Push Vs. Pull Forex Data

Push Vs. Pull Forex Data Image from Unsplash

If data is king in the fast-changing world of fintech, API is the key to unleashing its power. Understanding data delivery methods is critical for your company if you are an analyst, developer, or product manager because it will help you adopt the appropriate technique for the appropriate reason.

In this article, we will try to comprehend the two major API delivery mechanisms in the context of market data: Push and Pull mechanisms. What is the best method to avoid common pitfalls using Push and Pull forex data? To accomplish this, select an appropriate communication method between a client and a server.

Understanding Push and Pull Forex Data

Let us see what both methods are:

Pull Data

In the Pull method, also known as polling, a client or user requests data. The server sends the requested data as a response. It works through one-direction communication at a time.

It is like a vending machine where you must ask for the right resource to get what you want.

The popular type of Pull-based transport is:

-HTTP Get Request

Push Data

In the Push method, a client establishes a connection and receives the data in a flow. It works through a persistent, bidirectional connection.

It is a bit like a phone call where connecting allows two-way communication. The Push model forms the basis of many real-time web and other platforms. The popular types of Push-based transport are:

• WebSocket,
• FIX (Financial Information Exchange Protocol), and
• SocketIO

I understand that learning these terms can be intimidating for novices. However, understanding the underlying mechanism is not challenging. We’ll keep the technical jargon to a minimum in this article so we can explain the idea of Push and Pull API in layman’s terms.

Before we get into the differences between Push and Pull systems, let’s look at how they function and what applications they have.

Uses and application of Pull API System

If an App requires data, it can use a straightforward Get request over HTTP to obtain it from a server (for example, the TraderMade REST API). The server transmits the requested data, and the entire exchange is completed in a matter of milliseconds. To obtain current EURUSD prices, for example, use the TraderMade Forex REST API.

If the App requires infrequent or ad hoc data, the Pull method is preferable. Example:

1. Price updates to a customer’s crypto wallet every few minutes; or
2. In order to display a Forex chart in an app.

Lower loads are acceptable for the Pull system. However, for higher loads, where the system requests data numerous times per second, it is preferable to investigate the Push system.

Uses and applications of Push API System

A Push-based system is preferable if an App is heavily dependent on data updates and wants to be aware of any price change as soon as possible. Here a server (TraderMade WebSocket API) will send data continuously to the App that can consume it.

The Push system is efficient for heavier loads with high-frequency data needs. Examples:

• Trader quotes board which displays live currency updates.
• A price-quoting engine for market making.

Now we know a bit more about the two data delivery methods. So, let us look at the differences and pros and cons of each:

Push API Vs. Pull API

• Pull API is request-driven, and a client controls it for data needs. Whereas the Push API is event-driven, and the server manages it.
• Pull API is slower than Push API and not ideal for higher loads (tens of times per second). When we say slower, the difference is 10–20ms for REST API and 20–40ms for WebSocket API in the TraderMade case.
• Pull API is more versatile, dynamic, and easy to replicate system-wide without much effort than Push API.
• Pull APIs are unidirectional, while Push APIs are bidirectional.

Pros of Push API

• Push involves a bidirectional connection for the request-response operations.
• This mechanism increases the speed of data transfer.
• It does not need to establish an interconnection in every instance.
• A Push API is a go-to method for continuous data needs and when every tick matters.
• Great for higher loads
• Push API ensures higher efficiency, as it helps cater to the needs of many clients in a short time.

Cons of Push API

• Push API can be resource-intensive. It needs monitoring, high upkeep, and good technical skills.
• It’s not easy to deploy and replicate across systems applications.
• Not ideal for low-request needs.

Pros of Pull API

• Pull systems are easy to deploy. They ensure optimized scalability for the available computing resources.
• The Pull system is versatile, which helps with dynamic data needs
• A Pull system is ideal when data needs are low and diverse.

Cons of Pull API

• The Pull system is not ideal for higher loads. Setting up a connection and continuous data requesting is resource intensive.

Despite the fact that we have discussed the advantages and disadvantages, the issue is not “what is the best way to obtain forex data?” “However, what is a more appropriate solution for obtaining forex data?”

To understand these data delivery methods better, we would suggest you read our tutorial: WebSocket Vs. REST

As previously stated, the Pull System (REST API) is versatile, simple to implement, and ideal for ad hoc data requirements, but not for heavier loads that involve tens of requests per second. Push System (WebSocket API) on the other hand is extremely fast, efficient at higher loads, and guarantees that each price change is communicated.

If you need each price update and low latency continuous feed, the Push method is better suited. Alternatively, the Pull system is preferable for your non-continuous data requirements and if you require a quick and easy solution.

Rely on Us for Forex Streaming API

TraderMade has provided historical and real-time currency data via a variety of delivery channels. Forex data is sourced from reputable banks, organizations, and broker-dealer networks. You’ll get a filtered, real-time data feed.

We work hard to make market data available to everyone. In the same vein, we make every effort to give the greatest real-time currency data via forex streaming API. Through our Push-Pull API, we have been a trusted source of market data.

Register for a free API Key and begin your 14-day WebSocket trial. You get the most recent forex price feed, which is updated every few seconds. We make certain that users receive the highest quality, most accurate, and most dependable real-time currency data. Our market data assists users in analysing the market and making sound trading decisions.

Also read the original tutorial on our website: Push Vs. Pull Forex Data

Wrapping-Up

This post will walk you through the numerous technical components of Push and Pull forex data. It assists you to decide which data delivery mechanism is appropriate for which type of currency data. Use our streaming forex API to get real-time price feeds. Our streaming data API supports a wide range of currency pairs. In the long run, have a safe trading journey.