Application program interface (API) is a set of routines, protocols, and tools for building software applications. For Currency Feed, it is programmed data from our server to your server directly, available in file formats which can be used by programmers to integrate to your website or software. The technology that is used by the provider to extend the API and its secured mode is extremely important as it extends direct to your own server.
An API Token is an alphanumeric code, unique to your EFOREXINDIA Account, which can be used from any system to validate your API calls. These tokens are created by incorporating the Static IP Address of your server, which you furnish to us. Thereafter, only this server can call our web service for updates (as per plan). In case of Firewalls, the IP address may alter into the secondary address and therefore these addresses (upto a max of 2) can be configured on to the Token. Paste this Token onto you server and it will start the calling process.
Our APIs are offered both in JSON and XML which are easy to code and implement. On request, we will send you the query answer format which would make things easier to understand and are understood by the majority of ERP, accounting and finance packages, including Oracle E-Business Suite, PeopleSoft, NetSuite, SAP, Agresso, and Microsoft Dynamics.
Our APIs comes in different delay modes, starting from Streaming Prices to intervals of 1,2, 5, 10 and 15 minutes. This means that depending on your choice, the update that you receive from our Web Service will be as per the plan of delay that you choose. Needless to mention, the lesser the delay, more expensive it would be due to higher band-width usage.
The version may also have limited API Requests, wherein the total number of requests a month is configured to your subscription. When you request an update for a single currency at any point of time, it is counted as one update. So if you request for 10 currencies in one go, they are counted as 10 updates. This essentially will tell you the total number of requests you can do in a month, depending on the total API requests that you have subscribed for. In our premier versions, we offer unlimited API requests which make it seamless and depends only on the delay that you have configured.
Other factors which influence the product configuration are Technical Support and Security. Technical support comes in two versions, Standard and Premium wherein for Standard it is addressed within Indian Trading Hours & resolved in 8 working hours and for Premium it is 24 Hours and resolved in 6 working hours. Product offered though HTTP as well as HTTP-S, “S” standing for secured and encrypted transmission and thus providing for reasonable guard against hacking.
HTTP-S denotes secured network. In its popular deployment on the internet, HTTPS provides authentication of the website and associated web server with which one is communicating, which protects against man-in-the-middle-attacks. Additionally, it provides bidirectional encryption of communications between a client and server, which protects against eavesdropping and tampering with or forging the contents of the communication. In practice, this provides a reasonable guarantee that one is communicating with precisely the website that one intended to communicate with (as opposed to an impostor), as well as ensuring that the contents of communications between the user and site cannot be read or forged by any third party.
‘One Hit” or ‘One Request” means an update request to the server for One currency. So everytime your server sends an updation request for one currency, it is counted on One Hit and if it does so for 10 currencies, it is 10 hits. The limited plans specify the total number of requests you can do per month , which should be in turn be calculated on the number of currencies which you need to request to find out the time interval of updation through the day. In unlimited plans, the delay is specified but not limited by the number of requests, so if you have subscribed for a plan wherein there is a delay of 2 minutes, you can actually updates all currency pairs every two minutes through the day. The scheme you chose is dependent on your requirement.
We will send an alert to the email address we have on file when you approach your monthly package level limits. Alerts are sent when you have reached 75% and then 100% of your monthly package limit.
The quotes that you see are inter-bank quotes and are not quoted from any single source but rather is a continuous process by which banks, brokers and margin houses are quoting in the interbank space depending the demand and supply. The bid/offer of these quotes change depending on domestic and international news, interest rates, government policies and a host of other factors. The volume of trade in FX Markets worldwide are also extremely and incredibly fast, given that there are no geographical boundaries and trades are mostly digital. Given that these trades are digital, quotes are given by the banks on trading terminals and clearing bourses and thus these quotes can be digitally collated. It is this data that is displayed as Composite quotes, being the best Bid and Best offer at any point of time, being filtered through Algorithms. Thus inter-bank quotes do not belong to a particular source or sources but rather emanates from the contributors on financial systems.
The API is an automated Currency Feed from our server direct to your server through a Web service which is programmed with pre-set delays. This data so received by you can then be adjusted with your margin for end rates and business. Our Live FX Terminal on the other hand can be accessed through secured password on our website and the currencies that you see there are completely Live without any delay whatsoever. The data, unlike the API cannot be downloaded on be brought to your database and can be viewed on a Read-only basis. The terminal thus is for reference to transact real time business with banks and counter-parts whereas the API is mostly used for integration with your B2C and accounting software. So while our FX Terminal is Live Data which is view only for you, the API is slightly delayed data with the Raw Data in your database.
The API is configured as per your Static IP, meaning only the server with this IP can call our Web Service for updation. Secured and Encrypted transmission is also available across the static IP and this ensures lesser risk against hacking of servers. The API can also be configured to URL instead of IP, even though we prefer the latter.
The Trial Plan is set out with a limited time frame, offering some very basic API functionalities, such as making API Requests, getting regular data updates, accessing historical data, and requesting specific currencies.
Paid Subscription Plans feature significantly higher API Request volumes and data updates as often as price action within 60 seconds, ensure secure datastreams via 256-bit HTTPS Encryption, include unlimited and prioritized technical support, and offer a variety of must-have API functionalities.
When you sign up for EforexIndia services, the initial agreement is for a one year subscription and this can only be terminated due to proven inadequate services, as explained in the agreement (agreement is extended after commercials agreed upon).
You cannot cancel your agreement prior to the agreement renewal date. Your agreement will automatically renew (unless specified otherwise) and you must notify us in writing within the time frame also specified in your agreement (typically 30 days).
Please refer to your agreement for details.
We offer multiple Delay / refresh products, the fastest of them being Streaming (price action within 60 seconds) and then with delays of 1, 2,5,10 and 15 minutes. In all these, the web service is updated at the delay time provided and not t-delay, meaning that unlike most other companies, the web service would be updated live at the specified point of delay. Thus if you have availed of a 5 minute delay, the service would be updated every 5 minutes and not 5 minute delayed quote after every 5 minutes. This effectively halves the time quotient as compared to other sites.
EforexIndia’s APIs are closely monitored across time zones and we are happy to announce that our average uptime has been in excess of 99%. However, there is no data available in this regard and the number can change significantly due to global / national technical break-down (say collapse of national internet grid) or acts of god.
All our APIs can be called security over HTTPS using SSL .How you implement secure calls depends on which protocol you use when calling our Services. If you use REST, just put HTTPS as the prefix to your URL instead of HTTP. We do not provide SOAP.
Simply select the package that you would like to avail, deciding between the delays, Limitation of API requests, Technical Support, Encryption etc and mail it to us on support@Eforexindia.com and we will be happy to quote. Once the commercials are agreed upon, we will send you the agreement, which needs to be signed and returned and the invoice as per agreement. As part of the agreement, you need to authenticate and provide us with the Static IP and other particulars which we will use to construct your token ID.
You can access the Currency Data API via any browser. So, accessing the data manually is straightforward, you don’t need to install any software or hardware. Some programming skills are required in order to access the API using HTTP protocol and a properly constructed authorization header, but the process of file responses will be explained with the Token ID information mail.
Our digital team looks into development work and can customize digital websites with transactional abilities for you, including API integration. If you have limitation of Server and IP address, we can look to provide you hosting and other support process to which would make it easier for you to focus on your work and leave the digital business to us.
Our servers are hosted in a state-of-the-art facility. We operate at well over 99.99% uptime for our site, which means you can connect to our servers consistently and effectively. We will always notify you well in advance of any planned system downtime, but we keep planned service interruptions to an absolute minimum.
All service related to our Currency Data API are handled during the following business hours: Monday to Friday 9:00 am to 5:00 pm Indian Standard Time (IST). This is Standard Support time while the Premium support is extended.
Agreements are for a one year term and are automatically extended for successive periods of one year on the anniversary of your initial service start date. Your agreement will automatically renew unless you notify us in writing 30 days prior to the end of the term of the agreement. Please refer to your agreement for details.
To avail of the API, you will need to sign an Agreement with EforexIndia on terms of use. The salient features include Non-distribution, renewal clauses, termination clauses and end use. It also authenticates your Static IP and defines the deliverables clearly, including legal recourse for non-compliance. These are drawn as per international API distribution norms and you are expected to read them closely before signing, as they are binding upon both parties.
If you are showing the inter-bank rates without any adjustment of margin on your website or E-commerce platform, it is compulsory to disclose that the rates are not Live and are delayed (mention the delay as per your plan). You can also show the last updated time as per your plan. This ensures that the users are not misled into believing that these rates are Real-time and transact accordingly.
It is Optional for you to show the source of the rates but it is recommended that you do so, as that would authenticate the rates. If you chose to disclose source, mention Source: www.EforexIndia.com
Choose the specifications that you want including the Delay, Requests, Support, Encryption etc and write to us and we would be happy to quote you for the product. Remember that the specifications that you chose can influence the pricing significantly as we value and implement all of them. As such, there can be many combinations which can come from it. However, even though our product and its features compare with the best across the globe, they are significantly cheaper than most of them and can be compared easily over the web.
No, we do not offer monthly subscriptions. Our contract policy is based on an annual subscription.
We will shut-down your service if late payment is past due for 10 days.
The Eforexindia API's system status is being closely monitored around the clock. Since every effort is made to ensure the highest possible level of consistency, we are happy to announce that our API's uptime is at around 99.9%.
Users will be automatically notified via e-mail and on their Account Dashboard once at least 75%, 90%, and 100% of their monthly API Request allowance has been reached.
Since our team is aware that data requirements may be very variable, a Subscription Plan's Request volume may be exceeded by a maximum of 20%, which means that the actual hard-limit of - e.g. - the Professional Plan is 120,000, instead of 100,000.
Please rest assured that exceeding the monthly API Request allowance will not cause any additional charges.
It depends upon the number of currencies you have chosen with time-delay combinations and can be summarized under four broad categories of Platinum, Gold, Silver and Professional and these are clearly shown on API home page.