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FIX / API: A Protocol for Sophisticated Traders

FIX API is an industry term that sophisticated traders know well, but others have very little understanding of. I can’t tell you how many times customers approach me asking for a FIX API, yet have no clue what it is or what to do with it. They just think they need it because that’s how the “big guys” trade. For those people who are a little confused about this topic, I wanted to take a few minutes to briefly explain what a FIX API is and who it really benefits.

What is a FIX API?

FIX (Financial Information Exchange) API (application programming interface)

FIX stands for “Financial Information Exchange” and API stands for “Application Programming Interface”.

The FIX protocol system allows the transfer of electronic information between the trader and liquidity provider, allowing for quick and accurate execution. FIX protocol is the standard language not just for FX market, but all financial products including equities and options.

It is essentially how the whole financial system communicates, transferring data, trades, etc from one place to another.

In FX, a FIX API has two “streams”. The first is a data stream sending prices from the broker to the client. The second is the trade stream which processes the trade orders from the client to the broker.

Who needs a FIX API?

  • A high frequency trader with automated trading strategies that would otherwise be limited on traditional trading platforms.
  • Retail forex brokers needing access to pricing and liquidity.
  • Customers who do not want to use a broker’s available trading platforms. They have the ability to build their own customized systems, yet still be able to access the firm’s liquidity pool.
  • Clients who want to maintain a level of anonymity with their counter-parties.

How do I get a FIX API?

If you find yourself in one of the above categories, the first step is to locate a broker that can provide you with the best trading environment to meet your needs. Then you must find out if FIX API trading is available. Not all brokers are able to provide this service, and if they do, many have different requirements to gain access.

Tradeview offers a unique product. We have partnered with the top technology providers in the industry to develop a FIX API solution that connects directly to an MT4 account. Clients can connect to our deep liquidity pool via FIX API, but still be able to monitor the account’s positions through the familiar MetaTrader 4 platform. This is the best of both worlds. Having the ability to create your own black box system or offset trade flow with the API, but also be able to utilize the most popular retail trading platform in FX.