FDCTech, a forex and CFDs trading technology provider, has added PayPal as a new payment option for FX/Crypto brokers using FDC’s Condor FX Pro trading platform.
The new integration allows traders of Condor FX Pro’s customers to fund their trading account with small to large payments instantly while keeping transaction fees lower. Also, it ensures to keep their payments compliant to regulatory policies and anti-money laundering laws.
FDCTech’s flagship product, Condor FX Pro, provides an institutional trading suite for professional clients with proprietary charting tools, advanced order types, level II pricing and instant entry and execution.
The new integration came after PayPal officially made its move into the cryptocurrency market back in October. Even before that, there were a few pieces of evidence to suggest that the payment giant is showing interest in getting involved in cryptocurrency.
Additionally, PayPal’s involvement in the space was reflected in rumors to acquire crypto custodian, BitGo, as well as the firm’s investment in compliance and risk management platform, TRM Labs. Moreover, PayPal filed many related patents including one to speed up bitcoin transaction processing times through a faster cryptocurrency payment system.
“PayPal’s announcement in October 2020 to allow customers by early 2021 to buy, sell and hold bitcoin and other virtual coins using the digital payments company’s online wallets may enable cryptocurrency as a funding source for funding FX/Crypto trading accounts worldwide. The trend appears positive for FX/Crypto brokers as cryptocurrencies tend to be volatile, making them attractive to speculators and margin traders,” FDCTech said in a statement.
Condor FX is fully integrated into a native back office, reporting, and managing technology, as well as desktop GUI, webtrader and mobile terminals.
FDCTech, formerly known as Forex Development Corporation, has an API integration with one of the leading bridge and institutional liquidity providers, PrimeXM. Before that, the New York-based company has been recognized across the industry as a provider of technology packages that equip companies to operate as prime brokers.