I just checked the End of Day price for forex-EURUSD in 3 different software. They all report different prices: April 8th: VTTrader2: 1,34929 Metarader5: 1,34984 Amibroker (from finam.com): 1,3626 April 9th: VTTrader2: 1,33595 Metarader5: 1,33572 Amibroker (from finam.com): 1,33480 I thought that it could be some hour difference, ie GMT vs EST or something like this. BUT April 9th is end of day AND end of the week. They should all report the same price. Any ideas? What site/source can I check for reliable price?
In a 24 hour market you need to define your own "EOD" since there is no official session close. Most firms use 17:00 EST to break the daily bars, but there are many that use another time. There are bound to be timezone related differences.
It depends upon the settlement time for each FX broker... I've seen some FX brokers set settlement at 4pm EST, others at 6pm, others at 21:15 UTC, but most seem to use 5pm. You are also talking about a relatively illiquid time too, so many banks etc. would have closed up and would not be submitting bids/offers. If you really want a standard price, trade FX futures.
A very similar problem: I have installed and run both MT4 and MT5. I notice that the price action is not exactly the same. A very specific example I noticed is the following: Today (April 13th 2010) at around 11:30 GMT, there was a low at EURUSD. According to MT4 the low was at 1.35848 while MT5 reported it at 1.35843. I assume this shows that the Metatrader servers are not transmitting ALL ticks to all clients. Different clients may receive different ticks and may form slightly different candles (up to 0.6 points). Probably this happens with all data vendors.
I woudl be surprised if the two platforms showed exactly the same data. That would be an absolute miracle...