10 Best Forex API Trading Brokers in 2020 - BrokerNotes
A place for redditors to discuss quantitative trading, statistical methods, econometrics, programming, implementation, automated strategies, and bounce ideas off each other for constructive criticism. Feel free to submit papers/links of things you find interesting.
Interactive Brokers LLC is a U.S.-based brokerage firm. It is often best known for its trader workstation, API's, and low margins. It operates the largest electronic trading platform in the U.S. by number of daily average revenue trades. The company brokers stocks, options, futures, EFPs, futures options, forex, bonds, and funds.
http://twitter.com/forex_in_world/status/1270479354288619522Crude Oil: Oil trading higher, ahead of API’s weekly crude oil inventories data https://t.co/y4eiuKK2Qz— FOREX IN WORLD (@forex_in_world) June 9, 2020
http://twitter.com/forex_in_world/status/1267823497377509377Crude Oil: Oil trading higher, ahead of API’s weekly crude oil inventories data https://t.co/uR67PMl6bX— FOREX IN WORLD (@forex_in_world) June 2, 2020
http://twitter.com/forex_in_world/status/1265181748226396161Crude Oil: Oil trading higher, ahead of API’s weekly crude oil inventories data https://t.co/75WR8nfNAz— FOREX IN WORLD (@forex_in_world) May 26, 2020
I am trying to find a solid broker with a good R forex trading API. I came across the OANDA API but I had issues with it due to the complete lack of working R support. The github versions didnt work for me.... I had to modify/update several methods to get the history to work correctly and I am unable to get a Trade POST request working at all. Anyone have recommendations for a Forex broker with a working R API? I tried: https://github.com/IFFranciscoME/ROandaAPI
http://twitter.com/forex_in_world/status/1262615215822139392Crude Oil: Oil trading, ahead of API’s weekly crude oil inventories data https://t.co/SFxsxrU7hh— FOREX IN WORLD (@forex_in_world) May 19, 2020
Hello. I'm in the progress of choosing my broker, whereas I'd prefer a REST API but would do with any accessible API at all really, as long it is reliable, has low requirements to be used (in terms of investment etc.), covers the required methods/endpoints, has decent documentation, and lastly that I'm somehow able to connect to the API with Java. I was originally looking to start with Oanda as their API seems great and beginner-friendly with good docs, practice-mode, low minimum deposit amount etc. but got a bit shutdown knowing they had to reduce their leverage to 30:1 with ESMA. I might start out with Oanda to test out my algorithms and success, but I'd need options to go with brokers that aren't affected by ESMA and allows higher leverage, up to 200-500:1, as making good money with 30:1 requires a lot of capital. From what I've read, the best reliable options for higher leverage is IC Markets, Pepperstone and Dukascopy, atleast those are the ones I see that people recommend and do decent with ratings and leverage. Out of those, only Dukascopy has an easily accessible API (their JForex API) which I find very weird. Pepperstone and IC Markets has cTrader cAlgo support, but I do not want to commit my system to a closed-source third-party platform, especially not when I have a great open-source TA library already that is in Java ("ta4j"). These two brokers also has FIX API's, but the Pepperstone one is limited to clients with "$250m trading volume per month", and the IC Markets FIX API seem partly limited in regards to documentation and access. So my question is, do anyone have API experience and can recommend any of these three brokers for my scenario, or can recommend another reputable broker with good API & leverage possibilities? Tl;Dr which reliable and "good" brokers offer good leverage possibilities (200:1 and up), low spreads & have a good API that can be connected to with Java? Or should I just not care about the API bit and instead make MT4-calls from my Java application? Thanks in advance Edit: I'm in EU, so I have the option to use ECN brokers
Forex Trading Master: Simulator - This is a simulation of foreign currencies trading game, the data is synchronized in real-time from Bank’s Website and API provider and The game currently supports more than 30 kinds of foreign currency exchanges.
Best forex broker API for creating my own algo trade bot
I am new to trading forex. I have created my own bot and algorithms to trade cryptocurrency based on the Binance API and thought I would translate some of that to forex as well. I understand there are already platforms out there that allow you to connect to a broker and create algorithms (meta Trader for example) but I would like to create my own. For those of you familiar with algo trading and working with APIs what is the best broker to start with. Thanks all
Forex Live Demo Trading API for free? Suggestions?
Hello there! As I do poor in manual trading and do not have the time to constantly look at charts, I want to try it with algorithms. Made a small script with python that works pretty well, but I am sure my backtesting method isn't very accurate so I would like to test it in real life. Is there any broker, that gives me a more or less free demo trading account with API access? I want to get live ask/bid tik data and the programm will send long/short/close with stop loss/take profit orders. Can you recommend me a broker / website please? And how does API trading work? Do I send the orders via URL or external programms? If there is no such a thing (without having to invest 100000€ into the broker...), is there a possibility to get live forex quotes? I even thought about constantly taking screenshots of the oanda demo trading window and extracting the exchange rates... :) But I hope it doesn't need to be that complicated. Thank you!
I would like to reduce the Beta dependency for my investment. As a way of achieving it, I am think about investing in Forex, Future. But yet I have not found accessible API, whereas in Stock there are some popular options like Alpaca, TDAmeritrade, Ally etc. Can you guys share your experience in non-equity market?
Factset: How You can Invest in Hedge Funds’ Biggest Investment Tl;dr FactSet is the most undervalued widespread SaaS/IT solution stock that exists If any of you have relevant experience or are friends with people in Investment Banking/other high finance, you know that Factset is the lifeblood of their financial analysis toolkit if and when it’s not Bloomberg, which isn’t even publicly traded. Factset has been around since 1978 and it’s considered a staple like Bloomberg in many wealth management firms, and it offers some of the easiest to access and understandable financial data so many newer firms focused less on trading are switching to Factset because it has a lot of the same data Bloomberg offers for half the cost. When it comes to modern financial data, Factset outcompetes Reuters and arguably Bloomberg as well due to their API services which makes Factset much more preferable for quantitative divisions of banks/hedge funds as API integration with Python/R is the most important factor for vast data lakes of financial data, this suggests Factset will be much more prepared for programming making its way into traditional finance fields. According to Factset, their mission for data delivery is to: “Integrate the data you need with your applications, web portals, and statistical packages. Whether you need market, company, or alternative data, FactSet flexible data delivery services give you normalized data through APIs and a direct delivery of local copies of standard data feeds. Our unique symbology links and aggregates a variety of content sources to ensure consistency, transparency, and data integrity across your business. Build financial models and power customized applications with FactSet APIs in our developer portal”. Their technical focus for their data delivery system alone should make it stand out compared to Bloomberg, whose UI is far more outdated and complex on top of not being as technically developed as Factset’s. Factset is the key provider of buy-side portfolio analysis for IBs, Hedge funds, and Private Equity firms, and it’s making its way into non-quantitative hedge funds as well because quantitative portfolio management makes automation of risk management and the application of portfolio theory so much easier, and to top it off, Factset’s scenario analysis and simulation is unique in its class. Factset also is able to automate trades based on individual manager risk tolerance and ML optimization for Forex trading as well. Not only does Factset provide solutions for financial companies, they are branching out to all corporations now and providing quantitative analytics for them in the areas of “corporate development, M&A, strategy, treasury, financial planning and analysis, and investor relations workflows”. Factset will eventually in my opinion reach out to Insurance Risk Management a lot more in the future as that’s a huge industry which has yet to see much automation of risk management yet, and with the field wide open, Factset will be the first to take advantage without a shadow of a doubt. So let’s dig into the company’s financials now: Their latest 8k filing reported the following: Revenue increased 2.6%, or $9.6 million, to $374.1 million compared with $364.5 million for the same period in fiscal 2019. The increase is primarily due to higher sales of analytics, content and technology solutions (CTS) and wealth management solutions. Annual Subscription Value (ASV) plus professional services was $1.52 billion at May 31, 2020, compared with $1.45 billion at May 31, 2019. The organic growth rate, which excludes the effects of acquisitions, dispositions, and foreign currency movements, was 5.0%. The primary contributors to this growth rate were higher sales in FactSet's wealth and research workflow solutions and a price increase in the Company's international region Adjusted operating margin improved to 35.5% compared with 34.0% in the prior year period primarily as a result of reduced employee-related operating expenses due to the coronavirus pandemic. Diluted earnings per share (EPS) increased 11.0% to $2.63 compared with $2.37 for the same period in fiscal 2019. Adjusted diluted EPS rose 9.2% to $2.86 compared with $2.62 in the prior year period primarily driven by an improvement in operating results. The Company’s effective tax rate for the third quarter decreased to 15.0% compared with 18.6% a year ago, primarily due to an income tax expense in the prior year related to finalizing the Company's tax returns with no similar event for the three months ended May 31, 2020. FactSet increased its quarterly dividend by $0.05 per share or 7% to $0.77 marking the fifteenth consecutive year the Company has increased dividends, highlighting its continued commitment to returning value to shareholders. As you can see, there’s not much of a negative sign in sight here. It makes sense considering how FactSet’s FCF has never slowed down: https://preview.redd.it/frmtdk8e9hk51.png?width=276&format=png&auto=webp&s=1c0ff12539e0b2f9dbfda13d0565c5ce2b6f8f1a https://preview.redd.it/6axdb6lh9hk51.png?width=593&format=png&auto=webp&s=9af1673272a5a2d8df28f60f4707e948a00e5ff1 FactSet’s annual subscriptions and professional services have made its way to foreign and developing markets, and many of them are opting for FactSet’s cheaper services to reduce costs and still get copious amounts of data and models to work with. Here’s what FactSet had to say regarding its competitive position within the market of providing financial data in its last 10k: “Despite competing products and services, we enjoy high barriers to entry and believe it would be difficult for another vendor to quickly replicate the extensive databases we currently offer. Through our in-depth analytics and client service, we believe we can offer clients a more comprehensive solution with one of the broadest sets of functionalities, through a desktop or mobile user interface or through a standardized or bespoke data feed.” And FactSet is confident that their ML services cannot be replaced by anybody else in the industry either: “In addition, our applications, including our client support and service offerings, are entrenched in the workflow of many financial professionals given the downloading functions and portfolio analysis/screening capabilities offered. We are entrusted with significant amounts of our clients' own proprietary data, including portfolio holdings. As a result, our products have become central to our clients’ investment analysis and decision-making.” (https://last10k.com/sec-filings/fds#link_fullReport), if you read the full report and compare it to the most recent 8K, you’ll find that the real expenses this quarter were far lower than expected by the last 10k as there was a lower than expected tax rate and a 3% increase in expected operating margin from the expected figure as well. The company also reports a 90% customer retention rate over 15 years, so you know that they’re not lying when they say the clients need them for all sorts of financial data whether it’s for M&A or wealth management and Equity analysis: https://www.investopedia.com/terms/f/factset.asp https://preview.redd.it/yo71y6qj9hk51.png?width=355&format=png&auto=webp&s=a9414bdaa03c06114ca052304a26fae2773c3e45 FactSet also has remarkably good cash conversion considering it’s a subscription based company, a company structure which usually takes on too much leverage. Speaking of leverage, FDS had taken on a lot of leverage in 2015: https://preview.redd.it/oxaa1wel9hk51.png?width=443&format=png&auto=webp&s=13d60d2518980360c403364f7150392ab83d07d7 So what’s that about? Why were FactSet’s long term debts at 0 and all of a sudden why’d the spike up? Well usually for a company that’s non-cyclical and has a well-established product (like FactSet) leverage can actually be good at amplifying returns, so FDS used this to their advantage and this was able to help the share’s price during 2015. Also, as you can see debt/ebitda is beginning a rapid decline anyway. This only adds to my theory that FactSet is trying to expand into new playing fields. FactSet obviously didn’t need the leverage to cover their normal costs, because they have always had consistently growing margins and revenue so the debt financing was only for the sake of financing growth. And this debt can be considered covered and paid off, considering the net income growth of 32% between 2018 and 2019 alone and the EPS growth of 33% https://preview.redd.it/e4trju3p9hk51.png?width=387&format=png&auto=webp&s=6f6bee15f836c47e73121054ec60459f147d353e EBITDA has virtually been exponential for FactSet for a while because of the bang-for-buck for their well-known product, but now as FactSet ventures into algorithmic trading and corporate development the scope for growth is broadly expanded. https://preview.redd.it/yl7f58tr9hk51.png?width=489&format=png&auto=webp&s=68906b9ecbcf6d886393c4ff40f81bdecab9e9fd P/E has declined in the past 2 years, making it a great time to buy. https://preview.redd.it/4mqw3t4t9hk51.png?width=445&format=png&auto=webp&s=e8d719f4913883b044c4150f11b8732e14797b6d Increasing ROE despite lowering of leverage post 2016 https://preview.redd.it/lt34avzu9hk51.png?width=441&format=png&auto=webp&s=f3742ed87cd1c2ccb7a3d3ee71ae8c7007313b2b Mountains of cash have been piling up in the coffers increasing chances of increased dividends for shareholders (imo dividend is too low right now, but increasing it will tempt more investors into it), and on top of that in the last 10k a large buyback expansion program was implemented for $210m worth of shares, which shows how confident they are in the company itself. https://preview.redd.it/fliirmpx9hk51.png?width=370&format=png&auto=webp&s=1216eddeadb4f84c8f4f48692a2f962ba2f1e848 SGA expense/Gross profit has been declining despite expansion of offices I’m a bit concerned about the skin in the game leadership has in this company, since very few executives/board members have significant holdings in the company, but the CEO himself is a FactSet veteran, and knows his way around the company. On top of that, Bloomberg remains king for trading and the fixed income security market, and Reuters beats out FactSet here as well. If FactSet really wants to increase cash flow sources, the expansion into insurance and corp dev has to be successful. Summary: FactSet has a lot of growth still left in its industry which is already fast-growing in and of itself, and it only has more potential at its current valuation. Earnings September 24th should be a massive beat due to investment banking demand and growth plus Hedge fund requirements for data and portfolio management hasn’t gone anywhere and has likely increased due to more market opportunities to buy-in. Calls have shitty greeks, but if you're ballsy October 450s LOL, I'm holding shares I’d say it’s a great long term investment, and it should at least be on your watchlist.
I’ve been looking for a broker that has an API for index futures and ideally also futures options. I’m looking to use the API to build a customized view of my risk based on balances, positions, and market conditions. Searching the algotrading sub I found many API-related posts, but then when I actually read them and their comments, I found they’re often lacking in real substance. It turns out many brokers or data services that have APIs don’t actually support index futures and options via the API, and instead they focus on equities, forex, or cypto. So here’s the list of what I’ve found so far. This isn’t a review of these brokers or APIs and note that I have a specific application in mind (index futures and futures options). Perhaps you’re looking for an API for equities, or you just want data and not a broker, in which case there may be a few options. Also, I’m based in the US so I didn’t really look for brokers or platforms outside the US. If you have experience with these APIs, please chime in with your thoughts. Also, I may have missed some brokers or platforms. If I did or if you see anything that needs correction please let me know.
Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs
Wow, this list grew longer than I originally thought it would be. If you spot a mistake, please let me know and I’ll correct it. Edit: - added Lightspeed API - updated Dashprime to indicate some of the APIs available - added Medved Trader to table - added marketstack to table
I have used MetaTrader for forex in the past and Alpaca for equities, and would now like to get a little more serious. I am currently trying to choose between IBKR vs. TDA for trading equities, futures (including cryptocurrency), forex, options, and pretty much whatever I can, via API. I plan on building with Python. What matters most to me is that my orders execute reliably and quickly. Good fills, things get triggered, not eaten up by all the wtf? fees but I don't mind paying commission for quality, data feed quality, etc. If it gets a signal, I don't want to have to worry about my broker crapping on me. I do not care how hard it is to use or set up as long as I can count on it in the end. I will take the time to get it right and want to use it long-term for trading everything. I do not plan to use any UI much if at all, everything done through code. What has been your experience in using IBKR vs. TDA for your algorithmic trading?
Forex Trading System: OHLC data or Order Book data to train models?
I am trying to do some prelim research on writing a trading system for forex. Trying to understand what type of data should I train models on? The question is that trades are basically set on asks and bids, wouldn't the model be more accurate with order book data? Also looking for recommendations for Forex data platforms API along with a broker that supports API order creation.
edit to add: Thanks /joeledg for the suggestion on LightSpeed, I looked into them more deeply and have engaged with Robert Morse over on Elite Trader. They do tick off all the boxes (except the last, but that's really last on my list and not important) below. Please ignore the total misinformation (what really is the point of that??) you'll find in the responses below. https://www.lightspeed.com/automated-trading/ I ignored them before because of lack of API focus, but just found they support colo/cross connect as well as everything else on the list. So that is pretty savvy. It's possible the retail API trader is too small of a market to focus on exclusively, but that doesn't stop with providing them good service anyways. I still think there's an opportunity there with the right prioritization and engineering team, but that's a different discussion. -- Looking for a broker, ideally API Only. (Competitive with IB!) Some ideal features -
API retail traders are warmly welcomed, supported, and encouraged
Should go without saying, but dead simple, rock solid security.
US stocks/options support
pure focus on API/algotrading, very basic UI (none is fine with me), no market data support but see below regarding latency.
low commissions, obviously, but more importantly described and billed with precision and transparency
order execution transparency, flexibility. Smart routing isn't that important to me, but I do need fine grained control
order fill ratio rules with smart billing and generally well implemented throttling
detailed latency comparison against exchanges and routing performance (how fast do messages flow through your broker to exchanges). Focused support for the usual algotrading trading suspect exchanges here. Know your customers.
DC co-location / cross connect support / generally great network infra
API performance / C++ support / protocol serialization speeds. Clear, simple python facade to C++ API. Fix is nice, but not required. I want speed and control.
latency compatibility with data providers (broker doesn't need to supply market data, but needs to ideally have colocation offering which has very low latency against low cost API data providers, eg nanex or nanex like offering)
paper trading / dev account for staging new code.
great documentation is nice, but constantly updated example code is required. Best to simply have a reference implementation used for full coverage integration testing that you support. Use good tools to measure coverage. Example code be similar to average use cases. Github for that code would be wise. Think like a developer!
broad markets support is nice (futures,forex,international, OTC,bonds,etc).
API Features: Oanda API allows developers to Connect directly with OANDA to develop trading strategies and automate their trading experience. OANDA HTTP-BASED REST API is language-agnostic which makes it easy for developers to pick their preferred programming languages to integrate directly to OANDA’s legacy and v20 trading engines. What is API Trading? An application programming interface (API) is a set of definitions, protocols, and tools for building application software. In general terms, it is a set of clearly defined methods of communication between various software components. FXCM offers four FREE APIs, each connecting ... An API Broker is a professional that sets up an application programming interface account for you so that you can efficiently trade. Many times, the APIs are proprietary to the broker's agency and are set up by traders that also have software engineering skills. Since the program is built by traders for traders, you can rest assured that your trading needs will be met. API trading allows you to connect custom trading software to a broker. In this comparison, we've compared some of the top brokers (like Plus500, eToro, XTB and more) that offer APIs for trading forex, stocks, CFDs, crypto and more. API Trading Automate your trading by connecting your algo-trading strategies with our deep liquidity. Our REST API provides access to live streaming prices, trade execution, advanced order types, and access to over 80 of the world's most traded markets.
The ONLY Forex Trading Video You Will EVER Need - YouTube
This is an Video tutorial just to Show you how you can Setup Trading Platform with the Help of C# API's Please Follow the Link for Download of TWS IB and TWS... Follow me on Instagram: https://www.instagram.com/Mohsen_Hassan In this video I talk about what programming Language we like to use the most and which one we... Learn more here: https://bit.ly/2ShPRPx Here' why you'll never make money in Forex. It's all because of the Forex cycle of doom. Many aspiring traders who ar... The ONLY Forex Trading Video You Will EVER Need THIS QUICK TEST WILL HELP YOU BECOME FINANCIALLY FREE Take it HERE: https://discover.tiersoffreedom.com To jo... In this video we are going learn how about the various sources for historical FOREX data. Primarily, we will be using data from Dukascopy bank. There are man...