Compare Brokers For API Trading

Looking for brokers for api trading? We have compared 16 broker accounts (out of 147) that are suitable for you below.

We found 16 broker accounts (out of 147) that are suitable for API Trading.

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ThinkMarkets

Spreads From

EURUSD 0.1 points See all spreads

What can you trade?

  • Forex
  • Cryptocurrencies
  • Indices
  • Commodities
  • Stocks
  • ETFs

About ThinkMarkets

  • Regulated by: Financial Conduct Authority and ASIC.
  • Established in 2010 HQ in Australia.

Platforms

  • MT4
  • MT5
  • Web Trader
  • Mobile App

Funding Methods

  • Credit cards
  • PayPal
  • Bank transfer

Open a demo account

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Losses can exceed deposits

Read our in-depth ThinkMarkets review

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

The Ultimate Guide to

How do Forex Trading APIs Work?

What are APIs?

An Application Programming Interface (API) is used to enable software applications, operating systems and servers to connect with each other in order to share assets. The programs communicate using a set of common protocols, with a request sent from one application to access the data or features of the connected application, and the API allows or denies the request on the basis of a predefined set of rules.

What are Trading APIs?

In Forex, CFD and other financial instruments trading, APIs allow a user’s front-end system to be connected to the broker’s back-end system via an encrypted communication channel. This means that traders are not committed to using an application or platform supplied by the broker but can use their own custom platform or app instead. They can conduct trade orders, trade execution, trade settlement, and trade verification, as well as view live prices and access historical market data through their own user interface.

Who can use APIs for Trading?

APIs are particularly useful for institutions and brokers with their own, proprietary trading software. However, they can also be used by private traders and app developers, or anyone with sufficient programming knowledge to set up and maintain the connection.

Benefits of Trading APIs

APIs allow users to create custom front-end trading solutions that can utilise the functionality and data from established suppliers. This includes:

  • Live market data and executable prices.
  • Historical market data and prices, allowing API users to analyse markets and chart client sentiment.
  • Risk management tools and features, such as stop loss and take profit limits.
  • Current and historical trading data, so the user can maintain their account through their own user interface.
  • Immediate execution and instant confirmation, so orders can be carried out through their own trading platform.

Furthermore, trades can be carried out anonymously, rather than being recorded on the broker’s platform, and as a back-end does not need to be developed by the user, this may save on costs.

What are the Drawbacks of Using APIs for Trading?

API trading is not suitable for everyone. Here are a few reasons why some traders may prefer to use the platforms offered by brokers, rather than attempt to create their own custom solutions:

  • API trading requires development time and ongoing maintenance, which can be costly.
  • Generally, h2 programming knowledge and skills are required. The extent of this will depend on the broker selected by the client.
  • Connecting an API can open the door for hackers to attack the application, so the security of the site may be hampered. Using APIs from trusted and authorised brokers should help to mitigate this risk.

Which Online Brokers Offer APIs

The vast majority of major trading services providers offer API trading solutions, however, the features and degree of support on offer vary between brokers. Here are a few examples:

AvaTrade
AvaTrade is a broker regulated by the Central Bank of Ireland to provide Forex, CFDs and other financial instruments and related services. They offer APIs that allow traders to link their custom trading solutions to the AvaTrader servers for secure and instant trade execution using real time transparent pricing data. The AvaTrader API also allows clients access to historical market data. The API libraries are supplied as .NET or Java files, so a good grasp of either of the programming languages is required to get them set up; no technical support is provided. There is no fee to use the AvaTrader APIs, however the client will be required to set up an account and maintain a balance of at least £1000. The APIs can also be used to connect automatic trading solutions to the AvaTrade platform. These can be tested on the demo platform using live market information.

IG
The IG Group is one of the world’s largest, by revenue, retail CFD providers and are authorised and regulated by the Financial Conduct Authority. In addition to offering their own web platform and trading apps, they also provide automated trading solutions via their APIs. The APIs provide access to historical and live market data and prices, and can be used to execute trades using IG’s pricing and execution technology. The IG API also enables users to get real time trade notifications and account status notifications, and allows them access to risk management tools, watch lists and other functionality.

Its API has been designed for various types of organisations such as brokers, financial institutions, individual traders and app developers. IG offer a REST (Representational State Transfer) API – a standard way to get access to the resource over the web. The Web API comes with technical support, including online documentation and developer tools, offering assistance to those that require it. The programming languages supported include Excel (VBA), Java and .Net. For institutional clients with professional programming resource, the FIX API allows OTC trading via a live price feed, direct trading into global stock exchange order books and much more.

FXCM
FXCM Ltd. are authorised and regulated by the Financial Conduct Authority, with permission to provide trading services and products. They offer a variety of APIs, including the Marketscope Indicore which is for traders who use algorithms as part of their trading strategy. They also have the FXCM Forexconnect API, which uses .Net, Mac, iOS, Linux or Android programming languages, and allows users to run price data analyses. A Java API enables clients to connect their own applications and the FIX API is for institutional clients, offering an interface which can be customised to meet the needs of the client. API specialists are also available at FXCM to provide a walk-through demonstration of the options.

Conclusion

APIs offer a connection between applications, data and resources, allowing them to be transmitted from one system to another. They are a powerful tool for developers wishing to create their own bespoke applications that are based on the market data and features provided by brokers. Whether a client is connecting an algorithm for automated trading, their own platform, or their own app, APIs provide all the tools to securely link to the data suppliers. Institutional clients can benefit from dedicated API solutions, whereas clients with less advanced programming skills can select brokers who offer additional support along with their APIs.

However, please bear in mind that the functionality and data provided through APIs, and the amount of technical support available, varies from broker to broker.

Why Choose ThinkMarkets
For API Trading?

ThinkMarkets scored best in our review of the top brokers for api trading, which takes into account 120+ factors across eight categories. Here are some areas where ThinkMarkets scored highly in:

  • 8+ years in business
  • Offers 50+ instruments
  • A range of platform inc. MT4, Mac, Web Trader, Tablet & Mobile apps
  • 24/7 customer service
  • Tight spreads from 0.10pips
  • Used by 0+ traders.
  • Offers demo account
  • 2 languages

ThinkMarkets offers two ways to tradeForex, CFDs. If you wanted to trade EURUSD

The two most important categories in our rating system are the cost of trading and the broker’s trust score. To calculate a broker’s trust score, we take into account a range of factors, including their regulation history, years in business, liquidity provider etc.

ThinkMarkets have a B trust score, which is good. This is largely down to them being regulated by Financial Conduct Authority and ASIC, segregating client funds, being segregating client funds, being established for over 8

Trust Score comparison

ThinkMarkets
Trust Score B
Established in 2010
Regulated by Financial Conduct Authority and ASIC
Uses tier 1 banks
Company Type Private
Segregates client funds

A Comparison of ThinkMarkets


Want to see how ThinkMarkets? We’ve compared their spreads, features, and key information below.



Spread & fee comparsion

The spreads below are illustrative. For more accurate pricing information, click on the names of the brokers at the top of the table to open their websites in a new tab.
ThinkMarkets
Fixed Spreads
Variable Spreads
EUR/USD Spread 0.10
GBP/USD Spread 1.2
USD/CAD Spread 0.9
USD/JPY Spread 0.10
DAX Spread
FTSE 100 Spread N/A
S&P500 Spread

Comparison of account & trading features

ThinkMarkets
Platform MT4, Mac, Web Trader, Tablet & Mobile apps
Services Forex, CFDs
Base currency options USD, GBP, EUR, CHF, JPY, SGD, AUD, CAD, NZD, CNH
Funding options Payoneer, Credit cards, Bank transfer, Neteller, BPAY, UnionPay, FasaPay, DebitCard,
Micro account
ECN account

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.