FXCM is adding another option for traders that are keen on algo trading. The company has officially unveiled its REST API toolset, adding a fourth way to deploy algorithmic trading strategies to the company’s servers.
FXCM’s Python Wrapper is easily integrated with Jupyter Notebook and fxcmpy. The package exposes all capabilities of the REST API via different Python classes. The brokerage explains that all classes allow for a convenient, Python-based way of interacting with FXCM’s REST API on a high level without needing to take care of the lower-level technical aspects.
Traders, data scientists, quants, and coders can use the fxcmpy package in their algo trading strategies.
Prior to deploying the REST API solution, FXCM has been providing its clients with FIX API, Java API, and a ForexConnect API.
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REST API is the Modern Way to Do Financial Trading
By many counts, REST API has been considered by algo developers as a superior alternative to other APIs. Where speed is crucial, the norm in the industry is REST and the addition of the option is opening the doors for FXCM to deliver its services to a wider spectrum of algo-trading enthusiasts.
The suite of API offerings of FXCM is now also complemented with the addition of a Python Wrapper. All of the four APIs which the company is offering are free to use and directly connect to FXCM’s trading server.
The REST API also utilizes OAuth 2.0 specification via token, which facilitates clients with access to a more secure integration.