US forex giant Forex Capital Markets (NASDAQ:FXCM) said on Monday it has introduced Live Trading Integration with algorithmic trading platform QuantConnect. Currently, live trading via QuantConnect is only accessible to FXCM clients from the US. The broker did not disclose whether the service will be offered in other markets soon.
As a result of the partnership, algo traders can run strategies with no restrictions and benefit anonymous order execution. QuantConnect users can access FXCM’s historical tick, second and 1 min price history dating back to 2007, as well as search thousands of solutions, clone algorithms with one click, and get advice from experienced quants. On its part, FXCM will expand its ecosystem and the scope of platform options for the algorithmic trader.
“FXCM is excited to work with such an innovative technology company like QuantConnect. FXCM sees tremendous value for algo traders in their open source model that offers outstanding flexibility and power for strategy creation and backtesting,” said Ornit Niv, FXCM US CEO.
FXCM Group operates via several subsidiaries – US-regulated Forex Capital Markets LLC, UK-licensed Forex Capital Markets Ltd., and Australia-regulated FXCM Australia Pty. Ltd., as well as introducing broker (IB) partners. It is 50.1% majority owned by FXCM Inc. The rest of the group moved to the hands of US lender Leucadia National Corporation earlier this year.
QuantConnect is a cloud-based algorithmic trading platform. It enables testing investment strategies in equities, forex, contracts for difference (CFDs), options and futures markets. The platform is built on Lean Algorithmic Trading Engine (LEAN), an open source fully managed C# algorithmic trading engine designed for desktop and cloud usage.
Other forex brokers that have live trading integration with QuantConnect include Interactive Brokers and Oanda Corp., also in the US.