Leading US forex brokerage FXCM (NASDAQ:FXCM) announced on Monday it has launched Live Trading Integration with algorithmic trading platform QuantConnect, which is cloud-based. At present, only the broker’s US clients are able to use this service.
Integrating with a QuantConnect allows FXCM to expand its offering and the scope of platform options for algorithmic traders. In fact, QuantConnect is a platform for strategy creation, backtesting and deployment that was designed by algo traders for algo traders. It is built on an open-source, desktop-cloud hybrid trading platform designed in C#. Moreover, it is data-agnostic, and therefore capable of trading all FXCM forex products.
QuantConnect users, on the other hand, can access FXCM’s historical tick, second and 1 min price history dating back to 2007, as well as search thousands of solutions, clone algorithms with one click, and get advice from experienced quants. As a result of the partnership, algo traders can run their strategies with no restrictions and benefit from anonymous order execution.
Commenting on the integration, Ornit Niv, FXCM US CEO, said: “FXCM is excited to work with such an innovative technology company like QuantConnect. FXCM sees tremendous value for algo traders in their open source model that offers outstanding flexibility and power for strategy creation and backtesting.”
FXCM is not the first major forex broker to launch live trading integration with QuantConnect - Interactive Brokers and Oanda have already integrated with the revolutionary platform that combines cloud computing and open data access.
FXCM (NASDAQ:FXCM) offers forex, CFDs, and spread betting services and is one of the few brokers who still operate in the US. It is a registered Futures Commission Merchant (FCM) and Retail Foreign Exchange Dealer (RFED) with the US Commodity Futures Trading Commission (CFTC). The group also has units registered and regulated with the relevant authorities in the US, the UK, Australia, and France.
It is 50.1% majority owned by FXCM Inc., while rest of the group moved to the hands of Leucadia National Corporation earlier in 2016.