QuantConnect – Open Data Library For Free Live Crypto Trading?
QuantConnect promises to pioneer tomorrow’s trading by researching, backtesting, and trading your investments. Find out how it works today in our review.
What Is QuantConnect?
QuantConnect is an open-source, cloud-based, algorithmic trading platform that supports forex trading, options, futures, derivatives, and cryptocurrencies.
In October 2017, the platform made headlines for adding cryptocurrency support due to integration with Coinbase’s Global Digital Asset Exchange (GDAX). They also plan to integrate with Kraken in the near future. This is the first time QuantConnect has officially integrated with a cryptocurrency exchange.
Overall, QuantConnect is a leading quant platform available online today. Let’s take a closer look at how it works – and what makes it different from other algorithmic trading platforms.
How Does QuantConnect Work?
With QuantConnect, traders can build algorithms in a browser IDE while taking advantage of QuantConnect’s template strategies and free data. Users can design and test their strategy on free data until that strategy is ready to be deployed.
Users can code in multiple programming languages and harness a cluster of hundreds of servers to run their backtest or analyze their strategies. Users can test strategies in forex trading, equities, contracts for difference (CFDs), options, or futures markets. Now, with the addition of GDAX, QuantConnect has added cryptocurrencies to that last.
Overall, QuantConnect claims to be the next revolution in quant trading due to its combination of cloud computing and open data access.
QuantConnect emphasizes all of the following features:
Unparalleled Speed: QuantConnect has a server farm that allows users to access “institutional speeds” from their desktop computer.
Massive Data Library: QuantConnect has a 400 TB tick resolution data library available to users for free. That library covers US equities, options, futures, fundamentals, CFD, and forex markets dating back to 1998. There’s a total of 29,000+ stocks, 100+ currency pairs, 70+ CFD contracts, and more.
Morning Star Fundamental: QuantConnect offers Morning Star Fundamental data for the most popular 8,000 symbols for 900+ indicators dating back to 1998.
The Best Execution: QuantConnect’s live trading algorithms are co-located next to the market servers in Equinix (NY7) for resilient, secure, and fast execution to markets.
Team Coding: Collaborate with teams over the QuantConnect platform. Share products and see code instantly as team members type. You can grant live access and control the live algorithm together. QuantConnect has a built-in messaging platform to find prospective team members and join forces.
Secure Intellectual Property: QuantConnect ensures traders can secure their intellectual property when it’s ready for deployment. They’ll walk you through the process and help you execute through the broker of your choice. Some of the available brokers include Interactive Brokers, FXCM, OANDA, GDAX, and QuantConnect.
Monthly Competitions: QuantConnect has monthly trading competitions to recruit the best engineers and give them access to capital.
QuantConnect offers three different subscription levels, including each of the following:
Community (Free): Allows you to be part of the community
Prime ($20 Per Month): Access all of the QuantConnect features listed above
Professional ($250 Per Month): For advisors and investment professionals
Who’s Behind QuantConnect?
QuantConnect was founded in New York in 2013 by Jared Broad (Bloomberg reports the founding date as 2013, while Crunchbase lists August 2011).
Broad’s LinkedIn profile describes himself as an “entrepreneur, quant, humanitarian, explorer, active trader and biomedical engineer.” He’s originally from New Zealand.
QuantConnect Integrates With GDAX To Offer Cryptocurrency Support
On October 18, 2017, QuantConnect announced the launch of cryptocurrency support by integrating with Coinbase’s GDAX, one of the world’s most popular cryptocurrency exchanges.
“Adding cryptocurrency support to QuantConnect was the next logical step for our business,” said QuantConnect CEO Jared Broad in the initial press release.
“As a powerful open-source initiative, we saw an opportunity to reach a larger set of quants & engineers that have been investing in digital currencies. Now, with a strategic integration with GDAX, the QuantConnect community can design and instantly deploy cryptocurrency strategies.”
QuantConnect also plans to connect with other cryptocurrency exchanges by Q1 2018. Kraken was mentioned as the next major target in the press release.
In the press release, QuantConnect also mentioned the tremendous growth experienced by the company over the past year. The company’s strategy building and backtesting activities have increased 300%, for example, and live algorithms are up 30%.
QuantConnect is a popular quant trading platform that allows traders to test algorithms based on an enormous dataset. That dataset is available for free, and dates back to 1998. Traders can backtest strategies, partner with other developers to create algorithms, and participate in monthly engineering contests for the best algorithms.
In October 2017, QuantConnect made headlines for partnering with GDAX, which means cryptocurrencies are now officially supported by the platform.
To learn more about QuantConnect, visit the platform online today at QuantConnect.com
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