Spotware Systems, the developer of the popular cTrader trading platform, announced it is introducing the FIX API credentials for all cTrader accounts by default. According to the company statement, it is the first retail trading platform to offer such functionality.
The new update, already active as of August 1, is available through a new menu item called FIX API in the cTrader and cAlgo terminals. The option will soon be rolled out for the cTrader Web version as well. The FIX API is available both on the netted and hedged accounts.
“From the very beginning our aim has been to deliver an institutional environment to retail traders, this has been achieved through a variety of key areas and this is a major contribution to the industry leading service which our broker-clients can deliver to their traders,” said James Glyde, Head of Business Development, Spotware Systems. “We have opened up this feature to any trader, regardless of their deposit size. This is another feature which will be available out of the box to benefit everyone.”
FIX API stands for (Financial Information Exchange) API (application programming interface). It is an electronic communications protocol for financial information exchange and is used for communications between a client, trader, investment fund or broker and a liquidity provider. The FIX API is a universal standard that was first developed by programmers in the early 1990s to provide communication support when trading stocks. Since 1998 it is developed, expanded and supported by a non-profit organization called FIX Protocol Limited.
The FIX API provides more control over the interface and functionality of an existing trading platform, faster order execution, better safety and anonymity and improved connection with the liquidity provider.
However convenient it may be, retail brokers impose on their clients high minimum requirements, be it on trades, volume or deposit size and the FIX API is not easily available to vast number of users.
Spotware Systems is the developer of the popular cTrader platform used by a number of brokers in the retail forex and CFD industry such as FxPro, Axiory Global, RoboForex, Pepperstone, FIBO Group and TradeView Markets.
Spotware Systems also offers mirror trading platform cMirror, algo and technical indicator coding application cAlgo, cloud-based solution cServer, and agnostics aggregator cAggregator. Its competitors include software developers MetaQuotes Software, developer of the MetaTrader 4 and 5platforms, ActTrader, and Tradable.