To ignite the trading community and systematic traders with infinite possibilities, FYERS has taken a strategic leap by introducing a new and upgraded version of API. As we are known for innovation through cutting edge technologies, the latest API version is one of the most advanced and reliable trading APIs in the brokerage industry. It allows users to customize order execution, manage positions, access historical or real-time market data, and much more. With our in-house API, you may build customized trading applications & setups.
Addressing constant feedback from the trading fraternity associated with FYERS, this version offers improved performance and better error handling than the previous versions. It also has several new features that make it more versatile and user-friendly.
Here are some of the highlights of what’s new in Fyers API.
➤ Enhanced Performance: With the upgraded API version orders are executed in under 50 milliseconds, which means you can execute your trades faster with lower latency. This reduces the chances of price slippage and enhances trading efficiency.
➤ Key features introduced: Fyers API is upgraded with enhanced functionality.
New Data Socket: It enables traders to receive faster ticks to monitor the market closely and react more quickly to price changes. A tick shows the smallest possible price change of an instrument in the market. For instance, if the price of NIFTY50 changes from 19380.10 to 19380.15, that is one tick, i.e., ₹0.05. The frequency and magnitude of ticks indicate the instrument’s volatility and liquidity, which are important factors for traders to consider. You can also opt for lite mode, which only sends last traded price (LTP) updates, saving bandwidth and boosting performance.
Separate WebSocket for Market Depth: With a dedicated WebSocket connection, you gain more control by requesting market depth data independently. Market depth data can help you gauge the supply and demand of the market, as well as the liquidity and volatility of the security. You can use market-depth data to plan your entry and exit points, identify trading opportunities, and execute your trades at the best possible prices.
Increased Subscription Size: With an increase in the subscription size, you can now easily subscribe to upto 200 symbols and access real-time information for all symbols simultaneously. This means that you can simultaneously monitor the price movements of up to 200 instruments without missing any important changes or opportunities. You can customize your subscription list according to your preferences and algo trading strategies. An increased subscription size benefits algo traders interested in tracking multiple securities across different sectors and segments of the financial markets.
➤ New Order Socket: API is upgraded with new order sockets, position sockets and trade sockets.
Order Socket: With this, you can place, modify, and cancel orders in real time using a WebSocket connection. You can also get instant order confirmation, status updates and handle different types of errors such as invalid parameters, authentication failure, network failure, etc with ease. This is a great feature for algo traders who want more control and flexibility over order management.
Position Socket: With Position Socket, you can get live real-time updates on your positions using a WebSocket connection. You can also view various metrics such as your net position value, product type, realized and unrealized profit and loss, etc. Position sockets are helpful for traders who want more visibility and control of their positions.
Trade Socket: With this feature, you can track your trades and executions using a dedicated WebSocket connection. Now, this means you can verify the details of your completed trades in real time while getting confirmation from Fyers API instantly. Additionally, you can view various parameters, such as your trade price, quantity, timestamp, order type, etc. Trade sockets can be helpful to traders who want continuous control and visibility of their trades.
➤ General WebSocket: You can receive real-time eDIS (Electronic Delivery Instruction Slip) and price alerts using the WebSocket connection.
➤ Improved Error Handling Callbacks: The latest version of Fyers API provides detailed error messages and responsive callbacks for quick issue resolution. Now, you can get clear and informative feedback on errors or issues occurred.
➤ Other Enhancements: With informative feedback, this API is launched with improvements to its existing features and functionalities, such as Improved history API, new market status API, improved quotes and market depth API, and improved Span Calculation API.
This version is more user-friendly, with clear and consistent API documentation, an intuitive interface, and a comprehensive information base.
How to Migrate to Fyers API Version 3?
If you already use any previous version of Fyers API, you can easily migrate to the latest version with minimal changes.
Trading APIs (REST calls): The endpoints have changed. The request and response payloads remain backward compatible, so you don’t need to change anything else in your code.
SDK and Sockets: You need to update the endpoints for the new features such as Data Socket, Order Socket, etc. The new socket is accessible only through the SDK, so you need to use our SDK to access it. Refer to our latest API documentation for the details.
Why should you migrate to the latest API version?
Fyers API version 3 offers the following benefits to the trading community:
Cost Efficient: One of the best things about Fyers API is its pricing. You can start algo trading or integrate with third-party platforms using Fyers API free of cost. This allows traders to use APIs without worrying about subscription fees or hidden charges.
Scalability: With APIs, you can scale up the trading strategies and execute multiple orders simultaneously. You can easily handle medium-frequency trading and manage intricate algorithms with ease.
Unwavering accuracy: Human emotions like happiness, greed, fear, hope, and despair primarily impact trading decisions. However, using our API, you can automate trading decisions, eliminating human errors and emotional biases. You can also backtest your strategies and optimize your parameters using historical data.
Flexibility: You may use Python & Node.js to interact with our API and build custom trading applications.
Conclusion
In our constant endeavor to empower the trading community, the new and advanced API version provides the speed, accuracy, and automation to make split-second trading decisions and maximize trading potential. It offers improved performance, better error handling, and many new features that make it more versatile and user-friendly. Whether you are a beginner or an expert, Fyers API version 3 can help you take your trading to the next level.
Fyers API latest is free and easy to use. However, access is limited to FYERS clients. To start exploring FYERS API, open a demat account with FYERS.
Feel free to reach out to us on Fyers community for all API related queries and we'll revert back to you promptly.