Panagiotis Charalampous Discusses New Release of cTrader and Trading Platform Trends

Recently, online trading platforms and applications provider Spotware​ announced the release of its cTrader Desktop 4.0 version, so Fazzaco​ caught up with Panagiotis Charalampous, head of community management at Spotware (cTrader) to know more the new functions, trading platform trends etc.

Panagiotis is responsible for the development and growth of cTrader Community and helps traders embrace cTrader products and expand their knowledge by realizing the platform's potentials.

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Fazzaco: Thank you for joining Fazzaco today. To begin with, please introduce yourself briefly, as well as elaborate on your role at Spotware and your professional background.

Panagiotis: My background lies in software engineering and I have spent years managing software development teams. I have been at Spotware for the past four years and am currently the Head of Community Management. My daily duties include managing various community-driven projects, such as open source projects, technical documentation and translations, managing our relationships with the community and the most valuable partners, as well as coordinating with product managers regarding the future roadmap of our platform.

Fazzaco: Before we get into today’ s main topic, let’s talk about the business impact of COVID-19. Please tell us a little bit about the developments and challenges your company has faced amid the pandemic?

Panagiotis: COVID-19 has no doubt affected everyone’s lives and Spotware is no exception, but we must admit that the transition to the pandemic mode of operations has been easier for us than for many other businesses out there, simply due to the nature of our work. Having to operate a performance-critical business, we have always had contingency plans in place, therefore the transition from office-based operations to remote work was achieved rather quickly.

Fazzaco: Spotware has recently announced the release of the cTrader Desktop 4.0 version. Could you tell us more about it?

Panagiotis: cTrader Desktop 4.0 is a huge milestone in the development of the platform. The release comes with an entirely new level of chart features, as well as advanced analysis aids. As some of the major user experience perks go, we highlight the introduction of Active Charts in conjunction with an increased range of hotkeys, the integration of Autochartist and FXStreet News for a complete technical and fundamental analysis, as well as an API for handling chart activation/deactivation and a new cBot hotkeys API.

Fazzaco: What would you say differentiates cTrader from other trading platforms in the industry?

Panagiotis: What really makes us stand out from competitors is, no doubt, our Traders FirstTM approach. All our development efforts are driven by traders’ best interests, which has allowed us to build a trustworthy infrastructure that sparks confidence in traders and puts an end to bad practices and shady actions of some brokers. Additionally, we pride ourselves on top-notch technology that enables the delivery of a premium experience to both - brokers and traders.

Fazzaco: Would you mind telling us the current market share of your trading software?

Panagiotis: It would be difficult to calculate exact market share since there are so many unregulated and offshore brokers, but what we have picked up on as a platform provider is that more and more brokers require cTrader -either because they have difficulty capturing more market share, or because their traders and money managers demand it.

Fazzaco: More and more brokers develop their own trading platforms, in your opinion, what are the pros and cons of doing so?

Panagiotis: There may be some advantages in developing your own trading platform, such as offering a distinct experience to your clients, but the huge cost of implementing such a project with success usually outweighs all the benefits. We have always believed that a unified trading experience across brokers is beneficial for both brokers and traders. Nevertheless, cTrader has always offered the option to brokers that still wish to differentiate, to build their own customized trading platform and trading experience on top of the cTrader infrastructure, using our various frontend and backend APIs without having to reinvent the wheel.

Fazzaco: What do you think brokers should consider when choosing a trading software?

Panagiotis: There are several aspects that need to be considered when making such a decision. In my opinion, the most important one is the business philosophy of the platform provider. Here at Spotware we offer cTrader on a PaaS basis and we are driven by a “we grow as you grow” business model that allows us to align our interests with the interests of our clients and users. In other words, we make money only when our clients and users do. Besides that, before selecting a trading platform for your business I would advise to consider not only the current status of your solution, but also its future potential. For instance, you may want to ask yourself where the platform in question will be in 5-10 years, and how does it fit your own business ambitions.

Fazzaco: How do you see emerging trends in mobile trading? Will Mobile end up replacing Desktop?

Panagiotis: Mobile trading will remain dominant in the coming years, but I do not believe that it will replace desktop. Each device serves a different purpose. Desktop applications are mostly used for analyzing the markets and executing your trades, while mobile ones are very helpful to monitor your trades and the market conditions, as well as to take corrective actions when necessary. I believe that the future is all about smooth interoperability between different devices that serve different needs and use cases.