Global forex and contracts for difference (CFD) trading services broker OANDA has enhanced its application programming interface (API) suite for retail forex traders, developers, and partners.
Additions include the re-launch of the OANDA API developer portal with added reference implementation, including a fully functional sample trading app, additional code samples, new APIs for the broker’s proprietary fxLabs tools, an OANDA-MetaTrader 4 (MT4) API, and several new partner integrations.
The company said that since last June’s launch of the OANDA REST API, hundreds of traders have opened fxTrade accounts that led to a 40% increase of API-specific trading volume. Additionally, one third of these users are trading more than 50% of their overall trading activity via the OANDA API.
“As a technology-led forex business, OANDA prides itself on cresting the apex where client demand, industry trends, creativity and innovation all converge,” said Trevor Young, vice president (VP), product management, OANDA Corporation.
“With the consecutive additions to our API suite, we’re customising the offering to enable professional traders the tools to leverage pre-existing indicators or to easily develop their own algorithms.”
However, a London summit on the industry’s introduction of the technology cautions that testing and acceptance are still at an early stage and firms should proceed with caution.
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