Technology-led FX and CFD firm OANDA Corporation has made significant enhancements to its Application Programming Interface (API) suite for retail forex traders, developers, and partners.
New 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.
Since the launch of the OANDA REST API in June, hundreds of traders have opened fxTrade accounts that led to a 40 percent increase of API-specific trading volume. Additionally, one third of these users are trading more than 50 percent of their overall trading activity via the OANDA API. Via OANDA’s partner program, trading volume through these new, custom API integrations had quadrupled month-over-month to-date.
“2014 was a landmark year for the OANDA API. Our clients are pleased and have given us important feedback, including individual traders adding their own wrappers and code to GitHub. It’s our clients and partners that are building this thriving community,” said Barbara Bermes, Product Manager, OANDA API, OANDA Corporation.
“Working with industry-leading partners, we’ve also made available integrations with Autochartist, MotiveWave, MultiCharts, Cloud9Trader and MT4. All of this work catapults our API offering ahead of the competition; we couldn’t be more pleased with the results to date. With enthusiastic clients and partners, we will continue to grow our APIs and the API suite at a strong pace” concluded Ms Bermes.
OANDA’s updated Developer portal includes improved segmentation of support for each, REST API, Java-based SDK, FIX, and MT4, as well each testing environment (for fxTrade, fxTrade Practice or a risk-free sandbox, for REST only), and targeted documentation. For first-time developers, the portal also features a wizard to help identify which API is most suitable to use, and a comparison table listing all features of each 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, Product Management, OANDA Corporation. “With the consecutive additions to our API suite, we’re customizing the offering to enable professional traders the tools to leverage pre-existing indicators or to easily develop their own algorithms. We’re also proud to be a global leader in introducing developers to the most liquid financial market in the world, widening the breadth of our partner program, and providing best-in-class APIs to all investors.”
Looking forward, the OANDA API team is focused on further MT4 customization in 2015, as well as additional partner integrations, enabling the broker’s promise to continue delivering charting and professional trading tools to its customers.