MT4 and broker data ownership
Hi,
I have written a piece of forward-testing analysis software that I may be interested in sharing / selling to others in future. The software requires FX price information.
Currently I extract price information from an MT4 broker using a DLL on a minute by minute basis and then store this information in a database, periodically reconciling the stored data with downloaded CSVs from MT4. This allows me to keep up to the minute price data together with historical price data for a number of FX pairs. My software then uses the data I have stored in the database for analysis. If other individuals are to use my software, then they would also be making use of the data which I have previously downloaded/amalgamated.
My question is about ownership of the data which I have downloaded and stored. I want to know if I can use this downloaded data in my software if I was to share / sell the software to others freely or whether there are license implications associated with the data.
As I write this, I realize that perhaps any answer to my question might be broker specific. I have however read through all the terms and conditions from my broker (which I have to say was a thrilling read) and it appears to make no reference to data ownership at all although I am certainly no lawyer.
I'd be interested in anyones comments on this matter.
c
Ask your Broker if they give you permission to resell their data, I suspect not.
Thanks for your comment.
I think my question is more framed around the concept of whether they actually own the data and can resell it or if ownership of FX data is even possible given that the market is decentralized. After all as a broker, they are forwarding on tick-data from other sources themselves - as I remember the last time I looked each tick provides source information. Perhaps I did not make this clear in my original post.
I forgot to mention earlier also that I am not interested in the accuracy of the data as my system cannot trade and is for indicative purposes only (training and education) - it only needs to be indicatively market-like and not wildely inaccurate - it is in fact a demo a/c source that I'm presently using.
Fundamentally though - I agree I don't know for sure unless I call the broker.
c
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Hi,
I have written a piece of forward-testing analysis software that I may be interested in sharing / selling to others in future. The software requires FX price information.
Currently I extract price information from an MT4 broker using a DLL on a minute by minute basis and then store this information in a database, periodically reconciling the stored data with downloaded CSVs from MT4. This allows me to keep up to the minute price data together with historical price data for a number of FX pairs. My software then uses the data I have stored in the database for analysis. If other individuals are to use my software, then they would also be making use of the data which I have previously downloaded/amalgamated.
My question is about ownership of the data which I have downloaded and stored. I want to know if I can use this downloaded data in my software if I was to share / sell the software to others freely or whether there are license implications associated with the data.
As I write this, I realize that perhaps any answer to my question might be broker specific. I have however read through all the terms and conditions from my broker (which I have to say was a thrilling read) and it appears to make no reference to data ownership at all although I am certainly no lawyer.
I'd be interested in anyones comments on this matter.
c