FXCM Pro, the institutional arm of the FXCM Group, LLC, announced this Monday that it has partnered with Devexperts to provide liquidity to its newly launched customisable trading platform DXtrade.
Launched back in May of this year, DXtrade is a SaaS (Software-as-a-Service) trading platform which has been specifically designed for the retail foreign exchange (forex) and contracts for difference (CFD) industry.
With today’s announcement, FXCM Pro is one of the first well-known companies to onboard onto the trading platform as an institutional liquidity provider. Under the agreement, the prime broker will provide multi-asset liquidity to retail brokers using DXtrade.
Commenting on the partnership, Conor O’Driscoll, VP of OTC Platform at Devexperts, said in the statement: “FXCM Pro is the primary source of multi-asset liquidity for many brokers worldwide.
“Their excellent service, coupled with Devexperts’ knowledge in building trading platforms and integration for our clients into DXtrade, results in a turn-key and affordable solution for new entrants launching their forex or CFD brokerage.”
DXtrade is an “off the shelf” trading solution for CFD brokers. The platform is customisable, both for the front and back end, with brokers being able to determine the layouts and setup of the platform.
FXCM Pro: COVID has highlighted tech priority
“If the previous six months have shown us anything, it is that brokers’ technology has to be the greatest area of focus. With trading volumes hitting peaks during the volatility that the market experienced, brokers need to ensure that when instances like this happen and interest from traders grow, they can capitalise by onboarding clients quickly and efficiently,” added Mario Sanchez, Managing Director and Global Head of FXCM Pro Sales in the statement.
“Access to competitive pricing is central to this. Partnering with Devexperts ensures that new entrants into the broker market are able to access world-leading liquidity from FXCM Pro through a truly innovative trading platform.”