Crypto exchange Bitfinex has introduced a new feature for its algorithmic trading toolkit, allowing users to test their trading strategies without putting actual funds at risk.
Bitfinex users can now deploy Honey Framework in their paper-trading sub-accounts. A paper trade is a simulated trade that allows users to practice buying and selling financial assets without risking real money.
Paolo Ardoino, Bitfinex’s CTO, says the paper trading feature is part of his company’s effort to democratize finance. He explained:“The launch of paper trading on the Honey Framework forms part of our commitment to making powerful trading tools more accessible to the wider community. This will enable our growing customer base to explore highly sophisticated algorithmic trading strategies.”
Honey Framework allows traders and developers to create their own automated trading strategies and order types. Accessible in both NodeJS and Python, the toolkit is designed to help users customize their trading experience.
The toolkit allows Bitfinex users to customize their algo strategy to capitalize on rapid fluctuations in the price of Bitcoin (BTC), Ethereum (ETH) and otherTitle: Bitfinex users can now paper trade their custom algo strategies
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