Best Forex Historical Data Feeds, Databases & Datasets

Forex Data Explained

Attributes found in Forex Data

Usually, the attributes of forex data include basic information such as the name of the currency being traded, the countries using that currency, how much is being traded, the current value of the currency, as well as its historical valuations and predicted future value. These basic attributes help investors make better decisions on their next forex trade.

Use Cases

Forex data is used mainly by traders to make a more informed trade decision that generates profit. They can avoid unwise decisions made in forex trades historically, which is recorded in forex databases. Instead, the data can increase the likelihood that they invest their money in assets that are more likely to be successful.

Another use case for forex data is for general reporting on the foreign exchange by news outlets and financial journalists. It’s important that people writing about forex trends have reliable information to quote in their articles. As such, many will rely on a robust forex API which is independently verified and updated in real-time.

What is Forex Data analysis?

Forex data analysis entails evaluating which currency over a given period of time is likely to be stronger within a currency pair. This information can then be used by forex traders to buy the currency they expect to increase in value or to sell the currency they believe will decrease in value.

A number of sources will be analyzed by forex traders. These involve certain key factors, such as the state of the economies of different nations, the price of related resources such as oil, or any major news events that influence international economics.

Technical considerations, such as historical forex data like the currency’s recent price history compared to its historical averages, are also considered.

How can I get real-time Forex Data?

You can get real-time forex data in different ways. The most efficient and reliable is by working with a forex data provider. These third-party sources collect financial signals from numerous sources and compile it in an accuracy-assured data product. Here are some of the sources used by Datarade’s forex data providers:

• Live news coverage that gives instant access to the currency movements in the worldwide market. There are financial TV and online networks available 24/7 providing on-the-go forex data, as well as updates on significant economic events and other forms of commercial forex datasets reports. Such coverage is a primary source for forex data providers.
• Periodic economic publications and releases. These forms of real-time data will keep you up with economic activities as reported by governmental or non-governmental organizations that have an impact on the forex market. Most periodic economic news that is essential to forex traders and data providers is released either weekly, monthly, or yearly.
• Another real-time data source is a forex trading platform designed to advise trading strategies. Many forex brokers directly provide live news feeds in their apps to give you quick and instant access to currency market events and news.

Why is historical Forex Data important?

Although there’s a lot of emphasis placed on real-time forex data, here are just a handful of reasons that historical data is important to traders and businesses:

• It provides market insight: forex data analysis of the past recorded movements of a currency or commodity will give the trader an idea of what is expected of the financial instrument.
• System development: mastery of the forex market lies in having the knowledge of what, when, and how to trade in a specific market. A statistical edge can be established for such knowledge, which is built by historical forex data analysis.
• Consistency: knowing predefined expectations from forex trades gives traders confidence and consistency. By knowing how a given trade has worked over time, it is possible to minimize unexpected losses and maintain consistency in trading.

Where can I buy Forex Data?

Data providers and vendors listed on Datarade sell Forex Data products and samples. Popular Forex Data products and datasets available on our platform are Finage Real-Time & Historical Forex Market Feeds - Global Forex Data by Finage, InfoTrie Currency Data - FOREX Data and Cryptocurrency Market Data Globally by InfoTrie, and EDI FX Option Volatility Data for Valuations, Portfolio Analytics and Risk Management | 30 Currencies and 2 Commodities | Forex Data | Daily Updates by Exchange Data International.

How can I get Forex Data?

You can get Forex Data via a range of delivery methods - the right one for you depends on your use case. For example, historical Forex Data is usually available to download in bulk and delivered using an S3 bucket. On the other hand, if your use case is time-critical, you can buy real-time Forex Data APIs, feeds and streams to download the most up-to-date intelligence.

What are similar data types to Forex Data?

Forex Data is similar to Cryptocurrency Data, Digital Asset Data, Bitcoin Price Data, and Cryptocurrency Investor Data. These data categories are commonly used for Algorithmic Trading.

What are the most common use cases for Forex Data?

The top use cases for Forex Data are Algorithmic Trading.