CFD Trading Instrument for FX Brokers With Full Market Control
A gamified high-load and high-speed instrument to trade currencies and commodities in a new manner. Extremely fast order processing. Being a SaaS tool gives complete control of the trading market for each broker providing a fully organized real-time bidding process. A unique trading mechanism analyzes existing data and forecasts using the vector algorithm. Low latency application with a complete set of reports and features to control the broker's financial health.
Technical stack includes:
The task
We were required to create an option and CFD trading platform with an adaptation for smartphones that provided a more engaging and gamified way to do short-term tradings and earn money. The platform had to be designed as a B2B SaaS giving brokers a trading tool to sell to their traders. It has been successfully tested with a few FX brokers in the UK.
The team
That was exactly the case when all funding was in place and our customer required the team to start quickly. During one month, we organized 14 engineers to work on this solution. The team was self-sufficient and did all the job, from analyzing requirements sent by the product manager and to final delivery and support.
Pivots
This SaaS tool had several principle pivots while looking for a working business model. We took part in planning, designing, and implementing each of them. We shifted from B2B to B2C and finally implemented both, trading tools and its UX was modified 3 times, we tried different payment strategies and finally changed the market from the EU to China, which caused many unexpected difficulties and obstacles.
Support & evolution
We have been supporting this project since 2015. During this time, the team changed a few times because the project was on hold while looking for more investments. Despite all the organizational difficulties, we supported it whenever needed. After the new investor joined at the end of 2018, we adapted it to the Chinese market and launched it with several more features. We stayed with it during all the problematic post-MVP phase.
Reactive and low latency application
The historical data graph shows the most recent data changes for the asset you have chosen. The current price is always in the screen's center and updated every 0,4 msec. So as soon as the price is renewed on the market, you can immediately see it.
Thanks to the integration with the price provider, we receive quotes from up to 50 assets. All the above is possible due to the Bigdata storage, which on the one hand, it’s all about large amounts of data; on the other hand, it is also almost always about running analytics on those large data sets.
Trading mechanism
The real-time bidding process is fully organized within our financial trading software and every transaction is carried out at a speed of 0.1 ms. To do this, we use the reactive framework and are working on web sockets that allow us to quickly and securely share data between the server and the front end.
We analyze existing data and make forecasts based on the vector algorithm. It allows us to take a bet to check if the bet was played and whether the client has received the money.
Personal trading configuration
A user can choose his favorite asset class and asset type. We will add more assets and asset classes as more data feeds become available. The visible assets will always only be assets that are available for trading immediately.
If the market for an asset is closed, the asset will not be shown. Also, a client can choose between Currencies, Indices, Commodities, and Sentiments and all the main currency exchange rates are available to trade on.
Open positions opportunities
The financial trading system allows seeing live trades in the Open Positions window and previous trades in the Trade History window. Open Position and Historical Tradeshow details in the Investment Live window. Also, it is possible to exit trades early in the Investment Live window.
Adminisrtation interface
The administration UI developed with ReactJS allows review and edit of all registered clients, review balances and rates of all clients, manage and create brokers, customize broker's service settings, branding, configuration, etc.
Reporting we developed to maintain the market
- Cohort analysis
- Marketing support
- Financial Monitoring
- Risk management
- Trade Management settings - minimum and maximum amount of investment, market availability time, etc.
Server Architecture
The server solution is based on microservice architecture including 7 microservices and the big data configuration.
It allows a huge data flow from 3d party price providers, fast execution of orders, attaching external systems via API and serving many FX brokers who might use this tool simultaneously.
Customer feedback
"I reached Ardas because they had experience in developing Saas products and at the same time understanding the fintech industry, in particular forex trading and the work of brokers. It was a remarkable coincidence.
They made an MVP within five months. It was a product that I showed to investors, and it inspired them. Thanks to this, I closed several rounds of investments. Then we made a product that meets all the standards of the trading world in terms of security and the speed of updating information and executing transactions.
Initially, the system was planned as binary options trading, but due to the fact that in 2017-2018 it was banned in many countries, we have reformed the product into CFD trading.
Ardas proved to be very flexible in this situation - they discussed our new goals and vision. They built a plan and implemented it in a few months. During all this time, we did not feel any technical difficulties. They did everything themselves, and we only had to approve the priorities.
Another big technical challenge we had was entering the Chinese market. That included a transition to Alibaba servers, Chinese payment systems, support for several languages.
There were many technical hurdles with this, and few people have experience with Chinese infrastructure. Still, Ardas figured it out and ensured us the smooth operation of our product in China."
Do you have a similar product that requires development?
Whatever stage your solution is at, contact us to discuss it. It is FREE and we engage fast. We will help you onboard the right engineers with solid experience in SaaS development and a deep understanding of SaaS business, better planning, priorities, and realistic estimations.
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