Do you want to know which foreign exchange data APIs are the best alternatives for Fixer this year? If so, keep reading!
Forex exchange data is one of the most important pieces of information in Forex trading. If you are not familiar with Forex, it is an acronym for Foreign Exchange Market, which is the global market for trading currencies. The forex market is open 24 hours a day and 5 days a week; and makes up over 80% of all daily currency trading volume in the world.
An API allows you to receive real-time feeds from the forex exchange server. This information can then be used by traders to analyze and make decisions about buying or selling currencies at the right time.
Now, Fixer is a financial company based in New York City. It has developed an open source platform for building customized trading applications and financial data feeds using public APIs from various finance providers.
The platform lets you create, test and deploy your own financial data products without the need for complex software development. But it isn’t perfect, for example, their services have multiple hidden costs the further you advance your project, and the cheaper options only allow you to make a very low amount of API calls.
If you are looking for a reliable alternative to Fixer’s Forex Data API then you have come to the right place. We have compiled a list of the best Forex data providers and forex exchange data API’s that are currently available.
That is why we recommend you try out these APIs!
1. Exchangr
Exchangr is a foreign exchange rates and currency conversion JSON API that provides precise and trustworthy information about the forex market. Due to its format, this tool collects information from reputable sources on 164 global currencies..
With Exchangr you can comprehend, follow, and be updated on what is going on in the world of economics and determine is which move you should do next. Maybe invest here, or purchase that from there, you can calculate without risk with its help!
With Exchangr, you won’t spend a cent because you can use its Free Plan. This one is very complete: you will get 250 API calls/month; coustumer support, hourly updates, access to historical data, and access to various endpoints (including timeseries, fluctuation and conversion).
However, in case you need more, you can pay a low monthly fee of USD 10 for enhanced API access, perks, and advanced features.
2. Currency Conversion
Currency Conversion is a simple currency conversion API that provides basic currency conversion capabilities online. This tool gives you access to 150 different world currencies.
If your needs are simple, you can use Currency Conversion’s Prepaid Server, that starts at USD 3. This service is ideal for people who are not consuming a lot of requests, since you can pay as you consume.
In this modality currency values are reset every 60 minutes; and the requests purchased never expires until used. On the other hand, the Premium Servers starts at USD 5 monthly and includes: premium support; 15 minutes updates; and high performance server for production use.
3. Currencylayer
Currencylayer is a forex rates API that uses JSON format to obtain currency conversions and exchange rates. Its currency data is gathered from a variety of commercial sources, which results in accurate data for 168 different foreign currencies.
This API also has both: a Free Version, as well as Subcription Plans. If you want to use Currencylayer for free, you will get: 250 API calls per month, daily updates, view historical rates, and limited support. On the other hand, this API’s subcription plans starts at USD 11.99 / month.
So which of this APIs should you choose?
That is completely up to you! Now you have all the information you need to decide what’s best for you, your economy and your financial decisions! Inmerse yourself into the world’s most exciting market and make all the profits you need with the help of a forex API!
Related post What Are Foreign Currency Tracker APIs And Why Are They Useful
Also published on Medium.