Are you interested in integrating a forex rates tracker API into your platform? If you don’t know where to begin, we think you’ll find this article quite helpful.
Forex is short for foreign exchange. It is the global market where currencies are traded 24/5. Forex trading also referred to as FX, is usually conducted via the Internet, foreign exchange dealers.
It consists of the buying and selling on global currency markets by currency traders and investors. Investors to profit from the fluctuations in each currency’s value against other currencies.
It is the largest financial marketplace in the world. The average daily turnover is estimated to be $4 trillion. It is bigger than the global stock markets’ turnover combined, which makes it the most liquid market in the world. The reputation and popularity of the forex trading industry has grown significantly in the last few years.
Most providers all offer clients an API to gain access to live rates, historical rates, and much more. However, there are hundreds of forex APIs out there, and not all of them are made equal. To save you some time, and some googling, we’ll recommend you try out Exchangr.
Why Exchangr?
Exchangr is a REST API that uses the JSON data format to deliver accurate currency exchange rates and conversions to consumers and businesses.
For diverse actions, the API includes five customizable endpoints. The live endpoint returns real-time exchange rates, the historical endpoint returns historical currency rates, the convert endpoint converts multiple currencies, the time-series endpoint returns exchange rates over a specified time period, and the fluctuation endpoint returns change parameters for any currency.
The Exchangr API supports 164 different currencies and 8 different cryptocurrencies from all over the world. The data is gathered from a number of commercial forex data sources and banks and combined algorithmically before being supplied to consumers. It provides data updated on a regular basis, with intervals ranging from 60 minutes to every 60 seconds.
Are you ready to use a reliable forex rates tracker API?
As you can see, the Exchangr REST API endpoint offers extensive currency data that can be used with any platform and computer language. Here’s a basic demonstration. It demonstrates how to use the Exchangr REST API for scripting, online, and desktop-based apps to access any currency against any of our currencies.
You can also make use of the free tier on Exchangr. If you want more API calls per month, we highly advise you to upgrade your membership package. You may also get in touch with them for a tailored solution. We’re excited to see what you can do with a Forex API!
Also published on Medium.