One FX Brokers’ software developer by the name of Tools for Brokers, has launched a TCA program by the name of Terminal Cost Overview. This new TCA will be used within B2B solution for the Forex platform MetaTrader 4.
Like other forms of the TCA (Transaction Cost Analytics) program, it gives traders the ability to examine the many intricate little pieces of trading data and allows them to have a full, clear picture of what they’re getting into with each trade. Things like the cost for spread, commissions, and even swaps before trades. This increase in transparency will allow traders to mitigate risks and, in turn, gain higher profits due to the lack of unforeseen costs within a trade.
Terminal Cost Overview was created to boost transparency and trader abilities. The TCA gathers transaction and account data of up to 25 000 different trader accounts, then displays the info on a neat, dedicated dashboard on the trader’s client-server, refreshing every 60 seconds to stay up to date. All in the attempt to meet the best execution for each trader’s transactions.
Chief Operations Officer of Tools for Brokers, Albina Zhdanova, described how highly regulated the Forex industry was, even if said regulations differed by country. With the new TCA, every trader has the ability to make transactions while being safe in the knowledge of the fact that they are complying with the laws set in place, wherever they may be in the world.
She explained that, no matter what, Terminal Cost Overview’s sheer transparency will always attract traders. More transparency means no more surprises for traders. Things like commission won’t be veiled behind something. Instead, traders can see everything that affects the return on their trades.
About the creator
Starting ten years ago in 2009, Tools for Brokers dealt with software solutions and risk management utilities, mostly on the MT4/MT5 platform and subsequently boasting a fair amount of plugins they can provide. With solutions for both Forex and the lucrative cryptocurrencies, such as Business Broker Intelligence (or BBI) and PAMM (Percentage Allocation Management Module) that have all had an impact in creating a more transparent, more profitable format to facilitate trades in.
The company even went through a rebranding in November 2018 to help strengthen their brand and visualize their then-almost ten-year lifespan. Tools for Brokers is planning to stay in the game for a long time.
Although they are known to be one of the best, Tools for Brokers aren’t the only fish in the sea of TCAs. A company by the name of Virtu Financial Inc had launched their own TCA earlier last week, but that company is suffering from some losses in revenue, so who knows what will happen to them in the future.