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I'm searching for a reliable trading company which exposes a web service for live trade.

Basically I'm interested in:

  1. opening an account (you know, minimum everything for a start - minimum account value
    for opening, minimum commissions, etc.) and getting credentials.
  2. Through the web service, provide my credentials and connecting to the server.
  3. Through the web service executing trade operations (mainly buy/sell level 1 stocks under NASDAQ/NYSE).

Does anyone familiar with such a service and can recommend it?

Cheers

Hemulin
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  • A little more detail would help. What type of data do you need? "buy/sell level 1 stocks", it's not the stocks that are level 1 rather it's the type of data that is level 1 or level 2. Similarly, what kind of orders/executions do you need i.e. Market, Limit, Stop, Trail and any other special types? What are your latency requirements? What's your budget? There are a bunch of resources out there but I can suggest based on your preferences. – Aziz Jun 24 '13 at 17:39
  • Well, for now there isn't much to add. Market, Limit & Stop are the three types I'm looking for. Budget - small for a start (testing with up to 5000$ and probably less). I don't need quotes, just provoking a simple call. Method for example could be: "buyStock(symbol, amount, filter[])" Where filter by default is Market and can become "limit=24". – Hemulin Jun 24 '13 at 17:48

1 Answers1

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There are a bunch of online brokers that meet the criteria you shared in your comment. An example of a widely used API by retail traders is Interactive Brokers. You can also take a look at Trading Technologies which is more sophisticated in my opinion and have better support. Then there is also TD AmeriTrade. You can also use standard market protocols like FIX to write an execution connector through a FIX Engine. Many brokers support FIX, an example is Goldman Sach's electronic trading platform. Secondly, from your comment it seems like you are sort of in the testing phase. I encourage you to take a look at some retail trading platforms that are not brokers perse, but allow you to connect to multiple brokers and data feeds. Take a look at NinjaTrader, OpenQuant to name a couple.

Aziz
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  • Thank you for the quick reply. I've checked most of the mentioned above. So far I didn't find them suitable for my needs (IB require minimum 10K for an account, the others have rather not friendly API and FIX is something I try to avoid). I'm aware to the testing possibilities and already testing in several places - still there will be demo/live test with small amount of real money in the real world. Is there no one who offer the simplest link to the stock market with out any hassle on the way? Exposing simple service, WSDL and that's it, you're good to go? – Hemulin Jun 24 '13 at 18:29
  • I don't think I know about an equities broker that allows you to trade using 500$ in your account. You may be able to do it in Forex using MetaTrader platform and a leveraged account. – Aziz Jun 25 '13 at 03:18
  • 5000$ is the approximate budget, not 500$. – Hemulin Jun 25 '13 at 11:41
  • Sorry I misread that. I updated my answer, also you may find this helpful: http://www.comparebroker.com/stock-trading/no-minimum-deposits – Aziz Jun 25 '13 at 15:03