Forex, CFD, and Crypto Data API: Benefits of Using it and How it Works.
03 November 2021
How do APIs work for Forex CFD and Crypto real-time data? How do consumer businesses benefit from API usage? It doesn't matter if a company is a startup or an established player, reliable and high-quality, real-time, and historical data is invaluable. Live rates are useful to ascertain the current market dynamics while historical rates are key to understanding market behavior and are useful for analytics.
-What is an API?
-Other examples of APIs?
-How does our data API work?
-What are the advantages of using our API?
What is an API?
An API or Application Programming Interface is a software intermediary that allows two separate applications to communicate. APIs are used in all remote computer systems and when you use something like Facebook or WhatsApp you will be using an API. An API provides a set of pre-defined commands that allow the client system and the server system to communicate in a pre-defined way so both the client and server can understand. In the example of the real-time data API and the live endpoint, it is defined in our API documentation that there is a /live endpoint and this requires the user to pass one or many instruments, the API definition then outlines how this information will be returned so it understands it.
Other examples of API?
Another great example of an API is the Google API, google had made it possible via the exposure of an API for third-party websites to use its authentication system to register for other systems, we have integrated the Google API into our research portal so it is possible to register as a user at research.tradermade.com with your Google account and gain access to the portal content.
The API market has grown exponentially over the last couple of years with the ability to assemble component content from API into a website at a fraction of the cost of creating the content in-house.
How does our data API work?
The core of our data API is the underlying data, we trap and collate FX, CFD, and Crypto sources from a range of banks, brokers, and other financial institutions and feed this also into our highly developed ticker engine. The ticker engine produces a reliable price filtering out spikes and data anomalies to provide a clean reliable source. The ticker engine then feeds into our data API and Historical Database.
When a user requests real-time data our REST service returns the data to the clients for the symbol or symbols requested in the format (SSV, CSV, or JSON) requested. Similarly, for historical data, our REST API returns data from a database that has granular data down to the tick level.
What are the advantages of using our API?
Our API to get History and real-time Forex CFD and Crypto data is an efficient, cost-effective, and reliable way to get the data you need for your business to function. Our APIs have extensive documentation and countless examples in most programming languages, we also offer first-class e-mail and live chat support to get your project up and running in no time.
We offer a free forever API allowing 1000 calls every month and if you need more calls we have multiple levels of a subscription that can be navigated both up and down as your data requirements evolve.