FIX API – How to get one

by Oct 18, 2018Uncategorized

How easy is it to set up a FIX API? The simple answer is that the average retail broker will not be able to provide a FIX API because they lack the technology infrastructure that would allow them to do so. FIX API technology is still considered the domain of institutional market players for several main reasons and you are in luck, because BlackBull Markets offer FIX API connectivity.

Reasons why FIX API is filled with institutional market players 

Reason #1: The provision of a FIX API requires a sophisticated system “back-end” and this type of technology is not available by default, even if a Broker is already connected so some sort of aggregator. Only a limited number of enterprise-level FX Solution Providers can successfully offer, and maintain, this robust FIX API infrastructure.

Reason #2: Even if a Broker works with a technology provider that supports FIX API, support costs are adding up. The vast majority of technology providers don’t offer end-user support, however, our tech-savvy team can offer round the clock support for this service.

Reason #3: Risk. Many FIX API traders are perceived as sophisticated or knowledgeable and, therefore, the probability of their being profitable is higher and BlackBull Markets are connected to various multi-bank LPs that can cater to a lot of different strategies.

To conclude, a retail trader looking for a FIX API has probably outgrown the world of the average retail FX broker and is, instead, heading towards the more institutional space.

What does this mean for traders looking to step up to the FIX API with BlackBull Markets

Requirement #1: Get ready to deposit at least USD 10,000 to initiate a live account.

Requirement #2: Be prepared to pay a monthly minimum commission if certain volumes are not met.

Requirement #3: Be prepared to pay a $500 set up fee to cover costs

Requirement #4: A GUI (Platform/Interface to place trades) is a must-have in order to view equity and floating positions in real time as well as to allow the ability to close/open positions in an emergency situation (mistakes in your code, for example)

Requirement #5 A GUI is not offered by the majority of technology providers so be prepared to do some heavy, in-house, programming in order to gain access to your account metrics when required.

Hopefully, the above information will help you in your search for the best solution for your FIX API needs.

Trading via FIX API

If you want to get more information about how to trade via FIX API please contact our Institutional Sales team on support@blackbullmarkets.com

We look forward to hearing from you,

BlackBull Markets Support Team

Related Posts

US Dollar weakens as investors’ crave risk

US Dollar weakens as investors’ crave risk

The US Dollar index weakens for the 7th straight day as investors’ appetite for risk increases. The AUD/USD has broken the 0.69 mark, with the USD weaker against its G10 currencies, with global indices rising on forward optimism on a quicker recovery from the effects of the Coronavirus. US Indices have seemed to quickly discount the effects of the protests as they continue for the 8th straight day.

read more
Main street is enraged while wall street rises

Main street is enraged while wall street rises

A couple of weeks ago, I wrote an article about the decorrelation between Wall Street and Main street. Back then, this was related to the Coronavirus’s impact on everyone in the light of Wall Street’s impressive rally. While Main street is still reeling from the devastation the Coronavirus has brought, current protests due to another incident involving a white policeman killing a black man have sparked outrage all over the country.

read more
Will Hong Kong abandon the peg against the USD?

Will Hong Kong abandon the peg against the USD?

Will Hong Kong abandon the peg against the USD? The financial hub of Asia, which connects the East to the West has been in the middle of pissing contest between the United States and China, not to mention their domestic struggle between them and China. If protests for autonomy in Hong Kong continue, and President Trump implements drastic foreign policy measures against Hong Kong, extreme capital outflows may ensue, forcing the Hong Kong Monetary Authority to abandon its peg on the U.S. dollar.

read more

Black Bull Group Limited (trading name: BlackBull Markets) is a New Zealand registered and incorporated company (company number: 5463921). We are also registered with the Financial Services Provider Register (number: FSP403326).

Black Bull Group UK Limited is registered in United Kingdom, Company Number - 9556804. Payment clearing services provided by: BlackBull Group UK Limited (Company Number - 9556804) Address - 483 Green Lanes, London, Greater London, United Kingdom, N13 48S

Risk Warning: Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and, therefore, you should not invest money you cannot afford to lose. You should make yourself aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any questions or concerns as to how a loss would affect your lifestyle.

Copyright © 2020 Black Bull Group Limited. All Rights Reserved.

Share This