For traders and analysts, historical forex data is an essential tool in analyzing market trends, backtesting trading strategies, and making informed decisions. However, finding reliable sources for downloading forex data that spans more than two years can be a daunting task. In this article, we will explore some of the most popular sources for downloading historical forex data and the considerations traders should keep in mind when selecting a data source.
1. MetaTrader
MetaTrader is a popular platform among traders, and it is equipped with a built-in tool for downloading historical forex data. To download historical data, follow these steps:
– Open the MetaTrader platform and go to the “Tools” menu.
– Select “History Center” and choose the forex pair you want to download data for.
– Choose the time frame and click “Download.”
The data will be downloaded in a .csv format that can be imported into other trading platforms for analysis. The MetaTrader platform offers data for up to 20 years, making it a valuable data source for traders.
2. Dukascopy
Dukascopy is a Swiss-based forex broker that offers historical forex data for free. The data is available in .csv format and covers a wide range of forex pairs, including exotic pairs. To download historical data from Dukascopy, follow these steps:
– Go to the Dukascopy website and select “Data Feed” from the top menu.
– Choose the forex pair and time frame you want to download data for.
– Click “Download” and select the format you want to download the data in.
Dukascopy offers data for up to 16 years, making it a valuable resource for traders and analysts.
3. Forexite
Forexite is another popular source for historical forex data. The website offers data for a wide range of forex pairs and time frames, ranging from one minute to one month. The data is available in .csv format and can be downloaded for free. To download data from Forexite, follow these steps:
– Go to the Forexite website and select “Quotes Archive” from the top menu.
– Choose the forex pair and time frame you want to download data for.
– Click “Download” and select the format you want to download the data in.
Forexite offers data for up to 10 years, making it a useful tool for traders and analysts.
4. Investing.com
Investing.com is a popular financial news and data website that offers historical forex data for free. The data is available in .csv format and covers a wide range of forex pairs and time frames. To download historical data from Investing.com, follow these steps:
– Go to the Investing.com website and select “Forex.”
– Select the forex pair and time frame you want to download data for.
– Click “Download Data” and choose the format you want to download the data in.
Investing.com offers data for up to 20 years, making it a valuable resource for traders and analysts.
Considerations when selecting a data source
When selecting a data source for historical forex data, there are several considerations that traders should keep in mind. These include:
– Accuracy: The data should be accurate and reliable to ensure that traders can make informed decisions.
– Coverage: The data should cover a wide range of forex pairs and time frames to meet the needs of traders and analysts.
– Availability: The data should be easily accessible and available for download in a user-friendly format.
– Cost: While some data sources offer data for free, others may charge a fee. Traders should consider the cost of the data when selecting a data source.
In conclusion, historical forex data is an essential tool for traders and analysts in analyzing market trends, backtesting trading strategies, and making informed decisions. While finding reliable sources for downloading forex data that spans more than two years can be a daunting task, the sources discussed in this article offer valuable resources for traders and analysts. By considering the accuracy, coverage, availability, and cost of the data, traders can select a data source that meets their needs and helps them achieve their trading goals.
