London's financial technology scene witnesses a new alliance as Devexperts, the creator of the DXtrade platform, has teamed up with the fintech firm FX Blue to present a new trading solution targeting contracts-for-difference (CFDs) and spread-betting brokers.
According to the information provided to Finance Magnates, companies want to integrate DXtrade's back-end infrastructure with FX Blue's web and mobile interfaces. The move aims to change the current trading technology landscape.
Devexperts and FX Blue Announce Partnership for Trading Technology
The partnership brings together the back-end functionality of Devexperts' trading platform, which includes features essential for broker operations like risk management and account management, with the customizable web and mobile interfaces provided by FX Blue. Companies intended to allow brokers to choose their third-party services while maintaining access to a comprehensive set of operational tools.
“Brokers are free to select the preferred trading platform UI for their clients, while managing all dealers- and account-related operations through the DXtrade backend,” Devexperts explained in a statement sent to Finance Magnates.
Devexperts specializes in crafting software tailored for the capital markets industry. Its main offering, DXtrade, is a multifaceted platform utilized by brokers for trading a vast array of instruments, including equities, commodities, futures, options, foreign exchange, funds, and digital currencies.
FX Blue, the UK-based fintech working with banks and brokers in more than 20 countries since 2010, contributes its customizable front-end solutions to the partnership, offering features such as responsive mobile interfaces, custom indicators, and integrating external tools like copy trading and TradingView charts. FX Blue's platform is equipped with social trading features and the flexibility to incorporate a variety of third-party applications.
“In addition to the TradingView website as a frontend, another frontend by FX Blue is available as an option. It’s the brokers who decide how they want their trading platform to look like,” the company added.
The partnership's financial terms, including setup and ongoing licensing fees, are structured to assist brokers in their business expansion and risk management endeavors.
Recent Product Developments at Devexperts
Recently, Devexperts has been in the spotlight for several updates, including expanding its London team with four new senior hires. In a move to democratize financial technology, the company launched a trial and a lite open-source version of its DXcharts in August. These versions, geared towards fintech developers, enhance accessibility and integration possibilities.
In July, Devexperts partnered with Acuity, a frontrunner in AI-driven market analysis, integrating cutting-edge visual trading tools into the DXtrade platform. This integration is tailored to assist brokers' clients in pinpointing viable investment opportunities with greater ease.
During the same timeframe, Devexperts initiated a collaboration with DriveWealth, a step towards embracing the trend of fractional share trading. Through this partnership, Devexperts has secured access to DriveWealth's securities, enabling users to invest fractional shares with as little as one dollar.
Furthermore, as Finance Magnates reported in June, the firm unveiled the Dxtrade XT mobile application. This step was poised to streamline the trading process for retail investors, making it more accessible and user-friendly.
