Forex and CFD technology solutions provider Spotware Systems has announced its most recent update for its cTrader platform, trading with hedging accounts via FIX API.
The scope of cTrader’s FIX API now includes application messages for Request for Positions and Position Report to allow traders to manage open positions through FIX API.
In August 2016 cTrader broke ground by becoming the first retail focused platform to provide a FIX API to all users without any minimum requirements or commitments from traders, thus making the popular communication technology open to anyone regardless of whether they have a live or demo cTrader account.
James Glyde, CCO of Spotware Systems explained:
We are pleased to be able to deliver another key differentiator between cTrader and other platforms as we continue to increase the value we give to traders and provide honest and useful conversion and retention tools for our broker-clients.
FIX API is typically used for netting purposes due to the institutional origin and popular application of the API. This limitation continues to exist despite the growing sophistication of retail traders and their demand to have access to institutional grade technology yet continue trading with the familiar hedging account type which their strategies are based upon.
Spotware have also provided code for a sample application written in c# to highlight how to send and receive FIX messages to and from cTrader. This sample can be found in their GitHub repository. A complete guide of how to work with the code sample can be found in their help site.
Making cTrader FIX API compatible with hedging accounts has removed the complication of many retail focused brokers not offering the netting account type to their clients despite the possibility in cTrader. Spotware confirm that FIX API with hedging account is now available from any broker offering cTrader.
Spotware Systems is a neutral financial technology provider offering comprehensive eFX & CFD STP solutions for brokers, banks and their clients. Spotware are best known for their flagship NDD and STP cTrader suite which is used by a number of the brokers in the industry.