Not every project needs a paid API from day one. Whether you are building an MVP, a personal project, or simply evaluating providers before committing, a free forex API can get you started. But not all free tiers are created equal -- they differ significantly in request limits, update frequency, currency coverage, and restrictions. Here is how the top three free options compare.
Free Tier Comparison Table
| Feature | Exchange Rate API | Frankfurter | ExchangeRate-API |
|---|---|---|---|
| Monthly Requests | 300 | Unlimited | 1,500 |
| Update Frequency | Every 60 seconds | Once daily (~16:00 CET) | Once daily |
| Currencies | 160+ | ~30 (ECB only) | 160+ |
| Base Currency | Any currency | Any ECB currency | Any currency |
| API Key Required | Yes (Bearer token) | No | Yes (URL param) |
| HTTPS | Yes | Yes | Yes |
| CORS | Yes | Yes | Limited |
| Historical Rates | Yes | Yes (back to 1999) | Paid only |
| Official SDKs | JS, Python, PHP, React | None | None |
| Data Source | Reuters/Refinitiv interbank | European Central Bank | Multiple aggregated sources |
| Exotic Currencies | Yes (NGN, INR, BRL, etc.) | No | Yes |
| Rate Accuracy | Mid-market, no spread | ECB reference rates | Mid-market |
Detailed Reviews
Exchange Rate API
Real-time (60s updates)Exchange Rate API's free plan stands out for its real-time accuracy. While the 300 monthly request limit is lower than competitors, each request returns rates updated every 60 seconds from Reuters/Refinitiv interbank feeds. You get access to all 160+ currencies with any base currency, plus historical rates and CORS support -- features many competitors restrict to paid plans.
- 300 requests/month with 60-second rate updates
- 160+ currencies with any base currency
- Official SDKs for JavaScript, Python, PHP, and React
- Historical rates included on free tier
- CORS and HTTPS on all plans
- Bearer token authentication
Ideal for: Production apps that need accurate, near-real-time rates but have moderate request volumes. The free plan is a genuine production-ready tier, not just a trial.
Frankfurter
Daily updates (ECB)Frankfurter is the go-to choice when you need unlimited free requests with zero friction. No API key, no sign-up, no rate limits. It is open-source and can be self-hosted. The trade-off is clear: only ~30 ECB-published currencies and rates updated once per day. If you only need EUR, USD, GBP, JPY and other major currencies, it is hard to beat.
- Completely free with no API key required
- No rate limits or request caps
- Open-source and self-hostable
- Historical rates back to January 1999
- ~30 currencies (ECB reference rates)
- Daily updates around 16:00 CET
Ideal for: Prototypes, learning projects, and applications that only need major currencies with daily accuracy.
ExchangeRate-API
Daily updatesExchangeRate-API offers the highest free request count at 1,500 per month. It covers 160+ currencies with daily updates. The trade-off compared to Exchange Rate API is the lack of real-time updates, official SDKs, and historical rate access on the free tier. Still, 1,500 daily-updated requests can be plenty for dashboards or internal tools that refresh once per day.
- 1,500 requests/month on the free plan
- 160+ currencies with any base
- Simple URL-based API key authentication
- Daily rate updates
- No official SDKs (community wrappers available)
- Historical rates on paid plans only
Ideal for: Internal tools, dashboards, and apps with moderate request volumes that only need daily rate accuracy.
Which Free Forex API Should You Choose?
Choose Exchange Rate API if you need real-time rates (60-second updates), official SDKs, and historical data on the free tier. The 300 request limit is sufficient for most MVPs and small production apps.
Choose Frankfurter if you need unlimited requests, zero setup friction, and only work with major ECB currencies. It is perfect for prototyping and open-source projects.
Choose ExchangeRate-API if your primary concern is maximizing free requests (1,500/month) and you only need daily-updated rates. Good for internal tools and dashboards.
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