I've recently been testing different charting/data feed combos. I am not interested in order execution and DOM side of it, because I am quite happy with what I have now.
The one option that I did not check is Integrated Client with CQG data feed. As someone said, CQG seems to be the gold standard against which all others are measured. To be honest, I knew I couldn't afford it, so I would feel like a fraud getting a demo.
Ultimately, I settled on DTN IQFeed and I am extremely happy with it. I currently use it in combination with either NinjaTrader or Multicharts, and will test Sierra Chart shortly.
The reason I mention all this is that no matter what platform I choose to pair with IQFeed, CQG Integrated Client is still $595 minimum per month! We're talking about at least three times more expensive than its competitors.
There are couple of caveats. CQG has order execution (which you have to pay extra for), while IQFeed doesn't. Also, if I were to trade non-US futures, say Kospi 200, I would only trust CQG to give accurate data. No question that its data network is incredible.
But those issues aside, if I am trading US futures exclusively, how much better is CQG really than IQFeed paired with Sierra Chart, Multicharts, NinjaTrader, Investor RT or Ensign? Is the feed really THAT much more accurate, that much more stable? Is charting that much better?
Has anyone tested CQG against IQFeed (plus whatever charting package)?
If anyone has feedback on the charting/data feed side of CQG, I would love to hear it.
Favorite Futures: Options, Futures, FX & FX Options
Posts: 37 since Dec 2010
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Feeds are feeds lets not get carried away with getting a tick sent 1 microsecond sooner than the other guy, while most poeple like to get thier data super fast on the banks can say they need it. That said CQG is very fast and very precise.
They do offer an order routing service not execution you still need your FCM, thier routing service is simply the best.
CQG is really needed for the following:
Advanced Trading Strategies
you get what you pay for, i pay £1200 per month for the entire setup yes this is expensive but i know for sure i make 10k month more using CQG than not. Try and think about what it will make you not what it costs.
to be honest they have a few features like TFlow which without that i wouldnt even be in the game, i would pay 10k a month for that alone.
PS they offer co-lo at the exchange if you are really keen in getting the speed up its £2500 a month, i have a couple of servers with them which i can do a round turn trade in 14 microseconds.
if you need any more info on thier co-lo just ask, you will need to pay for thier API which is £350 a month.
You have to enjoy it.
The following 4 users say Thank You to h4cked for this post:
are you trading with FXall ? I would like to hear your opinion on it. I have tried to demo FXall with several brokers but they all wanted to sell me their Currenex hub, telling me that liquidity and spreads were much better.
Furthermore, does CQG's Tflow offer anything unique that MarketDelta doesn't have ?
When it comes to situations when exchanges work well feeds from various providers will work cleanly and you will not notice too much of a difference. Question is - what happens when activity goes through the roof? Or exchange has bad trades they publish. Or yesterday's settlement that they need to correct. So, there is still importance in getting clean feed that is able to deliver all of the ticks (trades and DOM) without delay.
See how much you value this aspect of a feed and whether saving $200/month to go with less expensive but less reliable feed is worth to you.
I agree with you completely. How does the feed hold up during crazy times is very important to me. During major announcements, Tradestation would seize up as though it had a seizure, than there would be a burst of ticks. But then months would go by where it would behave just fine. You could never tell, but I personally couldn't handle that any more.
No doubt that CQG is rock solid. The problem is, I have not yet seen any proof, or even indications that CQG is better in supplying data to charts than IQFeed. This is why I asked if someone did comparisons.
As h4cked pointed out, there are certain activities for which CQG is extremely well suited, but none of them is what I am looking for. All I want is a solid, reliable feed to supply U.S. Futures data to up to three tick charts and up to 9 interval charts. I just want to have confidence that what I am seeing is really happening.
Perhaps I should take CQG demo to see if it will add sufficient value to my trading.
On a separate note, I recently read that CQG has established a new division called Continuum where they would allow third parties to use either their data feed or their order routing. I think AMP and NinjaTrader have something going there. Prophet X is going to route its orders through CGQ network.
I looked at Wave 59 website. They claim that they have professional quality feed. Looking closer at the options on the site, and reading between the lines on the non-commital answer that I got from Wave59 support, I have no doubt that their charting feed is CQG.