Spotware Systems, the Cyprus-based developer of cTrader, today (Wednesday) launched a fraud detection service that pools anonymized data from brokers and prop trading firms. The product, cAntifraud, warns every member firm when one of them flags a trader as a threat, the company said.
Abuse spread across several companies is hard for any one risk desk to see. In March 2025, prop firm PipFarm said it had infiltrated a group of about 800 traders who took opposite positions at different prop firms to lock in profits whichever way the market moved.
The losses can be outsized. Ruben Abitbol, former head of trading and risk at The5ers, said last year that fewer than 1% of traders can bankrupt a prop firm that fails to identify them.
London's trading industry is coming home!
Spotware says cAntifraud keeps fraud below 0.08% of turnover and can flag suspicious activity within 15 minutes.
A Third New Business This Year
cAntifraud is the third business Spotware has added alongside cTrader in 2026, by FinanceMagnates.com's count. cTrader itself signed 104 new broker and prop firm clients in 2025, the company said in January.
In March Spotware launched cBridge, a liquidity bridge billed by servers and connections instead of trading volume, and in September it added cFinancial, an institutional liquidity business licensed in Seychelles.
Like cBridge, the fraud service carries a flat fee. Its website lists $999 a month, cut to $250 for firms that join before December 31, with the rate locked for 12 months. It can run alone or alongside cBridge.
Warnings Shared Across Firms
Checks start at onboarding, including initial KYC, and continue once the client trades. The system looks at execution timing, links between accounts and coordinated activity, and member firms exchange that data in encrypted, anonymized form, with each seeing only its own records.
Pavel Demin, general manager of cAntifraud at Spotware, said a risk team usually sees only what happens inside its own firm.
"Trading abuse doesn't stop at the boundaries of a single firm," he said.
For brokers, the service targets introducing broker commission abuse, latency arbitrage, multi-accounting, cross-broker hedging and bonus exploitation. For prop firms, it covers challenge farming, external hedging and breaches of trading rules.
It does not block traders or decide on payouts, the company said. Risk teams get the evidence and act on it themselves, a stance Match-Prime also took with its HawkEye system, which reroutes toxic flow to separate liquidity pools instead of closing accounts.
The nearest model is Centroid Solutions' PropShield, a shared network launched in June 2025 in which prop firms pool anonymized trader data. Spotware's version puts brokers and prop firms in the same network.
The service also connects to MT5 and other platforms through an API. cTrader drew about 574,000 organic visits in the third quarter of 2026 against 3.5 million for MT5, FM Intelligence's platform comparison shows, so the MT5 audience is about six times larger.
This article was written by Damian Chmiel at www.financemagnates.com.
Source: Finance Magnates
