CMC Markets Doubles Down On its Proprietary Platform, As Brokers Jump on MetaTrader Bandwagon

Released in our Q2 Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term Industry Report, is analysis on the MetaTrader 4 platform and its usage among brokers. One of the key findings is that more than competing against any other third party platform providers, MetaTrader main competitor is proprietary platforms. Among the top ten Non-Japanese brokers by volume, with the exception of Alpari, FXOpen, and FXPro, the lion’s share, of trading is processed via broker proprietary platforms. However, among leading firms that were slow to launch MetaTrader, we have recently seen that its popularity has made it difficult to ignore. As a result, during 2013, Saxo Bank, IG, and City Index have all announced that MetaTrader 4 will be offered to the their clients.

Continuing to buck that trend is CMC Markets. Earlier this year, the broker applied what they called their “biggest ever” Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term upgrade. Currently, the company has announced another round of upgrades to its platform. The key features include a more “accessible” user interface with the aim of allowing the platform to be easier and quicker to use, including smaller screens.

Also included is social media integration, with traders being able to add Twitter feeds, YouTube videos, and blog pages on the platform interface. In regards to mobile, CMC Markets announced that 31% of their client trades are via mobile devices. As a result of this trend, in addition to making its user interface adaptive, they have also added iOS calendar integration of economic news.

Commenting on the new build, Craig Inglis, Co-Head of Product Development at CMC Markets stated “We are not resting on our laurels. The ongoing development of the platform allows us to provide our client base with the most up-to-date trading platform that they can customise to suit them. We have an international team of developers who have taken on-board valuable feedback and we’re confident this upgrade will further enhance our clients’ trading experience.”

In regards to whether CMC Markets would be eventually also launch MetaTrader 4 like many of its rivals, or whether it was sticking to solely offering its Next Generation trading platform, Inglis explained to Forex Magnates that "CMC Markets has a strong belief in its Next Generation trading platform, especially considering it allows us to tailor future development to suit our global portfolio of clients." He added "while we never discount the possibilities of working with selected technology partnerships in the future, we have every confidence that we will be able to deliver in-house the core functionality the retail audience demands and beyond."