Developing the ever-relevant trading platform: the TickTrader case
- Flexible range of functions
- Trading accounts for different objectives
- Advanced order types
- Slippage control
- Terminals to reach every platform
- Business side features
- Wrapping up
The field of Forex trading technology, following the market itself, can be quite volatile, and not always these changes are palatable. Recently, MetaTrader 4 and 5 apps were removed from the App Store. Another alarming fact that adds to the concerns of industry professionals is that MetaQuotes, one of the largest providers of OTC trading software, has put on hold the process of accepting applications for white label solutions for MT4 and MT5 trading platforms.
In light of these events, we consider it our duty to once again remind our followers of the principles we adhere to when developing a safe white label technology to launch a Forex broker. The example is our TickTrader Trading Platform, a technology that not only allows brokers customers to issue provide unlimited number of subsequent white label licenses, but also to place their own trading applications in the AppStore and Google Play without any restrictions.
Flexible range of functions
Ideally, the trading platform, regardless of what target audience you are addressing, should meet the needs of both beginners and experienced clients. Even if a group of inexperienced users have no plans to use custom alerts or create their own EA right now, it is quite possible that they will want to do so in the future. Being able to anticipate such needs can greatly increase your chances of retaining old customers and gaining new ones as your business grows.
Speaking of options for advanced users, TickTrader Trading Platform offers features like one/double click trading mode (perfect to take advantage of rapidly moving markets), advanced trading alert system with ability to bind on the server side (so the client activity is not linked to the state of trading applications), or detailed charting system with the ability to draw, see volumes, trades and set up alerts.
Trading accounts for different objectives
Ideally, your customers should be given the opportunity to choose the type of account that best suits them depending on the desirable currencies to work with, instruments, initial deposit, brokerage bonus offer, and many other conditions.
TickTrader Trading Platform offers both margin (leverage) and spot exchange (cash) accounts, with margin accounts being divided into net and gross types.
Advanced order types
In addition to common order types (market and pending orders, like Stop, Limit, and Stop Limit orders), trades should also be offered to operate advanced orders that allow experienced users to build more complex trading strategies.
In addition to complex orders like Good Till Cancel or Hidden, TickTrader Trading Platform also allows creating order strategies, like Ladder or OTA (One Triggers Another). This gives users much more flexibility in different market conditions.
Slippage control
To help eliminate or reduce slippage, it is desirable to apply a slippage control function. For TickTrader Trading Platform, Slippage control implies the following operating principle: the Slippage control value is added to the price of the client's market order, then an IOC (Immediate or Cancel) order is placed. The liquidity provider undertakes to execute this limit order at available prices, but not below the limit order price.
Terminals to reach every platform
With web, desktop, and mobile multi-language terminals your clients can choose the most efficient way to experience your services. TickTrader Trading Platform offers four different types of client terminals with a set of functions specifically designed for a particular environment.
- The TickTrader Desktop Terminal has high-end functionality and opens access to both marginal trading and exchange of FX and Crypto instruments with low latency.
- The TickTrader Web Terminal provides access to TickTrader from any location and requires only having a computer connected to the internet.
- Finally, The TickTrader Mobile Terminal (both for Android and iOS) provides user-friendly access to mobile Forex and exchange trading via the Internet 24/7 from anywhere and anytime.
A well-developed API kit
The kit of TickTrader Trading Platform application programming interfaces allows developers to create customizable trading tools and interfaces to use with the TickTrader trading server for no-terminal trading. TickTrader Trading Platform API kit includes Web REST API, Sockets API, FIX API, SFX and Manager API.
Among other functions,54 TickTrader’s API kit allows users to receive detailed information about financial instruments, user accounts, and trading operations, and connect securely to TickTrader Server to get information about quote flows (currencies, symbols).
Business side features
Above we talked about the benefits that the trading platform can provide to the end client. However, we should not forget that under the hood you can place a lot of useful features that will greatly facilitate the existence of administrators. Each software provider looks at this challenge in a different way, so we will take a look at the modules that have been implemented as part of the TickTrader Trading Platform administrative architecture.
The possibility of sublicensing
Customers implementing the white label solution incorporating TickTrader Trading Platform can also provide sublicensing services. The sublicensing system is quite simple and available for immediate use as soon as the solution is deployed. The software purchaser is able to provide a sib-license as a part of the agreement with Soft-FX, and potentially increase their profits through expanded trading volumes and additional commissions.
Algo-Studio
TickTrader Algo Studio includes protocols that allow developing and running algorithmic trading systems. It comes with the preset of market-maker algorithms, which provide for administrators an ability to manage price flow, liquidity, pricing policies for any token or derivative instrument. TickTrader Trading Platform software package also includes a set of trading bots and ready-made algorithmic trading systems, that also provides the ability to import and convert strategies from MT4 and MT5 for later use in TickTrader.
Stock Events module
This module allows configuring stock operations on the trading platform depending on corporate actions that occur at a particular point in time. Corporate action refers to any activity that brings material change to a stock-issuing organization and impacts its stakeholders. Dividends, stock splits, mergers, acquisitions, and spinoffs are examples of corporate actions, all of which can require significant resources to process in the absence of automation.
For example:
stock splits may create large gaps on the chart, leading to a false impression of a sharp drop in the price. Based on the chart, technical indicators would give misleading sell signals.
The TickTrader Stock Events module is an example of a tool to counteract such occurrences. This feature allows you to adjust data by eliminating gaps arising from events such as splits, dividends, and mergers and acquisitions, enabling your platform to accept adjustments as seamlessly as possible.
Liquidity Aggregation
TickTrader Trading Platform can be configured to maximize diversification of liquidity flows and generate market depth feed. For example, it is possible to utilize a powerful matching engine enabling clients to generate internal liquidity and act both as price-takers and price-givers. This means that in addition to the liquidity from external suppliers, you will be able to add your clients' orders to the market depth. This can significantly reduce the expenses on the liquidity providers' commissions. Extended risk management options bring a hybrid A-book/B-book model, implemented through a trading multiplier system, where each trading account on the platform can be assigned a trading multiplier. The value of this multiplier determines the percentage of the requested trading volume that goes to the external market, allowing you to handle performing clients according to current business objectives.
Admin Console
TickTrader also features a comfortable administrator console. The interface and workflow were developed with a focus on the fact that employees who will use this functionality can have absolutely different experiences. For example, the TickTrader admin console should be quite easy to learn for dealing department employees with previous experience in using the admin and manager components of MT4 and MT5.
Wrapping up
Trading platform development is a very complex processIt involves the development of a reliable and secure trading platform architecture, integration of various functions, and customization of the software according to the customer's individual needs. Trading platform development involves the evaluation of various technologies, the development of a secure architecture, and the integration of different components to provide a comprehensive solution. Trading platform development also requires the use of advanced algorithms and technologies to ensure the security and accuracy of transactions.