In the world of financial markets and trading, having access to accurate and up-to-date data is paramount. Traders and businesses rely on APIs (Application Programming Interfaces) to retrieve crucial information, and OANDA API has long been a trusted source. However, as we step into 2024, the landscape is evolving rapidly, prompting many to explore an Alternative To OANDA API that can offer a broader spectrum of data and services like Metals-API.
In this article, we will introduce you to five such alternatives that cater to a diverse range of metal and commodity market needs.
Alternative 1: Metals-API
Overview of Metals-API
Metals-API is a robust alternative to OANDA API that offers a comprehensive set of features for accessing real-time and historical data for various metals. Whether you need the latest updates on copper prices, silver troy ounce rates, or even more exotic elements like tellurium, Metals-API has you covered.
Key Features and Benefits
Metals-API distinguishes itself with features such as detailed metal prices API, comprehensive metals JSON API, and an array of metals symbols available through its API. Its easy-to-use structure ensures you can seamlessly integrate it into your trading or business platform.
Alternative 2: XE.com API
Introduction to XE.com API
XE.com API is an excellent choice for those seeking a well-rounded source of currency and metal market data. In addition to traditional currencies, it provides data on precious metals, making it a versatile alternative to OANDA API.
Highlighting Unique Features
XE.com API stands out with its unique feature set, including NYMEX rates API for metals like gold and silver. Its comprehensive coverage of precious metals, combined with standard currency data, makes it an all-in-one solution.
Alternative 3: Forex.com API
Unveiling Forex.com API
Forex.com API is an ideal choice for traders who want to focus on both foreign exchange and precious metals. Its comprehensive approach provides valuable insights into currency markets and metals.
Forex.com API shines with features like precious metals API that includes data on palladium, platinum, and rhodium prices. This ensures you can make informed decisions across multiple markets.
Alternative 4: TradingView API
Getting to Know TradingView API
TradingView API is an exceptional choice for traders who rely on technical analysis and charting tools. While it offers a different set of services compared to OANDA API, it’s an invaluable resource for many.
Special Features for Traders
TradingView API provides a wide array of technical analysis and charting features, making it a favorite among traders. It offers in-depth market data and insights that help with trading decisions.
Alternative 5: Interactive Brokers API
Exploring Interactive Brokers API
Interactive Brokers API is a top choice for traders and investors looking for a comprehensive trading and data solution. It offers a range of features that cater to the diverse needs of the financial industry.
Why Do We Recommend Metals-API As The Best Alternative?
When Metals-API initially made its debut, it was a simple, lightweight Open-Source API designed to provide users with the latest and historical precious metals rates sourced from various banks. With a refresh rate as frequent as every 60 seconds and precision down to 2 decimal places, the API has evolved to offer real-time precious metals data.
The API now offers a wide range of functionalities, including real-time exchange rates for precious metals, currency conversion, time-series data, fluctuations, and daily low and high price information.
Moreover, the Metals-API delivers EOD (end-of-day) historical exchange rates, which become available at 00:05 am GMT for the previous day.
Where Is The Data Coming From?
Exchange rate data by the API comes from over 15 reliable data sources, every minute. Furthermore, sources include banks and financial data providers.
How Do I Use It?
1 – Register
2 – Look for the symbols that match your search
3 – Make an API call with them, placing your selected metals in symbol, and your preferred currency in base currency.