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Forex data is data collected from the forex stock market. Traders and businesses use this data to make better decisions to generate more profit. Forex data is collected through stock market reports and predictive charts, and is compiled and presented in a Forex database. Learn more →
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Cross currency basis is an important element of currency management. To price a cross-currency product, the cross-currency basis spread has to be taken into ...
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Forex Finage offers more than 1300+ currencies in real-time & Historical Data. Forex data all in one place, so you can access our full selection of data.
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B2Broker
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B2Brоkеr offers solutions for established companies to increase and optimize their workflows and help new brоkеrs to build their businesses.
FXCM Group
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FXCM Group is a data provider offering Forex Data, Currency Data, Stock Market Data, News Data, and Alternative Data. They are headquartered in United States...
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1Forge is a data provider offering Forex Data, Cryptocurrency Data, Currency Data, Stock Quote Data, and Stock Market Data. They are headquartered in United ...
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The Ultimate Guide to Forex Data 2021

Learn everything about Forex Data. Understand data sources, popular use cases, and data quality.

What is Forex Data?

Forex data is data that is collected from the Forex market. It provides insight on what is changing in the market, where money can be made, as well as at risk of being lost. The changing of currencies and stocks also determines the exchange rate between currencies. The Forex market is considered an over the counter (OTC) approach to stock market trading.

What is forex trading and how does it work?

Forex, or foreign exchange, is a network of buyers and sellers who move currency at an agreed price between each other.

It is the means by which individuals, businesses, and central banks convert one currency into another. If, for instance, you have ever traveled overseas, then you probably have carried out a forex transaction without even realising.

Forex trading is carried out for the goal of making a profit from these transactions. Each day the amount of currency converted will make certain currencies’ price movements extremely volatile. That makes Forex attractive, creating a higher chance of high income but also increasing the risk associated with trading.

How is Forex Data collected?

Data from the Forex market is collected through various sheets online and by using software programs. When the data changes, the information on the sheet is updated. This can then change the outside currency amounts, especially the rates of exchange from one trading window to the next. As data is collected and stored, it is sorted so that the newest and most updated information in the market appears first.

What are the attributes of Forex Data?

Attributes of this data include all of the Forex information and Forex data analysis that have been taken and then put into the sheet. Usually, the attributes include basic information about the data such as the name of the company, their trading name, how much is being traded, the cost of the stock, and any other important specifics about the basic data that has been collected. These attributes provide the user of the data with a more in-depth look into the data that was collected. It can help them make better decisions overall on the next Forex trade.

What is tick data in Forex?

A tick is a difference between instantly fluctuating current price and the last quoted market price, such as the shift in price from 1.01110 to 1.01111. Tick data representation or charts are used in FOREX analysis.

Day traders dealing in Forex, bonds, or futures refer to tick charts to quickly access real-time forex data and conduct data forex analysis so that they can quickly make a trading decision. These charts provide pricing and trading activity information and use various types of criteria, such as time, volume, price range, or ticks. The tick-based charts display the shifts in currency values after the completion of a certain number of trades called ticks.

A new tick chart is drawn for time-based charts after a certain period of time, which is after a certain number of trades or ticks are completed.
For example, after 20 transactions are done, the chart draws a bar chart, and this would be called a ‘20-tick chart.’

What is Forex Data used for?

The information that is collected on Forex data is used by other traders to make a more informed trade decision that generates profit. They can avoid from some of the Forex trades that might not be doing so well, and can invest their money in assets that are more likely to be successful. Corporations also use this information to hedge their way into the market and see where they stand. This reduces the amount of risk they might have to undergo should they get into a bad trade with another company.

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 to get real-time Forex Data?

You can get real-time forex data in different ways. Here are some of the sources used by Datarade’s forex data providers:

• Live News coverage that give instant access to the currency movements in the worldwide market. There are financial TV and online networks available 24 hours a day, seven days a week that can help you with on-the-go Live Forex data like economic events and other forms of commercial forex datasets reports.
• 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 is released either weekly, monthly, or yearly.
• Another real-time data source is a forex trading platform or data provider to support your 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.

Can I get hourly Forex Data?

Yes, you can. A forex data provider is the most reliable source of hourly forex data. Check if hourly reporting is supported by your data provider. If not, you can used Datarade to search for other brokers and Forex-based platforms where you can buy hourly forex data. Other methods include using APIs to sync live data feed to your devices. That way, you can sync it to different trusted data suppliers and get hourly forex data. Some forex online platforms have commercially-available APIs that support both historical and real-time data. You can make use of these APIs on-demand, according to your time frame. You can also search for services that supply raw hourly streams of Forex data and buy data subscriptions from them.

Why is historical Forex Data important?

In many ways, historical Forex 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.

How can a user assess the quality of Forex Data?

Forex data has to be assessed in order to find out if it is quality. This means knowing where the information was collected from, but also that it is up to date. Checking the dates on the data is essential, as some of the data collected might have been from years ago. You want to stay on top of this information and having the best assesssed, most up to date information is important in the Forex trading market.

Who are the best Forex Data providers?

Finding the right Forex Data provider for you really depends on your unique use case and data requirements, including budget and geographical coverage. Popular Forex Data providers that you might want to buy Forex Data from are B2Broker, FXCM Group, 1Forge, OANDA, and Tick Data.

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 Cross Currency Basis Curve Data by FinPricing, Real-Time & Historical Forex Market Feeds by Finage, and Forex & Crypto Liquidity by B2Broker.

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 and Digital Asset Data. These data categories are commonly used for Algorithmic Trading and Forex Data analytics.

What are the most common use cases for Forex Data?

The top use cases for Forex Data are Algorithmic Trading, Currency volatility valuations, and Currency valuations.