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cTrader launches a new account that complies with France's AMF requirements
Article by Financemagnates:
cTrader has become one of the first white label trading platforms to announce its support for French clients.
Spotware Systems has unveiled a new AMF Compliant Account type, which will be available for use following its next update of cServer the new option offers greater support and flexibility for French clients, including the provision of obligatory new trading conditions for customers, according to a Spotware announcement.
In particular, a recently released AMF statement outlines a mandatory Guaranteed Stop Loss (GSL) that brokers must provide their customers with. Additionally, the AMF decree also entails a series of other components, touching on technology offerings, as well as administrative and marketing efforts on behalf of brokers.
Following the AMF announcement, cTrader will also oversee a Guaranteed Stop Loss mandate that will work in tandem with the option to choose the trigger method of the GSL, i.e. trade side, opposite side, second trade side, second opposite side, strengthening the overall level of protection that is available to traders.
According to James Glyde, Chief Commercial Officer, Spotware Systems, in a statement on the AMF release and subsequent action: Speaking on behalf of the entire team at Spotware, we are proud to have reacted to introducing a critical feature even before any English statement was published by the French regulator or any other European regulator. In a matter of days this feature was in R&D.
Thanks to our agile development approach we are now waiting to release the feature with the next compatible version of cServer according to our version control schedule. We are always looking to increase visibility of financial risks, with or without pushes from the ever changing regulatory landscape, he added.