An external
tool supporting algorithmic trading solutions for cTrader has partnered with
FTMO. According to the software developers, they have become the first strategy
builder to sign this type of partnership with a popular prop firm.

AlgoBuilderX
and FTMO Form Partnership

“We
are excited to announce a new and prestigious partnership between AlgoBuilderX
and FTMO, one of the most respected and well-known prop firms worldwide,”
AlgoBuilderX commented today (Thursday) on social media.

As part of
the partnership, FTMO clients who want to create their own trading algos
compatible with the cTrader platform will be able to receive a 25% discount on
tools offered by AlgoBuilderX.

AlgoBuilderX
is a web-based platform designed to create and backtest algorithmic
trading strategies specifically for Spotware’s cTrader. The application allows
users to create “cBots,” which can be run for free on cTrader
servers.

AlgoBuilderX
was created by Italian-born Matteo D’Elia, and the product was officially
launched earlier this year. Finance Magnates reached out to D’Elia for
additional comment, but no response was received at the time of publication.

How It
Works

• Strategy
  Creation: Users build their trading algorithms using the 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, leveraging the platform’s integrated data sources.
• Backtesting:
  The created strategy is then tested against historical data to evaluate its
  performance under various market conditions.
• Analysis
  and Optimization: Users can analyze the backtesting results and use the
  platform’s optimization tools to refine their strategies for better
  performance.
• Deployment:
  Once satisfied with the strategy’s performance, users can potentially deploy it
  for live trading, depending on the platform’s capabilities and integrations.

FTMO’s
Performance, Hiring, and Organizational Changes

As for FTMO
itself, there’s been a lot happening at the Czech prop firm recently. As
Finance Magnates exclusively reported, it generated a turnover of almost CZK 5
billion (over $213 million) in 2023.

“Last
year was significant for us for several reasons, but the main one is clearly
the transition from a company focused on a single business to a group that
synergizes different sectors,” said Otakar Šuffner, co-founder and CEO of
FTMO.

Meanwhile,
the prop trading giant has strengthened its C-Suite, with Radek Dyntar
appointed as CFO and Eva Svobodová as the Chief Legal Officer.

All this is
happening as the prop firm prepares to become a full-fledged broker.
Specifically for this purpose, they appointed Michael Kamerman as the Chief
Executive of its brokerage division.

“Like
all things, online trading evolves,” said Kamerman. “The needs of
traders are changing all the time, and FTMO has caught lightning in a bottle.
Their business is one built on product and relentless customer focus. Their
ongoing drive to innovate and launch trader-first solutions caught my eye years
ago.”