If you are looking to implement an API for your trading research, this article is for you!

Trading research is essential for traders to make informed decisions. It involves collecting and analyzing data on a particular asset or market to make trading decisions. Traders use trading research to track the performance of a particular market or asset over time, and to identify opportunities for profit. 

Trading research can be done manually by traders, but it is often automated using trading bots or APIs. This allows traders to collect and analyze data quickly and efficiently, without having to do the work manually. There are many different types of APIs that can be used for trading research. One of the most popular is the Coal Prices API, which allows you to access real-time futures data. This can be useful for monitoring futures price movements and predicting future trends.

A futures contract is an agreement between two parties to buy or sell an asset at a specified price at a specified date in the future. Futures contracts are used by investors to hedge against risk, and by speculators who hope to profit from price movements. Futures are traded on exchanges, and are often used by farmers and other commodity producers who want to lock in a price for their goods before they sell them.

Futures contracts are typically traded on futures exchanges, which are regulated by the Commodity Futures Trading Commission (CFTC). Futures contracts have become more popular in recent years due to their low margin requirements and high liquidity.

Commodities API

Developers can get real-time data on valued commodities through the Commodities API, which is offered by more than 10 different exchange rate data providers for commodities pricing. The API contains numerous endpoints, each of which serves a distinct purpose. The endpoint can send API requests for data on one or more currencies, data on daily changes, value conversion, and time series data for one or more currencies. It can also send API requests for the most recent commodity rate information for all or a selected subset of currencies.

Depending on the commodity you’re looking for, this API will provide you with a variety of replies. In this instance, we’re interested in finding out more about coal. The coal symbol offered by the API (COAL) can be used to look up information about it:

{"data":{"success":true,"timestamp":1683666360,"date":"2023-05-09","base":"USD","rates":{"COAL":0.008},"unit":{"COAL":"per tonne"}}}

One dollar is equal to 0.008 tonnes of coal, as you can see in the response.

All You Have To Do To Utilize It Is:

• Go to Commodities API and simply sign up, when you are done you’ll be ready to start using the API!
• Employ the different API endpoints using the symbols given by the API depending on what you are looking for.
• Once you meet your needed endpoint, make the API call by pressing the button “run” and see the results on your screen.

The Commodities-API offers data with a two-decimal place precision in more than 170 different currencies. You can perform up to 100.000 API requests each month and receive data updates every 60 seconds, depending on the subscription you choose. This API also comes with a seven-day trial period.