Metaapi.cloud Features: An Examination of its Technical Offerings and Their Implications

Metaapi.cloud boasts an array of features designed to cater to developers and businesses looking to automate or enhance their MetaTrader-based operations.

Read more about metaapi.cloud:
Metaapi.cloud Review & First Look: A Deep Dive into its Forex API Offerings

These features cover everything from basic account data access to complex trade copying and risk management.

While the technical capabilities are clear, understanding the direct application of these features is crucial when assessing their ethical implications, particularly concerning the financial domain they operate within.

The platform emphasizes how these features can accelerate application development within the forex market.

Access Terminal Data

This feature allows applications to read critical information directly from a MetaTrader terminal.

• Reading Balance: Users can retrieve current account balance, equity, and free margin, providing real-time financial snapshots.
  • Data Points: Includes balance, equity, free margin, and leverage.
  • Purpose: Essential for any trading application to monitor account health and manage risk.
  • Real-world Use: A dashboard for a trader to see their consolidated financial position across multiple MT accounts.
• Positions: Access to open positions, including symbol, volume, open price, and current profit/loss.
  • Details: Symbol, type (buy/sell), volume, opening time, current price, stop loss, take profit, profit/loss.
  • Application: Crucial for managing active trades and implementing automated exit strategies.
  • Example: An automated system that adjusts stop-loss levels based on market conditions.
• Pending Orders: Information on pending buy limit, sell limit, buy stop, and sell stop orders.
  • Order Types: Supports all standard pending order types found in MetaTrader.
  • Benefit: Enables sophisticated order management strategies, such as OCO (One Cancels Other) orders.
  • Statistics: According to a 2022 survey by Finance Magnates, algorithmic trading accounts for over 70% of forex trading volume, highlighting the demand for programmatic access to order books.
• Account Information: General account details such as account number, broker, and server.
  • Metadata: Provides identification for specific trading accounts.
  • Integration: Useful for multi-account management systems or reporting tools.
  • Compliance: Can be used to ensure specific accounts are tied to compliance requirements.
• Symbol Specifications: Retrieval of contract specifications for various trading instruments.
  • Details: Lot sizes, margin requirements, spread, execution type.
  • Pre-Trade Analysis: Important for calculating potential profits/losses and margin requirements before placing a trade.
  • List of Specs:
    • Minimum/maximum volume
    • Step volume
    • Margin requirements
    • Spread
    • Tick value
    • Swap rates (problematic in Islam)

Access Trade History

The API provides methods to retrieve a comprehensive history of orders and deals executed on the MetaTrader terminal.

• History Orders: Details of all past orders, including opening and closing times, prices, and outcomes.
  • Traceability: Offers a full audit trail of all trading activity.
  • Performance Analysis: Vital for backtesting strategies and analyzing past trading performance.
  • Data Volume: A typical active retail trader can generate hundreds of history orders per day, necessitating efficient retrieval.
• Deal History: Specific records of executed trades or “deals” resulting from orders.
  • Execution Data: Provides exact execution prices and volumes for each filled trade.
  • Granularity: More granular than order history, focusing on the actual transaction.
  • Financial Reporting: Essential for precise profit/loss calculations and tax reporting.
• Filtering Capabilities: Allows filtering history by date range, symbol, or order type.
  • Efficiency: Prevents retrieval of unnecessary data, optimizing API calls.
  • Custom Reporting: Enables users to generate specific reports based on desired criteria.
  • Query Options:
    • startDate
    • endDate
    • symbol
    • orderType

Trade Execution

Metaapi.cloud allows applications to execute trades directly with low latency.

• Low Latency Execution: Critical for high-frequency trading and ensuring orders are filled at desired prices.
  • Performance Metric: Latency measured in milliseconds (Metaapi.cloud claims “about 1 millisecond” for copy trading).
  • Impact: Reduces slippage and improves profitability in fast-moving markets.
  • Benchmarking: Industry benchmarks for institutional trading systems often aim for sub-millisecond execution.
• Market Orders: Placing immediate buy or sell orders at the current market price.
  • Simplicity: The most straightforward order type for quick entry or exit.
  • Guaranteed Execution: Ensures the trade is filled, though price may vary slightly.
  • Use Cases: For rapid reaction to news events or sudden market shifts.
• Pending Orders: Setting up buy limit, sell limit, buy stop, or sell stop orders to be executed when a specific price is reached.
  • Strategic Entry/Exit: Allows traders to pre-plan entries and exits without constant monitoring.
  • Risk Management: Integral for setting stop-loss and take-profit levels.
  • Advanced Strategies: Supports more complex algorithmic strategies that trigger based on price levels.
• Modification of Orders/Positions: Adjusting stop-loss, take-profit, or pending order parameters.
  • Flexibility: Adapting strategies to changing market conditions.
  • Dynamic Risk Management: Allows for trailing stop-losses or profit targets.
  • API Calls: Specific endpoints for modifying existing trades or orders.
• Closing Positions: Programmatically closing open trades.
  • Automation: Enables automated exit strategies based on predefined conditions.
  • Portfolio Management: Used to rebalance portfolios or realize profits/losses.
  • Full or Partial Closure: Supports closing entire positions or only a portion of them.

Access Market Data

The API provides comprehensive market data for analysis and real-time decision-making.

• Historical Market Data: Retrieval of past price data for various timeframes (e.g., 1-minute, 1-hour, daily).
  • Backtesting: Essential for developing and validating trading strategies against historical performance.
  • Charting: Used to build custom charts and visual representations of price action.
  • Data Formats: Available in common formats like OHLCV (Open, High, Low, Close, Volume).
• Real-time Prices Data: Live streaming of quotes (bid/ask) for selected symbols.
  • Live Trading Decisions: Critical for real-time strategy execution and monitoring.
  • Latency: The faster the data, the better the decision-making in volatile markets.
  • WebSockets: Typically delivered via WebSockets for continuous updates.
• ECN Level-2 Market Depth Data: Provides insight into the supply and demand at different price levels.
  • Market Insight: Shows the liquidity available at various bid and ask prices.
  • Advanced Analysis: Used by professional traders to identify potential support/resistance levels and market sentiment.
  • Depth of Book: Includes quantities of buy/sell orders at each price level.
• Tick Data: The most granular form of market data, representing every single price change.
  • High-Frequency Strategies: Indispensable for strategies that depend on micro-price movements.
  • Precision: Offers the highest level of detail for post-trade analysis.
  • Storage Requirements: Generates very large datasets, requiring significant storage.
• Data Aggregation: The ability to consolidate data from multiple brokers or sources.
  • Consolidated View: Provides a more complete picture of market liquidity and pricing.
  • Arbitrage Opportunities: Can be used to identify small price discrepancies between brokers.
  • Reliability: Increases data reliability by cross-referencing multiple feeds.

Cloud Trade Copier (CopyFactory API)

This feature allows for the development of full-featured copy trading applications. Metaapi.cloud Review & First Look: A Deep Dive into its Forex API Offerings

• Instant Trade Copying: Claims near-instantaneous copying of trades, with execution in “about 1 millisecond.”
  • Latency: Critical for maintaining synchronization between master and copier accounts.
  • Performance: A key selling point for users who want to replicate trades with minimal delay.
  • Scalability: Designed to handle a large number of copier accounts efficiently.
• Redundant Infrastructure: The CopyFactory application runs on a redundant infrastructure for high availability.
  • Reliability: Minimizes downtime and ensures continuous operation of copy trading services.
  • Fault Tolerance: Protects against single points of failure, crucial for financial applications.
  • Uptime Guarantee: Important for service-level agreements (SLAs) in business contexts.
• No-Code Dashboard: Offers a dashboard for using the trade copier like regular software, even without programming skills.
  • Accessibility: Broadens the user base beyond developers to include retail traders.
  • Ease of Use: Simplifies the setup and management of copy trading.
  • Market Demand: Copy trading platforms have seen a surge in popularity, with platforms like eToro reporting millions of users.
• Scalability for Many Accounts: Designed to scale well for handling numerous trade copying relationships.
  • Performance Under Load: Ensures performance doesn’t degrade as more accounts are added.
  • Resource Management: Efficient allocation of computing resources for parallel processing.
  • Business Model: Supports copy trading as a business model for signal providers.
• Trade Replication Logic: Manages the logic for translating master account trades to various follower accounts, considering different account sizes and settings.
  • Proportional Sizing: Adjusts trade volumes proportionally based on follower account equity.
  • Customization: Allows for individual follower settings (e.g., risk multipliers, instrument filters).
  • Error Handling: Robust error handling to manage execution failures or divergences.