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Which broker and/or data feed to trade FOREX with TICK charts?
Spreads
LMAX's website allows to see their average spread on any time period ( Average Spreads ( )
First graph below is for last 2 months (March-April, 2012).
Second graph is since November 2010.
They are vendor's information.
While going on in my investigation to find a good-quality tick data feed for FOREX, I have discovered something...
My data provider is eSignal. I have never seriously considered trading FOREX because it seemed ugly and untradable for me (look at the size of the candles and the tails) on eSignal:
EUR A0-FX 5min :
But, actually, the above is eSignal composite feed, composed of 24 contributors:
(more details on their knowledge base : Session Timeout then type 3108 in the search bar)
And eSignal allows isolating each of the contributor. And it becomes much better!
The most "dense" (in terms of ticks per minutes) contributors seem to be FXCM (Forex Capital Markets, NYC), PFG (PFG Retail) and TDFX (3Dfx North America Los Angeles).
For instance, here is FXCM 5-min feed, to be compared to the ugly composite feed above:
EUR@FXCM A0-FX 5-min:
And the same with 70 ticks:
EUR@FXCM A0-FX 70 ticks:
Conclusion for me: do not look at eSignal's standard composite feed EUR A0-FX. Isolate relevant contributors.
I continue my investigation for a good tick feed for FOREX.
In order to appreciate the "density" of some feeds, I have counted the number of 500-tick bars they provided for EUR/USD in the 2-hour time window this morning (May 9th, 2012) between 09:00 and 11:00 (French time).
I am aware that it has no statistical value. It was just "to see".
Results:
- LMAX: 93 500-tick bars in 2 hours for EUR/USD
- MB Trading feed: 77 500-tick bars in 2 hours for EUR/USD << UPDATE
- FXCM within eSignal feed: 61 500-tick bars in 2 hours for EUR/USD
- ProRealTime: 38 500-tick bars in 2 hours for EUR/USD
- Interactive Brokers (Ideal Pro): 21 500-tick bars in 2 hours for EUR/USD
Have you looked into MB Trading (UK and US based)? I find their data feed quite good, and they are supported with MultiCharts, and provide a non-expiring demo account with data feed. Don't have traded through them, so can't comment on that.
I have opened a demo account, and below is what I currently see for EUR/USD 500 ticks in their own software (Desktop Pro). A bit scary. Have you already experienced this kind of things?
