"Which API should I use?" is the first technical decision anyone automating has to make — and the wrong answer means rework. The good news: the choice is almost always dictated by the market you want to trade, not by preference. Let's clear it up fast and give you a decision rule.
Binance API
Mature REST + WebSocket APIs, extensive documentation, free testnet. Deepest crypto liquidity in the world.
Market: crypto (spot + futures)
Bybit API
Strong in derivatives and perpetual futures. API similar to Binance's, good documentation, testnet.
Market: crypto (futures focus)
MetaTrader 5
Python↔MT5 terminal bridge. The route into Forex and the Brazilian market (mini index and mini dollar futures).
Market: Forex, B3, stocks
01Head-to-head comparison
| Criterion | Binance | Bybit | MetaTrader 5 |
|---|---|---|---|
| Market | Crypto (spot+fut) | Crypto (futures) | Forex, B3, stocks |
| API type | REST + WebSocket | REST + WebSocket | Terminal bridge |
| Access to the B3? | No | No | Yes (via broker) |
| Language | Any (HTTP) | Any (HTTP) | Python (Windows) |
| Free testnet | Yes | Yes | Demo account |
| Needs terminal open? | No | No | Yes (MT5) |
| Runs on Linux? | Yes | Yes | Not natively (Windows) |
| Common library | python-binance / ccxt | pybit / ccxt | MetaTrader5 |
02The CCXT shortcut (crypto)
If you are going to trade crypto and might switch exchanges later, get to know CCXT — a library that unifies dozens of exchanges under the same syntax. You write the bot once and it runs on Binance, Bybit and others with minimal changes:
# same code, different exchanges — just swap the line import ccxt exchange = ccxt.binance() # or ccxt.bybit() candles = exchange.fetch_ohlcv("BTC/USDT", timeframe="15m", limit=100) print(candles[-1])
When to use CCXT vs the native library: CCXT for portability (multi-exchange) and fast prototyping. The native library (python-binance, pybit) when you need exchange-specific features CCXT does not expose, or maximum performance. To get started, CCXT is more flexible.
03The decision rule
Simplifying so you don't get stuck:
- Want to trade crypto? → Binance (spot) or Bybit (derivatives). Use CCXT if you want portability. Runs on Linux, no terminal needed.
- Want to trade Forex? → MetaTrader 5 with Python, through a Forex broker that offers MT5.
- Want to trade the B3 (mini index/mini dollar)? → MetaTrader 5 with Python is the way in. There is no crypto shortcut here.
- Want to prototype a strategy visually? → Pine Script + webhook to any of them.
Made your choice? Now get coding
We have a full tutorial for each one: Binance and the MT5-Python bridge, with ready-made code.
04Differences that matter in practice
WebSocket vs REST
Binance and Bybit offer WebSocket (data pushed in real time, ideal for reacting fast) and REST (you ask, it answers). For a bot that needs low latency, WebSocket. The MT5 bridge works differently — you query the terminal, which already keeps the data updated locally.
Where it runs
Binance/Bybit run on any server (a cheap Linux box does the job). MT5 requires Windows with the terminal open — in practice, a Windows VPS. That affects hosting cost and complexity.
24/7 market vs trading session
Crypto trades 24/7 — your bot never "closes". The B3 has a defined session (and margin changes overnight). Forex trades 24/5. That changes how you structure the loop and manage positions.
Honest advice: don't pick an API because it is trendy. Pick it for the market you understand and want to trade. The best crypto API is useless if your strategy is for the mini index. The market defines the tool, not the other way around.
05Frequently asked questions
What is the best API for a trading bot?
It depends on the market. Crypto: Binance (spot) or Bybit (futures), both with excellent REST and WebSocket. Forex and the B3: the MetaTrader5-Python bridge. The "best" one is the one for the market you want to trade.
What is CCXT?
A Python library that unifies dozens of crypto exchanges under the same syntax. It lets you write a bot that runs on Binance, Bybit and others with minimal code changes. Great for portability.
Can I automate the B3 with these APIs?
The Binance and Bybit APIs are crypto only. For the B3 (mini index, mini dollar), the route is the MetaTrader5 API with Python, through a broker that offers MT5 with access to the Brazilian market. See our dedicated guide.
WebSocket or REST?
WebSocket for real-time data and low latency (the server pushes updates). REST for one-off queries (you ask, it answers). Bots that react fast use WebSocket for data and REST to send orders.
Do I need to be a strong programmer?
Intermediate Python handles most of it. The libraries (python-binance, pybit, ccxt, MetaTrader5) abstract away the complexity. The bigger challenge isn't the API — it's the strategy logic and risk management.