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What are APIs in relation to trading platforms and how can they be used?

» Trading Platforms and Tools
  • APIs, or Application Programming Interfaces, allow traders to connect their trading algorithms directly to the platform's market data and trading systems.
  • They enable automated trading by sending commands to the platform to execute trades, manage orders, and monitor real-time financial market data.
  • Traders use APIs to integrate third-party analytical tools, create custom trading applications, or even to connect with other financial services for enhanced trading strategies.

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What are APIs in relation to trading platforms and how can they be used?

Just stumbled upon the term API while checking out trading platforms. Broke my head a bit on what this is all about. Can anyone clear up what APIs are in relation to these trading platforms? Also, I'm kinda curious about how they're actually used in this scene. Who's gonna feed my curiosity? Cheers!

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