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IC Market's Sees a Spike in cTrader Forex Activity in June

Jul 08 2013

Mid-June we spoke to Andres Budzinski, managing director of the Australian forex and CFD broker IC Markets, and we discussed many topics, amongst which – the company's cTrader ECN platform offering. 

Back then the publisher of MT4 and MT5 had just began blocking out a number of third party providers thus limiting the platforms' capabilities to a certain extent, and we asked Mr. Budzinski for his opinion on the situation. He expressed a very reassuring forecast for the future of MT4 and the well-developed ecosystem surrounding the platform, however he also predicted a strong community forming around cTrader. 
Less than a month later, IC Markets releases data about its cTrader usage, and we are glad to see that Budzinski was indeed right in his prediction, as more and more traders choose to sign up for Spotware's true ECN trading platform, and subsequently boost the cTrader trading volumes through the roof. 
Let's take a look at the numbers. Compared to the previous month, in June 2013 IC Markets' cTrader's volume hit an increase of 150% - a record level since the launch of the platform in October 2012. The number of cTrader account applications has skyrocketed, too, to grow 123% compared to May.  
An interesting fact is that the greatest number of the increased trading volume is accounted for by Australian and European traders who generally tend to be the most critical and demanding crowd, and their actions could be signaling a decline in Metatrader activity; could this be a form of protest against the actions of the MT4 publisher? Possibly. More likely, though, traders are simply following the global trend of hunting better trading conditions and find them with cTrader, where spreads are quite very low (in the case of IC Markets these start as low as -0.3 pips) and the execution is much, much faster. 
What's more, for the time being IC Markets remains the only Australian broker to offer cTrader, giving the company additional edge to its competitors.
“Although cTrader still only accounts for less than 10% of our overall trading volume we are delighted to see that the online trading community has embraced the platform,” commented Andrew Budzinski in a statement for the media. “We are committed to constantly improving our clients experience and plan on adding the cTrader platform to our Secure Client Portal in the coming weeks,” he added. 

About IC Markets

Headquartered in Sydney, International Capital Markets Pty Ltd (IC Markets) is a provider of online forex and CFD trading services, offering individual traders, money managers and institutional customer’s proprietary technology, tools and education to trade online. IC Markets has distinguished itself among industry leaders with its unique ECN forex technology, proprietary tools and services, and remarkable focus on customer service. IC Markets is regulated by the Australian Securities and Investments Commission in Australia.
Forex trading may not be suitable for everyone so please ensure that you fully understand the risks involved. Please consider IC Markets PDS available from IC Markets before entering into any transaction with us.
TAGS: forex  forex trading  forex broker  forex platform  trading platform  ECN trading  cTrader  Spotware  MT4  IC Markets 

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