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EMS Trading API

Welcome to the CoinAPI FAQ. We've grouped the most common customer questions by product to help you find quick, clear answers.

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Frequently Asked Questions​

1. What is the EMS Trading API and what are its key features?​

What is the EMS Trading API and what are its key features?

The EMS (Execution Management System) Trading API is CoinAPI’s unified trading interface that allows you to manage multiple exchange accounts, automate strategies, and route orders efficiently — all from a single API.

Key features include:

  • Multi-Exchange Access: Trade on Binance, Kraken, Coinbase, Bitfinex, and more through a single API
  • Order Management: Place, modify, cancel, and monitor orders in real time
  • Real-Time Market Data: Get access to market depth, spreads, and execution events
  • Smart Order Routing (SOR): Automatically routes orders to the exchange with the best price or liquidity
  • Algorithmic Trading Support: Build and deploy automated strategies with low-latency response
  • Risk Controls: Monitor account exposure, enforce limits, and control access
  • Unified Abstraction Layer: Avoid the complexity of managing different exchange APIs
  • Security Built In: All credentials and trade flows are securely managed

The EMS Trading API is available in both REST and FIX protocol versions and is built for institutions, quant teams, and infrastructure platforms.

2. Can I customize the EMS Trading API for my trading strategies?​

Yes. The EMS Trading API is built with flexibility in mind — it supports automated execution, market analysis, and custom strategy integration across multiple supported exchanges.

You can:

  • Automate order flows and execution logic
  • Integrate your own signal engine or strategy logic
  • Customize how smart order routing (SOR) behaves (exchange selection, slippage, order types, etc.)
  • Choose between REST and FIX for your execution layer

Advanced features and customization options are best supported under our Enterprise Plan.

3. Does the EMS Trading API offer Service Level Agreements (SLAs)?​

Yes. Service Level Agreements (SLAs) are available for the EMS Trading API, but the specifics depend on your subscription tier.

  • Standard SLAs are included in paid plans
  • Custom SLAs with stricter uptime, latency, and support guarantees are available under the Enterprise Tier

To review SLA terms or upgrade your plan, please contact our support team or your account manager.

4. How can I manage multiple trading accounts using the EMS Trading API?​

You can manage multiple trading accounts by registering each one through the EMS account management endpoint. Once accounts are added, the API lets you:

  1. Add exchange credentials securely via the POST /v1/accounts endpoint
  2. Assign each order to a specific account using account identifiers
  3. Route orders programmatically across accounts and exchanges
  4. Track execution and manage positions per account via the REST API or FIX protocol
  5. Use the /v1/accounts and /v1/orders endpoints to monitor activity per exchange or user

This approach allows centralized execution while preserving full account-level control.

For more, refer to:

EMS API – Managed Cloud REST API: Account Management

5. How do I get started with the EMS Trading API?​

To get started with the EMS Trading API:

  1. Choose Your Hosting Option
    • Managed Cloud: Hosted and maintained by CoinAPI
    • Self-Hosted: You run the EMS engine on your infrastructure
  2. Sign Up and Get an API Key
    • Visit https://www.coinapi.io and register for a subscription
    • Your API key will be available in the Customer Portal
  3. Review the API Documentation

    • Explore the EMS API reference and integration guides:

      EMS API Docs

  4. Make Your First Request
    • Use the /v1/accounts or /v1/orders endpoints to authenticate and start routing orders

Pro Tip: For enterprise setups, we offer integration assistance, custom SLAs, and FIX protocol support.

6. How does the EMS Trading API compare to single-exchange access?​

The EMS Trading API offers a unified and scalable alternative to managing separate integrations for each exchange:

  • Unified API: Access multiple crypto exchanges through a single standardized interface (REST or FIX)
  • Efficiency: Place and manage orders from one platform—no need to juggle multiple APIs
  • Scalability: Handle multiple accounts and exchanges simultaneously, ideal for institutional setups
  • Smart Order Routing (SOR): Automatically routes orders to the exchange offering the best price, liquidity, or latency

This makes it easier to build and maintain complex trading systems while optimizing for speed and performance.

7. What are the rate limits for the EMS Trading API?​

Rate limits for the EMS Trading API vary depending on your subscription tier and usage type (REST vs. FIX).

  • Default limits are designed to support most trading workflows
  • Enterprise plans offer custom or higher throughput limits
  • If you receive 429 Too Many Requests errors, you are exceeding your allowed request rate

Best practices:

  • Implement client-side rate limiting using exponential backoff or request pacing
  • Avoid unnecessary polling—use efficient endpoints and caching
  • Monitor usage and adjust intervals based on your plan

8. Which exchanges are supported by the EMS Trading API?​

The following exchanges are currently supported via the EMS Trading API:

  • BINANCE
  • BINANCEFTS
  • BINANCEFTSC
  • BINANCEFTSCUAT
  • BINANCEFTSUAT
  • BINANCEOPTV
  • BINANCEOPTVUAT
  • BINANCEUAT
  • BINANCEUS
  • BITFINEX
  • BITMEX
  • BITMEXUAT
  • BITSTAMP
  • BLOCKCHAINEXCHANGE
  • COINBASE
  • DERIBIT
  • DERIBITUAT
  • GEMINI
  • HITBTC
  • KRAKEN
  • KRAKENFTS
  • LMAXDIGITAL
  • LMAXDIGITALUAT
  • POLONIEX
  • DYDX

This list includes both production and UAT (user acceptance testing) environments.

For technical integration guidance and API usage instructions, visit the EMS API documentation:

https://docs.coinapi.io/ems-api

9. Who benefits from the EMS Trading API?​

  • Institutional & Retail Investors: Automate and optimize trading
  • Crypto Prime Brokers: Manage multiple accounts efficiently
  • OTC Desks & Market Makers: Improve execution speed and price discovery
  • Crypto Custodians & Lenders: Monitor real-time asset values
  • Exchanges & Retail Platforms: Expand trading options with multi-exchange access

10. Do I need my own exchange accounts to use CoinAPI's EMS Trading API?​

Yes, to use CoinAPI’s EMS (Execution Management System) Trading API, you must have your own accounts with the supported cryptocurrency exchanges.

The EMS API is designed to centralize and manage multiple trading accounts across different platforms, offering:

  • A unified trading interface
  • Streamlined order execution
  • Consistent reporting and monitoring

However, CoinAPI does not provide exchange accounts — it acts as a powerful integration layer across the accounts you already hold.

11. Does the EMS Trading API include price data, order book access, and trade execution?​

Yes, the EMS Trading API offers a comprehensive trading layer that includes:

  • Order book visibility
  • Order management across multiple exchanges
  • Trade execution capabilities
  • Smart Order Routing (SOR) based on integrated price data

However, it's important to clarify that the price data used within EMS is not directly exposed to the user.

Here’s a breakdown:

  • EMS internally leverages CoinAPI’s Market Data to support trading logic like SOR.
  • But it does not expose full Market Data API endpoints or historical data access.
  • If you need raw price feeds, OHLCV, trades, or quotes, you must subscribe to the Market Data API separately.

To use EMS, you must also connect your own accounts with supported exchanges — CoinAPI does not provide brokerage services or trading accounts.

12. Can you trade on both CEX & DEX (DYDX) exchanges from a single EMS Trading API account?​

Yes, CoinAPI's EMS Trading API supports trading across both centralized exchanges (CEXs) and decentralized exchanges (DEXs) like dYdX, all through a unified API interface.

You can connect multiple exchange accounts—centralized or decentralized—under one EMS Trading API integration. This allows you to:

  • Route orders to different venues from a single interface
  • Apply algorithmic strategies (e.g., SOR) across CEX and DEX liquidity
  • Monitor executions and positions across all connected accounts
  • Simplify backend infrastructure while expanding market coverage

Our unified trading layer abstracts away exchange-specific quirks, so you can focus on strategy and execution—not on building dozens of integrations.

dYdX support includes wallet-based auth and DeFi-specific order management workflows.

13. How does CoinAPI’s Smart Order Routing (SOR) determine the best exchange for order execution?​

CoinAPI’s Smart Order Routing (SOR) engine evaluates multiple real-time factors across supported exchanges to determine the optimal venue for executing trades. The routing decision depends on the algorithmic order type selected (e.g., VWAP, TWAP, Iceberg), and considers inputs such as:

  • Order book depth
  • Liquidity availability
  • Execution speed and latency
  • Trading fees (if applicable)
  • Price impact and slippage tolerance
  • Market volatility

Each algorithm is designed to optimize for different execution goals — from minimizing market impact to matching volume curves. SOR dynamically adjusts routing as market conditions change. Full documentation of the supported strategies will be published soon.

If you're interested in a custom trading algorithm or integration, contact our team for Enterprise-level features.

14. Why do I get an empty response when calling the EMS /v1/endpoints API?​

An empty response from https://ems-mgmt.coinapi.io/v1/endpoints typically means that no exchange accounts have been defined under your EMS Trading API subscription. The EMS service requires at least one associated account to return endpoint information.

If the response is empty, it indicates that:

  • No trading accounts are currently linked to your EMS subscription
  • The EMS system cannot generate endpoint data without those account configurations

To resolve this, you'll need to add or update exchange accounts via the EMS API.

Refer to our guide here:

Add or manage EMS accounts

15. What is the rate limit for the EMS Trading API?​

The EMS Trading API has no enforced rate limits.

This means you can send trading requests—such as order placements, cancellations, and modifications—without restriction on frequency, allowing for high-performance, low-latency execution strategies.

Note: While there are no rate limits on CoinAPI’s side, external exchanges connected via EMS may impose their own constraints.

16. Is Smart Order Routing (SOR) included in the basic EMS Trading API package?​

Yes, Smart Order Routing (SOR) is included by default in the base EMS Trading API package. You don’t need an upgrade or add-on to access this functionality.

SOR enables your orders to be intelligently routed across connected exchanges based on available liquidity, price, and execution conditions, helping you achieve better fill quality without additional setup.

17. We need a OneZero FIX API session. Is this possible with CoinAPI?​

Yes, CoinAPI is certified with OneZero as an external data provider. We offer OneZero FIX API session support, but it requires an additional subscription available on an annual billing cycle.

Reach out to our support team if you are interested!

18. What order types does Smart Order Routing (SOR) support?​

CoinAPI’s Smart Order Routing (SOR) engine supports a variety of algorithmic order types designed to optimize trade execution across multiple exchanges. Supported order types include:

  • Iceberg Orders – Hides the full size of a large order by splitting it into smaller visible chunks
  • VWAP (Volume Weighted Average Price) – Executes orders based on historical or real-time volume distribution
  • TWAP (Time Weighted Average Price) – Splits a large order over time to minimize market impact
  • Volume Participation Orders – Matches execution with real-time market volume to maintain a target participation rate

These order types allow for advanced execution strategies across centralized and decentralized venues using a single EMS Trading API interface.

19. Will I get access to the Market Data API if I purchase the EMS Trading API?​

No, purchasing access to the EMS Trading API does not grant direct access to the Market Data API.

While the EMS Trading API internally uses CoinAPI’s market data (for Smart Order Routing, order validations, etc.), that data is not exposed to you directly via REST, WebSocket, or FIX interfaces.

If you require direct access to historical or real-time market data for analytics, charting, or pricing, you’ll need to subscribe to the Market Data API separately.