North American retail forex industry has been facing difficult times since the Dodd-Frank Act was enacted that stipulates that all forex brokers must set aside at least $20 million in net capital.
However, innovation in the sector is commendable, something that has helped the United States to retain its position as the most prolific country in terms of executing venues and institutional trading desks.
On Tuesday, Spotware Systems cTrader entered the U.S. market when it was installed by Manhattan Beach Trading Financial Services (MB Trading) as its primary forex trading platform.
This is a major PR coup for Spotware Systems, which has gained traction in other international market as an alternative to the MetaTrader 4. It has an upperhand in that it is connected to liquidity providers via API.
MB Trading is a tech-driven, low-commission brokerage that specializes in order routing in equities, forex, futures and options through various electronic networks and global exchanges. The firm became the first US Forex intermediary to use Spotware’s cTrader trading platform for Forex customers. The platform can be easily accessed via mbtrading.com for both demo and live trading.
“MB Trading has always been interested in offering the latest platforms for traders,” explains Ross Ditlove, CEO of MB Trading. “We are impressed with the growth of cTrader in Europe and Asia and found the refined interface, efficient charting, and outstanding algorithmic trading language to be an exciting FOREX technology asset.”
“We are thrilled to be the first US broker to offer this new platform and encourage both manual and script-based Forex traders to compare it to their current platform. MB Trading is pleased to be partnered with Spotware and will continue to implement deeper and tighter integration with our trading systems,” added Ditlove.
To contact the reporter of this story; Yashu Gola at Yashu@forexminute.com