FOREX Real-Time Data Providers: Learn What Is Best For You
Many articles have been written on the subject of FOREX trading. The vast majority of them have detailed analysis advice as well as investing tips. What just few of them found interesting enough is the subject of selecting the right real-time data provider. Simply stated, this is the software platform used to deliver quotes and charts, together with various technical indicators for each currency pair. While real time FOREX quotes are available free of charge from many sources, as Bloomberg and Reuters, and various FOREX brokerage houses, the real need is for a comprehensive charting package. As FOREX trading is essentially an intensive short-term speculation, the Technical Analysis approach is what a professional operator needs. This must be delivered through a stable and reliable real-time charting platform. Even if the advertisements may be appealing for most of them, some key characteristics must be checked, in order to make sure you get the best price/content ratio. Ranging from free to several hundred dollars a month, they offer various levels of proficiency, regarding the number of currencies pairs, frequency of their updates, number of contributors and technical analysis capabilities. There is a huge difference between a provider that offers updates from just one stream every minute and another one feeding your platform 10 times a second from 50 interbank players. With the first one, you will obtain a valid quote but you will not feel market’s rhythms, which are of utmost importance in gauging various games people play when speculating. This is particularly important immediately following news announcements, as key players implement their trading strategies. While simple platforms will exhibit a “jump” in the price from one minute to the next, the professional ones will clearly show the tension and “fight” for each PIP in the arena. Usually, brokerage houses offer some basic packages free of charge and use their own data feed to update the programs, but you will have just limited understanding on what is really going on. Thanks to more than 10 years in the market, I believe you will be better off with a subscription to an independent real-time data provider. Even if the cost is higher, the performance is far superior. As this is their primary business, they tend to allocate important resources to you as a customer and of course, they update and improve their platform on a regular basis. Because I will avoid advertising any company names on this article, I will just invite you to consider asking the following questions before deciding. Web-based or desktop-based platform. While the first one is more mobile, the second one tends to have more features. Number of regularly updated currencies pairs. The key is to have at least the majors regularly updated (EUR/USD, GBP/USD, USD/JPY, USD/CHF), but of course, the more pairs the better. Number of real-time data contributors. The bigger the better, as this will offer larger exposure to the trading community. Number of updates per minute. The bigger the better (strongly influenced by your internet connection), as this will help you “feel” the market. Number of technical indicators and analysis instruments (trend lines, time intervals, Fibonacci Levels, printing, colours, etc…). The bigger the better, as your analysis potential is increased. Technical support available at least during market hours. It is of paramount importance to make sure you have a comprehensive technical support, in case something goes wrong during your trading activity. Also, ask if the service is free of charge or fee based. While there can be more to look for, if you follow the above rules, chances are you will end up with a better, more reliable and finally highly competitive real-time FOREX data provider. Bogdan Vasile Further FOREX education available at www.forex-arena.com Mr. VASILE is the founder and President of VORTEX Capital Management, a seasoned FOREX trader, member of the Securities & Investment Institute in London and author of the revolutionary SyncronDec™ training program used in his professional FOREX course. He is also the owner of www.forex-arena.com, a professional website, dedicated to FOREX analysis and education. |
Other Currency Trading Articles
An Introduction To Forex Trading Forex Trading, also known as FX Trading or Foreign Exchange Trading, is what happens when you trade one nation's currency for another. For example, if I go to the bank and exchange ten United States dollars for 15 Australian dollars, I have completed a simple Forex trade.The forex trading market is the largest trading market in the world. ...How To Profit Trading Forex If anyone has ever told you it’s easy to make money in Forex they are misleading you. Successful traders have discipline, the ability to manage their money and understand the psychology of the market. Trading is not done by guessing which way the market will move, but by using either fundamental analysis or technical analysis.To make an ...Forex Brokers & Online Trading There is one important thing you will need to do before you start your Forex trading career. This is, you will need to set up an account with what is known in the trading world as a Forex Broker. Once you start your search for the perfect broker, you may feel there are too many of them who offer their services online. Deciding on a broker requ ...E-gold Scams And How To Protect Yourself In the past one year e-currencies especially egold have become very popular in Nigeria. E-gold is an electronic currency backed by real gold stored up in a bullion somewhere in the United States and accounted for by weight. E-gold was established by Douglas Jackson in 1996.E-gold is used as a medium of exchange on the net. Many businesses ...The Top Four Forex Brokers This article contends that the best forex brokers are: Saxo Bank, GAIN Capital, GCI Financial Ltd., and CMS Forex. CMS Forex accepts no commission, demands a small amount of only $200 to establish a mini account, provides users with a Free Demo account, provides leverage as high as 400:1, and has a 3 to 4 pip spread on major currencies.S ...Can You Become A Forex Introducing Broker? Any individual or company that has contacts with individuals or other companies who might be interested in trading forex online, either by themselves or through a forex broker can become a forex Introducing Broker.Below are some typical examples of companies that can become successful forex Introducing Brokers (IBs). This list is not e ...FOREX Online System Trading- For Bigger Profits The rise of the Internet and cheap powerful computers has made FOREX online system trading a reality for any trader, novice or pro.Now its possible for individual traders to manage their funds and target 30 – 50% annual compound growth.The advantages of FOREX online system and how to choose a good one are outlined in this article. ...FOREX Trading Systems - Trading the Longer Term Trends for Bigger Profits How to Make BIG Profits with Currency Trading SystemsFOREX markets turn over trillions of dollars per day and are the world’s biggest investment medium.In recent years, FOREX trading systems using technical analysis to predict trend changes have become increasingly popular as a way of catching the big profitable trends.Catch ...Forex Mini Account Forex market has many advantages over other foreign exchange markets and due to its very high profitability potential most of the people around the world are looking for entering into the world of Forex trading. But one of the main worries of the new forex trader is if he needs lots of money in order to get accessed t ...What Are the Hidden Odds of Trading Anyone who is vaguely familiar with gambling knows that the house has the odds in their favor. Do some people leave a casino with large winnings? Yes, but that's because they left before they lost it back to the casino. If they had won and then continued to play long enough it is a mathematical certainty that would lose all of it back to the hou ...Trading Currency Through Online Forex Brokers Access to foreign exchange (forex), the most extensive market on the planet, is generally through an intermediary known as a forex broker. Similar to a stock broker, these agents can also provide advice on forex trading strategies. This advice to clients often extends to technical analysis and research approaches designed to improve client forex ...Advantages of Floor Traders - and How to Get Them Traders who make their living on the floor of an exchange have some things that I think are advantages. You see floor traders can draw from their senses. What I mean by this is they can use sight, sound, and speech. These are advantages that they add to their arsenal when trading. The pit on a trading floor looks very chaotic but there is a simp ...Bulk Email Marketing To save on cost, companies are choosing below the line marketing of their products and services and the promotion of their corporate image. They are reaching out to their target audience and market with regular e-magazines and e-newsletters through the aid of the Internet and bulk email marketing.Email marketing is effective and practical ...What's Fibonacci Forex Trading? Fibonacci forex trading is the basis of many forex trading systems used by a great number of professional forex brokers around the globe, and many billions of dollars are profitable traded every year based on these trading techniques.Fibonacci was an Italian mathematician and he is best remembered by his world famous Fibonacci sequence, t ...Forex Day Trading Systems Usually, we associate trading with purchasing a commodity, bringing it home or to our business premises, and then selling it. Similarly, we purchase stocks and shares in the stocks and shares market, hold them until their value increases and then sell them off.Times have changed, and now trading can be done on a daily or even hourly basis ...A Look at Forex Market Makers The investor in the currency market takes for granted that a pair of currencies can be bought or sold at a moment’s notice. Once an order is placed with a broker, the trade is executed within seconds. It is, of course, not as easy as that.Whenever a pair of currencies is bought or sold, there must be someone at the other end of the trans ...Day Trading Basics A means to survive, an avenue to progress and vista to exchange thoughts, ideas and feelings… ‘Trading’ is perhaps as old as human existence on earth. It all began when the primeval man began swapping small useful items with each other in order to live and fulfill many of his needs. The time that followed saw a persistence and enhancement of thi ...FX Trading Trading money in the global markets can be great way to make more of it, but it can also be a lesson in how to lose money quickly. More than $1 trillion is traded every day on the foreign currency exchange (Forex), and yet no centralized headquarters or formal regulatory body exists for this form of trade. Foreign currency exchange is regulated ...A Comprehensive Forex Broker Register A comprehensive forex broker list includes investment banks with dealing rooms, commercial banks with treasury operations, and online brokerages that serve a larger market. The investment banks with forex trading capabilities include Morgan Stanley, Merrill Lynch, Goldman Sachs, Salomon Smith Barney, Lehman Brothers, Credit Suisse First Boston, ...A Day in the Life of a Forex Trader Are you looking into breaking into the field of professional foreign exchange trading? Or are you already a forex trader doing it regularly? Either way, this article may be of interest to you. The forex trader is a different breed of human being. They utilize the markets to earn a living everyday. We have a look into the insight of a day ...Trading Volume-Window to The Soul of Markets Traders often over look trading volume, they pay it lip service, but they do not grasp the effect it can have on their trading system. When I was first told this by a friend who was trying to help get out of a slump, it didn't sink in right away.I thought that the volume was interesting, but I did not see any great need to use it. It didn ...A Modern Economist's Bartering System Forex or foreign exchange is a growing industry in the economic market. Currencies are traded for another, thus making the foreign exchange market the largest in terms of cash. Because of trading between one bank to another, not to mention the trading between multinational corporations and government, between financial markets and institutions, ...Commodity Trading - Advantages and Disadvantages What Is Commodity Trading?Commodity futures markets allow commercial producers and commercial consumers to offset the risk of adverse future price movements in the commodities that they are selling or buying.In order to work a futures contract must be standardised. They must have a standard size and grade, expire on a certai ...Forex Markets - How Do These Work? There is so much talk about NASDAQ and NYSE, but how many people are aware of another similar market, called Forex Markets? Forex Market has ten times the average daily turnover of many similar global equity markets. Also, foreign exchange markets have thirty the times of the daily volume of NASDAQ and NYSE. Markets are also the most liquid mark ...Online FX Trading In online FX trading, traders look for a currency that offers the highest return with the lowest risk. For example, if a nation’s financial instruments, such as stocks and bonds, offer high rates of return with relatively low risk, then traders who are foreign to that nation want to buy that currency, thus increasing the demand. Currency is also ...Is Trading E-Currency a Legitimate Business? When I first came across the e-currency trading business on the advice of a friend, I didn't take the opportunity very seriously. It appeared to be just another "hyped up money making scheme." From what my friend was telling me it seemed too good to be true. However, being naturally curious and with a deep desire to profit from the internet, I d ...Futures Trading: How Fortunes Are Made If there ever was one business that has made a lot of people a lot of money it is futures trading, also known as commodity futures. This is one business that has made millionaires and multi-millionaires in a very short time while starting up with relatively small capital investments.Just what is a "futures trading"? Loosely defined, a fut ...Trading Futures: The Wise Are Wary No doubt you’ve seen the late night commercials extolling the virtues of trading commodity futures. People have made millions with small investments almost overnight. Read the fine print: Results are not typical. Trading commodity futures can result in enormous profits but it is a tricky business. Only those with money they can afford to lose sh ...The History of the Foreign Exchange Market IntroductionThe foreign exchange, FX or forex market, as we know it has been evolving for hundreds of years. It is believed that the concept of banking first arose in ancient Mesopotamian times. Royal palaces and temples were used to store harvested commodities which in turn created the need for receipts. These receipts were used f ...Forex Futures Trading - What Do I Need to Know About Trading Forex Futures? In recent years there has been a lot of hype around forex trading. Forex refers simply to the foreign currency markets. This is the largest market in the world with over a trillion dollars a day being moved around in trades. It is also the world’s most liquid and global market with trading taking place 24 hours a day, seven days a week, in hundr ...What Are Some Of The Factors That Make Forex Markets Different? There are a number of factors that make the Forex market unique. Many of these factors can have tremendous benefits for traders worldwide. Two of the most important are the high level of leverage and the extremely high liquidity.Forex markets have some unique features that provide an incomparable potential for profitable currency trading ...
|
