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What is The Foreign Exchange Market? And Why Should You Care?

Have you ever heard of foreign exchange? If your answer is yes, this post will help you. And if you haven’t, it will help you too!

You may have heard of the term “Forex” before, and if you have, it’s probably from a friend or family member discussing their latest investment idea. It sounds like something out of a James Bond movie; but Forex (also known as foreign exchange) is the largest financial market in the world.

You may not know it, but your business is already using the Forex market. If you’re selling products to customers abroad; or if you’re paying an overseas supplier, then you’re operating internationally (and quite possibly dealing in foreign currency).

Foreign Exchange Market

The foreign exchange market is one of the biggest markets in the world. In fact, it is larger than all other stock markets combined. It trades $5 trillion per day (yes, that’s trillion with a T!) and can be accessed by anyone at any time through an online Forex API. Now, let’s see what this tool is about.

What is The Foreign Exchange Market? And Why Should You Care?

How can it help you?

If you want to thrive at this World Market and make transactions to grow your business then using a Foreign Exchange API might be one of your best options. A Forex API is an online instrument that delivers real-time and reliable foreign exchange data, as well as currency conversions. With this kind of tool, you’ll learn more about what is happening in the world of economics so that you can know what is best for your economy. You’ll also know when and where to invest without losing money!

But, you maybe wondering which one of the several forex APIs out there is the one for you. Well, stop wondering about it! We will tell you which one!

Is Exchangr the right Foreign Exchange API for me?

We know for certain that it is; but you can see it for yourself! Exchangr is a real-time JSON foreign exchange API for more than 170 world currencies – including eight cryptocurrencies! Its forex system data is collected from various trustworthy sources and banks, so the information it delivers is accurate and reliable!

Due to the uncertainty of cryptocurrency prices, they are especially risky investment opportunities. However, using Exchangr will keep you well-informed about their rates and conversions; as well as their historical data. This will give you the possibility to predict their future changes!

Furthermore, using Exchangr is very simple! Just take a look:

What is The Foreign Exchange Market? And Why Should You Care?

Is Exchangr safe?

You can bet on it! Exchangr offers you Bank-Level protection. This means that your connection to Exchangr’s endpoints is secured with bank-grade 256-bit SSL encryption. Moreover, Exchangr API is popularly used to power financial dpts, smartphone applications, and back-office systems. It’s very safe and reliable!

In addition, you can showcase the most recent exchange rates (Dollars, British pounds, CAD, and the like) on your webpage by using Exchangr’s WordPress Plugin. This one provides full controls for displaying desired rates and the most recent using short codes and a custom WordPress Editor. Both you, and your visitors, will be up-to-date with what is happening in the Foreign Exchange Market at any time!

So, what are you waiting for? With all this information you are ready to benefit from Exchangr’s power!

Related post: Be Better Prepared To Make Financial Decisions With a Forex API

Also published on Medium.

Published inAppsApps, technologyCryptocurrenciesE-commerceFintechStartupsTechnology
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