Technology consulting company Finstek said on Thursday it has signed an agreement with B2B trading software developer ActTrader Technologies under which it will sell and market Act2020, a new platform for trading in forex, binary options and contracts for difference (CFDs) that was jointly developed by the two companies.
Thanks to the new online platform, small and mid-sized brokers will gain access to the trading technology of ActTrader, which otherwise is only available to larger brokers.
“This is a great opportunity for small and mid size brokers to access the high end technology and functionality as the bigger brokers do. Flexible back office and a fully functional dealing desk with good risk management capabilities are instrumental in running a profitable brokerage business”, said Ilya Sorokin, CEO of ActTrader Technologies.
The Act2020 (www.act2020.com) trading platform will be available to brokers without set-up, license or white-label fees, but they will have to pay a monthly fee of $3,000. In exchange, they will receive hosting services and full back-office support.Moreover, the developers said broker clients will not be tied to any long-term contract commitments.
“Within 10 minutes you can start your own new FX, CFD’s and Binary Options broker or offer an alternative to your current existing trading platform to energize your sale and marketing efforts” Said, Ashraf Ebid, CEO of Finstek. “Act2020 was designed to be most disruptive and powerful trading platform which will become an obvious choice for many brokers who are currently competing with the same exact platform which forbids them an opportunity to compete better and retain their clients much longer,” he added.
Act2020 will have to compete with other developers of trading platforms for forex trading such as MetaQuotes, developer of the MetaTrader 4 and 5 (MT4, MT5), and Spotware Systems, developer of the cTrader platform.
ActTrader Technologies is a US-based company set up in 2000. It offers fully hosted, managed and supported online trading solutions and software. Other projects developed by the company are multi-asset trading platforms ActTrader and ActWeb Trader, mobile platforms ActPhone, ActPad, and ActDroid, as well as visual strategy editor ActVAT.