Easy-To-Use Currency Conversion API

Introduction

Currencies are the most essential means of trade and investments. As the currency prices keep fluctuating rapidly, businesses dealing overseas for buying and selling products and services or trading in foreign exchange must remain updated with the correct currency conversion values.

Technological innovations have enabled businesses and individuals to trade and invest globally through some simple clicks. You require a reliable tool to obtain real-time currency conversion rates. Currency Conversion API is the most appropriate solution for you.

This article introduces you to an easy-to-use currency exchange API and lets you know how to make the most of it.

Currency Conversion API: Meaning

Technically, an Application Programming Interface (API) is a set of code that allows two software applications to communicate. While using an API, you send a request from a web application or server and receive a response. API for currency conversion is the point that connects with the software program to get the currency conversion value instantly.

In recent years, technology has been changing the dynamics of financial services. Today, we are part of a global village where anyone can participate in international transactions through internet-connected devices. conversion rates for various further functionalities.

Importance of Access to Currency Conversion Rates

Access to real-time currency conversion rates saves you valuable time. You may not need to shuffle through different resources to obtain the value of the other currency. Similarly, a currency converter API helps you access prices efficiently and transparently.

Accurate information on currency conversion rates helps you make informed decisions. Currency exchange API helps you access currency rates and use them as a reference feed while transferring funds and trading in the foreign exchange market. Please note that every API provider may not provide ‘trading APIs.’

How TraderMade’s Currency Exchange API is Easy-to-Use

It is impractical to ‘store’ currency conversion rates as they fluctuate in high frequency. The exchange API accelerates the conversion process. If you don’t have an API Key, you can sign in TraderMade for free to get one.

Wide-Ranging Delivery Methods

They offer reliable and accurate forex data in various delivery formats, like CSV files, Excel files, Google Sheets, REST API, WebSockets, SocketIO, or FIX. Thus, users can choose the appropriate delivery method to suit their technology needs.

Easy to Obtain Currency Conversion Data

It is simple to obtain real-time and historical currency conversion rates following some simple steps. The API helps traders, analyzers, and developers get currency conversion data.

Additional Features for Convenience

They offer an Excel add-on to get historical OHLC data for the desired currency pair and time frame into MS Excel. Users can leverage endpoint exchanges to get live and previous currency conversion rates at the tick level. You can verify the market open or close status using an API endpoint.

Excellent Learning Resources

The recognized data vendor offers comprehensive documentation with numerous examples and tutorials to obtain forex market data using various popular programming languages.

Exceptional Support

The data providers provide unmatched technical support for integration and resolving technical issues. Users can get in touch with their market data experts through email and live chat.

Developers can integrate the currency rate API into their applications and websites to add conversion rate retrieval features. So, how do these APIs empower applications and websites? The applications and websites integrated with exchange API can be used for currency conversion, currency trading, and many other functions.

Why Currency Converter API

As discussed earlier, it most accurate saves you time and resources to get currency exchange rates. These rates are updated every second. Thus, it helps execute international fund transfers and trade foreign currencies conveniently.

Here are a few other significant benefits of using API for currency conversion:

Accuracy and Reliability

If your business deals with international marketplaces regularly, exchange APIs help you obtain real-time currency conversion rates updated in sub-second. You get an accurate currency conversion data feed that enables you to make informed business decisions and trades.

Supports Multiple Currencies

The live currency conversion API supports hundreds of currency pairs. Thus, users can instantly get the value of several other currencies in their original, local currency. This feature helps you to deal with procurements from various countries.

You can make informed business decisions by transferring funds at the right time to save on unnecessary expenses. Similarly, you can trade forex and run your business in various global markets.

Aggregated Data Feed

Globally recognized market data vendors source forex data from various reliable banks, institutions, and broker-dealer networks, and aggregate the information, to provide it in real-time. Thus, users don’t need to worry about the quality and accuracy of the currency conversion rates.

Security and Performance

Reputed data vendors ensure the security of the data APIs they provide through SSL encryption and other technical measures. Similarly, the currency converter for websites and apps runs quickly and flawlessly. You can always expect splendid performance and excellent security.

How Currency Rate API Helps Businesses

Recognized data vendors have a robust API infrastructure. Your business benefits from the reliability and accuracy of the exchange APIs they provide. It is practical to execute tens of API requests every second to get accurate and reliable currency conversion rates every time.

A reliable currency converter API ensures you can use it as a reference feed and make informed trading decisions.

Similarly, fintech companies can integrate the currency rate API into their trading platforms (the api itself can’t be used for trading directly but can aid in the process), websites, applications, and charting solutions to add data retrieval features.

The Bottom Line

Reputed data vendors offer aggregated, unbiased, and accurate market data. Rely on them for currency conversion API, and always make informed business decisions.