I'm trying to make an app where people can send other people money in foreign currency, similar to how PayPal has that functionality. Anyone know good APIs that show live rates, and where I can make trades with a spread near market rate
You have to deal with nightmare of regulations. You can only relatively freely transfer between few top countries. For most countries, exporting and importing money is highly regulated. And forex trading is a specific term which refers to buy and sales of currencies for few bips gain many times. So if you don’t want to confuse people, please call this as forex payment. To answer your question, https://fixer.io looks very developer friendly. For real world app, I would use ofx api. I use the site (not api) and love it.
to do a forex payemt I need to do forex trading?
Xoom which is also a PayPal company
Okay uhh there’s a lot of regulations that you’re gonna have to comply with... But you could create an account with Oanda. Even a test account will get you live data.
What kind of regulations? I made an account, but was having trouble understanding the fees they charge
Uh money transfer regulations across multiple countries? You’re going to have to spend millions of lawyers.