Which API should I use?

  • Use v20 REST API only if you have a v20 account
  • Use v1 REST API if your account id contains only digits (ie. 2534253) as it is a legacy account

Best Practices


Introduction

The OANDA API development team strives to bring the best overall experience for our API users. Here is a set of best practices to use the API as efficiently as possible.

Connection Limits

To provide equal resources to all clients, we recommend limiting both the number of new connections per second, and the number of requests per second made on a persistent connection (see above/below).

For new connections, we recommend you limit this to twice per second (2/s). Establishing a new TCP and SSL connection is expensive for both client and server. To allow a better experience, using a persistent connection will allow more requests to be performed on an established connection.

For an established connection, we recommend limiting this to one hundred per second (100/s). Please see following section on persistent connections to learn how to maintain a connection once it is established.

HTTP Persistent Connection

This keeps the underlying TCP connection active for multiple requests/responses. Subsequent requests will result in reduced latency as the TCP handshaking process is no longer required.

If you are using an HTTP 1.0 client, ensure it supports the keep-alive directive and submit the header Connection: Keep-Alive with your request.

Keep-Alive is part of the protocol in HTTP 1.1 and enabled by default on compliant clients. However, you will have to ensure your implementation does not set the connection header to other values.

Retrieving and updating account state

The OANDA v20 API is designed to make it simple and easy to obtain the entire state of your account with an initial Account Details request, and then keep that snapshot completely up to date with repeated Poll Account Updates requests. This allows an application to keep a full and consistent view of an account with a simple update loop.

Starting up

When your application first connects it should issue the Account Details request and store the returned Account snapshot, which represents a complete and self consistent view of everything in your account including all pending orders, trades, and positions. The application should also store the returned TransactionID object for use in future Poll Account Update calls.

Updating

In order to keep the Account snapshot up to date the application should send the Poll Account Updates request, providing the last TransactionID returned in the initial Account Details request or the most recent Poll Account Updates request. The response contains anything that’s changed in the account since the supplied TransactionID and comes in two types, AccountChanges and AccountState.

The AccountChanges object represents any changes to Orders, Trades, Positions, or balance caused by Transactions processed against the account. To keep your Account snapshot up to date simply add, remove, or replace the entities in the Account snapshot with those specified in the AccountChanges object. This type of change is likely to be infrequent as Transactions only occur when the user makes a request or an order triggers.

The AccountState object represents an Account’s current price-dependent state. This is any value in the Account snapshot that changes when prices change, such as unrealized PL, Net Asset Value, or Trailing Stop Loss state. To keep your Account snapshot up to date simply replace the entities in the Account snapshot with those specified in the AccountState object. This type of change is likely to be frequent as prices can change more than once a second.