OANDA, a foreign exchange trading services provider, announced major enhancements to the OANDA API Suite it launched last summer. The enhancements include added features, the relaunch of a developer portal and new APIs for its fxLabs tools. Since the API suite launch, OANDA says it has seen hundreds of new traders open accounts, and a massive increase in API-specific trading continues on a month-to-month basis.
"As a technology-led forex business, OANDA prides itself on cresting the apex where client demand, industry trends, creativity and innovation all converge," Trevor Young, OANDA's vice president of product management, said in a press release. "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."
The developer portal includes segmented support of APIs, SDKs, FIX and MT4 (MetaTrader 4). MT4 constitutes a Windows-based electronic trading platform that includes automated trading capacity. Moving through 2015, the OANDA team will concentrate on MT4 customization as well as additional partner integrations and innovative tools for brokers and customers.
The RESTful API was built on top of OANDA's currency trading platform, fxTrade. Functionality includes access to market data and automated trading. OANDA provides sample code and a development guide to complement the new offering. To learn more, visit the developer site. Those looking to get their feet wet can sign up for a free demo account or open a live account.
Massive currency fluctuations have certainly thrust forex into the headlines recently. At the same time, OANDA has experienced a phenomenon consistent across many industries in today's world: APIs attract the developer community, which continues to prove an invaluable marketing tool to attract new customers and partners. Expect more development from OANDA over the course of 2015.