Are you curious about forex trading? If so, keep reading!
Most people have a general idea of what the foreign exchange market is. However, not everyone understands how they can benefit from it. The foreign exchange market (forex) is the largest financial market in the world and it is, by far, the most liquid. It has an average daily turnover of more than $5 trillion; which means there are more opportunities to make money in this market than any other.
So what exactly is forex trading?
Forex trading refers to the buying and selling of currencies with the aim of making a profit. If you think about it; you’re probably exposed to forex every day when you travel or use online services that accept payments in other currencies. You may want to make an international transfer to buy property overseas; or send money to your relatives overseas for example. And every time you do so; you must first convert your local currency into another currency before making a payment. These transactions require a service provider that will facilitate these conversions at an agreed rate. Nowadays, one of the service providers available are forex rates APIs.
With an annual average daily turnover exceeding $5 trillion dollars, it’s no wonder that so many people are keen on getting involved in forex trading. If you have a website that deals in international transactions; or simply want to be updated with what is happening in the Forex market, we have the perfect API for you.
Stay up-to-date with Exchangr API
Exchangr is a forex API that uses JSON data to get exact currency conversions and forex rates. This information is acquired from a number of business sources and banks, resulting in a dependable and accurate FX system. As a result, you’ll have access to over 170 world currencies. That is, you will know exactly what currency to deal in and which currency is most convenient. Furthermore, because it can be linked into your website or app, this API provides a WordPress Plugin that allows you to access this information at any time.
Furthermore, the Exchangr API has a few essential characteristics that make it an excellent alternative for any expert or novice forex trader, such as: low rates of latency; strong data dependability; as well as excellent client service. And there’s more! To learn more about its features, please go here.
Why should you use Exchangr API?
First of all is super safe! We can assure you that Exchangr is completely secure at a bank-grade level. Because your connection will be encrypted with 256-bit SSL. Exchangr is already being utilized by financial departments; mobile applications; and back-office systems all around the world as a result of this. You may use it as well!
Second, this API comes with a comprehensive Documentations that allows its users maximum usability. It comes with information about Exchangr API’s use, how to make API calls, code examples, this API’s structure, methods, and probable errors. Once you have carefully read it, follow these steps:
- Register here. Following that, you will be given a one-of-a-kind combination of integers that will serve as your own API key. This key will be required to connect with the Exchangr endpoints!
- Select the currencies in which you are most interested. Rates, conversions, variations, historical data, and timeseries may all be obtained. The framework of the call will be determined by your objectives. Remeber, examples may be found in its documentation.
- Finally, once you’ve completed all of the preceding steps, you must perform the API request. And that’s it! The information you sought will be shown in a couple of seconds!
So, now that you know, start benefiting from the forex data that Exchangr API provides!
Related post: A Fool-Proof Formula for Easy Currency Strength Data
Also published on Medium.