FXStreet has recently published our educational article on the advantages of API-enabled trading platforms in the modern day. Exploring the transformations on the trading industry over the past years, the article covers the nature of APIs, as well as the opportunities an open API grants to brokers and their traders.
cTrader’s open API in particular allows brokers and third-party developers to build tools on top of the cTrader infrastructure, allowing users to access trading history and historical price data, as well as granting them ability to execute trading on behalf of trading accounts.
cTrader is a prominent example of the successful Open API usage, already boasting an entire ecosystem of connections from trading analysis services (e.g. myfxbook) to integrations with other trading applications (e.g. Quantower and NinjaTrader), and even custom-made broker interface creations.
The API economy is expected to be the center of next major developments and an API-focused vision is key to any company looking to succeed in the trading industry in the following years.