DXtrade Targets UK Brokers as It Allows Spread Betting Offerings

Brokers licensing DXtrade can now offer spread betting, along with FX and CFDs.

Spread betting is popular in the UK as gains are tax-free.

Devexperts has enhanced its white-label trading platform offering by adding support for spread betting on DXtrade. Announced on Tuesday, brokers licensing the trading platform can now offer spread betting instruments along with forex and CFDs.

Spread betting, as its name implies, allows someone to bet on outcomes in the financial markets. These are derivative instruments, and traders can take positions both for and against the markets.

These instruments are very popular in the United Kingdom as the profits generated by trading these instruments are not taxed. Several retail UK brokers, including IG, CMC Markets, Spreadex and Trade.com, are offering spread betting instruments.

Devexperts added the spread betting support based on the high demand for these products it has observed in the past few months.

“Adding spread bets is a great opportunity for the UK brokers as it can help diversify and expand their audience. It’s an equally beneficial instrument for established brokers looking to offer something new and for startups looking to target a certain client segment,” said Jon Light, the Vice President of VP of Trading Solutions at Devexperts.

“As a broker using DXtrade, you can hedge spread bet client positions directly with the CFD market.”

A Third-Party Trading Platform

DXtrade allows brokers to license its trading platform with specific customizations. Devexperts has also been enhancing the services of its trading platform for a while now and has added high-demand features like spot crypto trading. In addition, it launched a new platform called DXtrade XT, which is focused on fractional stock trading.

To stay ahead of the competition, DXtrade has tapped the services of popular liquidity providers and hubs, including GCEX, PrimeXM, OneZero and Centroid.

While DXtrade is enhancing its service, MetaTrader platforms, which captured 83.8 percent of the total market share of FX and CFDs trading platforms by the end of Q2 2022, received a massive blow as technology giant Apple delisted its apps from App Store.