Do you want to explore the foreign exchange world? You can do it right now, with the help of a Forex API!
Forex is the exchange of one currency for one more, or the conversion of one currency into another. Foreign exchange markets exist because there is a need for currency transformation in international business and trade. The currencies that are traded are known as “foreign money”; and the forex market is where these currencies are exchanged.
Trading in the forex market is not done at one central location; but is conducted between participants through electronic communication networks (ECNs) and phone networks in various markets around the world. The market is open 24 hours a day, five days a week across major financial centers across the globe. This means that you can buy and sell currencies at any time during the day. However, it also can be overwhelming. You have to be updated with what is going on if you don’t want to lose your money. That’s when a Forex APi comes in handy.
A Forex API can assist you.
A Foreign exchange API can help you by allowing you to obtain real-time exchange rates; and currency conversions directly from your website or mobile app. This means that you will know what the value of different currencies are at any given time; so that you can make wise decisions about the future of your finances.
Nowadays, having this kind of tool at your disposal can be the difference between losing and gaining money. That is why, for your convenience, we will recommend you one of the best Forex APIs in the market!
You can explore the Forex Wold with Exchangr.
Exchangr is a foreign exchange API that is simple to integrate into your website or application. It comes in portable JSON format for optimal usage, integration, and compliance. Due to its format, this API gives accurate currency exchange rates and conversions. It also provides real-time data for more than 170 international currencies (including cryptocurrencies).
With Exchangr, there are additional things you can do besides getting real time rates and changing currencies. Among other things, you may:
- Obtain historical rates;
- Convert single amounts;
- Get currency exchange parameters;
- Switch source currency.
Furthermore, if your requirements are modest, the Small Version will suffice. To use it, you don’t have to pay a cent because it’s free! However, if you require extra benefits, you can subscribe to the Growth Version. With it, you will access advanced features and perks by only paying $10 every month. This makes Exchangr affordable, with an ideal price for startups!
How to use Exchangr:
- To get started, register here (for free!) and acquire your personal API key; which is a very specific combination of letters and numbers that you’ll use to access Exchangr’s endpoints.
- Choose the currencies you are most focused on, to obtain rates or conversions.
- Last but not least, make the API call. Bear in mind that you can follow this Documentation here to learn more about API calls, Exchangr’s structure, potential errors and code examples.
- Wait for your results!
And that is all! Within seconds, the information will be displayed in front of you. As you can see Exchangr is very simple to use, and cost-effective!
If you have any doubts, you can visit Exchangr’s Frequent Asked Questions site here. There you will find a lot of already-answered questions that will help you resolve any inquiry you may have. You will learn about General Questions; Data and Sources; API access and Features; and Plans, Pricing & Payment. We are sure that this place will help you!
So, are you ready to explore the forex world with the help of Exchangr? We sure think you are! Good luck!
Related post: Should You Invest In Cryptocurrency?
Also published on Medium.