Ever wonder why your Bokers charts use different data?? | Forex Factory

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Ever wonder why your Bokers charts use different data??

  • #1
  • First Post: Edited 3:34pm Aug 23, 2006 2:55pm | Edited 3:34pm
Did anyone ever wonder why the charts your broker supplies have a different data feed that your trading platform?????
Profit is where readiness meets Opportunity
  • #2
  • Aug 23, 2006 3:03pm Aug 23, 2006 3:03pm
It could be that different brokers use different data feed. Based on my experienced with different feeds, price can vary between 1-4 pips in a quiet market.
Quoting FXopportunist
Did anyone ever wonder why the charts your broker supplies have a different data feed that your trading platform?????
  • #3
  • Aug 23, 2006 3:35pm Aug 23, 2006 3:35pm
Quoting raczekfx
It could be that different brokers use different data feed. Based on my experienced with different feeds, price can vary between 1-4 pips in a quiet market.
Not quite what i was getting at raczekfx. More specifically. Why does your broker use a different source of data for thier charting that for thier trading platoform?
Profit is where readiness meets Opportunity
  • #4
  • Aug 23, 2006 4:01pm Aug 23, 2006 4:01pm
Brokers, who don’t charge commissions, make money on the spread as well as price difference between what their data source shows and what they present to you on the platform. If you meant, their charting software and platform shows different price then to be honest, I never experienced this. Do you have any specific b. in mind?<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>
Quoting FXopportunist
Not quite what i was getting at raczekfx. More specifically. Why does your broker use a different source of data for thier charting that for thier trading platoform?
  • #5
  • Aug 23, 2006 4:10pm Aug 23, 2006 4:10pm
Quoting raczekfx
Brokers, who don’t charge commissions, make money on the spread as well as price difference between what their data source shows and what they present to you on the platform. If you meant, their charting software and platform shows different price then to be honest, I never experienced this. Do you have any specific b. in mind?<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" /><o></o>
I think you pretty much summed it up.

I just think it is amusing when they spike your stops when their own charts show that that price was never reached. Then they use the excuse that their chart provider uses a different data source. Fact of the matter is most any chart provider will glady let you use your data to run their charts.

I had this dispute with ACM recently. I asked to have a data feed from them to run my charting and they said that they only share that with banks and must meet special requirements...........

How funny. trust me your stop was hit, I just can't show you the data..............................
Profit is where readiness meets Opportunity
  • #6
  • Aug 23, 2006 4:13pm Aug 23, 2006 4:13pm
Quoting FXopportunist
Not quite what i was getting at raczekfx. More specifically. Why does your broker use a different source of data for thier charting that for thier trading platoform?
The answer is really quite simple...because your broker finds it too expensive to try to create and manage charting applications. It is easier for them to get a volume license (including tick data) from a third party vendor than it is for them to develop.

A perfect example of this is FOREX.com...they use Pro-sticks charting package that's basically a control for them to add on their java applet platform. The feed gets streamed via HTTP from a different server completely than their own price feed.

Let's put it this way...often times, chart developers will allow free volume licensing for IB's or Brokers themselves if they used their preferred data vendor. Then they charge a per seat monthly license fee for usage. This is more desireable for the third party as it allows them to take in recurring revenue from the data stream rather than a 1-time per-seat charge.

In the end, you're paying for the feed. For the broker, it may cost $10 a seat, but you pay 1 pip of spread on a standard lot trade and you're pretty much golden, right?

Don't look too deeply into this man...there are no conspiracies here.
  • #7
  • Aug 23, 2006 5:51pm Aug 23, 2006 5:51pm
Quoting mrmikal
The answer is really quite simple...because your broker finds it too expensive to try to create and manage charting applications. It is easier for them to get a volume license (including tick data) from a third party vendor than it is for them to develop.

A perfect example of this is FOREX.com...they use Pro-sticks charting package that's basically a control for them to add on their java applet platform. The feed gets streamed via HTTP from a different server completely than their own price feed.

Let's put it this way...often times, chart developers will allow free volume licensing for IB's or Brokers themselves if they used their preferred data vendor. Then they charge a per seat monthly license fee for usage. This is more desireable for the third party as it allows them to take in recurring revenue from the data stream rather than a 1-time per-seat charge.

In the end, you're paying for the feed. For the broker, it may cost $10 a seat, but you pay 1 pip of spread on a standard lot trade and you're pretty much golden, right?

Don't look too deeply into this man...there are no conspiracies here.
Got it. Makes sense.
What do you think about brokers who will not share their API data?
Profit is where readiness meets Opportunity
  • #8
  • Aug 23, 2006 8:15pm Aug 23, 2006 8:15pm
Quoting FXopportunist
Got it. Makes sense.
What do you think about brokers who will not share their API data?
I would prefer it if they did offer an API, but if they don't share it, they don't...I would say 90% of the retail brokers won't share their API. It has nothing to do with advantages, though...it has to do with support. If you offer an API, no matter WHAT people tell you, you HAVE to support it. Meaning, you have to keep good documentation. You have to answer e-mails, etc. Inevitably there will be questions that have to be answered, and if you DON'T want to deal with that, you don't share your API...same with any company who makes any sort of software.

Often times, these brokers only have their technologies to set them apart. If they start sharing that, it might expose them to competitors. It's just safer.
  • #9
  • Aug 24, 2006 6:44am Aug 24, 2006 6:44am
Quoting mrmikal
I would prefer it if they did offer an API, but if they don't share it, they don't...I would say 90% of the retail brokers won't share their API. It has nothing to do with advantages, though...it has to do with support. If you offer an API, no matter WHAT people tell you, you HAVE to support it. Meaning, you have to keep good documentation. You have to answer e-mails, etc. Inevitably there will be questions that have to be answered, and if you DON'T want to deal with that, you don't share your API...same with any company who makes any sort of software.

Often times, these brokers only have their technologies to set them apart. If they start sharing that, it might expose them to competitors. It's just safer.
Very good insight, thanks. Are you a computer/network guy?
Profit is where readiness meets Opportunity
  • #10
  • Aug 24, 2006 12:13pm Aug 24, 2006 12:13pm
Quoting FXopportunist
Very good insight, thanks. Are you a computer/network guy?
You have excellent intuition...now...channel that intuition and make millions in FOREX.

1 pip a trade on 25% at 400:1 = $1000 to $1,000,000 in 2298 trades.
  • #11
  • Aug 24, 2006 12:20pm Aug 24, 2006 12:20pm
Quoting FXopportunist
Did anyone ever wonder why the charts your broker supplies have a different data feed that your trading platform?????
There are some brokers like Forex.com that are not the actual chart provider. That's why their quotes are different from what you see on the chart. But to my knowledge those brokers who use MetaTrader offer you the same price as what you see on the chart. I know that IBFX and MIGFX are within this category.
  • #12
  • Aug 24, 2006 12:21pm Aug 24, 2006 12:21pm
Quoting aparsai
There are some brokers like Forex.com that are not the actual chart provider. That's why their quotes are different from what you see on the chart. But to my knowledge those brokers who use MetaTrader offer you the same price as what you see on the chart. I know that IBFX and MIGFX are within this category.
hey...that's what I said a yesterday! :-) copy cat
  • #13
  • Aug 24, 2006 12:26pm Aug 24, 2006 12:26pm


Quoting mrmikal
You have excellent intuition...now...channel that intuition and make millions in FOREX.

1 pip a trade on 25% at 400:1 = $1000 to $1,000,000 in 2298 trades.
  • #14
  • Last Post: Aug 24, 2006 12:29pm Aug 24, 2006 12:29pm
Quoting mrmikal
hey...that's what I said a yesterday! :-) copy cat
I read your note after I submitted my answer and that's funny how we came up with the same name. Anyway, I had a hard time with those guys and eventually got rid of their awful platform and their services.
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