Time Data Providers

FOREX Real-Time Data Providers: Learn What Is Best For You
By Bogdan Vasile

Many articles have been written on the subject of FOREX trading. The vast majority of them have detailed analysis advice as well as investing tips. What just few of them found interesting enough is the subject of selecting the right real-time data provider. Simply stated, this is the software platform used to deliver quotes and charts, together with various technical indicators for each currency pair.

While real time FOREX quotes are available free of charge from many sources, as Bloomberg and Reuters, and various FOREX brokerage houses, the real need is for a comprehensive charting package.

As FOREX trading is essentially an intensive short-term speculation, the Technical Analysis approach is what a professional operator needs. This must be delivered through a stable and reliable real-time charting platform.

Even if the advertisements may be appealing for most of them, some key characteristics must be checked, in order to make sure you get the best price/content ratio. Ranging from free to several hundred dollars a month, they offer various levels of proficiency, regarding the number of currencies pairs, frequency of their updates, number of contributors and technical analysis capabilities.

There is a huge difference between a provider that offers updates from just one stream every minute and another one feeding your platform 10 times a second from 50 interbank players.