If I have understood correctly, CQG Trader is more or less the Integrated Client minus all charting and indicators. Let me know if I am wrong.
Velocity Futures offers CQG Trader for 'free' (bundle commission), and it's actually about 60 cents cheaper per rt than X-Trader. So I might do a trial to check out the DOM, which from the videos looks interesting, but not as powerful as X-Trader's.
Anyone using CQG? Anyone care to share their research and experiences?
CQG trader is very good, great if you just want a dom, as you said the integrated client is more of an all in one which i dont like, would prefer to keep the charts seperate from the dom.
Great feature on the dom is right clicking on a price brings up a wagon wheel of order options to select from, so its really easy and fast to choose. Also you can format hot keys for various things which makes everything fast and easy. I have individual sound alerts set for orders entry, all working orders are clearly displayed witht the fastest latancey i have ever seen. Also easy to set OCO's by clicking the magnet on the orders which will link them together.
You can get a demo from their site, def worth a try.
hth.
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Have you used X-Trader before? If so, how do you feel CQG stacks up regarding the DOM? I'm only interested in the DOM, since I'm using MultiCharts for charting.
The day I wanted to learn more about daytrading was the day I learned about CQG.
When I learned more stuff and talked to many retail traders they said : Forget CQG, it's way to expensive and you don't need all that stuff.
I always looked at CQG and knew deep inside it's what the pro's and big retails use, maybe with a reason. Looking forward to see what the results of the experiences are.
There are various stop types possible and i have not used or really explored them but yes there are trailing stops available in the trader version. If you want out the box brackets and ATM then you would need the integrated client version. I used brackets exclusivly before but now use OCO's that i set once the orders are in as its a simple 2 click operation on the magnets to link them.
The ladder has options to alter it between either mode, plus graphic depth of order book, you can switch which side you want buy/sell to be on and you can change the colours as you wish. It also auto prints a line on open high low of the day on the ladder.
You can also set hot keys for size and various entrys and stops.
I have used x trader although only on demo as i found it was very good but also very complex, a little too complex for me.
anything else just ask, can do screenshots next week.
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The only guy in my town that offers CQG is Newedge and I would need a $1 million account to clear with them. The other clearing houses offer TT, PATS, RTS, and something from Sunguard. I've trained on the RTS RTD Tango system and love it, but it costs a bomb.
In terms of innovation and continuous product improvement, CQG and RTS seem to lead the way.
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Yo Mike, i have been trying to do the screen shots buts its real hard whils trying to show the functionality so you would be best of trying the demo or seeing some of the videos
Big Mike I have been using CQG Trader for about 6 weeks now so would be happy to share my experiences. I have next to no experience with X-trader but would like to try this DOM also
I switched from the NT DOM as I was tired of the stability problems especially when I have live trades on. I think the features of the NT DOM are fine I just can't live with the problems so decided to switch.
Here's a few things that so far I like;
* Look and feel of the DOM
* Ease of using OCO's - I now don't miss the ATM strategies but I'm not a scalper so this was never super important
* The CQG Performance monitor that let's me know when my network connection to their servers is slow
* The quality of the data feed that keeps up even in big moves when Ninja freezes up. This feels good.
* The quality of their phone support (Supurb). This is very refreshing.
* The fact that trailing stops are regular stops are not stored on my local PC but rather on their servers. What you are paying for with CQG is the quality of their IT Infrastructure. If you hold overnight this can be important allowing you to breath a little easier.
* The ease of canceling a stop and then changing it to a trailing stop if you change your mind
* The ease of use of the Heads Up Display (HUD) order entry method
Needs Improvement
* There are no trade stats like NT has. This would be a great addition to the product.
Other than that I am so far quite pleased with CQG and will not be switching back to NT DOM.
Hope this helps.
Cheers
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So I've only been on the site about a week now and have noticed you're looking for an alternative to NT's dom. Is there any reason you've ruled out Infinity AT? Just haven't seen you mention it but know it's a popular alternative which I've personally used.
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Sorry, I've not pursued it any more due to lack of time right now. I still want to take a look at it, just to see what if anything I am missing. One day.
I just took a look at CQG trader today and it has the cumulative volume at each price like x-trader and with Velocity the bundled fee commissions are cheaper than x-trader so I plan to try it out. I need to confirm they have simulator for the markets I trade.
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I am looking at it too.. what topped it for me was this morning around 7AM EST when I went to check out 6E and TF and I wanted to enter a trade, no data would feed the DOM, even though data was coming into the charts and the quoteboard just fine... POS product.. I had to uninstall and reinstall all over again and then it worked... what bothers me the most... none of this issues happen on the computer with the free license, but only on the one with the license that I spent $$$ for to trade live.. for all most things, the free license is just fine I have come to find out...which is probably why NT's product is lacking quality at the same time and they lack any innovation... who knows... I really only wanted to use their DOM with IB, ended up now using BookTrader from TWS for what I need.. and possibly now CQG for my scalping if that works..
CQG doesn't have eurex products on simulator so I stopped looking farther. If one isn't trading eurex then CQG does look good.
I've had lots of ninja problems lately and it appeared to be a problem with my PC, my network was overloaded. What's weird is other trading apps worked just fine and ninja was the only one that wouldn't work. I'm not sure how they manage the network but it seems inefficient. I reduced the number of futures I collect data for and exited tradestation and it seems to work better.
Part of your problem could be the interface with IB. Ninja talks to TWS who talks to the IB servers. A zenfire broker is more efficient but if you're going to do that might as well try CQG the commissions are cheaper.
Scalping with IB may not be optimal because they aggregate their data but I've heard people say it's fine.
There are also products that work with IB such as button trader. I haven't tried them.
That depends on each individual's criteria, trading style & markets. Ninja is great if you're not into super scalping on the DOM. Since the simulator is on the PC, you can sim any market.
CQG & X-Trader are better for DOM scalping and have the simulator on the server. It's a bit more realistic but they don't have all trading products (would require too much server resources for sim). CQG doesn't have any Eurex and Velocity's X-Trader doesn't have the Bund but it does have Dax & Stoxx.
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they dont have simm... but you can get a demo account and do the same thing... similar to what IBKR has with their demo account vs. real live account..
I dont scalp with the IBKR account... well, not with futures anyhow as I do "day trade" equities/etf's and swing options on that account ... and I have used ButtonTrader, and I love it, but I just dont need it all the time for what I do with the IBKR account... so no need to pay the ~$500/yr to use it... if I day traded the basket I use every day, sure.. but I dont... anyhow, buttontrader is great... sadly he only supports IBKR...
This is the problem, they do not have eurex products on their demo. I guess they don't want to pay the fees. if it weren't for this I'd be testing it now but as I trade the Bund during the european session I won't be able to use it.
CQG is a super platform for those that seek straight DOM execution without the chart execution.
From a risk management perspective, in my honest opinion, this is one of the best platforms to view balance, open positions and open orders. The support desk there is great and solves any issues fairly fast.
CQG is also a feed like Rithmic, but it's a bit cheaper so we "feed" it via some other platforms.
I have attached here an image of it's DOM capability through a left-click.
This allows you to choose the order through the DOM by pointing to it.
Rock Solid and does warn you of any connectivity issues.
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I only think they use the names CQG Lite and CQG Trader interchangeably.
I have asked the FCM for it again, but so far I see nothing knew coming out of them.
Our rep at CQG might give me some answers.
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A little update: spoke to a friend at CQG....
CQGLITE is a version that is available in Asia only for now.
It's a stripped down version of CQG Integrated.
But, it seems that CQG could be integrated with a product of DTN Prophet-X.
I was told it could have N.American and Eurex as well.
As soon as I will have more pricing I will post that.
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Folks, I am new to this forum so forgive me if I don't follow some rule. I will also be open and will disclose that I work for CQG. I am more on a technical side of the company and will try to answer whatever question you may have about CQG products and technologies.
To answer some questions that were asked earlier in this thread - CQGTrader is NOT a Java platform, it is C# application with most of the real time critical pieces (DOMTrader, etc.) written in C++.
There is a difference between CQG Integrated Client and CQGTrader - CQGTrader has order routing capabilities of Integrated Client but it is usually 1 version behind. Next version of CQGTrader will provide bracket orders as well as other enhancements that were made available in Integrated Client in the recent past.
CQG offers Eurex for simulation but you have to pay for the market data. If you are willing to do that (Eurex's requirement) - ask your FCM and they will add Eurex to your sim or demo account.
If anyone has any other question - jump in, I'll be glad to get you an answer.
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I had a demo of x-trader with access to Eurex without paying for any data. My issue with paying for data is I already pay for it so I'd have to pay for it again just for the demo.
I guess I could try out QCG Trader with CME for free, my broker has both X-Trader & CQG Trader.
Because different brokers can call product differently please ask your broker what is included into CQG Lite. Depending on their answer I can help you understand what is in it.
You're absolutely right - if you want to try out the product try it one of the exchanges that allow limited free access - CME, ICE, liffe and the others.
I have a few questions:
1) You keep referring to CQG Lite, is that CQG Commercial? my understanding that the "lite" version is available in Asia only.
2) Can you please tell us about the integration between CQG and ProphetX for charting? Is there a fixed package cost for Eurex and/or CME?
I appreciate your time as I want to inform my clients.
Matt
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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Again, each broker has a way to call CQG packages the way they want, so I cant comment on what is included into each package here. There is a version of CQG that is being sold in Asia called CQG Lite and it is limited to the Asian customers only. That package includes charting and trading. There are other CQG lite packages that are floating around as well in other parts of the world.
On the second question - there is a version of ProphetX with trading interface that is powered by CQG that is currently in the final stage of qualification. I am not sure on the pricing of it (question to ProphetX people), for trading it will have access to all exchanges where CQG has access to.
The naming and the ProphetX product came from a very good colleague from CQG Chicago.
I have been dialing the guys at ProphetX, sadly I did not get any answer. Probably the FIA taking all their time.
Your efforts to help on the forum are much appreciated.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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ok, good news: CQG Lite/Commercial can accommodate now all major European Futures.
All the routing will be done via New Edge which is a first class firm.
Other: I spoke to ProphetX guys for charting and for now it's a bit too expansive.
Their major clients need news and they charge for it. We don't need news..
They said they will try and come up with a better charting package to integrate with CQG.
Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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CQG is the gold standard for electronic trading and technical analysis, this is a well known fact.
Known also in the market for being very expensive for smaller private traders and a restrictive cost of entry.
Well I did some numbers over the last few days and thought I would share them.
The formula on the volume assumes a 50/50 split in trade on the EC and CL, you can adjust this to match your trading instrument.
The volume is also per side and the broker is all velocity.
Just proves though that at only 450 round turn contracts per month CQG IC is very cost effective.
You have to enjoy it.
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I have recently spoke to these guys for our CQG users who wanted to automate their methods on CQG integrated. DMZ Trading Solutions, LLC
This is worth taking a look at if you are a high volume trader.
M
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Could you expand a little more this subject? I know that CQG has an agreement with EBS for forex data and trading, but don't know much how it is works.
Maybe you could post on this discussion
For trading Spot FX we need:
1. Data Feed.
2. News.
3. Execution Pole.
4. Broker.
5. Charting and plus ... software.
6. Execution software.
With different mixtures.
ad 1. MorningStar (TenFore) is pure Data Feed.
ad 2. Market News Internationl …
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.
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
Options Trading
Spreading
News Trading
you get what you pay for, i pay Ģ1200 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.
Adam
PS they offer co-lo at the exchange if you are really keen in getting the speed up its Ģ2500 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 Ģ350 a month.
You have to enjoy it.
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Hacked,
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.
given that I work for CQG I will not be going into details as to why we're better than most other feed and charting products out there (dont want to be blames for blatant advertisement). I do agree with you, however - take a demo drive and see what you think. Given your charting style I'd recommend you to play with Constant Volume Bar charts, and do make sure to understand all of the parameters associated with it. In case of any question call CQg support, they'll be glad to help.
Continuum is division of CQG that is focusing on partnering with other firms and providers that neeed parts of CQG system, for instance - Ninja Trader that has integrated with our Ticker Plant and Trade Routing network, ProphetX is offerring CQG Trading front End as part of their charting product, etc. We're open to these partnerships and will be happy to help those who need data feed, historical data or access to various exchanges world wide.
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Vendors are not permitted to use posts to promote their product. Answering technical questions is one thing, so long as they are not at all promotional.
Ah... ok, I understand! I was asking concerning the technically background. Since CQG is quite expensive I wanted to know which technololgy they use to compare the different data feeds and to get a better unerstanding.
Another question is, if they use CQG as order execution, so it would technically be possible to use it with any brokerage firm that offer CQG, or Iīm wrong?
expensive is a very relative word when it comes to CQG... if their execution is the difference between you making $20K/month vs. $10K/month... then they are well worth the $2K per month IMO... please keep in mind that many that use CQG and trade professionally, make that amount or more daily... so $2K is just the cost of doing business, a drop on the bucket when you can trade professionally and your account size requires the level of execution and reliability.
as long as your FCM supports CQG, you can trade with any IB that works with the FCM that supports CQG... i will make it more interesting... you can even have more than one FCM(separate ones) and use one CQG IC... I have not done it, but when I asked I was told that it would be possible.
3 people maybe hard. I know CQG offers discounts at a level of 5 screens. But then - try calling your broker, if you do decent level of business some brokers are covering cost of CQG IC for their traders.
I dont think they negotiate .... it is just like having a bloomberg terminal, everyone pays the same regardless of who you are (large or small as long as you can afford it) ... but I can ask the rep that I have dealt with...
personally, I still like MD for charting.. and I prefer their CQG Trader with Advanced features.. I get the execution, just no the charting.. but mostly because I could not get the hang of the IC piece for charting during the 2 week trial.. just not enough time to work with the platform overall.
as an FYI, crossland is the only FCM that I came across that would allow the advanced features on CQG Trader to be activated, and that would also rebate the transaction fees after the $395 for the trader is hit in fees.. everyone else just keep charging one for transaction fees that dont really exist after certain amount.
but at the same time I like tradevec a lot, specially now that is beginning to mature... I am waiting for their latest upgrade to see the major changes coming, but that is another story...
Yes! Together with the cheapest commissions I could find that's one of the reasons I went to Crossland. They support all the tools of the professional and are honest in calculating costs for it. I went with Howard from deepdisounttrading.com. There is no better service than them imho.
Crossland on the other hand is not for the newbie trader, in fact, I don't think they really care about new traders, brokers websites are normally all about getting you into trading, not with crossland. They are also 4 times bigger than for example Velocity, and cheaper.
Aside from the fact that CQG now offers data for NT; their DOM trader has been available for a reasonable price (w/o charts of course) for some time. Frankly I found it a little clunky...prefer TT. I don't fancy NT as a front end either unless it proves stable. I've seen how, ahem, at least one broker allowed traders in back room to share a feed (like monitors strung on Christmas lights). Everyone paid a third. DTN seems fine to me. You need at least a remote connection to broker/exchange to compete with scalpers.
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I like velocity, and I like crossland... give crossland the acct mgmt platform from veloticy and you have a match made in heaven.. the only other FCM with a decent platform that I like (and keep in mind this is a personal choice) is vision financial... advantage(IMO the best out of all) but has the worst acct platform I have ever experienced.
Crossland is not that big though, so not sure where you get that data from... in terms of customer funds they have about $120MM as of Dec 2010... compared to Velocity with about $74MM... they are better capitalized overall, 8 times better than Velocity ... still, not sure how you got that they are 4 times bigger.. anyhow, they are good overall...
I dont like RAND for account mgmt though, kind of like the more up to date acct mgmt platforms like what velocity/vision/ibkr/amtd(tos)/oex/etc uses... many of the FCM's are still on the 20th century when it comes to account mgmt platforms.. that is the only thing I would ding CROSSLAND for... the use of RAND for acct mgmt..
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Am tossing around some ideas for an upcoming CQG webinar, will you guys please let me know in as much detail as you can any particular topics or items you want to be focused on....
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Big fan and user of CQG for a long time. Maybe have them discuss the different types of order entries available through CQG vs the "average" order entry DoM's out there. I think many traders fail to utilize the importance and advantages of different order entry tools that are available out there. Maybe have them discuss their "Study Following Order System".
Cheers,
PB
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it will be kind of hard to pick one, but I would be interested more on their autotrading/signal eval/system based tools...
they have a lot of videos on using the platform and a few of their product specialists have videos as well on specific functionality.. but I rather see indeppth details on the functionality they are discussing on the videos from their product specialists..
I think this is a good idea. IMO, a retail futures trader can't do better than CQG. PB mentioned smart orders, which are nice. Another feature is TFlow, but the concept of volume delta is already covered extensively on this site. The most appealing aspect of CQG, at least for me, is stability, data integrity and order routing (which is excellent). Things most beginning traders neglect, but they are critical if you're serious about trading. I also like that you can get years of tick data with their historical API.
I'm planning to switch from X_Trader to CQG in these days. I'll try CQG and I'll tell you my opinion. I use velocity futures but in the last month I'm experiencing lag on Eurex with all platforms with TT datafeed and It's the reason I want to try CQG. Velocity futures told me that is an issue relative to TT's EUREX server and not all customers have that issue. they're trying to solve that but I still have it.
I have to admit, CQG Trader is pretty cool and light. I was testing today what trading would be like over a cellular connection, since that is part of my DR plan, and I have to admit that it was pretty snappy.. even into todays close it was very, and I mean very responsive.. to some extent almost (and I do say almost) the same as my lan connection.
Anyhow, I figure I share.. CQG rocks.. and so does tradevec... but over cell phone CQG rules.
Reading through this thread makes me wonder. I started out as an intern watching and learning from traders inside a firm and outside individually.
To me, the platform is a crucial foundation to trading. You have to have confidence in it. There has to be excellent customer service. Nothing less will do for me. I experienced them all, did my own research. and have been using CQG since the late '80s.
I don't know about others here or how they do things, but I like to keep things simple, dependable, because I like to focus on my work. Of course I like to try out new features and things over time, but rarely do they make me a better trader.
I completely agree... that is one of the reasons why I have been using Tradevec on TTFIX now for almost a year for my order execution with MarketDelta for my charting... I would love to use CQGIC overall, but the issue is $2K per month while trying to learn the platform is not realistic... the platform has so much to offer, than to fully use it one has to spend lots and lots of time using and learning it... but IMO, it is the most complete platform out there, even more complete than XTrader or even TradeSignal... I would use the full blow CQGIC in a heartbeat.. rather than the CQGTrader as a backup account.
I've used CQGIC (company paid for it) and I LOVED it. Most complete platform there is. However the $2K price tag is hefty for a small retail guy. If it wasn't I'll be back in a second.
I have recently switched to CQG Trader for order execution (use Investor RT and Updata for charting) from TTFix and will never look back. So much better. And it keeps the door open in case I'll grow up to Integrated.
I'm still using CQG trader with velocity....I don't like CQG and its DOM but it is fast and reliable..so I'm still trading with it.
I have been trading with globalfutures for more than 4 years and margin and commissions are comparable with velocity, but they don't have x-trader for free. I left globalfutures because everytime there was a technical issue (not for my fault) assistance was totally incompetent and I lost a lot of money. Globalfutures, anywahy, shouldn't be affected from eurex lag problem.
Since each platform has it's own characteristics, the platform itself can affect your performance. Some have actually hampered me. So it's always best to find out what works for you. Everyone is different.
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I'm pretty sure its not java based.
