Michael Babushkin

Devexperts upgrades DXtrade XT platform

May 2024 in News Headlines

Devexperts has announced that it will be releasing a significant new version of its DXtrade XT platform with several important enhancements. The platform will now support trading in assets denominated in multiple currencies, allowing brokers to broaden their trading horizons for an added competitive advantage. This change directly addresses brokers’demands for expansion into international markets, as multi-market and multi-currency platforms have risen in popularity around the globe.

Initially tailored to facilitate trading in US equities and equity options denominated in USD, DXtrade XT has undergone major upgrades to accommodate trading in various markets across different currencies. In this release, DXtrade XT is primed for the soft launch of EU equity (stocks and ETFs) trading, with plans for a full-scale production launch contingent upon integration with an executing party of choice of the brokers who adopt DXtrade XT as their primary trading technology.

Michael Babushkin, Global CEO of Devexperts, said: “As we introduce the latest upgrades to DXtrade XT, we are providing brokers with the capability to trade in multiple markets and currencies allowing them to navigate global markets with greater ease. With multi-currency support, DXtrade XT extends our platform’s reach and reinforces our dedication to offering the tools needed for brokers to succeed in a competitive industry.”

The following outlines some key points in the platform’s release:

  • Data Integrity: For brokers seeking a turnkey solution, market data and the instrument universe are sourced from dxFeed, a Devexperts subsidiary, ensuring consistent real-time market data availability.
  • Market Centers: Initial support includes cash stocks and ETFs from non-US market centers. Marginal trading of equities and options remains available for US instruments on USD accounts.
  • Currency Handling: Users may have multiple accounts denominated in different currencies and trade instruments denominated in the respective currencies. Commissions and fees are configured in the account’s base currency, with external cash transactions also applied accordingly.
  • Fundamentals’ Support: The upcoming updates will enhance market analysis capabilities for EU markets through dedicated widgets, ensuring comprehensive support for fundamental analysis.

This update highlights Devexperts’ goal of remaining at the forefront of trading technology, empowering brokers to explore new opportunities and drive sustainable growth.