FIX API is widely used by institutional traders to automate multiple processes and improve trading performance by being able to receive data and submit orders in minimal time. For individual traders it brings a totally new investment opportunity.
The main benefits of using FIX API for individual traders are:
Lower execution time. FIX API focuses on transmitting large amounts of financial data within shortest time period. Each operator (such as Spotware) have very strict rules of engagement, which streamline the data interpretation on both sides, making FIX messages short and to the point.
Multi-channeling. Traders now have the possibility to connect to multiple brokers simultaneously using one custom application or interface to extend their trading opportunities as they see fit.
Flexibility. Traders can develop algorithms using any programming language or other desired tools to provide themselves with a bespoke solution. Those tools can be connected to the markets via their broker using cTrader FIX API.
Privacy. Traders can run algorithms directly on their computer without running it on a commercial platform, thereby not disclosing any part of it.