Improved recruitment, more reliable evaluation 

If you want to improve your onboarding process, then more effective recruitment and evaluation of your traders go hand in hand. But this process goes both ways. On the one hand, you want to attract the best traders by offering them powerful tools to conduct their trading activities and to track their success rates; on the other, you want to be able to separate the most likely candidates to succeed from those that require further work.  

DXtrade XT empowers futures prop trading and funded trader firms to be surgical in the way they construct challenges, devise rulesets, and set trading goals, as well as how they can monitor the performance of their traders to effectively evaluate their suitability for funded accounts.  

Whether it’s paper trading challenges, competitions, or live trading with real capital, you always remain in control by being able to strictly define the sort of trading criteria you would like your traders to work within. The platform’s monitoring tools then allow you to easily separate your trading wizards in the making from those who do not make the grade.  

The system offers real-time monitoring of trader performance, enforcing adherence to pre-set rules, and providing an environment where traders can be managed on a bulk, individual, or per-group basis. On the front end, traders have a performance dashboard that allows them to check how they’re faring in real time. At a glance, they can review their risk/reward ratio, win rates, return percentage, maximum drawdown, and a number of other valuable metrics, such as how long they tend to hold their winning trades versus how long they hold their losing trades.  

Our partners are also finding that the trading journal the system comes bundled with works not just as a powerful educational tool but also as a retention tool, as its rich features and usability allow it to function better than other offerings on the market.  

Better risk management  

Another crucial consideration for this type of trading business is the ability to monitor your traders’ activities behind the scenes. This ensures that they always follow your predefined risk management rules and that they cannot perform any actions that could put your capital at risk when trading with real money. 

For your peace of mind, comprehensive risk management procedures can be devised ahead of time and automated so that your firm never finds itself in a position where it’s exposed. Positions can automatically be closed, and trading accounts can be switched over to read-only mode should things go wrong, especially when a trader loses more than a preset percentage of their account balance. This works as a floating maximum loss point, ensuring no trader’s account can ever draw down beyond a given amount. The reverse is also possible—you can set profit targets so that positions are closed when trader accounts find themselves in the green by a set percentage to keep with the business’s take-profit criteria. 

High performance and scalability 

A separate concern is performance and scalability. These two elements of your infrastructure are as relevant to attracting and retaining traders as they are to ensuring that your business continues to grow. How well can your trading infrastructure perform under peak loads? How much headroom do your systems have to serve increasing numbers of traders?  

This concern can often be overlooked in the early stages of setting up a futures prop trading business. Still, it can considerably hinder that same business later down the line, should it experience any degree of success. This can often result in the futures prop trading firm developing a bad reputation for poor service and frequent outages, which can be difficult to repair once the word is out.  

At Devexperts, we have over two decades of experience serving some of the biggest names in finance with technological solutions. For this reason, we are no strangers to the above concerns.  

DXtrade XT can serve thousands of concurrent traders who are out of the box. Should you ever be in the happy situation of needing to serve more traders than a single instance of the platform can effectively manage by default, we can spin up multiple instances and divide your client base between them without them ever noticing a dip in performance. In this way, you will never need to risk your clients experiencing a degradation of the excellent service they have become accustomed to, which is synonymous with your brand. 

Own your mobile apps

Mobile apps can often be the bane of trading businesses. They make bold claims but often lack the ability to duplicate the same experience that can be had on devices with larger screens.  

Sensitive to this need, our team has spent a great deal of time perfecting our mobile apps so that they can tick all the relevant boxes of users and the businesses that offer them. 

When signing up for DXtrade XT, you will receive your native mobile versions of the platform, branded with your logo and colors, for Android and iOS. These mobile apps are not shared with other brokers, so you will never find yourself in a position of having an app removed from the relevant store because of the actions of a business entirely unrelated to your own.  

Furthermore, our DXtrade Mobile apps have been shown to be more stable and perform better in a variety of low-bandwidth conditions. Our proprietary connectivity protocol can switch between mobile networks so that market data delivery is not impacted. This means that your traders can enjoy the same high-quality trading experience as on the web-based version of the platform without delays in platform pricing and chart performance. 

Fully integrated 

Being a custom development house, we’re also very experienced in integrations, whether getting new systems to work with legacy software or helping different systems that may not otherwise be compatible to play nicely with each other.  

Historically, this has been one of our biggest selling points as software integration is one of the biggest headaches for most businesses, let alone financial services businesses, for which so much is on the line if something goes wrong.  

DXtrade clients are happy to leave all necessary integrations in the hands of our expert team, resting in the knowledge that the job will be done right with minimal disruption to business operations.  

We have successfully integrated everything from new asset classes via multiple brokerage partners to legacy CRM suites and educational backends for firms wishing to offer their students access to trading on our platforms. 

We recognize that however good our platforms are, our clients can only get the most of them if they integrate seamlessly with all of their other systems. 

See for yourselves! 

If we have piqued your interest in the slightest, press this link to access a demo version of DXtrade XT. If you would like to discuss how DXtrade can be integrated into your existing business setup, contact us.