FXCM Group Extends Algo Tools, Adds REST API and Python Wrapper

FXCM is adding another option for traders that are keen on Algo Trading Algo Trading Algo trading sometimes referred to as algo, may be defined as computerized trading that employs proprietary algorithms or pre-programmed commands that are tailored to take into consideration variables like price, volume, and timing. First introduced in American financial markets in the 1970s, algo-trading is generally utilized in trading scenarios such as arbitrage, trend trading strategies, and order execution while approximately 60% of all trades were executed by computers in 2010. Today, algo Algo trading sometimes referred to as algo, may be defined as computerized trading that employs proprietary algorithms or pre-programmed commands that are tailored to take into consideration variables like price, volume, and timing. First introduced in American financial markets in the 1970s, algo-trading is generally utilized in trading scenarios such as arbitrage, trend trading strategies, and order execution while approximately 60% of all trades were executed by computers in 2010. Today, algo Read this Term. 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 FIX API The Financial Information Exchange (FIX) API is a set of clearly defined rules and methods which are used to execute electronically transfers of any financial data. The protocol is widely adopted by the industry and is used by both retail and institutional traders, but mostly by the more professional-oriented side of the industry. Moreover, the protocol is supported by the FIX Trading Community which is a non-profit, industry-driven standards body. The company is regularly updating the protocol The Financial Information Exchange (FIX) API is a set of clearly defined rules and methods which are used to execute electronically transfers of any financial data. The protocol is widely adopted by the industry and is used by both retail and institutional traders, but mostly by the more professional-oriented side of the industry. Moreover, the protocol is supported by the FIX Trading Community which is a non-profit, industry-driven standards body. The company is regularly updating the protocol Read this Term, Java API, and a ForexConnect API.

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.

Clients can now easily deploy solutions using popular programming languages like Python and JavaScript. Traders can retrieve historical chart data and place trades. FXCM will also be providing real-time market data and positioning update information via WebSocket.

The REST API also utilizes OAuth 2.0 specification via token, which facilitates clients with access to a more secure integration.