Financial software developer Devexperts has expanded its DXtrade XT white-label trading platform to include futures trading functionality, targeting prop firms. According to the company’s exec, this move responds to growing demand for futures trading technology in the proprietary trading sector.
Devexperts Rolls Out
Futures Trading Capabilities for Prop Firms
DXtrade XT
now enables firms to offer US futures trading to global clients, complementing
its existing support for forex and CFD trading. According to Jon Light, Head of
OTC Platform at Devexperts, the company made this move in response to
“significant interest” from prop trading firms.
These companies
have previously focused on CFD products but are now expanding their offerings
to include derivative market instruments, with a particular emphasis on CME
futures in the US. Devexperts has already onboarded 40 such firms over the past year.
“There is
strong demand for futures trading technology, especially as the rapidly growing
prop trading segment explores new opportunities,” Light commented for TradingTech
Insight. “Additionally, we differentiate ourselves by offering expert guidance
and support to clients entering the brokerage business.”
The
platform’s built-in trading simulator integrates with firms’ CRM and portal
systems via API, facilitating seamless onboarding of traders. Risk management
features include configurable position limits, customized trading schedules,
and automatic position liquidation at session end.
DXtrade XT,
which
was recently updated, also incorporates dxFeed, Devexperts’ market data
service, providing access to Level 1 and Level 2 US and EU futures data. The
platform supports various trading tools and order types, including stop market,
stop limit, and trailing stop orders.
In a
separate development earlier this July, the company announced
a partnership with Pelican, a copy trading services provider. This
collaboration introduced an integration enabling DXtrade users to tap into
Pelican’s network of over 9,000 trading signals directly through their
platform.
Prop Firms Bet on Futures
“To
stay ahead, we’ve developed a futures-specific version of our prop trading
platform,” commented Light. The company targets existing prop firms that
offer trading in CFDs, FX, and crypto, but want to expand into the American
futures market. Additionally, it directs its offerings to traditional futures
firms that would like to enter the prop trading industry.
Recently,
several companies in the sector have decided to open new entities focused on
futures instruments. One of them was the controversial The Funded Trader (TFT),
which announced plans to launch The Futures Traders. Previously, MyFundedFX
made a similar move, establishing an independent enterprise named My Funded
Futures.
Exciting news!We’re launching The Futures Traders, a new futures firm focused on smooth operations and sustainability.Stay tuned for more details, including our website and dashboard preview!#FuturesTrading #TFTUpdates pic.twitter.com/FBmFmbbMsb
— The Funded Trader (@thefundedtrader) July 26, 2024
At the end
of July, a crypto-focused prop firm, Crypto Fund Trader also presented a separate
futures entity. Since the beginning of August, it has been offering services
through its new platform, Crypto Futures Platform.
Crypto Futures Platform This Week 🚨Launch on Thursday, August 1st at 16:00 UTC with no country restrictions and +120 Crypto Pairs available!Ready to revolutionize the crypto space? 👇 pic.twitter.com/snlwvI12tf
— Crypto Fund Trader (@CFTradercom) July 30, 2024
Turning
back to Devexperts, the company this week announced the appointment of Anthony
Mervin as Vice President of Sales and Business Development for the Australia
and APAC regions, marking another strategic move following the addition of two
new personnel to the Business Development department in May.
This article was written by Damian Chmiel at www.financemagnates.com.
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