In this post, we have listed the best Forex exchange APIs which will help you improve productivity while saving time for your SMB!
The market has been growing at an exponential rate over the past few years. In fact, according to statistics from the US Census Bureau, there are more than 1 million businesses in the United States that have less than 50 employees.
If you are one of those SMB companies, then it’s important for you to find a way to be competitive in this challenging market.
It’s true that most SMBs don’t have the resources or experience to handle their finances on their own. However, there are some tools that can help them manage their finances better, as well as automate processes that would otherwise require a lot of time and effort.
Forex exchange APIs are one such tool that can help your business grow by automating certain tasks and helping you get access to valuable data that will help you make better decisions when it comes time to trade currencies online.
This kind of API can help you access real-time and historical data; currency rates and conversions; and more. Hence, you’ll have the information you need without spending hours searching for it.
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. 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.
3. 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.
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 Advantages And Disadvantages Of Using Currency Conversion APIs
Also published on Medium.