Top Prop Firms with DX Trade Explored - Is it a good platform?! (2024)

Financial traders are increasingly turning to proprietary trading as a means of gaining recognition and accessing large funded accounts. Proprietary trading, or prop trading in short, allows traders to pay a small fee for the funded challenge and gain access to the funded account with much more capital than what they could normally afford. This distinctive advantage of prop trading is a good attraction for traders with all backgrounds and experience levels. DX Trade is a powerful multi-asset trading platform offering advanced functionality like other well-established platforms such as MT4, MT5, and cTrader. The platform provides advanced charting and tools to allow traders to speculate on a range of markets, especially on cryptos, CFDs, and stocks.

DX Trade Platform Explained

DX Trade or DX is a digital trading platform allowing traders to speculate on various markets including cryptos and digital stocks. It is a trading platform designed primarily for brokers who offer Forex and CFDs. It aims to expand newly established Forex brokers and include tools for client retention, engagement, and risk management. The main goal of the DX platform is to bridge the gap between cryptos and traditional stock markets by offering services and products that are appealing to both traditional investors and crypto enthusiasts. Let’s list some of the main features of the DX platform:

Cryptocurrency trading

Traders can select between a wide range of cryptos, including major ones like Bitcoin (BTC) and Ethereum (ETH), as well as a selection of altcoins. The number of assets is always dependent on the broker and prop firm providing access to the DX platform. DX platform was designed to operate within high liquidity and high volatility markets, with its high execution speeds allowing for implementing scalping strategies.

Digital Stocks and Tokens

DX Trade platform allows trading on tokenized stocks or digital tokens that represent shares in traditional companies, enabling traders to trade stocks 24/7 in a tokenized form. This adds crypto trading flexibility to stock trading and opens up a great future for trading in tokenized assets without certain trading hours. Because of regulatory hurdles of cryptos and tokens, tokenized shares are trading assets of the future, but DX Trade has the potential to fully support these assets.

User Experience

DX Trade is a user-friendly platform that offers a modern design, making it appealing for both novice and experienced traders. Robust security measures are implemented to protect users’ private data and funds when trading on DX Trade, including advanced encryption.

Top DX Trade Prop Trading Firms

Here are the top prop firms that offer an innovative DX Trade platform to their funded traders.

Pros and Cons of the DX Trade Platform

DX Trade is an innovative trading platform and comes with both pros and cons. Here are some of the important benefits and drawbacks of using DX Trade as your main trading platform in financial trading, especially in prop trading.

Pros of DX Trade trading platform

Innovative Trading Options

DX Trade comes with innovative trading asset selection such as tokenized stocks, allowing traders to speculate on shares of traditional companies in a digital, tokenized format. The platform is very innovative and allows for a seamless trading experience with new asset classes.

Accessibility and Convenience

As a platform focused on bridging the gap between traditional stock trading and crypto trading, DX Trade provides 24/7 trading capabilities. Unlike traditional markets which typically come with strict trading hours, DX Trade offers superior flexibility and convenience for global traders across different time zones using its crypto and tokenized shares trading capabilities.

Diverse Asset Selection

The platform provides a wide range of trading assets, including major cryptos, altcoins, and possibly other digital assets, answering to diverse investment preferences and strategies. Traders can speculate on Forex pairs, stocks, CFDs, cryptos, tokenized assets, and more.

Advanced Trading Features

DX Trade provides advanced functionality including technical indicators, chart analysis tools, and risk management tools. The ability to use advanced functions makes it useful for seasoned traders.

Security Measures

DX Trade has robust built-in security features such as encryption and multifactor authentication to protect users’ data and personal information. Security is always a major concern when selecting a newly developed trading platform, and DX Trade addresses these concerns very well.

Regulatory Compliance

The platform strives to comply with relevant financial regulations and provides a sense of legitimacy and security to its users by adhering to KYC and AML standards.

Cons of DX Trade trading platform

Not accessible for retail users

To access the platform, traders are required to have a trading account or a funded account with a broker or prop firm. The platform is only available for professional clients and businesses such as brokers and prop firms. This is a huge issue for the platform, as the feedback from retail traders is always an important factor for developing and refining better software.

Regulatory Risks

Despite the platform’s struggles to be compliant, tokenized assets are not very well regulated at this point and brokers and prop firms providing these assets will have to work hard to not get into trouble for offering unregulated asset classes. However, if these assets become properly regulated, DX Trade will have a competitive advantage over competitor platforms.

Market Volatility

DX Trade allows traders to access highly volatile markets, which can expose inexperienced traders to significant price swings and the risk of substantial losses.

Complexity for Beginners

It requires time and effort to master a new trading platform, and DX Trade is no different. Traders will have to allocate proper time to learn how to use DX Trade optimally.

Limited Physical Asset Ownership

When trading tokenized stocks and other digital representations of physical assets, users do not hold the actual underlying asset. While it is common for derivatives traders to just speculate on representations of actual assets, some investors might now find it comfortable not to hold cryptos and tokens in their wallets.

Dependence on Technology

Being an online platform, DX Trade might get exposed to hackers and other cybersecurity threats. This threat is also real for other platforms, but since this platform is new, the chances of it getting hacked are higher than for well-equipped platforms.

Potential for Technical Issues

Like any other newly developed platform, DX Trade has the potential to have technical issues that need to be addressed. Depending on the expertise of its developer team, these issues could be resolved faster. Technical issues or downtime is the worst-case scenario for traders who have open positions in financial markets.

Installation Guides for desktop and mobile

Brokers have to choose between different types of DX Trade platforms according to their needs. DXtrade CFD is a platform for FX, CFDs, and spread betting. DXtrade XT is aimed at offering access to stocks, options, futures, mutual funds, and bonds. DXtrade Crypto provides brokers the ability to offer their clients cryptos, both margin and spot. To access and install this platform, traders must have an account with the broker or a prop firm that offers the DX Trade platform. For retail users, it is possible to download and install the platform via mobile app stores. However, without having login credentials it is not possible to use any of the platform’s features, which is a serious drawback.

Criteria for Selecting the Best Prop Trading Firms with DX Trade

The best way to access DX Trade is through a prop firm that has a regulated partner broker that offers the platform. This ensures the prop firm is legit and allows traders to access live markets. Another reason why prop firms with regulated broker partners are more important is their low spreads and commissions. Well-regulated brokers have to work in a highly competitive environment, and they often have to offer competitive spreads, which is always good for traders. The lower the spreads and commissions, the higher the potential profits made in trading. The fastest way is to see our list and select any firm depending on your trading preferences, while the slower path is researching the web and then evaluating each firm one by one to select the best.

Choosing Between DX Trade and Other Trading Platforms

So, why would you select DX Trade over other advanced platforms? There are not many reasons why someone would opt for DX Trade when there are advanced platforms such as MT4, MT5, and cTrader all offering advanced functionality, multi-device support, automated trading robots, and custom technical indicators. Here is the comparison between DX Trade and other well-established platforms:

User Interface and Usability

DX Trade: Stands out with modern design developed for both beginners and advanced traders in mind. It can be accessed on mobile and desktop platforms.

MT4/MT5: Advanced user interface, a bit of old design, but very functional. MT5 offers a fresher look than its predecessor, MT4. Both platforms maintain robust functionality and are accessible on various devices, catering well to a broad user base.

cTrader: Offers a user interface that is both modern and easy to navigate, aligning closely with DX Trade’s emphasis on user experience. It’s designed to cater to the needs of the modern trader, providing a comfortable trading environment on any device, whether desktop or mobile.

Charting and Analysis Tools

DX Trade: Grants traders a wide variety of charting tools and technical indicators for a thorough market analysis. Drawing tools Fibonacci levels can also be used.

MT4/MT5: Known for their comprehensive charting capabilities and plenty of built-in technical indicators. MT5 edges out MT4 slightly regarding the available indicator numbers and tools. Both platforms support custom indicators for more personalized trading strategy development.

cTrader: Excels in providing advanced charting tools and a generous selection of technical indicators. Its presentation is clean and user-friendly, emphasizing accessibility without sacrificing depth, similar to what users find in MT4 and MT5 platforms.

Algorithmic Trading and Custom Indicators

DX Trade: supports both custom indicators and algorithmic trading, catering to traders who favor automation in their trading practices, adding to their flexibility in financial markets.

MT4/MT5: These platforms are famous for their Expert Advisors (EAs) feature, enabling the use of advanced automated trading bots and custom indicators extensively. The language is MQL5, which is similar to C++.

cTrader: Comes with advanced automated trading capabilities through cBots and custom indicators. The platform supports C# for developing automated robots and indicators, which is a popular language.

Market Accessibility

DX Trade: offers real-time access to a diverse range of asset classes including Forex, CFDs, stocks, cryptos, and tokenized shares. Prop firms and brokers can select between different variants of DX Trade depending on the asset they are going to offer.

MT4/MT5: Focus primarily on Forex trading, with MT5 expanding the scope to include stocks, futures, and options for a more diversified trading experience.

cTrader: Provides access to a wide array of markets including Forex pairs, commodities, and CFDs on indices, stocks, and cryptos. Similar to DX Trade, cTrader supports a broad range of assets.

Community and Support

DX Trade: Despite being a newly established platform, it quickly grew its community of traders, supported by educational resources. Its community is smaller but rapidly catching up to the more established platforms.

MT4/MT5: These platforms boast large, well-established communities with extensive resources, custom scripts, and third-party applications, including indicators and EAs. There are thousands of free EAs on the internet available for download from the large community of MT4 and MT5, which makes them superior to other platforms in this list.

cTrader: While inferior in community size to MT4 and MT5, cTrader is still a decent platform with a decent community, much larger than DX Trade and with plenty of resources and robots available online.

FAQs on Top DX Trade prop trading firms