Why You Need A FIX API For Forex Trading

Why You Need A FIX API For Forex Trading

Forex (foreign exchange) trading has experienced a great change from the past to the present. The biggest factor in this is the development of technology and the intertwining of the forex trading field with technology. The time and effort spent in forex trading transactions have been reduced to seconds, with many trading platforms where we can make these transactions. These trading platforms provide their users with financial data and transactions made with this data in many sources with FIX API forex. It is also called the forex exchange rates API in many sources.

FIX API forex provides financial data to its users in accordance with the FIX protocol determined by the FIX Trading Community. FIX community sets criteria and rules. For this reason, businesses such as the electronic trading industry use this API, where data accuracy is important. Let’s talk about the advantages and usage areas of FIX API forex.

What Are The Advantages Of Using The FIX API Forex?

This API provides many advantages to businesses and developers as it has an electronic communications protocol and provides real-time data. Some of them are as follows:

Fast and secure communication: FIX API forex guarantees fast and secure transmission of financial data. In this way, users can be aware of instant price movements and make transactions quickly. Additionally, it allows businesses and developers to create crafting trading strategies.

Data accuracy: Another advantage is the accuracy of the data provided by this API. This API prevents users from harming others by providing data with very high accuracy.

High efficiency with automated processes: FIX API forex updates the data provided by it in a short time. Users using this API also automatically obtain data from this API and achieve high efficiency with the most up-to-date data.

What Are The Use Cases Of FIX API?

The FIX API with the electronic communications protocol appears in many applications today. So, instead of scraping data from third-party programs, businesses can directly obtain financial data with the high-speed connection of the FIX API.

Some platforms that FIX API forex use today are as follows.

Trading platforms: The FIX API is often used to trade financial markets. Trading platforms, in particular, can use the FIX API to professionally serve their professional traders and speed up their transactions by automating them.

Risk management platforms: Risk management platforms can use the FIX API. These companies can track financial risk data with this API and better serve their customers.

Analytics and research platforms: Various analytics platforms can prefer the FIX API to analyze and research financial data. In this way, investors can make better investment decisions by monitoring market trends and price movements.

Fixer API: The Most Popular Financial Information Exchange API

fixer API homepage

Fixer offers today’s most popular FIX API in accordance with the FIX protocol. It provides services to more than 200,000 developers and businesses such as Microsoft, Bershka, and Kranken with its FIX API solution.

The FIX API access is crucial for traders to execute their transactions efficiently and securely. Therefore, Fixer provides a web service that provides extremely secure and fast data to its users.

Fixer API gets the data it provides from official exchange or market servers. For example, it obtains from financial data providers and even from various banks, especially the European Central Bank.

One of the most important features that distinguish Fixer API from other FIX APIs is that it provides historical market data. It provides historical market data up to January 1, 1999, of the forex data of 170 official currencies it provides. In this way, users using this API can use both live and historical data of 170 currencies in the applications they host on their own trading servers.

Finally, Fixer API, which provides real-time communication, cannot provide data that appeals only to experienced traders today. It aims to appeal to all traders with its unique documentation and various available endpoints.

What Are The Sample Code Integrations That Fixer API Provides?

Fixer API can be easily integrated into every popular programming language today. Such as Golang, PHP, JavaScript, Node.js, C#, C++, and Java programming languages.

In this section, we will see code examples of Fixer API’s PHP and JavaScript programming languages.

PHP

// set API Endpoint and API key
$endpoint = 'latest';
$access_key = 'API_KEY';

// Initialize CURL:
$ch = curl_init('https://data.fixer.io/api/'.$endpoint.'?access_key='.$access_key.'');
curl_setopt($ch, CURLOPT_RETURNTRANSFER, true);

// Store the data:
$json = curl_exec($ch);
curl_close($ch);

// Decode JSON response:
$exchangeRates = json_decode($json, true);

// Access the exchange rate values, e.g. GBP:
echo $exchangeRates['rates']['GBP'];

JavaScript

// set endpoint and your access key
endpoint = 'latest'
access_key = 'API_KEY';

// get the most recent exchange rates via the "latest" endpoint:
$.ajax({
    url: 'https://data.fixer.io/api/' + endpoint + '?access_key=' + access_key,
    dataType: 'jsonp',
    success: function(json) {

        // exchange rata data is stored in json.rates
        alert(json.rates.GBP);

        // base currency is stored in json.base
        alert(json.base);

        // timestamp can be accessed in json.timestamp
        alert(json.timestamp);

    }
});

An example of the JSON output provided by the Fixer API is as follows.

an example JSON response of the fixer API

Conclusion

To summarize, FIX APIs, which we see frequently in trading platforms, are of great importance today. Especially with FIX APIs with FIX protocol, businesses provide a safe and fast experience to their users.

Use today’s most popular FIX API and provide both current and historical market data to its users. Plus, do it for free.

FAQs

Q: What is the FIX API (Application Programming Interface) forex?

A: FIX API (Application Programming Interface) is an API developed for businesses trading in Forex markets. It provides instant values and even conversions of trade-related data. For example, Fixer API, Exchange rates API, and Open Exchange Rates API are a few of them.

Q: How does the forex exchange rates API work?

A: Forex exchange rates API was developed to provide fast and up-to-date international currency information that businesses need. This API obtains the data it provides from official financial institutions.

Q: What are the FIX APIs that provide historical data?

A: There are many FIX APIs available today but only some of them provide historical data. The most popular FIX APIs that also provide historical data are:

  • Fixer API
  • Exchange rates API
  • Currencylayer API
  • Open Exchange Rates API

Q: What is the FIX (Financial Information eXchange) protocol?

A: FIX (Financial Information eXchange) is an accepted protocol used in financial markets. Also known as FIX protocol Ltd. The FIX protocol enables investors and service providers to communicate with each other, allowing for faster, safer, and more efficient transactions in financial markets. FIX messaging protocol includes versions and the latest version is 5.0 and FIX messages support multiple brokers. Such as forex brokers and prime brokers.

How To Choose The Best Forex Exchange Rates API

How To Choose The Best Forex Exchange Rates API

Nowadays, many applications use currencies for their transactions, such as currency conversions, trading applications, and forex analysis applications in e-commerce applications. These applications, which contain transactions related to currencies, use the forex exchange rates API to serve their users. Even many applications use the free exchange rate API for free.

Forex exchange rates API provides foreign exchange rate data to applications. This API enables applications to handle all forex transactions with a single API request. But should applications be careful when choosing the forex exchange rates API? Definitely yes. So what a good forex exchange rates API should be; let’s look at this and more.

How Should The Forex Exchange Rates API Be?

Businesses or developers should carefully choose a forex exchange rates API. For example, an API that provides erroneous data can cause great financial damage to businesses in the long run. Or any forex exchange rates API that gives timeouts frequently during the day may create dissatisfaction among the users of the businesses.

Some points to consider when choosing a forex exchange rates API are as follows.

FIX protocol: Your forex exchange rates API should support the FIX (Financial Information eXchange) protocol. The FIX protocol is a protocol that establishes standards for currency data used in trading applications in modern times. The FIX Trading Community determines this protocol. Thanks to this protocol, users can safely transact with forex data.

Reliable data: The accuracy of the data provided by this API is another important consideration. Inaccurate or outdated data can put businesses in a difficult position. Therefore, this API should get its data from official financial data providers like the European central bank.

High availability: Availability is a very important point for this API. Businesses that use APIs that frequently fail or time out may face major problems such as financial, legal, and user loss. This API should come with guaranteed availability.

Extensive documentation: Finally, a forex exchange rates API should provide detailed API documentation. In the documentation it provides, it should mention many details, such as API requests, parameters, and integration codes. In addition, it should provide regularly updated documentation.

Free Exchange Rates API To Get Foreign Exchange Rate Data: Fixer API

Fixer is the most popular currency API in the market that supports the FIX protocol. This currency API is popular because it provides almost all currency-related transactions with separate endpoints, such as currency conversion, the latest exchange rate data, and historical exchange rates.

It provides data for over 170 currencies in JSON format in seconds. The accuracy of the data it provides is quite high. It obtains the data it provides from financial data providers and official central banks such as the European central bank. For this reason, it offers reliable JSON API.

It is an easy-to-use API. Thanks to its straightforward API structure, it can be easily integrated into many programming languages. The powerful documentation it provides includes API request examples for all available endpoints.

What Are Some Available Endpoints In The Fixer API?

Fixer API provides multiple endpoints to serve its users on almost currency-related issues. Details of these endpoints are in the comprehensive documentation. In this section, we will touch on the content of some endpoints.

Historical foreign exchange rates endpoint

This endpoint provides historical exchange rates for 170 currencies up to January 1, 1999.

details of the historical foreign exchange rates endpoint in the fixer API

Latest rates endpoint

This endpoint is the endpoint provided by the latest exchange rate data. Provides live data in seconds.

details of the latest rates endpoint in the fixer API

Convert endpoint

Endpoint where currency conversion is provided. It provides a detailed JSON response of currency conservion.

details of the convert endpoint in the fixer API

Conclusion

The number of applications using currency exchange APIs has increased in this modern financial era. Although these APIs are straightforward, choosing a perfect API is critical today. Many factors, such as the accuracy of the data provided by the API, response time, and support for the FIX protocol, should be considered when choosing the best Forex Exchange Rates API.

Register to today’s most reliable and most used forex exchange rates API. Provide a fast and reliable service to your users.

FAQs

Q: Is an API key required to use the free exchange rate API?

A: Yes, it is. It is necessary to get an API key to have the free plan of many exchange rate APIs in the market. However, free plans are recommended to be used during development. It is recommended that you have a paid package for your products in a commercial or production environment.

Q: What should be considered when choosing forex exchange rates API?

There are many things to consider when choosing a forex exchange rates API. Some of those:

  • Comply with FIX protocol
  • Number of currencies supported
  • Providing historical data
  • The security of the data it provides

Q: What does the forex exchange rates API provide?

A: A forex exchange rates API provides financial data to its users. The financial data it provides may include live values of currencies, rates to each other, time series, data, and historical data.

Q: Is the accuracy of the data provided by the forex exchange rates API used in trading platforms important?

A: Yes, it is quite important. In particular, if the accuracy of the data provided by a forex exchange rates API to be used in trading platforms is not high, investors may trade with incorrect data. In this case, investors may suffer losses. Then, investors can take legal action against the platform.

Exploring The Benefits Of Open Exchange Rates API For Businesses

Exploring The Benefits Of Open Exchange Rates API For Businesses

You must have seen that many e-commerce businesses providing international services support multiple currencies. You may even have seen that international trade applications support more than one currency. So, have you ever thought about how these apps provide accuracy while supporting multiple currencies? These businesses can make instant conversions between the currency data they provide. They convert currencies with exchange rates API that provides accurate conversion. In this way, businesses ensure the accuracy of the currencies they provide with this API. In addition, many businesses use the open exchange rates API for free.

The use of the open exchange rates API continues to increase. With this API, businesses can obtain the latest exchange rate data and any data related to currency rates. A currency exchange API generally provides historical data to meet multiple needs. In this article, we’ll get to know the API that businesses and developers prefer the most. Then we will mention the advantages of use.

Fixer API: Most Popular Exchange Rates API

Fixer API is the most popular currency data API providing foreign exchange rate data. Today, hundreds of thousands of developers and businesses prefer this API because it meets many needs.

First of all, the Fixer API aims to keep the accuracy of the data it provides at the highest level. It obtains the exchange rate data of 170 currencies from reliable financial sources. Chief among these is the European Central Bank.

The Fixer API also provides currency conversion among 170 currencies from trusted sources. The most accurate conversion can be done with this API.

Another reason why businesses prefer this API is guaranteed availability. Having high availability infrastructure, Fixer API offers its users high availability and minimum downtime. It also provides data for hundreds of currencies in just seconds.

Available Endpoints

The Fixer API provides its users with multiple endpoints related to currencies. These Fixer API endpoints have been developed to meet all kinds of needs that may arise in businesses. The available endpoints provided by the Fixer API and their brief descriptions are as follows.

Latest rates endpoint: This endpoint provides real-time exchange rate data for 170 currencies.

Convert endpoint: It is an endpoint that enables conversion from one currency to more than one currency.

Historical rates endpoint: This endpoint of the Fixer API provides historical foreign exchange data for the desired currencies. The historical data provided by this endpoint is frequently used by many trading applications today.

Time-Series data endpoint: This endpoint provides time series data of specific currencies.

Fluctuation data endpoint: This endpoint provides fluctuation data of a currency between specified dates.

Integration for Developers

The reliable JSON API provided by Fixer can be integrated into many programming languages today in just a few steps. Also, the Fixer API is an easy-to-use API. It responds quickly and is flexible. Therefore, you do not need to make any changes in the development environment.

Finally, you will need an API key to integrate and use this API in your project. In the next topic, we will look at the subscription plans of the Fixer API in order to obtain this API key.

What are the Fixer Currency API Subscription Plans?

Fixer API has flexible and affordable subscription plans. There is even a free option among them. Fixer API aims to appeal to every budget and every project.

The free subscription plan is limited to 100 requests per month. The paid starter plan provides 10,000 requests per month and costs just $14.99. The most comprehensive package, the enterprise plan, is $99.99 for 500,000 requests per month.

Apart from these, it is possible to create a custom plan with Fixer API. It is enough to just contact and forward your request.

What are the Benefits of Using Exchange Rates API For Businesses?

Fixer API: retrieve exchange rate data

There are many advantages and conveniences that exchange rates APIs provide to businesses. First of all, businesses do not have to make any development for currency data. They can easily obtain the data they want with a single API request.

Some benefits of using exchange rate APIs for businesses are as follows.

Accurate Exchange Rate Data From Financial Data Providers

Many exchange rate APIs, such as the Fixer API, obtain the data they provide from reliable financial institutions. In this way, businesses do not have to worry about the data they obtain and can easily use it. With the right data provided by businesses, businesses can increase the satisfaction of their customers.

Better Customer Experience

Companies that engage in international e-commerce can use the API to provide customers with real-time exchange rates. This helps customers make informed purchasing decisions and provides a better user experience.

Improving Trading Strategy

Businesses can improve their trading strategies with the data these APIs provide. For example, businesses that take and place instant orders can easily track the currencies of the countries they will order from. They can even follow a strategy by looking at historical data of their currencies.

Conclusion

With the instant accurate exchange rate data provided by many open exchange APIs such as the Fixer API, businesses can grow rapidly. Thanks to these APIs, businesses increase the satisfaction of their customers and can provide organic traffic.

Join more than 200,000 developers and businesses. Enjoy all the benefits.

FAQs

Q: What is the frequency of exchange rate updates in the Fixer API?

A: The frequency of exchange rate updates in Fixer API depends on the API plan you have subscribed to. Some API plans provide exchange rate data updated every hour, while others provide data updated every minute.

Q: What is the pricing for the Fixer API?

A: The pricing for the Fixer API varies based on the API plan you choose. Also, this API supports free service. The free plan provides 100 requests per month. The paid plans provide more frequent updates and additional features. The pricing for the paid plans starts at $14.99 per month and goes up to $99.99 per month based on the number of API calls.

Q: How can I get support for the Fixer API?

A: The Fixer API provides quick tech support through various channels, including email, online comprehensive documentation, and a support center. You can also reach out to the support team for any questions or issues you may have with the API such as integration support. You can find code examples in the detailed API documentation.

Q: How accurate is the exchange rate data provided by the Fixer API?

A: The exchange rate data provided by the Fixer API is highly accurate and is sourced from financial data providers like central banks and European Central Bank. The API uses multiple sources to provide the most reliable exchange rate data possible. However, exchange rates can change quickly, and there may be some discrepancies in the data due to the time it takes to process and update the data.

How To Monitor Currency Fluctuations Using Open Exchange Rates API

How To Monitor Currency Fluctuations Using Open Exchange Rates API

From the past to the present, it has become increasingly easier for people to follow the exchange rates or make currency conversions between them. Previously, we used to perform transactions related to exchange rates only in financial centers or bank branches. Today, we can do these transactions in digital environments. And in just milliseconds. The web service that provides this service to us in digital environments is the exchange rates API. Also, free and open source ones are known as open exchange rates API.

Exchange rates API is a web service that provides the latest exchange rates and obtains them from a reliable data source. This API usually also provides a currency conversion service. That’s why we can also call it currency API. It helps with almost anything a business or developer may need regarding the exchange rate. In this article, we will first discuss the importance of exchange rate data provided by the exchange rates API. Then we will recognize and integrate the most popular exchange rates API today.

What is the Importance of the Exchange Rate Data?

The exchange rate data is important for a number of reasons:

  • International Trade: Exchange rate data is critical for any business today. It helps businesses make informed decisions about pricing and purchasing. It is involved in international trade as it helps them determine the cost of goods in different currencies.
  • Monetary Policy: Central banks and government agencies use it to monitor the strength of currencies relative to other currencies. Then, they determine their monetary policy decisions according to the exchange rate data they obtain.
  • Currency Conversion: Exchange rate data is also used for currency conversion purposes. Individuals and businesses often need to convert their currency to another currency for various reasons. Exchange rate data helps them determine the value of their money in another currency.

Fixer API: Best Open Exchange Rates API to Get Currency Exchange Rates

home page of the Fixer exchange rates API

Fixer API is a free, open-source, and easy-to-use API that provides exchange rate data for 170 currencies. It is one of the popular open exchange rates APIs in the market. Tens of thousands of developers actively use it.

First of all, one of the most important reasons why developers prefer this API is that it provides accurate exchange rate data. Fixer API obtains the data it provides from reliable data sources such as the European Central Bank. In this way, the accuracy of the exchange rate data provided by this API is guaranteed.

170 official currency data provided by Fixer API is updated every 60 seconds. In this way, users can make transactions with the most up-to-date data.

This API has been developed so that developers can easily implement it into their projects. It has basic usage and can be used with most languages. Java, .Net, JavaScript, Php, and Python are just a few of them.

What are the Available Endpoints of the Fixer API?

Fixer API, today’s most preferred exchange rates API, offers many endpoints to its users. Among the endpoints it offers, there are services that many businesses may need, such as historical and fluctuation data.

The available endpoints provided by the Fixer API are as follows.

available endpoints under the Fixer API

Integration Fixer API to Retrieve Currency Fluctuations

Fixer API can be easily integrated into many programming languages. In this section, we will integrate fluctuation data endpoint, one of the most preferred endpoints of the Fixer API, into Python.

Before developing this application, make sure you have an API key to use Fixer API endpoints. Also should have Python installed on your computer.

First, let’s create a file named ‘fixer-api.py‘ on the desktop. Then let’s open this file in a code editor and paste the following codes into it.

import requests

url = "http://data.fixer.io/api/fluctuation?access_key=YOUR_API_KEY&start_date=2015-02-25&end_date=2015-02-26"

payload={}
headers = {}

response = requests.request("GET", url, headers=headers, data=payload)

print(response.text)

With this snippet, we will request the ‘/fluctuation’ endpoint of the Fixer API. Let’s run the application with the following command.

python fixer-api.py

Finally, seconds after running the application, we will see the following output in the console of the application.

{
    "success":true,
    "fluctuation":true,
    "start_date":"2018-02-25",
    "end_date":"2018-02-26",
    "base":"EUR",
    "rates":{
        "USD":{
            "start_rate":1.228952,
            "end_rate":1.232735,
            "change":0.0038,
            "change_pct":0.3078
        },
        "JPY":{
            "start_rate":131.587611,
            "end_rate":131.651142,
            "change":0.0635,
            "change_pct":0.0483
        },
        [...]
    }
}

API Requests for Some Other Available Endpoints in the Open Exchange Rates API

Now let’s try some other endpoints of the Fixer API as an example. In this section, we will update only the ‘url’ part of the code field.

Latest Rates Endpoint

The latest rates endpoint shows the most recent values between currencies. It is quite simple to implement and use. Depending on the subscription plan, the time the exchange rate data is updated varies.

url = "http://data.fixer.io/api/latest?access_key=YOUR_API_KEY&symbols=GBP,JPY,USD"

Let’s run the application after updating the ‘url’ field as above.

{
    "success": true,
    "timestamp": 1676473744,
    "base": "EUR",
    "date": "2023-02-15",
    "rates": {
        "GBP": 0.890154,
        "JPY": 143.255379,
        "USD": 1.0676
    }
}

Historical Rates Endpoint

The historical rates endpoint provides the historical values of a currency. Today, applications that provide trading transactions are frequently preferred. Thanks to historical data, users can shape their investment plans.

To test this endpoint, let’s update the ‘url’ field as follows.

url = "http://data.fixer.io/api/2013-12-24?access_key=YOUR_API_KEY&base=GBP&symbols=USD,CAD,EUR"

Finally, let’s run the application and take a look at the output.

{
    "success": true,
    "historical": true,
    "date": "2013-12-24",
    "timestamp": 1387929599,
    "base": "GBP",
    "rates": {
        "USD": 1.636492,
        "EUR": 1.196476,
        "CAD": 1.739516
    }
}

Conclusion

To summarize, Fixer API is a powerful tool that can help you track and analyze currency movements in real time. Through the use of Fixer API, you can stay on top of currency fluctuations, and make informed decisions.

Register to Fixer API and minimize the risks associated with foreign exchange.

FAQs

Q: Is Fixer API free to use?
A: Fixer, open exchange rates API, offers both free and paid plans. The free plan provides 100 requests per month. You can choose a plan that suits your needs and budget.

Q: How secure is Fixer API?
A: Fixer API is secure and uses SSL encryption to protect the data transmitted between the API and the user. The API also uses secure servers to store the exchange rate data, ensuring that the data is protected from unauthorized access.

Q: Can I use Fixer API to convert one currency to another?
A: Yes, you can use Fixer API to convert one currency to another. By retrieving the exchange rate data for the desired currencies, you can calculate the equivalent amount in another currency.

Q: Does Fixer API provide real-time exchange rate data?
A: The exchange rate data provided by Fixer API is close to real-time, with a slight delay in processing and updating the data. The frequency of exchange rate updates exchanges rate data is updated every minute.

Q: Is there a free exchange rate API?
A: Yes, there are many free exchange rate APIs available in the market. The most popular ones are Fixer API, Exchange Rates API, and Currency Layer API.

Q: Which API is best for exchange rates?
A: Fixer API is the best choice for exchange rates as it provides real-time and historical exchange rate data for over 170 currencies. Firstly, it is quite simple to use. It also offers features like currency conversion and time series data.

Q: What is the open exchange rate?
A: Open Exchange Rates is a service that provides exchange rate data for currencies. It can provide this data for multiple currencies. Finally, it gives developers access to accurate and up-to-date exchange rates.

Currency Conversions Made Easy With This Free API

Currency Conversions Made Easy With This Free API

Currency API is one of the most important products of the technology era. It is the most basic way of obtaining currency data. Moreover, access to this service is free. API for currency conversion free is mostly preferred by businesses and developers. Businesses and developers using the free currency API often provide their users with a unique experience and time savings.

The exchange rate information provided by the free currency API has guided many businesses. In addition, it directly impacts the functional growth of many businesses. In this article, we will talk about the importance of the currency API, and then we will perform a code integration with the API.

What is the Importance of Using Currency API?

A currency API that businesses and developers use doesn’t just provide currency data or exchange rates. They were developed to provide more. This API directly increases efficiency and accuracy. As a result, time and money can be saved.

Businesses that prefer this API can offer real-time currency conversion with the provided currency data. And at high speed. There are also many ways to use the currency API.

Here are some advantages of using the currency API:

Real-time Exchange Rates

First of all, an exchange rates API provides up-to-date exchange rates. Thus, users using this data can make informed decisions about foreign exchange transactions.

Automation

With an exchange rates API, exchange rate information can be automatically retrieved and integrated into applications. This allows automating transactions to be made with exchange rate information.

Historical Foreign Exchange Rates

This is a very important service that almost all of these APIs provide. With historical foreign exchange rates, businesses offer multiple services to their users at the same time with historical rates. Obtaining exchange rate information on a specific date with API requests is a pretty quick step.

Guaranteed Availability

An exchange rates API allows businesses and individuals to access exchange rate information from anywhere in the world. The high availability of real-time and historical rates is an important criterion for businesses.

Cost-effectiveness

Lastly, the API can save businesses money by reducing the need for manual data entry. In addition, the cost can be minimized by choosing a free service for exchange rates from the market. A free service is usually suitable for the development phase.

The fixer Currency API for Currency Conversion Free

The fixer API is the best free currency converter API that we can obtain exchange rate data among many web services. So, big companies like Microsoft, Bershka, Samsung, and Kranken use the API to retrieve exchange rate data.

First of all, the most important feature of this currency converter API is that it provides accurate rates. The fixer API obtains the exchange rates information it provides from important financial data providers such as European Central Bank.

This API provides real time exchange rate data for 170 official currencies around the world. Besides, this exchange rate data is updated every minute. In this way, businesses using this currency converter API will have the most up-to-date and accurate exchange rates.

In addition to all these, another thing that makes the fixer API stand out from other currency converter APIs is fast support. Thanks to fast support, developers and users who need support about this API can get support quickly. In addition to other currency converter APIs, the fixer API promises a comfortable use with advanced features such as maximum high uptime and constantly monitored.

What are the Available API Endpoints in the fixer API?

fixer API: multiple flexible enpoints

The fixer API provides users with multiple endpoints, each more useful than the other. Time series data, historical rates, and the latest rates are just a few of them. It is possible to access these API endpoints and their details from the API documentation.

What are the Potential Errors while Retrieving Exchange Rate Data in the fixer API?

First of all, one of the biggest problems in the integration processes of an API into the code is the error handling process. The response the fixer API provides in case of an error is pretty self-explanatory. Error code and error message are in the same context.

An example error message from fixer API:

{
  "success": false,
  "error": {
    "code": 104,
    "info": "Your monthly API request volume has been reached. Please upgrade your plan."
  }
}

The fixer API’s error codes and their explanation are as follows.

error handling is easy with fixer API

Integration of Free Currency Conservion API in PHP

In this section, we will integrate the free currency conversion API provided by the fixer into the PHP programming language. We need an API key to use the free currency conversion API. To get this API key, let’s sign up for one of the flexible subscription plans provided by the fixer.

Now we are ready to integrate the fixer reliable JSON API into the code. We will create a PHP project and paste the following codes into the project we have created.

$ch = curl_init('https://data.fixer.io/api/timeseries?access_key=API_KEY&start_date=2012-05-01&end_date=2012-05-25');
curl_setopt($ch, CURLOPT_RETURNTRANSFER, true);

$json = curl_exec($ch);
curl_close($ch);

$fluctionResult = json_decode($json, true);

echo $fluctionResult['result'];

With this code, we will obtain the time series data between the dates we have set. The response we will get after running the application is as follows:

{
    "success": true,
    "timeseries": true,
    "start_date": "2012-05-01",
    "end_date": "2012-05-25",
    "base": "EUR",
    "rates": {
        "2012-05-01":{
          "USD": 1.322891,
          "AUD": 1.278047,
          "CAD": 1.302303
        },
        "2012-05-02": {
          "USD": 1.315066,
          "AUD": 1.274202,
          "CAD": 1.299083
        },
        "2012-05-03": {
          "USD": 1.314491,
          "AUD": 1.280135,
          "CAD": 1.296868
        },
        [...]
    }
}

Historical Currency Data

Now we will get historical data using fixer’s free currency conversion API. Let’s update the relevant part of the code we created with the following code and run it.

$ch = curl_init('https://data.fixer.io/api/2013-12-24?access_key=API_KEY&base=GBP&symbols=USD,CAD,EUR');

Then, we have obtained the following historical data as the response of the fixer API service.

{
    "success": true,
    "historical": true,
    "date": "2013-12-24",
    "timestamp": 1387929599,
    "base": "GBP",
    "rates": {
        "USD": 1.636492,
        "EUR": 1.196476,
        "CAD": 1.739516
    }
}

Convert Endpoint

We can convert currencies with the fixer API that provides data from European Central Bank easily. For this, let’s just update the query.

$ch = curl_init('https://data.fixer.io/api/convert?access_key=API_KEY
&from=EUR&to=GBP&amount=2');

We quickly carried out the conversion process from EUR currency to GBP currency in the amount we determined. As a result, the response we got is as follows.

{
    "success": true,
    "query": {
        "from": "EUR",
        "to": "GBP",
        "amount": 2
    },
    "info": {
        "timestamp": 1675182663,
        "rate": 0.8832002
    },
    "historical": ""
    "date": "2023-01-31"
    "result": 1.7664004
}

Supported Symbols Endpoint

Finally, we will get the symbols of the currencies on the fixer API. Let’s update and run the code as follows.

$ch = curl_init('https://data.fixer.io/api/symbols?access_key=API_KEY');

Then, some of the resulting currency symbols are as follows.

{
    "success": true,
    "symbols": {
        "AED": "United Arab Emirates Dirham",
        "AFN": "Afghan Afghani",
        "ALL": "Albanian Lek",
        "AMD": "Armenian Dram",
        "ANG": "Netherlands Antillean Guilder",
        "AOA": "Angolan Kwanza",
        "ARS": "Argentine Peso",
        "AUD": "Australian Dollar",
        "AWG": "Aruban Florin",
        "AZN": "Azerbaijani Manat",
        "BAM": "Bosnia-Herzegovina Convertible Mark",
        "BBD": "Barbadian Dollar",
        "BDT": "Bangladeshi Taka",
        "BGN": "Bulgarian Lev",
        "BHD": "Bahraini Dinar",
        "BIF": "Burundian Franc",
        "BMD": "Bermudan Dollar",
        "BND": "Brunei Dollar",
        "BOB": "Bolivian Boliviano",
        "BRL": "Brazilian Real",
        "BSD": "Bahamian Dollar",
        "BTC": "Bitcoin",
        "BTN": "Bhutanese Ngultrum",	
	[...]
	}
}

Conclusion

In conclusion, the fixer API is a powerful and reliable tool for currency conversions. If you’re a developer or a business looking for a convenient solution for your project, this is for you.

Explore the fixer API with affordable subscription plans.

FAQs

Q: Does the fixer API provide real-time exchange rates?
A: The fixer API provides real-time exchange rates.

Q: Can businesses use the fixer API for commercial purposes?
A: They can. Businesses can use paid plans for this.

Q: Does the fixer API integrate with other platforms and tools?
A: Yes, It does. The fixer API easily integrates with other platforms. It has a flexible technological infrastructure. It is fast to integrate into many of today’s popular programming languages. Java, JavaScript, Nodejs, Go, and .Net are just a few of them.

Q: How do I get started with the Fixer API?
A: To get started with the Fixer API, sign up for an account on their website, select a pricing plan, and retrieve your API key. Then, you can start making API requests to retrieve exchange rate data.