TradeStation Crypto launches FIX API to accelerate institutional adoption

TradeStation has announced access to trading crypto via a financial information exchange (FIX API) protocol for crypto traders, investors, institutions, and third parties.

The self-clearing online brokerage for trading stocks, ETFs, options, futures, and crypto, is offering its customers direct and full integration to the FIX API for accessing aggregated liquidity with intelligent order routing designed to seek the best pricing available from connected liquidity sources and fast execution.

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Full access to crypto order execution and real-time market data

James Putra, Vice President of Product Strategy at TradeStation Crypto, said: “TradeStation is proud to offer its customers advanced crypto technology through our API suite, which now includes the FIX API. The FIX API features the importance we place on giving customers alternative ways to obtain market data and execute their trades. We see this as a significant milestone for institutional adoption, opening the door for traditional market participants to access this emerging asset class for trading.”

The FIX API for TradeStation Crypto provides customers with full access to crypto order execution and real-time market data when connecting via the TradeStation Crypto FIX API.

In addition, the protocol improves customer service support for onboarding, integration, and testing, as well as ongoing product support, and provides access to TradeStation’s aggregated liquidity and intelligent order routing algorithm and the ability to transfer large amounts of data as quickly as possible.

Up to $2,500 for opening account with TradeStation Crypto

Earlier this month, the broker announced that new TradeStation Crypto customers will be awarded up to $2,500 in cash or a supported cryptocurrency after opening a TradeStation Crypto account.

TradeStation Crypto offers customers a $10 reward just for opening an account with them, but they can qualify for a higher tiered cash or crypto reward for funding their account, based on the amount of a qualifying deposit.

To qualify for the tiered reward, a new approved TradeStation Crypto customer must fund at one of the following deposit levels:

A Minimum Deposit of $5,000 will reap the reward of $200 in cash or crypto, while a customer with an amount of $10,000 gets $500. Higher figures give access to higher rewards. A minimum deposit of $100,000 will collect $1,000 USD or Crypto, and the maximum reward of $2,500 USD can only be achieved with a deposit of $1,000,000.

Going public in $1.43 billion deal

The broker has recently announced it is going public via a SPAC deal worth $1.43 billion which is expected to close in the first half of 2022. TradeStation will be listed on the New York Stock Exchange.

Monex Group Inc, the parent company of TradeStation would continue to retain the equity that it has now and it is expected that it would hold 80% of TradeStation when the deal closes.

A total investment of $115 million with $50 million each coming from the Monex Group and Galaxy Digital LP would be made. The participation of Galaxy Digital, a giant within the crypto space, might be behind TradeStation’s marketing efforts to promote its crypto offering.