What Are OTC Currency Pairs?
OTC currency pairs are currency instruments traded over the counter, directly between counterparties rather than on a centralised exchange. Platforms use separate labels such as “EUR/USD (OTC)” to distinguish instruments with their own quote source, availability or contract terms from their standard currency instruments.
OTC currency pairs are currency instruments traded over the counter, directly between counterparties rather than on a centralised exchange. Platforms use separate labels such as “EUR/USD (OTC)” to distinguish instruments with their own quote source, availability or contract terms from their standard currency instruments.
For developers and product managers, the label is only the starting point. Before integrating a feed, establish where its values come from, what its fields mean and how the instrument should appear in your application.
What OTC means in currency trading
OTC stands for “over the counter.” A transaction takes place between counterparties outside a centralised exchange.
The foreign exchange market largely operates this way. Banks, dealers and customers trade through several channels, including electronic platforms and direct connections. The BIS explanation of how FX trading works describes these arrangements.
An OTC label therefore does not identify a particular method of producing quotes. It describes how an instrument is traded or offered.
A platform may also use “OTC” as a visible product label. In that setting, readers need an explanation of the specific instrument and its source.
Why platforms label instruments separately
Two instruments can reference the same currencies while using different feeds or operating schedules.
A separate label helps users select the intended instrument. It also helps your application associate each chart with the correct source and settings.
For example, “EUR/USD” and “EUR/USD (OTC)” should have distinct internal identifiers if they represent different products.
The display name should explain the difference. The identifier should prevent your backend from mixing their records.
OTC currency pairs vs market pairs
Searches for the “difference between OTC and non OTC” often concern platform-labelled instruments rather than the broader foreign exchange market.
Since ordinary spot FX is itself predominantly OTC, those words alone do not provide a precise comparison.
For an integration, compare the actual sources. The table below contrasts market-based feeds with algorithmically generated feeds.
| Aspect | Market-based currency quotes | Algorithmically generated OTC quotes |
|---|---|---|
| Data source | Dealer quotations, trading venues or reported transactions, depending on the provider | A quote-generation algorithm |
| Meaning of values | Market-related information defined by the provider’s methodology | Values produced under the generating system’s rules |
| Operating hours | Depend on the market, instrument and provider | Depend on the service’s operating schedule |
| Price formation | Follows the source’s quoting or trading process | Follows the algorithm’s rules |
| Example display label | EUR/USD | EUR/USD (OTC — generated) |
| Relationship to execution | Depends on whether quotes are indicative or executable | Must be established separately from the displayed series |
| Activity fields | May represent quantities, counts or another measure | Have the meaning specified by the provider |
The example labels are interface suggestions, not required API symbols.
Do not select a feed because its candles resemble another chart. Compare its definitions, permitted use and operating conditions against your product’s requirements.
Why platforms offer OTC pairs
A platform can remain online when its regular currency feed stops updating. Its team must decide what users should see during that period.
Options include displaying the last available quote, marking an instrument as closed or offering a separately identified instrument with different availability.
The choice should follow the product’s purpose and be clear before users open a chart.
Weekend availability
Some products require instruments that continue updating during weekends.
A continuously available feed can support that experience, provided the interface identifies what users are viewing.
QUOTC provides a generated feed available 24/7, including weekends and holidays.
Keep instrument selection explicit. A user opening the standard currency chart should not be silently moved to a different feed.
The article on OTC currency quotes on weekends explains this product scenario in more detail.
Holidays and operating schedules
Holiday availability also needs planning. Different instruments and providers may follow different calendars.
Document the schedule for each feed rather than applying one global “market open” setting.
Your interface should distinguish a scheduled pause from a connection failure. Otherwise, users and support teams may mistake normal operating hours for a technical problem.
Where OTC quotes come from
Ask the provider to explain the source before you evaluate its connection method or chart appearance.
A successful connection confirms that your application receives messages. It does not explain what those messages represent.
Dealer quotations
A dealer quote comes from a counterparty’s quoting process. Its meaning depends on the instrument, recipient and conditions under which it is supplied.
Some feeds contain indicative quotations. Others provide executable quotes or records of completed transactions.
Check which category applies. A value suitable for a reference chart may not meet the requirements of a system that needs executable prices.
Algorithmically generated series
An algorithmic feed produces a series according to its own rules. Its messages can include timestamps, price fields and activity measures.
These familiar fields make chart integration possible, but their definitions still need checking.
For example, a field named volume might describe activity rather than a quantity exchanged. Your calculations and labels must follow the provider’s definition.
Also ask how updates should be grouped into candles. The correct treatment depends on whether messages contain individual values or summaries of shorter intervals.
Questions to ask before integration
Ask the provider these five questions:
Are the values market observations, dealer quotations or generated values?
What does each price field represent?
What does the timestamp measure, and which unit does it use?
Does volume mean traded quantity, update count or another activity measure?
How should the source be described to users?
Keep the answers in your integration notes. Developers, support staff and content writers should use the same definitions.
Resolve unclear answers before building calculations or publishing product descriptions.
What platforms should tell users
Explain the instrument where users select and view it. Keep the wording consistent across interfaces, exports and support material.
Use distinct labels and identifiers
Give different instruments separate labels and internal identifiers. Carry those identifiers through caches, stored candles and subscriptions to prevent records from different feeds appearing together.
Explain the chart’s source
An OTC currency pairs chart should name its source and explain what its candles summarise.
Place this information beside the chart or behind a clearly labelled information control. Mark source changes and include the source in exports where practical.
Describe activity fields accurately
Match visible metric names to the provider’s definitions. If a field represents relative activity, use that description in legends and tooltips rather than “traded volume.”
State the displayed time zone and describe price summaries accurately.
How QUOTC supplies generated OTC quotes
QUOTC supplies algorithmically generated quotes, not market prices; they do not reflect actual market conditions. Read the Risk Warning before deciding whether the service fits your product.
The service provides a WebSocket API for trading platforms, fintech products and development teams. It operates 24/7, including weekends and holidays.
The QUOTC product overview describes the available access.
A production key includes 58 currency pairs and costs 500 USD per month per key. Support activates and renews production access manually after payment.
Contact support to arrange payment.
The free test key provides 10 currency pairs for 14 days from creation, with one test key per account.
What the stream contains
Each second, the service sends one message for each available pair.
Messages contain symbol, value, open, high, low, volume and ts.
The value field is the close of the last second. The ts field uses Unix milliseconds in UTC. The volume field represents relative activity, not traded volume.
Follow the API documentation for authentication, subscriptions and connection handling.
Connecting from your server
Each key is bound to one server IP address, supporting IPv4 or IPv6. Changes to that address go through support.
Keep the key on your server. Do not include it in browser code, mobile applications or public repositories.
Your backend should pass the required display data to your frontend. Up to 10 simultaneous connections are allowed per key.
Frequently asked questions
What does OTC currency pairs mean?
OTC means over the counter: trading between counterparties outside a centralised exchange. A platform may use an additional OTC label to distinguish a particular instrument.
Are all OTC currency pairs algorithmically generated?
No. OTC describes a trading arrangement, not one universal quote source. QUOTC quotes are generated algorithmically and are not market prices.
Why can OTC pairs update on weekends?
Availability depends on the instrument and its provider. A service with a continuous operating schedule can supply updates outside regular currency market hours.
Can I compare two EUR/USD charts from different sources?
Yes, but identify both sources. Do not assume that matching currency names mean identical values, equivalent instruments or a continuous relationship between their series.
Does QUOTC offer a free test key?
Yes. One free test key per account provides 10 currency pairs for 14 days from creation. The key is bound to your server IP address.
Test the integration in your application: create a QUOTC account and request your free test key for 10 pairs over 14 days.