Devexperts, a provider of software solutions for financial firms, has announced plans to update its flagship product, DXtrade XT. This new version introduces significant enhancements designed to support its capabilities in the trading space.

One of the platform's major upgrades is the newfound ability to facilitate trading of assets denominated in multiple currencies, a feature designed to provide brokers with a wider range of trading opportunities.

Meeting the growing demand for multi-currency trading

The update is designed to meet the needs of the financial industry as multi-market and multi-currency platforms grow in popularity globally, the company said. Initially designed to facilitate trading equities in the US as well as US dollar-denominated stock options, DXtrade XT has been improved to accommodate trading activity in different currencies across different markets.

The upcoming release will mark the soft launch of EU equities (stocks and ETFs) trading on the platform and is scheduled to go into full production, subject to integration with the execution side of choice for brokers adopting DXtrade XT as their primary trading technology.

With the launch of our latest upgrade to DXtrade XT, we are providing brokers with the ability to trade across multiple markets and currencies, making it easier for them to navigate the global markets," said Michael Babushkin, Global CEO of Devexperts. With multi-currency support, DXtrade XT extends the reach of our platform and reinforces our dedication to providing brokers with the tools they need to succeed in a competitive industry."

DXtrade Platform Soars in Popularity

Devexperts' DXtrade platform has emerged as an alternative in light of recent reports about MetaQuotes' alleged crackdown on proprietary trading firms. According to Financial Giant. Many proprietary trading firms, regardless of size, are choosing to integrate with DXtrade in response to the pressure to transition from the MetaTrader platform.

"We have seen a significant increase in inquiries and new clients signing up with us. Our deployment is largely automated and we are a large firm with enough bandwidth to accommodate all of our clients." Jon Light, head of Devexperts' OTC trading platform, told Finance, adding that the past few days have been "very busy"".

"Despite the processes we've put in place, we've done our best to set some internal records, signing up and launching over a dozen firms in the last five business days."