Sergey Luts (also published as Sergiy Lutsak) is the founder of HFT Software and the lead developer of HFT Forex Copier, a trade copier for MetaTrader 4, MetaTrader 5, cTrader and FIX API accounts. He has been building trading technology since 2000 and specializes in high-frequency trading systems, latency arbitrage and low-latency trade replication.
At a glance
- Role
- Founder and lead developer at HFT Software; developer of HFT Forex Copier
- Experience
- Trading technology since 2000: high-frequency trading systems, arbitrage strategies, trade copiers
- Education
- Dnipropetrovsk State Technical University, graduated 1999
- Focus areas
- Latency arbitrage, market microstructure, FIX API connectivity, MT4 / MT5 / cTrader integration, low-latency execution
- Languages
- C#, C++, Python
- Also develops
- HFT Arbitrage Platform, arbitrage software for forex, gold and crypto
- Publishes as
- Sergiy Lutsak on LinkedIn, Academia.edu, DEV, Hashnode and Medium
Background
Sergey was born in Dnipropetrovsk (now Dnipro), Ukraine, graduated from Dnipropetrovsk State Technical University in 1999 and has worked on trading technology since 2000. Over more than two decades he has designed and built high-frequency trading systems, including a hedge fund project where he helped create a successful trading solution.
He later continued independently and founded HFT Software, bringing together a team of mathematicians and traders to build professional trading technology. He has been involved in the development of hundreds of trading strategies, tested over long periods, with only the strongest selected for commercial use. That work includes dozens of arbitrage strategies and a very fast Forex trade copier built for high-performance trading environments, the product that became HFT Forex Copier.
Sergey writes the technical articles on this site: how trade copiers behave under real latency, how FIX API execution differs from MetaTrader, and how brokers and prop firms treat copied and arbitrage order flow.
Research and publications
Research papers
Lutsak, S. (2026). Trade Replication Latency in Retail Foreign Exchange: A Decomposition Framework and Measurement Protocol for Cross-Platform Copy Trading. Academia.edu.
A framework for the delay between a master fill and a follower fill: six latency components with defined measurement points, five copier architectures, simple models of what the delay costs, and a protocol for measuring and reporting it.
Lutsak, S. (2026). Latency Arbitrage in Retail Foreign Exchange: Mechanisms, Detection, and the Broker Response. Academia.edu.
A survey of latency arbitrage in retail FX: how the strategy works, a taxonomy of its variants, the infrastructure it requires, how brokers detect it and the countermeasures they deploy.
Articles
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FIX 4.4 in C# From Scratch: Build, Checksum and Parse Orders Without a Library
What goes over the wire when an order is sent through a FIX API: message layout, BodyLength and CheckSum, TCP stream framing and an allocation-free ExecutionReport parser, with working C# code and no libraries.
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MT4/MT5 to FIX API: Should You Bridge It, or Trade Direct?
Two routes to FIX-grade execution: keep MetaTrader and mirror trades to a FIX account with a copier, or trade directly through a FIX terminal.
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Why Your Forex Broker’s Price Is Always a Few Milliseconds Behind Reality
Why retail FX quotes lag the underlying market, how latency arbitrage uses that gap and how brokers respond.
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Forex Copier Coding Based on Forex Bots
A simplified MQL4 master/slave example of how a trade copier replicates orders, and what a production-grade copier needs beyond it.
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Arbitrage trading from a forex broker’s perspective with our comments
The techniques brokers use against arbitrage traders, from execution delays and spread widening to virtual dealer plug-ins, with commentary.
Recent articles on this site
- Latency Arbitrage with a Trade Copier: How It Works in 2026
- FIX API Terminal vs HFT Forex Copier — Which to Use
- Cloud vs Local Trade Copier — Latency Benchmark
- Best Forex Trade Copiers for Prop Firms in 2026
- cTrader Copy vs Local Trade Copier: Honest Comparison
Articles by Sergey Luts cover trading technology and are educational. They are not investment advice; trading leveraged products carries a high risk of loss.