Devexperts has reported a substantial increase in active accounts on its DXtrade SaaS platform, which reached approximately 1 million in 2024. This figure represents a threefold rise compared to the previous year and highlights the platform’s growing popularity among traders using contracts for differences (CFD) brokers and proprietary trading firms. The total does not yet account for December’s data.
The reported active accounts reflect usage from traders affiliated with DXtrade SaaS clients, excluding Devexperts’ enterprise clients, which remain a major part of its business and encompass over 20 million accounts globally.
Adapting to Market Needs Drives Growth
Jon Light, Head of OTC Platforms at Devexperts, attributed the platform’s impressive growth to its robust features and adaptability. Speaking about the market’s evolving dynamics, he highlighted the shift towards proprietary trading as a significant growth driver over the past year.
In March 2024, Devexperts announced the onboarding of a dozen proprietary trading firms within five days. By August, the platform had signed over 40 firms. This rapid growth was partly fueled by MetaQuotes’ regulatory challenges, which forced many proprietary trading firms to seek alternatives to the MetaTrader platforms that were widely used by U.S.-based traders.
Light noted that while overnight migrations posed logistical challenges, the company successfully executed them to ensure client satisfaction. With a global team of more than 800 engineers, Devexperts has positioned itself to manage growing demand and support the needs of its expanding client base. However, the exact number of brokers and proprietary trading firms actively using DXtrade remains undisclosed.
Focus on Cash Equities and Regional Expansion
Devexperts is planning to enhance its platform further in 2025, with a strategic focus on introducing a cash equities solution to complement its existing offerings. According to Light, the company’s goal is to continue aligning its products with market demands and ensuring consistent improvements.
In addition to product development, Devexperts is expanding its geographic reach. The company has announced plans to open a new office in Dubai by mid-2025 to address the growing demand for trading and financial technology solutions in the Middle East and North Africa (MENA) region.
This significant growth in DXtrade SaaS accounts underscores Devexperts’ ability to adapt to changing market conditions and its commitment to providing flexible and innovative trading solutions to its clients worldwide.
