Confused: Different FOREX quotes from brokers

Discussion in 'Forex Brokers' started by Pentaquark, Oct 23, 2007.

  1. Hi everyone,

    I'm a bit confused right now du to the following: I`ve been developing an auto system with free tick data from Gain Capital...will be implementing the system with Interacive Brokers and have been playing around in an FX Account at Oanda.

    Now this is what happened today:
    For the first time I opened a Oanda and IB demo and checked the EUR/USD quotes. Oanda Ask was at 1.42465, IB Ask was at 1.48060...thats a 559.5 pip difference!!!
    The graphs are totally different too...on Oanda the pricespan over the chart period is 35 pips, on IB it's 500 pips. On Oanda EUR/USD was going down, on IB up.

    I'm really confused! Is there a reason to all this...or is it that I have overlooked something substantial which makes me look like a complete idiot in this forum! ;)

    Thaks everyone for the enlightment!
  2. GaryN


    Somethilngs not right. Im using Oanda and IB and the charts are pretty close. There is a difference in the bid/ask most of the time but its not usually more than a couple of pips. Are you sure your not looking at futures quotes on IB?
  3. cstfx


    Have you opened a trading account with IB and you are using their paper trading feature for their quotes, or are you using the demo they supply on the webpage?

    The demo uses BS data. It is only there to show you how the system works.

    EURUSD has NEVER been that high.
  4. The IB data was with the demo they supply on the website. And should definitely display EUR/USD over the IdealPro execution system. I thought it mirrors the actual environment as well as the data (maybe with a built in lag), but I would't have thought that it's off by so much!
    I'm currently finishing my application with IB so I'll have peace of mind soon about any insane data differences.

    Thanks for confirming my thoughts, that these pictures I took are just surreal!
  5. cstfx


    Yeah, just checked, you are using the DEMO platform, you are not using the paper trading platform which you only get once you open an account. To get accurate quotes on IB, open the account sooner rather than later.