The company behind one of the most prominent forex and CFDs trading platforms in the industry, Spotware Systems, announced a new addition to the cTrader platform. The company is deploying the second generation of its Open API protocol.
The flagship product of the company, the cTradert suite has been using the cTrader Connect API v1.0 for some time. The deployment of the new Open API 2.0 is now providing developers with new functionalities.
By using Open API, third-party software developers can deliver applications built using the existing cTrader trading infrastructure. The trading community using the platform can then take advantage of the various tools offered to them.
Improvements in Open API 2.0
cTrader Open API v2.0 is not using any REST web services for account information retrieval. Instead, the second generation of the product is using Protocol Buffers. The move enables the unification of the Accounts API and the Trading API into a single technology. The change enables Open API v2.0 to serve much more resource intensive applications than v1.0.
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Consequently, request limits have also been significantly increased. This enables much faster performance for applications using the API. Application developers can now use dedicated proxies. The higher number of incoming requests in a given timeframe improve the performance of the Open API application.
The company also added an expected margin calculation, which was missing from Spotware Connect API v1.0. The applications using Open API will be able to estimate margin requirements for new orders.
Support for All cTrader Brokers
The new version of Spotware’s Open API will be available to all brokers supporting the platform. Developers who are willing to use the cTrader Open API are encouraged to submit their request via the company’s website.
The company will initially support both versions of its API, until phasing out cTrader Connect API v1.0 when it becomes deprecated. The faster performance of the apps built using the new interface is enabling a number of new applications.
The Open API 2.0 can be used to build a variety of apps including but not limited to algorithmic trading services, signal providers, trading analysis applications and copy trading tools. Brokers and other third parties can also create new applications from the ground up.