Hi, I use volume & tick charts for futures like ES, YM, NQ, Tf & other futures. I tried to plot volume chart of EUR & GBP using FXCM data feed but it seems there is not enough volume & it takes long time to complete the bar. I also tried the tick charts & same thing. I did try it during different busy hours too. Since forex market is decentralized, does the volume of any pair vary from broker to broker ? Since IB is very popular, would the charts using their data feed would be better ? I am new to forex so any explanation will be highly appreciated. Thank You.
Volume different - yes IB is worse - it is a snapshot every xx milliseconds or something. Not even a real data provider, IMO. But I thought FXCM had about 4x as many "ticks" as IB personally. I don't really believe anything I see though from FX providers anymore. I suggest you have that bias coming into it.
i've no idea where fx brokers' price data comes from since there's no standard contract there'll be clients who're trading micros, mini's and lots so unless the broker were to diclose what's being traded and you could then break that data down to the size you'd want to trade you have no means of using volume for analysis you can obtain volume data for the 8 CME Globex curriencies
That Volume thing makes sense. How about the tick chart ? Also I have been following CME Futures contract too but unfortunatelt it also doesn't have much volume during non pit globex hours.