Structure and composition of FOREX market participants - page 5
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Friend, are you aware that there is such a miracle as search engines? And that on the most notorious Alpari you can find articles "The whole truth about market makers" and "What is Prime Brokerage? Here's at least find them, add a local "trader's guide"(already advised) and read until enlightened!!! Or, if you can't put it down - don't torture the opa.
I have read it. But in general everything is as I have already imagined. The market makers are the main participants in Forex. No questions to them. I have a question for the broker how I can check the quote in the terminal from the market - that is, there should be such a technical possibility, say, on the site of a market maker... That is all. But everyone can claim that the ECN accounts are executed on the market, but how to check this in real time and on the history. I sent a request to the broker. You have 30 days. Then I will write back to the Central Bank to explain why a licensed broker cannot provide its clients with a reasonable mechanism for checking quotes from their suppliers.
PS I have now seen my broker on the moex website as a bidder on a par with banks. You can check real-time quotes on moex for rouble pairs. So it turns out that each country's currency exchange shows real-time quotes of its country's currency against the currencies of other countries. This is already something! On the other hand I could not find a broker on the London Stock Exchange, it seems that the quotes from London come from one of the member companies of the London Stock Exchange? For example VTB or Alfa, they are there, but of course not necessarily one of them is a supplier. Now I am looking for GPB quotations on the London Stock Exchange for the theoretical possibility of reconciliation of quotations. Couldn't find any - made them an information request too, let's see what they reply.
So, let's compare the terminal quotations on the demo account and the MOEX quotations
In the terminal:
MOEX (MICEX).
In the terminal MT5 demo on the currency pair USD/RUB as of 20.04.2017 17:00:00, timeframe H1
Opening price 56.228(0) (less by 0.0895 )
Maximum 56.248(0) (down 0.0820 )
Low 56.050(0) (fall 0.1000 )
Closing price 56.148(0) (down 0.0520 )
According to MICEX (MOEX) on the USD/RUB currency pair as of 20.04.2017 17:00:00, H1 timeframe
Opening price 56.3175 - 4 decimal places.
Maximum 56.33(00)? I take it there should also be 4 decimal places
Minimum 56.15(00)
Closing price 56.2(000)
What is the difference in rates for the same instrument for the same measurement period? I'll go and read at my broker - somewhere I've seen information that for demo accounts the quotes may differ from the market ones... )))
But the tendency for demo account terminal (or broker) to under-quote is clearly observed.
If I had set TakeProfit at 56,3000 when working with the instrument on the demo account, the demo account terminal would not have worked the TakeProfit on 20.04.2017 at the 17 hour bar and closed the position to lock in profits, that is, underpricing changes the outcome of the trade.
Now let's see, what if I had set StopLoss at 56.1400 - at real prices on the 17 o'clock bar my StopLoss would not work and the position would remain active, while according to the quotes of the demo account terminal my StopLoss would work and the loss would be fixed with the closing of the position, similarly underpricing by the broker on the demo account terminal changes the trading outcome.
So, let's compare the terminal quotations on the demo account and the MOEX quotations
In the terminal:
MOEX (MICEX).
In the terminal MT5 demo on the currency pair USD/RUB as of 20.04.2017 17:00:00, timeframe H1
Opening price 56.228 (less by 0.895 )
Maximum 56.248 (lower by 0.082 )
Minimum 56.050 (lower by 0.1 )
Closing price 56,148 (lower by 0.852 )
According to MICEX (MOEX) on the currency pair USD/RUB as of 20.04.2017 17:00:00, timeframe H1
Opening price 56.3175
Maximum 56.33
Minimum 56,15
Closing price 56.2
What accounts for the difference in rates for the same instrument for the same measurement period? I'll go and read at the broker - somewhere I've seen information that for demo accounts the quotes may differ from the market ones... )))
But the tendency of under-quoting by the broker is clearly observed, this is a demo account I repeat. But look, if I had set TakeProfit at 56.3 when working with the instrument on the demo account then my terminal would not have worked 20.04.2017 in the 17 hour bar TakeProfit and not closed the position, locking profit, that is, under-quoting changes the outcome of the trade.
Now let's see, what if I had set StopLoss at 56.14 - then on real quotes on the 17 hour bar my StopLoss would not work and the position would remain active, while on MT5 demo quotes my StopLoss would work and the loss would be fixed with closing the position, similarly under-quotes by the broker on MT5 demo changes the trading outcome.
What difference does it make, you make it sound as if you will open in one terminal at one quote and close in another at a different quote. What are you talking about?
What difference does it make, the quotes have to match the market ones. You don't have a clue. My broker has no claims to the broker, I remember he warned me that the quotes on the demo account may be different from those that are broadcast on the real accounts and I agreed. I'm just sharing my observations here to compare the demo quotes with the real ones.
I don't know, I think that market quotes guarantee a trader's protection against interference from the broker's "kitchen". You can always file a claim if the platform "registered" inadequate market quotes - at least the opening, closing, minimum and maximum prices on the bar of the corresponding timeframe must coincide with the market values. Of course, intermediate quotes can wobble due to different reasons - at least because of the spread... When we deal with the financial market, everything should be "one pip to one pip". )))
The FX market is the centre of liquidity for rubletransactions (info from the MICEX website).
I don't know, I think that market quotes guarantee a trader's protection against interference from the broker's "kitchen". You can always file a claim if the platform "registered" inadequate market quotes - at least the opening, closing, minimum and maximum prices on the bar of the corresponding timeframe must coincide with the market values. Of course, intermediate quotes can wobble due to different reasons - at least because of the spread... When we deal with the financial market, everything should be "one pip to one pip". )))
The FX market is the centre of liquidity for rubleoperations (info from the MICEX website).
What does the MICEX have to do with it?
What does the MICEX have to do with it?
I used to think that FOREX was an exchange, then I understood a bit. MICEX is a liquidity provider in the currency market for rouble pairs and my broker is a MICEX member, so he takes quotes for rouble pairs directly from the exchange.
And in the example above, I just studied how an under- or over-quote might affect the market value, and where can this market value be obtained other than on the liquidity provider's exchange for the instrument? Maybe I do not understand something.) Why eventhe closing price of USD/RUB of the 17 hour bar of 20.04.2017 does not coincide in the terminal with the exchange value? Do you have any explanation for this?
Or is the answer here again ? There are price stacks, supply and demand volumes, well let's say. Only why does the closing price of the bar in the terminal not match the market (exchange) value? How much of this quote difference between 52 and 895 pips can be explained by the spread?
I read it. But it's pretty much as I imagined it would be.
Even assuming you actually read it, the only conclusion you can draw from what you're saying below is that enlightenment has not arrived!!!! So, as I said before - repeat this procedure in a loop... ...until you win! It will come!!!
And while you're reading it, at least answer these (essentially key) questions:
1) What is the point of someone giving you a better price than it is on the stock exchange/CS?
2) What is a quote and how is it formed?
And - if you are trying to find any differences - do not try to find them in a demo account! All you'll find there has nothing to do with reality.
S.P. Enlightenment in one day will not happen no matter how hard you try!
So, let's compare the terminal quotations on the demo account and the MOEX quotations
In the terminal:
MOEX (MICEX).
In the terminal MT5 demo on the currency pair USD/RUB as of 20.04.2017 17:00:00, timeframe H1
Opening price 56.228 (less by 0.0895 )
Maximum 56.248 (lower by 0.082 )
Minimum 56.050 (lower by 0.1 )
Closing price 56,148 (fall 0.052 )
According to MICEX (MOEX) on the currency pair USD/RUB as of 20.04.2017 17:00:00, timeframe H1
Opening price 56.3175
Maximum 56.33
Minimum 56,15
Closing price 56.2
What accounts for the difference in rates for the same instrument for the same measurement period? I'll go and read at the broker - somewhere I've seen information that for demo accounts the quotes may differ from the market ones... )))
But the tendency of demo account terminal (or broker) to under-quote is clearly observed.
If I had set TakeProfit at 56.3 when working with the instrument on the demo account, the demo account terminal would not have worked the 20.04.2017 in the 17 hour bar TakeProfit and not closed the position to lock in profits, that is, under-quoting changes the outcome of the trade.
Now let's see, what if I had set StopLoss at 56.14 - then on the real quotes on the 17 o'clock bar my StopLoss would not work and the position would remain active, while on the quotes of the demo account terminal my StopLoss would work and the loss would be fixed by closing the position, similarly under-quoting by the broker on the demo account terminal changes the trading outcome.
Do not compare demo accounts. You have to compare real accounts.