Software developer Spotware Systems said on Monday it intends to introduce in the near future support for swap-free accounts, aka Islamic accounts, to its forex trading platform cTrader. The developer also plans to add a function that allows users to snap objects to open-high-low-close (OHLC) prices, whereas now they can only snap trend lines.
Islamic accounts offer no swap or interest on overnight positions. This type of trading account is mainly popular in Islamic countries where the religion laws forbid the collection or payment of interest or fees for loans. Such accounts are quite popular in the forex world, but traders should keep in mind that swap-free accounts may be subject to certain administrative or other fees.
Spotware Systems said that cTrader has already introduced several improvements. For instance, the platform’s charts now show targets and live sentiment. Targets are available since the platform has been been integrated with Trading Central to offer target points for selected symbols. Live sentiment, which displays long versus short positions of other traders using the same platform, is could also be accessed through the MarketWatch.
cTrader has also underwent some display enhancements – charts can be moved freely up, down, left and right without re-scaling automatically. In addition, the application’s font size can be configured using a slider, but its elements will automatically adapt to the new size.
Earlier this month, Spotware Systems said cTrader’s Trailing Stop Loss service has been moved to the server and can be used when the platform is closed.
cTrader is one of many retail forex trading platforms. It is an electronic communication network (ECN) trading platform that provides full Straight Through Processing (STP) access to the forex market and features a comprehensive charting, a wide range of order types, technical analysis, custom indicators, and a quick-trade option. It is available as a desktop, mobile and web version. Its main compatitors are MetaTrader 4 (MT4) and and its successor MetaTrader 5 (MT5), both developed by Russia-based trading software developer MetaQuotes.
Cyprus-based Spotware Systems also offers mirror trading platform cMirror, algo and technical indicator coding application cAlgo, cloud-based solution cServer, and agnostics aggregator cAggregator.
Amongst the forex brokers that offer cTrader are Tradeview Forex,FxPro, RoboForex, OctaFX, IC Markets, MaxFX, and others.
Source: Spotware Systems