Exchange rates API FAQs

Please note, these FAQs apply only to OANDA's FX Data Services, which provides exchange rate subscriptions and other currency solutions for businesses.

Frequently asked questions

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Why choose OANDA's rates?

OANDA Rates are accurate and reliable. We have been providing Rates data for 20 years, and our rates are trusted by tax authorities, auditing firms, thousands of companies and millions of individuals globally. There are over 190 currencies and commodities, with over 38,000 pairs available. Our historical rates date back to 1990, making us the world's most comprehensive FX data provider.

Our rates are easy to use/implement into your system. Our automated FX data feed plugs OANDA® Rates and our historical currency converter directly into your ERP or proprietary system.

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How are OANDA's rates calculated?

The exchange rates provided by OANDA are averages from the global foreign exchange market gathered from frequently updated sources, including our OANDA fxTrade currency trading platform, leading market data vendors, and contributing financial institutions. Most of our rates are based on tens of thousands of different price points, collected every tick, every second, 24 hours a day, 365 days a year. Our state-of-the-art technology then validates rates and detects/filters anomalies using algorithms, and calculates the average of all collected data over a 24-hour period to make it available to our customers.

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Do you have any partners who can help us integrate OANDA's rates data into our ERP system?

Yes. To help our customers integrate our FX rates seamlessly, we have partnered with many major ERP systems including Oracle, Microsoft Dynamics and SAP. For more information, please contact our FX integration specialists at fxdata@oanda.com

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Do you offer a free trial account?

Yes, you can start testing the OANDA API in minutes. Upon completing the Sign-up form, you will receive a free API key to access OANDA Rates. Your API key is available for 30 days and allows you to access up to 1,000 quotes during this period.

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How quickly can we integrate with the OANDA API?

Integration is almost immediate. All you need is an API key to integrate. We have even built a way in which you can test drive our API via an easy-to-use query builder.

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Why are OANDA's rates different from other sources?

OANDA's FX rates are derived from constantly updating sources, including our OANDA fxTrade currency trading platform, leading market data vendors, and contributing financial institutions. FX is an over-the-counter (OTC) market, which means that OTC contracts are not executed and cleared on a central exchange as you find for stocks, futures and other listed instruments. This means that the source and quality of FX rates can vary widely between data providers. OANDA's rates might differ from other data providers, as they may make use of a single source or non-tradable rates. OANDA offers actually traded foreign exchange prices to our clients and is recognised globally as the standard for accurate FX data.

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Do you have a developers portal where I can find details about the OANDA API?

You can find the API documentation here.

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At what time do you publish the latest rates?

The exchange rate data is updated at 00:00 UTC. However, we also offer 96 fixings points daily, allowing you to customise your reporting period. For more information on how this works, please contact us.

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We have subscribed to the OANDA standard plan. How can I check the number of quotes remaining?

You can check your API usage any time at your convenience using our query builder page. Please have your API key information ready.

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What type of support does OANDA provide to clients?

OANDA has a professional sales team and operations staff, whose goal is to reduce pain points. Support is available on the phone and via email to customise your individual business needs.

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What kind of API subscription plans do you offer?

We offer flexible plans to meet your FX data needs. Please see our subscription plan and pricing page for details.

Standard

  • $400/month or $4,500/year (save $300)
  • OANDA Rates + ECB (European Central Bank) rates
  • 100,000 quotes per month
  • Standard email support

Advanced

  • $750/month or $8,500/year (save $500)
  • OANDA Rates + 40 Central Bank Rates including ECB rates
  • Unlimited quotes
  • Dedicated customer support
  • Two free seats for our historical currency converter app for spot checking, spreadsheet analysis, and rates on the go (unlimited access)

If our standard plans do not quite fit your needs, our team of experts will develop a custom plan for your company. Please contact us.

FAQ Help Portal

Get answers to frequently asked questions about our Exchange Rates API, Historical Currency Converter, FX payments and more.

Currency services FAQs

Learn about our range of services, including chargeable services such as the multi-seat historical exchange rates API and more.

Questions about OANDA Rates?

Get answers to commonly-asked questions about the OANDA Rates service, how we calculate our rates, subscriptions and more.