Forex Factory recently announced an update to its Broker Quotes section which will be now placed under the Markets tab.
This section is powered by Forex Factory’s Market Data System (MDS), an advanced infrastructure built from the ground up to give traders transparent, independent, accurate market data. All price data on Market is aggregated from multiple brokers.
In fact, the Markets tab serves as another broker comparison service such as fxintel.com as it shows real-time quotes and spreads from multiple brokers. Traders can now view spreads as they are, including during news and important events (if they find the time for it…), to see whether advertised spreads are actually delivered.
According to forex factory “Broker Quotes was initially designed to fit in FF’s left column – now it’s in a half-page format on the Market page, under the Composite Quotes table. With more room we’re able to show more pre-click information, the most useful of which is the spread (in pips) from each broker. The new Broker Quotes also includes FF’s recently-developed ‘Live’ setting, which streams data without interaction. Just check the box in the top right corner and quotes will update automatically. Like the original design, you can control the ‘Composite’ quote by choosing four brokers from a list of industry leaders, each whom supply FF with a direct connection to their standard retail rates. The Composite is very flexible, allowing for any number of broker combinations, including designating all slots to the same broker.”
Hi Michael,
I like it!
I think the guys from’ Forex Factory’ are doing a great job.
The Simple UI is great – The technology behind it is not so complicated…*** If someone interested…
Although it’s a great marketing tool – The Main problem with this kind of tool’s is that they are never showing s the ‘real market’.
From the following reasons :
1. its mainly show quotes from ‘demo accounts’
2. You can never know if the quote you see is the quote you are going to get. (slippage…extra…)
For ‘Algo traders’ & ‘institutional traders’ its always better to get a ‘fixed spread’ with the ability to see the amount of liquidity that available in the order-book.
But it’s a nice tool.
Maor L.