In today's Fintech Spotlight, we take a closer look at Tradier and their Brokerage API model to connect traders and technology developers.
Readers of the Finance Magnates Fintech section will have seen the name Tradier come up often. A creator of what they call an ‘API Brokerage’, the firm has inked deals with numerous trading technology developers such as QuantConnect, Option Samurai and Instavest. With interest growing for their services, today’s Fintech Spotlight focuses on the company behind these recent partnerships.
What is a ‘Brokerage API’?
At its core, Tradier is a US equities and options trading broker. What sets it apart, is that rather than soliciting its own clients through the creation of a proprietary platform, Tradier focuses on enabling technology and platform providers to offer brokerage services to their clients. To do this, Tradier created an API framework of its brokerage services that can be integrated to external platforms. The result, is that traders ultimately have a brokerage account with Tradier, but the front-end for their trading and analysis is with a separate firm.
Speaking with Craig Russell, Senior VP of Product and Chief Evangelist at Tradier, he stated to Finance Magnates that from the firm’s inception, “API first enablement, has always been the vision of the firm”. As such, their goal was to create a structure that could connect “great technology on our API”. Russell explained that connections vary between partners, with some only integrating basic brokerage services such as sending orders and account information, while other are using market data from Tradier to power sophisticated market analysis products.
One account, many platforms
For end users, one of the results of Tradier’s model, is that it avails them the ability to use multiple front ends, with one account. As such, after a customer opens a Tradier account with Scutify, and uses that social investing platform to trade stocks, they can also connect with Orca, to use their service to buy and sell options.
One potential worry though for Tradier’s partners is that the overlap of products could cannibalize activity on their platform. For example, Tradier currently connects with multiple options analysis platforms such as Option Samurai, Orca, OptionVue and Option Pit.
Answering whether there is a risk of product overlap among its partners, Russell acknowledged that there are similarities among connected platforms. However, he stated that “at the end of the day this is a benefit to clients since end-users get a variety of technology to choose from”. Russell explained that the reality is that traders will typically use multiple products to analyze and trade the market. Therefore, technology partners benefit as Tradier account holders try different systems to fit their needs. As such, Russell explained that the partnership with developers isn’t simply one where they refer customers to Tradier in exchange for brokerage services, but a “two way street”.
Onboarding partners
In terms of adding partners, Russell explained that the firm is both approached by technology providers as well as searches for platforms that they feel will be a good fit for their Brokerage API. As part of the integration, there is a vetting process where Tradier reviews potential partners to ensure it’s a good fit. Once approved, partners decide which features of the API they want to integrate, with Tradier providing several data connection solutions such as REST API.
Today’s world it is a multi-asset trading world - Craig Russell
In regards to regulatory restrictions, Russell explained that they are currently working with both US and non-US technology developers. As technology firms, Tradier’s partners aren’t required to be registered as broker dealers themselves, but are listed as software vendors.
Multi-asset future
While open to international developers, Tradier currently only accepts end-user clients from the US. However, among the firm’s futures plans is an international expansion to allow for onboarding of non-US account holders.
In addition, Russell mentioned that the firm has received interest for additional asset classes beyond just stocks and options. As such, Russell explained that “today’s world it is a multi-asset trading world”, with Tradier “actively pursuing what it would take” to add additional products such as futures and Forex trading.
Fintech Spotlight is a new column on Finance Magnates devoted to reviewing innovative financial technology companies and sector trends.
Readers of the Finance Magnates Fintech section will have seen the name Tradier come up often. A creator of what they call an ‘API Brokerage’, the firm has inked deals with numerous trading technology developers such as QuantConnect, Option Samurai and Instavest. With interest growing for their services, today’s Fintech Spotlight focuses on the company behind these recent partnerships.
What is a ‘Brokerage API’?
At its core, Tradier is a US equities and options trading broker. What sets it apart, is that rather than soliciting its own clients through the creation of a proprietary platform, Tradier focuses on enabling technology and platform providers to offer brokerage services to their clients. To do this, Tradier created an API framework of its brokerage services that can be integrated to external platforms. The result, is that traders ultimately have a brokerage account with Tradier, but the front-end for their trading and analysis is with a separate firm.
Speaking with Craig Russell, Senior VP of Product and Chief Evangelist at Tradier, he stated to Finance Magnates that from the firm’s inception, “API first enablement, has always been the vision of the firm”. As such, their goal was to create a structure that could connect “great technology on our API”. Russell explained that connections vary between partners, with some only integrating basic brokerage services such as sending orders and account information, while other are using market data from Tradier to power sophisticated market analysis products.
One account, many platforms
For end users, one of the results of Tradier’s model, is that it avails them the ability to use multiple front ends, with one account. As such, after a customer opens a Tradier account with Scutify, and uses that social investing platform to trade stocks, they can also connect with Orca, to use their service to buy and sell options.
One potential worry though for Tradier’s partners is that the overlap of products could cannibalize activity on their platform. For example, Tradier currently connects with multiple options analysis platforms such as Option Samurai, Orca, OptionVue and Option Pit.
Answering whether there is a risk of product overlap among its partners, Russell acknowledged that there are similarities among connected platforms. However, he stated that “at the end of the day this is a benefit to clients since end-users get a variety of technology to choose from”. Russell explained that the reality is that traders will typically use multiple products to analyze and trade the market. Therefore, technology partners benefit as Tradier account holders try different systems to fit their needs. As such, Russell explained that the partnership with developers isn’t simply one where they refer customers to Tradier in exchange for brokerage services, but a “two way street”.
Onboarding partners
In terms of adding partners, Russell explained that the firm is both approached by technology providers as well as searches for platforms that they feel will be a good fit for their Brokerage API. As part of the integration, there is a vetting process where Tradier reviews potential partners to ensure it’s a good fit. Once approved, partners decide which features of the API they want to integrate, with Tradier providing several data connection solutions such as REST API.
Today’s world it is a multi-asset trading world - Craig Russell
In regards to regulatory restrictions, Russell explained that they are currently working with both US and non-US technology developers. As technology firms, Tradier’s partners aren’t required to be registered as broker dealers themselves, but are listed as software vendors.
Multi-asset future
While open to international developers, Tradier currently only accepts end-user clients from the US. However, among the firm’s futures plans is an international expansion to allow for onboarding of non-US account holders.
In addition, Russell mentioned that the firm has received interest for additional asset classes beyond just stocks and options. As such, Russell explained that “today’s world it is a multi-asset trading world”, with Tradier “actively pursuing what it would take” to add additional products such as futures and Forex trading.
Fintech Spotlight is a new column on Finance Magnates devoted to reviewing innovative financial technology companies and sector trends.
Tide Rides Adyen's Banking Wave into Germany's SME Market
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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