XM API Forex is a comprehensive web-based service for Forex trading. It can provide real-time quotes and market information for over two-thousand currencies. It offers two-way quotes, as well as historical data and technical indicators. It supports over 170 currencies and two-thousand different currencies pairs. It supports real-time spot FX exchange rate quotes, daily cross rates, intraday rates, and forward currency rates. Additionally, it provides a currency converter utility.
XM API Forex offers accurate, reliable, and stable FX data. It also provides fast exchange rate updates and allows you to integrate it into your applications. Signing up is easy and you’ll receive your API key via email. After signing up, you can use the HTTP or cURL libraries to call the API. There are free and paid plans available. The free plan allows you to access up to 250 requests per month and has high-availability infrastructure.
XM’s API is available to third-party developers, who can create bespoke trading platforms or data tools. The API is also designed to support both manual and automated trading strategies. XM has a global client base of over 5 million traders from 180 countries. It offers competitive trading costs, low minimum deposit requirements, and broad asset selection.
However, traders should be aware of limitations on API usage. Some brokers set a limit on the number of trades they can process each minute or hour. They also limit historical data. Before making use of an API, traders should verify that the limit set by their broker will allow them to execute their orders. If they exceed their limits, they might have to pay fees. Some brokers even charge a percentage of profits.
The REST API provided by FXCM uses a Websocket connection. This allows algorithmic traders and developers to build customized trading applications. The API also supports any language that supports standard HTTP. It also uses the new OAuth 2.0 specification for authentication, making integration easier and more secure.
A currency exchange API must also provide accurate and timely data. Financial markets can change in value at any moment, and it is crucial to have up-to-date data to make a good decision. Make sure to check the currency API’s compatibility with the programming language and data format you’re using. Also, look for an API with complete documentation and examples. Lastly, be sure to ask for technical support if you have questions or need assistance with the application.
APIs are the communication bridge between a broker’s trading platform and third-party applications. APIs have many useful uses, including the ability to send orders from third-party software and receive historical and live data. They can also be used to connect automated trading algorithms with a broker’s trading platform.