An external tool supporting cTrader algorithmic trading solutions has announced a partnership with proprietary trading firm FTMO. According to the software developer, they have become the first strategy building platform to sign such a collaboration with a renowned proprietary trading company.
AlgoBuilderX and Proprietary Trading Firm FTMO Establish Exclusive Partnership
AlgoBuilderX stated on LinkedIn on Thursday: "We are excited to announce that AlgoBuilderX has established a new, significant partnership with FTMO (one of the world's leading proprietary trading firms)."
As part of the collaboration, FTMO's clients who wish to create their own trading algorithms compatible with the cTrader platform will enjoy a 25% discount on tools provided by AlgoBuilderX.
AlgoBuilderX is a web-based platform specifically designed for creating and backtesting algorithmic trading strategies for Spotware's cTrader platform. The application allows users to create "cBots" that can run for free on cTrader servers.
AlgoBuilderX was created by Italians Matteo D'Elia and Alessandro Dei Negri and launched earlier this year. D'Elia further stated in an interview with foreign media Finance Magnates, "We are extremely grateful and excited to establish this exclusive partnership with an industry leader."
How AlgoBuilderX Works
- Strategy Creation: Users construct trading algorithms through a visual interface, combining different components to define entry and exit rules, risk management parameters, and other strategy elements.
- Data Selection: Traders choose the financial instruments and time frames they want to analyze, utilizing the platform's integrated data sources.
- Backtesting: Created strategies are tested against historical data to evaluate their performance under various market conditions.
- Analysis and Optimization: Users can analyze backtesting results and use the platform's optimization tools to improve strategy performance.
- Deployment: Once satisfied with the strategy's performance, users can deploy it to actual trading based on the platform's capabilities and integrations.
FTMO's Performance, Recruitment, and Organizational Changes
FTMO, the Czech proprietary trading firm, has undergone many changes recently. According to an exclusive report by foreign media Finance Magnates, the company achieved nearly 5 billion Czech crowns (over $213 million) in revenue in 2023.
Otakar Šuffner, co-founder and CEO of FTMO, stated: "Last year was significant for us, mainly due to the transition from a company focused on a single business to a group synergizing different areas."
Meanwhile, FTMO also strengthened its top management team, appointing Radek Dyntar as CFO and Eva Svobodová as Chief Legal Officer.
All this is happening as FTMO prepares to become a full-fledged broker, for which they have specifically appointed Michael Kamerman as CEO of the brokerage division.
"Like all things, online trading is constantly evolving, and traders' needs are changing. FTMO has seized this opportunity perfectly. Their business is built on products and a constant pursuit of customer-first approach. Their continuous innovation and launch of trader-first solutions caught my attention several years ago."
Reference：Prop Firm FTMO Partners with cTrader Algo Building Tool
