Jan 20, 2020
Written by: by Panagiotis Charalampous, Head of Community Management of cTrader at Spotware
Traders First™ has been our motto since the inception of cTrader. While many might think that this is just a marketing trick and a nice to hear slogan for traders, Traders First approach is a way of living for us, and a concept closely associated with our business model and success. In this article, I will try to explain why Traders First is not just a catchphrase, empty of meaning, but rather a solid business strategy to which we remain committed even a decade after we started working on this project.
So how does cTrader place Traders First? The common perception would be that because there is no fee charged to the traders for using the platform, then Spotware’s direct clients are brokers. Thus it is their needs that Spotware has to fulfill as at the end they pay the bill. While there is a portion of truth in this statement, indeed brokers pay the bill and we care about them as much, what is not mentioned is what the bill consists of. cTrader is not offered on a traditional software licensing basis, where the client pays for a license to the software company and a support fee to keep the software up and running. Instead cTrader is offered on a platform-as-a-service basis and brokers pay fees based on the volume traded on the platform. This means that the more traders trade, the more money we make. And when do traders trade more? Of course when they are successful. Hence, cTrader aims to attract successful traders and enable them to remain successful in the long term. We want traders to succeed, it is a win-win situation for us.
So how do we put Traders First in action? The pillars of our strategy are the following:
Summarizing the above, we have built a business deeply dependent on traders' success. This is why based on internal reports there are about 35% more successful traders on cTrader, than the industry average. For us, the more the traders stay on our platform, the better. And the more successful they are, the more they stay. We have no interest in scam brokers and we have nothing to gain if traders lose their money and abandon the platform. Therefore every trader should rest assured that cTrader is on her or his side, always putting Traders First.