Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Hello,
i would like to ask if someone knows what the cheapest combination of broker/platform/data feed is to get real time level II data for the FX futures fom CME such as 6E and 6B.
I don't actually want to trade the FX futures, i just need them for my Spot FX analysis, since they move the same.
Thanks in advance.
Can you help answer these questions from other members on NexusFi?
I would do the opposite. Trade the FX futures and use the free spot data. But anyways, to each their own. You can get a free two weeks from CQG/Ninjatrader but creating a demo account with a new email address every two weeks is annoying.
The cheapest I have found is open an account with Interactive Brokers, and pay for the US Securities Snapshot and Futures Value Bundle which is 10 bucks a month and the price is waived if you generate at least $30.00 in commissions. If you don't trade your account, they will charge you a inactivity fee of $10 or $20 depending on your account balance.
They have strict pacing rules when requesting data but for the price you cant beat it.
FXCM is worth having a look at . Data is free with a trading account , also allows you to trade on Ninja Trader with their data for no fee or you can use their platform .You can trade forex , futures, oil, gold and shares with no commissions just the spread
I needed the same for exactly the same reason. I went with Sierra Chart lvl. 5 + Denali data feed which costs 92$ a month + one need acc. with CME broker e. g. with AMP in my case where I put 200$ as "collateral deposit" to fully utilize Denali.
I do not think it's the cheapest setup at all, but it is what it is. I guess that CQG or Rhitmic with free SC platform which is usually being offered by brokers for free could cost less.
I do the very same thing you are looking for. It does help to look at the GBP Futures when you trade it against other Currencies. Most of the people in this site trade Futures, but those of us with small wallets cannot afford the margin. (No offense to those who trade Futures)
My suggestion? How much can you pay per month? You dont have to say publicly, but I have several things I do.
Someone mentioned FXCM, but I thought they were kicked out of the US? I once had an account through them, but stopped a few years ago after their ethical issues. Maybe you can trade a demo? Maybe things changed, I dont know about their status, but as I said, I think they have been banned from the USA.
Trading View has access to live feeds. Not sure about the free version, but I use it to access the 6B1! (British Pound continuous Contract) Also, I dont recommend Oanda (because of their 50-1, with no oil, gold or silver trading) but I use it via TradingView because I can trade right there and avoid Oanda's sickly trading platform.
My brother also trades Forex using the futures charts. He has a retirement account with T or S, and he says he can use it for both Futures charts and Forex charting. He says he doesnt pay for the Forex or Futures charting because he has a savings account.
For futures data like 6B1! you need to have CME data provider account connected to your TradingView account otherwise you see only delayed data ( see screenshot from my TV Pro+ without CME data connected on this link 6B1!)
Moreover AFAIK Trading view does not provide level 2 DOM data even for real-time CME data feeds.
Regarding OANDA. Personally 50:1 would be enough leverage for me and commodity and precious metals CFDs like Oil, Gold and Silver are tradable products with OANDA.
Yes, I agree (you are right) it is delayed. But it is research, right? I just pretend it is a Saturday night. I was throwing out a cheaper alternative. I know he asked for live, but I was trying to save him money for the time being. Thanks, and sorry I didnt clarify that.
Fair enough, we all try to help as possible buddy.
Hovewer requirement for Level 2 data is mentioned explicitly in the question, hence I highlighted that he/she can experience issues with delayed data and missing L2 on TV platform. For this, one will need having an account with CME brokerage.
If you get approved for futures trading with think or swim its free and has lvl 2 and you can have like $1 in your account I did and used the data. I also have sierra chart the free pckg with cqg, amp, and its like $20 for that data but the thinkorswim data seemed to be identical speedwise and the same except volume/tick differences.
