Are you looking for a financial API in 2022? Here, we present the top 3 to try out!
Today participating in the financial market means looking to the future. Those who participate in this market do so for both savings and investment. The financial money market says a lot about the current state of the economy and its future.
For example, knowing if a country’s currency went down or up lets you know how stable the economy is in that place. In this sense, understanding what kind of regulations govern the purchase and sale of a certain currency is necessary to participate in this business. A rigid, flexible, or hybrid stock explains the monetary policy of certain countries which also reflects the possibilities of participating there.
With this in mind, if you are a person who wants to invest, or provides advice to investors, you must have information about foreign exchange. Being able to compare actual prices currencies from all over the world, is a necessary condition to participate in this business. On the other hand, it is also important to be able to see the historical behavior of certain currencies and their fluctuation over time.
Why is it so important to take all this into account? It is very simple: in this market, those who take their task professionally can win and obtain their best results. Consequently, observing the behavior of the values of monetary units and the factors that influence the formation of said values will serve to optimize the investment. This is because you will be able to predict future behavior and from that, choose the best investment moment.
On the other hand, if you trade financial products or work advising people who want to participate in the business, you must provide reliable information. In this sense, using an API is an essential step to sharing this information with your audience. It allows you to guarantee the completeness of your service.
How does an API work?
Programmers use an API to be able to design websites and applications. This is software that is incorporated into such designs to be able to transmit information from one device to other devices wherever they are.
In this case, programmers and financial advisors need an API that contains real-time and past-time currency information. With this information, they will be able to form graphs and easily show the data to the client. In this case, we will show 3 APIs to try everything in 2022.
Exchanger
This is the true API to participate in the forex market and grow. It is a technology that updates all time and provides data on more than 170 currencies around the world. You can convert any currency to any currency with this API.
In addition, integrating it into your site will not take more than 10 minutes. It is one of the APIs that protects your security on the web. On the other hand, it collects information from the most reliable sources around the world.
Commodities-API
With Commodities-API you can get commodity pricing for items like coffee, rice, sugar, and wheat through this free public API. From a selection of more than 170 possibilities, the Commodities-API may provide data in whatever currency you want, with an accuracy of 2 decimal places. You may make 100.000 API requests each month and receive data updates every 60 seconds.
Currency and commodity prices may be converted using the same API endpoints, and any amount can be converted from one currency or commodity to another or from one currency to another. Midpoint information for all commodities and exchange currencies is available via the API. The midpoint rates are calculated using the average median bid and ask rates over a period of time.
Metals-API
With an accuracy of two decimal places and a frequency of every 60 seconds, the Metals-API API may provide real-time precious metals data through API.
For specific API calls, the Metals back end API’s design ensures high availability and response times of under 50 milliseconds. These include giving time-series and fluctuation data, as well as delivering exchange rates for precious metals and currency conversions.