Experts can you please give some insight on this.
That’s not necessarily true!
Since the commencement of algorithmic/programmatic trading, it has drawn attention from the trading fraternity because of its broad functionality and possibilities. However, lack of reliable APIs, bug-infested platforms or lack of proper security and infrastructure can expose to such risks.
By activating the trading APIs facility in your account, you would get just an access to the brokers market-ready infrastructure to execute your orders from the front-end platform of your choice through extremely secured data stream connections/encryptions. Therefore, the probability of occurrence of such an incident is almost null and by securing and not sharing your account credentials you could avoid this havoc.
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Thanks for the insight.