API ( Application Programming Interface) refers to the interface or platform that enables your platform to connect with the market. APIs have multiple features that facilitate information sharing, including real-time forex price quotations, trade execution and order and trade confirmations. With Profx Market you can access a deep pool of liquidity providers across our specially-developed superfast bridge.
The FIX in FIX API stands for Financial Information Exchange. This protocol has been specifically developed for trading financial markets to transfer considerable amounts of data as quickly as possible. Currently it is mainly used by the vast majority of market participants to set up machine-to-machine communication and is in fact very standard in the forex space.
The Profx Market FIX API is based on FIX4.4 protocol. The API is used to receive a real-time data feed, submit orders, set / modify / cancel orders, and receive automated notifications of trading activities.
With a FIX API connection, users will still be able to use the standard Profx Market trading platforms with their basic functionality. However, the position calculation method (net/global position mode) applied to FIX API accounts is different. Please note that FIX API accounts only permit the net position mode to apply.
FIX API PREREQUISITES:
The minimum conditions to open an API account are as follows:
- Minimum deposit £10,000 (although this does not apply to external service providers such as third party signal providers).
- You must send us a description of your firm and trading methodology for approval by Profx Market risk and compliance and IT personnel.