Does the Volume & Number of Ticks depend on a Forex broker ?

kevinqc · Jul 13, 2010

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.

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.

RapidFireFX · Jul 26, 2010

You won't get any true volume figures in FX. A shop like IB might diplay a volume but I would not trust it.

Volume in it is OTC, is not disclosed.

TGpop · Jul 31, 2010

chances are the broker is only dealing with a few banks....you will never get the full picture/volume....

Shaar · Nov 25, 2010

Does the Volume & Number of Ticks depend on a Forex broker ?

LeeD · Nov 25, 2010

IB doesn't provide any volume either. The only forex broker who used to provide volume and market depth was HotSpotFX but they have gone institutional now.

Your best choice is FX futures on CME but they are a tiny fraction of the spot FX market (5% in EUR/USD last time I checked).

Wallace · Nov 25, 2010

kevinqc, you could use the currency futures for the majors and the 6E Euro FX specifically
for the eurusd and it has the highest vol of the currency futures
there's a daily closure between 2-3pm PST
see daily volumes here: http://www.barchart.com/futures/ - Links - first icon

Xspurt · Nov 25, 2010

Tick volume is very accurate from a good provider. 6E gives actual volume. IB has spot volume available and it is very good. IB's tick matches 6E and Spot volume almost perfectly.

Went Fishing · Nov 26, 2010

Quote from kevinqc:

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.

When exactly did you try to plot volume chart of EUR & GBP using FXCM data feed (date and time)? Please post a chart.

When exactly did you try to plot tick charts (date and time)? Please post a chart.

Please post a chart showing, "I use volume & tick charts for futures like ES, YM, NQ, Tf & other futures". What data feed are you using for those charts, and which broker is clearing your trades?

Any explanation will be highly appreciated