we are seeing things moving in the right direction after intensive performance optimization of our cloud solution completed in 2015. We recently translated our cBroker admin platform into Mandarin to make life much easier for clients and their partners in the region.
Launched last summer, how has the availability of FIX-API on cTrader been accepted so far?
Exceptionally well. Since the initial release, we also added support for hedging accounts and wrote example applications to help users to understand how to connect to FIX API with and without SSL connection. We plan to continue to add functionality to our FIX API to be more useful to traders. An example of features soon to be added are the option to retrieve pending order list via FIX and add a Label to New Order Single.
After a big push on launch for cMirror, is the company still investing in this great tool for copy trading?
Our initial objective was to build a service that meets a few simple, but technically challenging criteria, in order to allow users to provide strategies to or mirror from traders of other brokers. Essentially cMirror is a catalog for investors to find strategies, provide information about them and give access to hundreds of strategies, bundled with the tools necessary for effective risk management.
Over the past two years, we have received a huge amount of feedback which will be put to good use.
Any chance cTrader can make its way back in the United States? As people know after MB Trading was bought out, no broker currently carries the software.
Anyone paying attention will have seen the recent events highlighting that the US market is contracting with less than a handful of retail FX and CFD brokers remaining showing what a difficult environment it is to operate in.
The US demographic has very mature investing culture, where it is not unusual for the common person to undertake some kind of investment opportunity.
Because of this maturity, there is a huge amount of interest in cTrader from end users who truly appreciate our product and what it aims to do for them. Hopefully, there can be a solution for them.
What does Spotware Systems have planned in 2017 that you would like to share?
We will continue to do what we do best, develop trading platforms. As usual, you can expect to see several updates of cTrader, with lots of exciting features. We may throw in a one or two product releases, I guess we will see…