Exclusive Interview with Spotware Community Manager on the Launch of cTrader Open API 2.0

Spotware, an award-winning financial technology provider, has announced recently the release of cTrader Open API 2.0, the new Open API of its flagship Forex and CFD trading platform. We have met today with Panagiotis Charalampous, Head of Community Management at Spotware, to speak about this launch.
FX Empire Editorial Board
Spotware Community Manager

Panagiotis, what is cTrader Open API and why do we need it?

“cTrader Open API is a client-side programming interface that allows third-party applications to be created using the existing cTrader trading infrastructure. The new applications leverage the potential of traders trading with cTrader by providing them with a new ecosystem of tools and features that complement the cTrader environment. Thus, cTrader Open API provides added value to cTrader users, while developers get a ready-to-use trading environment.”

Who is using cTrader Open API and why?

“Open API has a broad spectrum of users. They can be individual traders with their private algorithmic trading programs,  third-party technology providers or development companies building trading and charting platforms. By using cTrader Open API, such companies can offer their applications to the large pool of cTrader traders through a free, secure, and publicly accessible API. Some brokers also use cTrader Open API, as it allows them to develop their own trading interfaces for a more customized trading experience adjusted to the needs of their clients.”

What kind of applications can be developed using cTrader Open API?

“The possibilities are endless. We have seen various applications of Open API usage ranging from algorithmic trading services running HFT algorithms, signal providers allowing immediate execution of signals, trading analysis applications, and copy trading tools to complete trading applications offered as alternatives to the traditional cTrader experience. All of them provide new capabilities to cTrader traders extending their possibilities.”

What new features does Open API 2.0 bring to the table?

“With the Open API 2.0, our aim was to bring it on par with the rest of the applications of cTrader Suite in terms of technology. The most important change was that the new Open API 2.0 is now based entirely on Protocol Buffers, a protocol designed for performance critical applications and used by our internal APIs as well. This is in contrast to v1.0, which was partially based on REST requests and was subject to the performance overhead of this technology. Moreover, more messages have been added to allow third-party applications to offer a complete trading experience to their users. In simple words, the new Open API 2.0 enables faster performance of apps and provides them with more functionality.”

How traders can get access to Open API apps?

“Traders can access apps developed using Open API if their broker supports cTrader Open API. By default, it is available to all brokers offering cTrader platform, as Open API is a technology that ships with all cTrader installations. However, brokers have an option to disable the Open API trading for some or for all of their clients. Therefore, I would advise traders who want to use Open API apps to consult with their broker beforehand.”

How can someone start using the Open API to develop their own apps?

“This is very simple. All that the users need to do is to sign up or log into Open API site at https://connect.spotware.com and apply for an Open API application. We will process the request by next business day. After that, the users can take their application credentials and start using Open API. Our dedicated Open API Site features detailed documentation of the API, as well as code examples that allow any developer to start right away.”

Create cTrader Open API application: https://connect.spotware.com

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