Devexperts has added spot cryptocurrency trading functionality to its multi-asset trading platform, DXtrade, the trading industry technology provider announced on Wednesday.
This functionality will allow the brokers using DXtrade to offer both margin and spot cryptocurrency trading services using the same platform. The platform has already been supporting crypto derivatives trading since 2018.
Additionally, the press release shared with Finance Magnates detailed that the new functionality was added after growing demand for it from brokers.
“Spot trading functionality was a long-awaited feature by many FX/CFD and Crypto brokers looking to go beyond only margin trading,” said Jon Light, the Vice President of Devexperts’ OTC platform.
“With DXtrade, they can satisfy the demand of their traders on a traditional purchase of crypto and digital assets. This release created a unique platform where brokers can provide both margin and spot accounts at the same time.”
A Multi-Asset Trading Platform
DXtrade is a multi-asset trading platform, meaning brokers offering forex, CFDs and cryptocurrency trading services can use the platform. It is being offered as a white-label software-as-a-service (SaaS) platform and is hosted and maintained by Devexperts.
Meanwhile, Devexperts has been enhancing the services of its trading platform for years now. DXtrade integrated the aggregation liquidity hub of Centroid Solutions to further enhance its liquidity offerings.
Earlier in February, Singapore-based FYNXT (formerly Simple2Trade) strengthened the offerings to its Client Manager and IB Manager with the integration of DXtrade. That enabled the forex and CFDs brokers already licensing FYNXT’s solutions to access DXtrade services within the platform.
“DXtrade is ideal for those brokers who want to focus on their marketing and dealing operations without spending time on selecting and integrating 3rd-party add-ons to their trading servers,” Light said earlier.
