Are you looking to start growing in the Fintech Sector? Then a forex API is ideal for you!
If you’re looking for a way to make money, it’s vital to consider the fintech industry. The industry is a vital part of the economy. It’s constantly growing and evolving and making the world of finance more accessible to people who may have not had access to it before. Over the years, the financial technology sector has grown from $930 billion in 2008 to a massive $1.8 trillion today.
There are many ways that you can profit from this trend, and you don’t need to be a financial whiz. One of the easiest methods is using a foreign exchange (forex) API to help you get more information on the market.
With this type of tool, you can make better decisions about what trades to make. Here’s everything that you need to know about how an Forex API works and why it can be so useful.
What is a Forex API?
A forex API is an application programming interface that allows one software system to access foreign exchange rates data from another.
Why Use a Forex API?
A foreign exchange API can be used by financial professionals for displaying real time foreign exchange rate data on their websites or for building mobile apps that provide financial information to investors. It offers the following benefits:
- Eliminates duplicate entry and thus reduces errors associated with manual data entry;
- Allows users to quickly download up-to-date data;
- Can be used across multiple devices;
- Provides users with access to historical as well as real time data;
- Offers automated alerts whenever rates change beyond set parameters;
- Saves time by automating processes thereby freeing up more time for other tasks.
Use Exchangr
Exchangr is a reliable forex JSON API available for everyone. It can be used to access real-time currency exchange rates for 164 currencies, plus 8 cryptocurrencies. That’s a total of 172 world currencies!
If you want to make smart risk management decisions, you must use information gathered from multiple sources. So, Exchangr pulls real-time data from a number of commercial forex data providers, combine it algorithmically and then supply it to you. Furthermore, with this API you can access advanced features as: historical rates, switch source currency, convert single amounts, and more!
To start using Exchangr , click here and follow these simple steps:
Now you know! Start using a forex API to take on the Fintech Sector!
Related post: How Forex APIs Are Proving Their Worth In 2022
Also published on Medium.