cTrader, a multi-asset forex and contract for difference (CFD) platform has become a cross-broker platform.
This means that traders on the app owned by Cyprus-based Spotware Systems, a financial technology provider, can now trade multiple brokers easily.
cTrader announced the development on Friday in a statement on its website.
Spotware explained that users of cTrader can now trade with all their existing accounts from the app.
Forex and CFD traders can enter markets, place, track and manage their trades from any cTrader broker all from the comfort of the trading app, the fintech company said.
Additionally, Spotware noted that the desktop and web versions of the cTraders have already been released.
It added that these versions will soon be followed up with the mobile app version.
Previous cTrader Upgrades
In August last year, Spotware introduced upgraded versions of the cTrader web & desktop applications tagged ‘4.1’ following an initial upgrade the previous year.
The releases introduced direct crypto deposits to the trading platform.
“These versions come with a large variety of features, all aimed at improving user experience, adding customization and personalization according to trader preferences,” said Panagiotis Charalampous, the Head of Community Management at Spotware.
“It also marks a major moment in that cTrader has now focused more on cryptocurrency users, allowing direct deposits in crypto without Fiat conversion,” Charalampous added.
Copy Trading Record
In 2021, cTrader Copy, a mirror trading feature of cTrader, beat the world copy trading record.
cTrader said one single copy strategy saw $10 million in investment.
The company explained, “A user created a copy strategy named Relax over a year ago, having invested only $15 as a starting balance.
“All year long, the user was trading with an average return of 200% per month.
“Throughout this very successful year, the strategy has attracted $10 million in investment, making followers money and giving the provider around $1 million of additional income through performance fees (very impressive, given the initial investment of $15).”
However, Spotware warned that while copy trading can be profitable, there is a need to take caution as financial markets can be very volatile.
The company noted that risk management should be a top priority.
