Are you looking to diversify your trading in the Forex market? You should start using a market data API. But how? Well, you are in the right place! We know exactly what you need!
The foreign exchange market, or Forex market, is one of the most exciting markets for traders today. However, this isn’t an easy market to enter into.
There are risks and complexities that you need to understand before you start trading. And, as this market continues to evolve with new technologies; there are products and tools that are coming out all the time.
Sometimes, these developments make trading easier for investors; other times, they simply confuse things.
Fortunately, for those who know how to trade in the Forex market with an FX API, they can make a good profit. Let’s see how:
How to Trade with a Forex API
A Forex API is a platform that helps traders perform their tasks better and quicker. With the accurate and real-time information a FX API provides, they can easily buy and sell currencies around the world.
With this tool, they can query the current exchange rate for specific currencies or connect to third-party services that offer currency conversions. All this information, will let them know when it is the right time to trade, and more importantly, where.
Also, a good API will allow them to be as flexible as possible by providing multiple currency pairs; as well as easy integration for them to use and display forex data on their website, or applications.
Like this, they will be updated with changes and fluctuations without spending hours searching for information in others sites.
So, if you are looking to trade in the near future, by now you know that a Forex API is what you need. And what is best than using the greatest one?
You should use Exchangr API to diversify your trading
Exchangr is a forex API that retrieves precise currency conversions and forex rates using JSON data. This data is gathered from a variety of business sources and banks; making its forex system reliable and accurate. As consequence, you’ll have accessibility to over 170 global currencies. Meaning that you will know exactly what is best to trade and in which currency is more convenient. In addition, this API offers a WordPress Plugin so you can access to this information at any time since it can be integrated into your website or app.
Now, just about every forex trading platform has an API for algorithmic trading. For instance, if you are a developer, you can use Exchangr API to build a trading application that connects to the Exchangr trading platform in your preferred programming language.
Furthermore, there are a few key features of the Exchangr API that make it a great choice for any experienced or beginner forex trader, like:
- Low latency rates
- Robust data reliability
- High-quality customer service
- And more! (You can find out more about its features by clicking here)
You can use Exchangr safely
This Forex API is not only accurate and reliable; it is also secured! We can guarantee you that Exchangr is absolutely protected at a bank-grade. Because your connection will be secured using 256-bit SSL encryption. For this reason, Exchangr is already being used by financial departments, mobile applications, and back-office systems around the world. And you can use it too!
How? First, you need to register here. Afterwards, you will receive a unique combination of numbers that will work as your very own API key. This key will be necessary to communicate with Exchangr’s endpoints! Second, choose the currencies you are most interested in. You can acquire rates, conversions, fluctuations, historical data, and timeseries. The structure of the call will depend on what you want. You can see examples in its Documentation by clicking here. Finally, when all of that is done, you have to make the API call. And tarán! The data you were searching for will be displayed in a matter of seconds!
So now that you have all this information in your mind, you can start trading like a pro with the help of Exchangr API!
Related post Use This REST API To Obtain Foreign Exchange Rates
Also published on Medium.