SimpleFX, a Forex and cryptocurrency CFD broker, delivers a robust online trading platform that emphasizes ease of use. Today, the company announces the addition of an API (application programming interface) to its beta web trader platform.
It’s easy to create an API key on the platform. It will appear as a new option on the web trader menu and is expected to launch mid-September 2018. After choosing the API on the menu, users will determine trade permissions and the IP address.
The API allows users to effectively manage positions including closing and opening trades, reading accounts, instruments, prices, and updating trades. With API trading, latency is minimized while the trading experience is enhanced. SimpleFX developed this functionality to meet the needs of institutional clients as well as Forex and cryptocurrency traders who use this communication protocol daily.
Ahead of the mid-September launch, SimpleFX will be releasing sample codes, case studies, and additional documentation. With the API, there is an advanced trade opening. With one click, users can open multiple trades on various instruments all at the same time and in real-time. This also enables more sophisticated entry conditions. Orders can be automatically activated based on a set time period, specified price change, or other parameters. The API permits more options than what is currently available.
The API also makes it possible to create custom indicators for those users who prefer this to built-in indicators. Now, users have the tools needed to analyze markets in a more detailed manner.
Risk management is another important part of trading. With the API, a user can preview the risk of new and existing trades. A user’s concerns related to risk are addressed in the API as well.
Then, there is the speed in which global financial markets change. It can be very hard to keep up with multiple instruments. Rather, users can help manage their time and efforts better with the API, which can monitor markets and send alerts to users when something worthwhile occurs.
SimpleFX stated:
The API is a critical tool for users on the web trader platform. They’ll see increased functionality that will help with efficiency and accuracy. With a variety of benefits, our users are sure to be pleased with this latest upgrade.
The SimpleFX API live announcement is forthcoming. Stay tuned by visiting the site simplefx.com.
Images courtesy of SimpleFX