Bitfinex, a state-of-the-art digital token trading platform, has launched paper trading for the Honey Framework, enabling users to test drive automated trading strategies in a simulated environment without putting real funds at risk.
Users can use the Honey Framework to create custom order types or event-driven automated trading strategies in their paper trading sub-accounts. The framework, which integrates natively into the Bitfinex trading platform, also enables users to backtest market data to better inform their algorithmic trading strategies.
“We believe in the democratisation of finance and technology,” says Paolo Ardoino, CTO at Bitfinex. “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.”
Traders on Bitfinex are deploying algorithms on the Honey Framework to exploit rapid price fluctuations in bitcoin, ether, and other leading cryptocurrencies. Recently, Bitfinex has seen visitors to the Honey Framework more than triple, further underlying the growing interest in algorithmic trading. These traders are also exchanging ideas and strategies on Bitfinex Pulse, a social network tailored to meet the needs of professional crypto traders.