The LSE Directory / Trading software
Devexperts is a financial software company that builds and licenses trading technology to brokerages, banks, exchanges and proprietary trading firms rather than serving retail traders directly. Its flagship product, DXtrade, is a white-label multi-asset trading platform offered in distinct configurations: DXtrade CFD covers FX, CFDs, spread bets, and spot and margin crypto; DXtrade XT covers listed securities and derivatives such as stocks, options, futures, mutual funds and bonds; and a dedicated prop-trading build serves funded-trader firms. Broker-facing tooling includes real-time margin calculation (Reg T, CME SPAN), fractional and notional order support, and churn-prediction and retention features aimed at the licensing broker's own customer base. Devexperts differentiates itself from more purely productized white-label vendors by pairing its off-the-shelf CFD and XT platforms with a bespoke offering, DXtrade Institutional, a custom front end built on a proprietary framework for banks and institutional venues that need a GUI matching their own and their clients' specific workflows across spot, forwards, swaps, options and NDFs. This consulting-plus-software model is backed by dedicated implementation and ongoing maintenance teams rather than a single shipped product. The company also runs a separate market-data subsidiary, dxFeed, giving DXtrade brokers an in-house option for the price feed alongside the trading front end. Customers range from small and mid-size retail FX/CFD brokers licensing the ready-made CFD platform up to banks and exchanges commissioning custom institutional builds. Devexperts was founded in 2002 by Michael Babushkin, who ran the company as CEO from 2010 until October 2024, when Ben Hurley, previously Devexperts' Ireland country manager, was appointed CEO; Babushkin has remained involved with the company since the transition. Devexperts reports a global engineering headcount of more than 800 and states its platforms are used by over 20 million traders. DXtrade is operated under the legal entity Devexperts Solutions IE Limited, registered in Dublin, Ireland (Babushkin's successor Hurley joined that Irish entity in 2022), while the wider Devexperts group is headquartered in Munich, Germany, with further offices in the US, Portugal, Bulgaria, Singapore and Turkey. Brokers listed as DXtrade clients on the company's own site include Eightcap, BlackBull Markets, Deriv and PrimeXBT. Devexperts states it does not itself provide brokerage services or investment advice; it licenses software to regulated and unregulated firms that do. Under Hurley, Devexperts introduced DXtrade Institutional in 2025 as a distinct bespoke offering for banks and institutional venues, and has said it is prioritizing fractional stock trading, mobile platform development and AI-based tools, with expansion aimed at Latin America and Asia alongside its established US and UK broker base.
