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Charting and Data Feeds or WTF why are my Forex charts different then yours!

Discussion in 'General Forex Talk' started by Sazu, Feb 22, 2012.

  1. Sazu

    Sazu Corporal

    Jan 12, 2011
    Likes Received:
    This is a observation that I made that is bothering me. I decided to share this with you folks in a effort to maybe find a resolution or to make enough noise for Brokers to provide accurate information.

    To begin I make reference to Sive Morton and his wonderful briefings that I have learned so much from and appreciate immensely! Recently I was listening to one of his briefings and noticed something that bothered me just a bit, my charts for the exact same time frames were different then what he was displaying.

    In looking closely at the 15M, 240M and even on the daily TF, I noticed that often times during these periods the market level on Sives charts (CQG) was higher then (PFGBest) by almost 20 pips and a few times as much as 60 pips. So I began to do more research and found that many more times then I would like the numbers did not match up. In talking with my Broker I was told that all data feeds are independent and therefore most brokers charts are going to be different. Wow that is really nice to know that we are not getting accurate price quotes, but in fact price quotes according to the number of subscribers that brokers has actively trading!!!

    Based on that answer I decided to take it one step further in trying to find out why this information is so often times different among brokers. The answer was simple, there is no one source that provides true market data to the end user. At least that is what I was told by IBFX (now someone else), PFGBest, FOREX.com and on and on. Sure you can subscribe to various data feed providers but again unless you know who really is providing accurate information, you are back to shooting in the dark.

    At the end of the day who’s price is accurate? I can't accept that in today's market and with current technology something as simple as data uniformity cannot be achieved. If you think about it, the closing price provided by your broker may (Will) actually be different from another broker. So how can we be certain that the charts accurately reflect the true market levels? Simple, we can't!

    Is your broker rigging the price? Are they manipulating prices to benefit them while robing you? Or is this method of data feeds in need of a overhaul to achieve some sort of standards? They say no there is nothing underhanded going on, the prices reflected are based upon their current subscriber activity.

    I personally would like to find out which Broker(s) or Data Providers actually provide the correct data! Not who is more accurate but who is actually the one with the right numbers, after all we know what a point here and a point there can add up to$$$

    At this time according to the CFTC there are no plans for a standardizing of data feeds for Forex, so in short there are no plans to make brokers provide accurate data for their clients and their charting software! (Did I ask the right office? )

    Do we want accurate data or are you happy with the current numbers? I would like accurate information, after all its my money!
  2. Pharaoh

    Pharaoh Colonel

    Oct 3, 2007
    Likes Received:
    Technically, no one is accurate. The prices your broker presents are supposed to be the real prices of your broker. Full scale market makers only hedge themselves against the real market every so often. That's why they hate scalpers - if the scalper opens and closes before the hedging occurs, then the scalper's win is the broker's loss. Even true STP and ECN brokers are just telling you the prices that come from their source of liquidity.

    Are those 20-60 differences in 4 digit pips or 5 digit 10ths of pips? If that's the difference in true 4 digit pips on the current hourly or lower timeframe, there's definitely something wrong. 2 pips (20 on a 5 digit broker) would be common, but 6 pips is a little high.

    Be aware that due to server time differences, 4 hour and daily charts might start on a different hour, so even the exact same data feed can result in different candles.

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