Recommended Forex Charting

[Eric Johnson 10]

I have met a developer, it can take years to make the platforms, and they can be expensive. It depends on the broker, they tell you mostly up front what their fees are. Some are shady, but by comparing live feeds you can see how/if the spread is manipulated.

I trade with MB Trading and it is a set fee per lot. Then there is the spread, as in all markets. Due to the high volume of forex, I find the fees, lot sizes and 24 hour trading, to be the arena I prefer. For example .45 cents one way and a .80 cent (variable) spread to enter, and you can use market orders with very little slippage (EUR/USD). A dollar per pip value. MB has a nice order platform and great service also, $400 to open an account. I have traded many instruments and Forex is where I will continue. I trade (watch) 4 crosses at a time.

Anyhow it is worth doing your homework and checking out services.

[Eric Johnson 10]

While on the subject of rates, I will add the following. To be clear on the previous post the EUR/USD spread varies from about .8 pip to 1.5 pip. MB Trading is a direct ECN so if you want to see what a real market spread should be, the demo is free with a spread tracker, or their website has streaming quotes. The demo is a bit buggy for trading hours and order tracking recently. The live platform is much better, although the live charting can crash the platform.. I like to play my demo account between real trades.

Many brokers just have a fixed spread of 2 to 5 pips. With a fixed spread you cannot beat the spread with a limit order, I think. Some shady operators seemed to charge the spread on entry and on exit of the trade. With MB you get in and are negative the spread, but get what you see for P/L on the exit.

[thalestrader 14]

I'm not sure why, but I get this 'forex bug' if you will and occasionally want to look at some charts. I'm not looking to open an account or anything right now, but does anyone have any recommended charting platforms for fx? Real-time is not necessary right now, so I'm open to suggestions.

 

Thanks guys.

 

You can get free data from Gain through Ninjatrader, and most brokers offer an MT4 demo that I have found useful.

 

Best Wishes,

 

Thales

[gavind 11]

Hi. In getting the data at Ninjatrader, does it cost extra? If yes, how much would this cost?

[prax 10]

Hi. In getting the data at Ninjatrader, does it cost extra? If yes, how much would this cost?

 

i dont use ninjatrader yet, but based on what i read it required price data feed subscription. google for esignal, or just move totrading platform sub thread.

[fxeconomist 11]

i dont use ninjatrader yet, but based on what i read it required price data feed subscription. google for esignal, or just move totrading platform sub thread.

 

I thought a broker is responsible for supplying the price feed. Otherwise there is no sense for newbies to have extra expenses on it while training. In this regard MT4 is considerably better.

Moreover, the quote flow goes from liquidity providers as forex is decentralized and prices are different everywhere. It is 1-2 pip difference with my Hotforex quotes and paid feed from CNBC feed, for example..