cTrader Dealing Desk
cTrader Dealing Desk
I was reading through the new and welcomed features on the newly designed website.
What caught my interest was this:
How can a cTrader user find out, if a Broker is using this addon or if the Broker is still a real STP Broker?
It would be great if you could explain some details about that.
Well this is worrying. I thought the "No dealing desk interference" thing was cTraders biggest selling point and why alot of traders felt comfortable using it. They all end up the same in the end i guess.
This is concerning. The new website seems very much to advertise features as "broker first", rather Spotware's previous motto of "traders first".
Spotware - care to elaborate?
Hi to all,
Alongside with the new website, we will be releasing soon ctrader.com, our trader-centric community with spotware.com remaining as our corporate site. Indeed, as you noticed, Spotware is releasing a Dealing Desk (DD) add on for its cTrader platform. You all know that cTrader was introduced as a pure STP/ECN/NDD platform (and still is without the DD add on) at times when trading technology was subject to limited control and brokers could manipulate most parts of a trading system. Therefore there was a need for a platform that would guarantee proper order execution without any sort of manipulation.
Throughout these years cTrader and Spotware have educated hundreds of thousands of traders regarding fair trading practices and we believe that we have raised awareness amongst traders while pushing brokers to adapt more transparent practices.
However, as time passes and cTrader transforms from a niche solution to a mainstream trading platform, we need to cover more and more of the needs of the industry. Therefore we are expanding our solution by adding a DD add-on. Nevertheless, what still makes us different is that we do not allow misuse of our product in any way. The platform is hosted and managed by us, interventions are not allowed and all execution information is provided to traders in a transparent manner. This means that you can still be sure that cTrader cannot be mistreated in any way. We have built a brand name and a business around “Traders First” and we are not willing to give up on it. We apply a rigorous approval process on who and how is using cTrader, we are constantly monitoring cTrader platforms for possible misuses and we investigate immediately any suspicion for malicious activity. You should rest assured that will be the case with DD enabled platforms as well.
Regarding the Dealing Desk/Non Dealing Desk distinction, this will be available and traders will know if their broker is using a dealing desk or not. A screenshot is provided below (See INSTANT in the bottom left corner. When this appears it means the broker uses a dealing desk).
I would like to stress here that currently no broker uses this add on, and when this happens this will take place with full transparency.
I see, so when a broker isn't using this new dealing desk add-on will it appear as "MARKET" as in market execution? and when the dealing desk add-on is being used will it appear as "INSTANT" as in instant execution?
Brokers that offer instant execution, fixed spreads and guaranteed stop-losses are always red flag warning signals in my view.
There will be the "INSTANT" message only if Dealing Desk is ON. Otherwise, like all cTrader brokers currently, no message will appear.
I just got the news that Ctrader is not an exclusively NDD platform anymore, but with a simply “add on” can become a “market maker platform” enabling the brokers to mess with your trade. I thought that the NDD capability was the most interesting feature of Ctrader (having a program that it will not allow to manipulate you trade in anyway) and that "was" really the "edge" of using Ctrader (the traders trust)
Before I was looking "only" for brokers that use Ctraders for that reason (NDD capability) now I am not doing that anymore and I feel very disappointed as Ctrader became pretty much like MT4, MT5 and others programs regarding broker manipulation.
Spotware say : ("There will be the "INSTANT" message only if Dealing Desk is ON") …I think nobody is really please with that answer, I am not anyway, once you allow the Dealing Desk Brokers to mess with the trades in Ctrader: you mess with traders trust on ctrader. Moreover, Brokers will find a way to mess with your trade tomorrow with no “message” or anything, anybody who like business, software and code knows that. How everything change in the right moment for the right $
In Business term: I think It would be much better to lost some DD brokers but to set a new standard in the industry, a niche, and win more traders fans of Ctrader (that feel protected from DD) than adding this counterproductive “add on” that allows broker to mess with my trade and loss the "edge" of Ctrader (traders trust) as not “traders trusted platform” is a “Dealing Desk platform”
This “add on” do exactly the opposite of the reason why the program was “trust” for the traders in the first place.
Please think it over!
Since the update to Ctrader 3.0 I've found that price action has changed dramatically..... It's like I suddenly forgot how to trade..... win rate has dropped from 76% to 21% in a fortnight, Thankfully dropped to micro lot sizes instantly I noticed the change.... so no real damage.. Indicators all of a sudden mean nothing....
MT4 accounts have not changed..... giving Tradeview a spin as of next week..... Anyone else having similar issues since the Ctrader 3.0 upgrade?
Most unfortunate, I really like Ctrader but after reading the posts above and being **forced** to upgrade while the program is still not bullet proof is just too malevolent for my liking.
The link posted above (https://www.spotware.com/ctrader/back-office/dealing-desk) is not working anymore. When i look at the ctrade suite, i don't see anything mentioned anymore about this dealingdesk add-on. Does this mean that this add-on was discontinued?
If not, it will be absolutely necessary that we can verify this through API, and not only manually by hand.
Thanks in advance.