QuantConnect is an open-source algorithmic trading platform. Users can trade derivatives, options, equities, cryptocurrencies, and other financial instruments with it. Over 100,000 quants from across the globe use the platform. Quants are people who are specialized in mathematical finance.
In 2011 Jared Broad founded QuantConnect. In 2015 it went open-source. QuantConnect grew from 45,000 users in 2017 to over 65,000 in 2018. Half of the total users are from the U.S. In 2017 QuantConnect integrated with Coinbase’s GDAX exchange to enable cryptocurrency trading.
How does QuantConnect work?
QuantConnect works by providing its users with market data and the ability to develop APIs. Users can set their own prices for their developed APIs and earn 70% of the fees generated. About 5% of users are full-time quants on QuantConnect.
What technology does QuantConnect use?
QuantConnect uses APIs written in Python, C#, and other languages via its Lean Algorithmic Trading Engine (LEAN). This trading engine allows users to design algorithms and backtest them. Users can download LEAN for free and extend it for commercial purposes. Over 100 hedge funds use LEAN to deploy trading algorithms.
Gekko and Freqtrade are open-source project alternatives to QuantConnect. 2commas, Mudrex, and Tunes are cryptocurrency alternatives for QuantConnect.
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All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.