Spotware System, developer of cTrader, has successfully integrated FIX (ECN protocol) into their retail trading platform. Currently, cTrader is the only retail level-trading terminal with access to institutional class FIX network.
This has been a major milestone as Spotware System is commited to deliver institutional grade services to retail brokerages and traders.
What Is FIX And What It Offers?
FIX (Financial Information Exchange) is an electronic communication protocol between clients, traders, investment funds or broker to liquidity providers. Latency and accuracy of each transmission and price execution is directly affected by that communication protocol at technical level.
FIX is an open-source, non-proprietary modules where neutrality and transparency is its main advantage. Numerous financial institutions are collaborating in a community to update and promote distribution of FIX to meet current trading standard.
On another side of the coin, FIX API (application programming interface) is a technical procedures for service provider (platform developer or broker) to adopt FIX into their trading platform system.
Spotware System Head of Business Development, James Hyde, said, "From the very beginning our aim has been to deliver an institutional environment to retail traders, this has been achieved through a variety of key areas and this is a major contribution to the industry leading service which our broker-clients can deliver to their traders."
Furthermore, he added, "We have opened up this feature to any trader, regardless of their deposit size. This is another feature which will be available out of the box to benefit everyone"
FIX is integrated to cTrader by default, which means brokers may distribute it to their client/retail traders without any extra cost or restriction to regular trading conditions. If you want to give it a try, it's already available for live trading with of these brokers with cTrader platform; Pepperstone and OctaFX.