June 1, 2020 - TopFX, a Prime Brokerage & Liquidity Provider has joined forces with Spotware, the award-winning developer of the cTrader platform, to create a unique 2-in-1 solution for both new and established brokerages. We asked Prokopios Katsaros, Head of Brokerage at TopFX to tell us more about it.
TopFX offers an exclusive 2-in-1 broker solution for both new and established brokerages. What is included in the service?
The 2-in-1 broker solution is the product of our partnership with Spotware, the developer of cTrader, a suite of innovative trading platforms which have won multiple high-profile awards. It combines our Tier-1, aggregated liquidity with a complete trading platform solution that includes a diverse range of features and functionalities. In particular, the new cTrader platform has integrated a Copy Trading and an Automated Trading feature, enabling brokers to attract clients who are interested in these trading methods. cTrader is available on web, desktop, iOS & Android. Brokers can customise this package fully to their logo and theme. From day one, they will be able to offer their clients multi-asset trading across Forex, Indices, Energies, Metals and Cryptocurrencies while retaining full control over their risk management. Last but not least, our 2-in-1 offer gives brokers plenty of flexibility, banishing the limitations that usually go hand in hand with this kind of offers.
In what key ways can your 2-in-1 broker solution help both startups and more established brokerages?
For startups, the 2-in-1 broker solution is the fastest, easiest and most reasonably priced way to set up their business. Entering the e-FX & CFD industry is not an easy task, and new brokers have to spend time and resources looking for the best combination of a liquidity and platform provider. Even when they find potential providers, they have to ensure that they can integrate them without issues. On the contrary, the 2-in-1 solution allows brokers to have all the components of their business under one roof; cTrader requires no bridge to connect to TopFX liquidity, ensuring seamless integration and optimal performance.
Established brokers can benefit from adding more asset classes to their product offering. As mentioned earlier, TopFX offers CFDs on Forex, Indices, Energies, Metals and Cryptocurrencies. Besides that, brokers can attract a growing number of traders who prefer trading on cTrader. cTrader not only features highly advanced trading tools but also enables its users to copy trade or use cBots for full automation. A broker that chooses the 2-in-1 solution can expand their customer base and retain existing clients by offering them more choices. For that reason, we believe that we have created a package of real value.
How flexible is the 2-in-1 solution especially for firms who may be looking for something that can be customised and how quickly can it be deployed?
It is very flexible, perhaps to a greater extent than any other offer of its kind. As mentioned earlier, brokers get the full cTrader platform suite that also includes the cBroker Admin panel. cBroker can be used for configuring settings such as spread markups, commissions, swap rates, dynamic commission discounts, Introducing Broker settings, stop out levels and many more. There is no limitation on the number of live and demo accounts and groups that the broker gets. Deployment can be quick, and if all requirements are fulfilled, it’d only take a week.
Let’s talk about your standard institutional liquidity solutions. What are the key elements of TopFX liquidity that make it such an attractive proposition?
messages.Since 2010 that TopFX was founded, we have worked in establishing and maintaining key relationships with Tier-1 Institutions. We are therefore in a position to offer deep liquidity across multiple asset classes and tailor our services to our clients’ business needs and specific goals. Our aggregated liquidity feeds can be connected to any trading platform via FIX API. We understand that reliable order execution is of paramount importance in our industry and for that reason, we ensure maximum execution stability without gaps, requotes or spikes. We think that, in combination with the above, our tight spreads and ultra-low latency make TopFX’s offer a truly attractive proposition.
The Prime Services industry is highly competitive. If I was a potential client, what do you think would convince me to choose TopFX over your competitors?
Besides all the key advantages that I already mentioned, I believe that clients choose us and stay with us because of the quality , 24-hour support we offer. No matter what the circumstances are, we are committed to resolve promptly any issue that our clients may have. Knowing that you will have your request answered with speed and efficiency is crucial to building a longstanding relationship. And this is what we do: we build business relationships that last - we have clients who are with us since we founded the firm in 2010.
TopFX has always operated a client-focused model. What plans do you have over the coming months to roll-out new products and services to help customers further transform their businesses?
We will always operate on a client-focused model because that’s how a firm gains trust and grows to become stronger. Our main aim is to continue offering highly customizable services and this is easier done by building new business partnerships. For instance, we have recently integrated OneZero so that we can support more instruments and improve the execution speed for clients who are based in different geographical regions. We plan to work on building more partnerships that will expand our product base and give our clients plenty of room for customising their offering.
Do you feel that the innovative 2-in-1 broker solution with Spotware helped get your name out there further?
I believe that the solution we created with Spotware is not only a win-win for both companies, but also for the brokerages who are going to choose it. Instead of looking for a liquidity provider and a trading platform separately, both startups and established brokerages can benefit from this integration saving valuable time and resources. The 2-in-1 broker solution is well-designed and combines our Tier-1, aggregated liquidity with the upgraded cTrader trading platform suite which enables traders to access three different trading methods within the same interface. Switching between manual, copy and automated trading is easily done by clicking the buttons “Trade”, “Copy”, and “Automate” . Traders can also combine all three different methods instead of choosing just one. This is a strong selling point for brokerages looking to attract new clients who are interested in copy and automated trading. cTrader is a cross-device platform and is available on web, desktop, iOS & Android. Apart from the retail trading platforms, brokers also get access to their own administration panel and hosting solution.
The combination of innovative trading platforms and multi-asset liquidity across Forex, Indices, Energies, Metals and Cryptocurrencies, makes this an in-demand solution that many brokers prefer.
In the eight years that TopFX has been open, the industry is radically changing with Cryptos. How do you ensure that your clients get the best combination of pricing and execution?
At TopFX, we get our price feed only from reputable partners that offer industry-leading prices and reliable execution without spikes or gaps. In addition, traders can benefit from our deep liquidity pool and place large orders without any consequences on the quality of execution. This is true not only for cryptocurrencies but also for every other asset class.
What’s next for TopFX?
Throughout my career at TopFX, I learnt that in order to succeed, we must exceed our clients’ expectations and offer them a solid foundation upon which they are going to build their success. To create a win-win, we must see ourselves as facilitators and enablers who help brokerages grow. To do so, we need to keep improving our offering by establishing new strong partnerships with key industry players. We have already integrated new service providers so that we support more instruments and improve the execution speed for clients who are based in different geographical regions. In the future, we plan to add new instruments and asset classes. We hope that our true transparency, wide selection of markets and top-notch trading conditions will be strong selling points that will convince the interested brokers to choose TopFX over other Prime Brokers.
Originally published in: e-Forex Magazine
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