Should forex FX brokers like Oanda and Dukascopy fully support Java DotNet C++ no different than Interactive Brokers or LMAX?
So I was at a standard Toronto local Meetup group based around Forex. Kind of cool especially in the offices of local forex broker Oanda. As usual, people ask about their tech support among 30+ visitors. It sounds like 25-30% are interested in automated as it is growing.
The tour and free beer was all nice which was great.
Question is: Why don’t brokers support this for forex? People don’t want to stick with limiting trading platform like Metatrader. I would think it is pretty standard to support these other technologies.
Oanda also dropped their massive $600/month fee to have access to their API. But they will give you access to some Java JAR file or REST access. Come on, with desktop software like TWS or Think or Swim, that is the standard I personally expect. It is quite clear whoever is making these tech decision is smoking weird dope or doesn’t clearly understand where the global market is going in
I want to hear comments!!
The argument was they only want to focus on small retail traders with < $5000. Ok fine, but if the market clearly supports expanded tech APIs, shouldn’t they?
When the markets turn like 2008, all the retail traders will get blown out and scared off. Who most likely will be standing? Advanced automated traders so think hard and wide before joining a broker that just supports good old Metatrader or some Java JAR file with security vulnerabilities.
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