SimpleFX (SFX), a cryptocurrency and forex CFD broker, announced the application programming interface (API) of its BETA webtrader platform which will be available in mid-August 2018. The move comes shortly after the platform launched its iOS application, mobile web browser platform, and a brand new affiliation software.
SimpleFX is on track to deliver user-friendly cryptocurrency trading available to both experienced veterans and beginner enthusiasts. Adding to its already impressive suite of trading tools, the company is introducing API trading to its webtrader platform.
The interface will enhance the user experience and will allow traders to effectively manage positions. Through it, users will be able to easily read prices, trades, accounts, and instruments, as well as to quickly open and close trades and update them accordingly.
Furthermore, the API will also help to minimize latency, thus maximizing trading accuracy. This is an important step towards meeting the high expectations of institutional clients as well as advanced forex and cryptocurrency traders. They tend to use this communication protocol on a day-to-day basis, making it of critical importance.
The company also said that it will be releasing sample codes, case studies, and additional documentation ahead of the mid-August launch.
Aside from the above, the new API will also allow for advanced trade opening. Catering to those users who trade a number of positions at once, the API allows the opening of multiple trades on multiple instruments at the same time with the click of a button.
Apart from improving user experience, this also adds more sophisticated entry conditions. As such, orders can be activated after a pre-set time period, preliminary specified price change, and others of the kind. There are numerous options that the interface allows traders to take advantage of.
Improved Analytics and Risk Management
Analytics are critical to successful trading, regardless of whether it is cryptocurrencies or forex. However, a lot of traders aren’t so keen on flat, built-in indicators and need more intricate ways to analyze the market.
The new API offers the ability to create custom indicators which are tailored to your particular preferences and trades. This improves the overall accuracy as well as trading experience. Additionally, the interface allows users to preview the risk of each existing and new trade.
Understanding the fast-paced environment of global financial markets, SimpleFX’s new API monitors them and alerts you immediately if something important takes place.
In the words of the company itself:
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.
SimpleFX continues to provide an array of investment tools for both forex and cryptocurrency traders, so stay tuned by visiting the official website for more information!
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Images courtesy of Shutterstock, SimpleFX