Spotware Systems, a Cyprus-based electronic trading technology provider, has started investing in upgrading its infrasturcture to meet the higher demand for cTrader, its electronic trading platform, among brokers.
This is even as a recent Finance Magnates Intelligence Survey suggested that cTrader is likely the preferred alternative trading platform to MetaQuotes’ MetaTrader 4 and 5 which were recently pulled from Apple’s App Store.
The technology provider noted that it wants to be proactive “in accommodating new brokers that are being onboarded.”
The firm in a statement shared with Finance Magnates on Monday said it wants to increase its worldwide coverage and reduce latency on its trading platform.
Spotware explained that its existing infrastructure includes the cServer, which is the backbone of cTrader. The server comprises of other servers in strategic locations, such as Equinix LD5 in London and NY2 in New Jersey.
The cServer, as well as over 150 proxy cloud points, ensure brokers get access to uninterrupted liquidy connections, Spotware said.
Moreover, the server provides security, comprehensive backup and seamless global connection to cTrader, it added.
Alex Avanesov, the Head of Network Operations at Spotware, noted that improved connectivity between its Equinix NY2 and LDG data centres is one of the infrastructure upgrades the firm is investing in.
“After the rapid increase of onboarded brokers on our trading platform, it would only make sense to be proactive and upgrade our infrastructure in order to accommodate the ongoing increased demand,” Avanesov said.
Other infrastructural upgrades Spotware is investing in include new proxy points in Southeast Asian countries like Vietnam and Indonesia, the executive disclosed.
“These and many more upgrades will enable cTrader Brokers to offer a seamless trading experience with the lowest latency possible, sub-millisecond processing and a 100% uptime, regardless of their traders’ location,” Avanesov explained.
Growth in Spotware
In an interview with Finance Magnates, Aris Christoforou, Spotware's Head of Marketing, noted that the volume of forex and contracts for difference (CFDs) traded on cTrader rose 46% year-on-year over the last five years.
However, Spotware is now anticipating a much higher growth, although "it is still too early to estimate the precise percentage growth."
"There were numerous factors that contributed to the increased demand for cTrader among Brokers. Of course, the removal of our competitor from the App Store is a contributing factor, but demand had been increasing even before that, as brokers were looking for a competitive edge that would benefit their brokerage and traders, making cTrader the obvious choice," Christoforou explained.
Furthermore, the marketing executive pointed out that although the company was anticipating double-digit percentage revenue growth, earnings before interest, taxes, depreciation, and amortization (EBITDA) is expected "to be slightly lower due to the upgrade and expansion of our infrastructure and workforce and the investment made in these."
Spotware's Recent Initiatives
Earlier this month, Spotware Systems introduced the latest web and desktop 4.4 versions of CTrader. This followed the Web 4.3 version released in August and the Desktop 4.3 introduced earlier in June.
🔴🟢 The new cTrader Web 4.4 has now been released! Unveiling new features, which include shared access to trading accounts — it is the definition of a leveled up trading experience. Average +26% speed increase to minimize loading times https://t.co/kADU7WGZ6j pic.twitter.com/mU4FJLO9R8
— cTrader (@cTrader) October 5, 2022
On top of that, Finance Magnates reported that Spotware in October released OAuth, a new solution designed to revolutionize the mobile trading experience of users.
The technology provider said it designed the software to enable traders to “authenticate using their broker’s Client Area credentials and perform all actions such as know-your-customer checks and deposits without leaving the trading platform.”
