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Software developer Spotware Systems announced the addition of a new account type to its cTrader trading platform, which would be fully compliant with France’s latest regulatory requirements. The new account will be featured with the next release of their next version of cServer.
The platform’s guaranteed stop loss will work in conjunction with the option to choose the trigger method of the GSL (trade side, opposite side, second trade side, second opposite side), extending the protection that is made available to traders.
cTrader is the first White Label trading platform to announce support for French clients in conjunction with the recent statement so far only issued in French language by the AMF, the software developer noted.
France’s Autorite des Marches Financiers (AMF) has introduced a number of new rules for the derivatives markets, including a mandatory guaranteed stop loss that brokers have to offer their customers. The new requirements are included in the Sapin II law and are motivated by the guidelines set by the European Securities and Markets Authority (ESMA). The AMF also banned the advertising of forex, binary options and contracts for difference (CFDs) with a leverage greater than 5:1.
“Speaking on behalf of the entire team at Spotware, we are proud to have reacted to introducing a critical feature even before any English statement was published by the French regulator or any other European regulator. In a matter of days this feature was in R&D. Thanks to our agile development approach we are now waiting to release the feature with the next compatible version of cServer according to our version control schedule,” said James Glyde, CCO at Spotware Systems.
cTrader is an electronic communication network (ECN) trading platform that provides full Straight Through Processing (STP) access to the forex market. It features a comprehensive charting, a wide range of order types, technical analysis, custom indicators, and a quick-trade option.
The platform is available for desktop, mobile and web users. It is offered by a number of forex brokers, including RoboForex, TradeView, IC Markets, OctaFX, MaxFX, FxPro, and others. Its main competitors are MetaTrader 4 (MT4) 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.