Different brokers different charts for the same pair and time frame

Here are 3 screenshots of Daily NZDUSD taken on Sunday from 3 brokers.
They all have significant discrepancies.
Which of them can I trust?




To all of them :slight_smile: They all come from different liquidity providers and basically don’t have to match between each other. Just avoid broker that have many “bad ticks” - sharp spikes on the chart that can easily trigger your SL (also known as SL hunting)

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Thanks,
but
who is SL hunting,
broker or liquidity provider?

I think you can trust them all. FX is not centralized. Friends of mine are using this lagging/leading phenomena between different brokers to arbitrage trade. (example: Long XYZ @ $10 at Broker 1 and at the same time Short XYZ @ $10.10 at Broker 2. Watch the price changes and once both prices are the same at both brokers, close all positions and realize your net profits from the trade which is the difference between broker 2 - broker 1.)

[QUOTE=“andru123;713572”] Thanks, but who is SL hunting, broker or liquidity provider?[/QUOTE]

Hey

Have you read the section on brokers at the babypips school?. Forex Broker Types: Dealing Desk and No Dealing Desk - BabyPips.com
This might explain what you’re seeing and hopefully put your mind to rest. There’s differences in spreads offered and the way different brokers work and make money that affect what you see on their charts. Check reviews, speak with potential brokers, try the demo accounts, don’t fall for free deposits, and as said already above check for spikes on charts which can take out your stop loss as mentioned above this can be seen by some as “stop loss hunting” (SL Hunting). For me customer service was a big concern (your putting hard earned money into the bank of another) and I have to say out of the three I tried the one I chose and have used since had excellent service and there was always someone on live chat to answer any queries if necessary even in the early days of demo trading.

Hope it helps,

All the best,

Shyfx

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… don’t fall for free deposits…

Why should I avoid free deposits?

Andru, please study at the school here before trading live. If you trade with a lack of knowledge you are heading for a blown account.
Good brokers shouldn’t need to offer free deposits etc, and nothing is really free anyway. You will end up paying for it another way, possibly several times over.

[I]“The only shortcut in forex is the shortcut to failure”[/I]

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As far as i know, free deposits are:

1-not to be withdrawn

2-are used to give you more space and time if you are close to your margin call (instead of depositing, the free deposit feature can replace that)

3-however, free deposits are temporarily as i have noticed in some FX brokers

4- once the free deposit period is over they will calculate your margin as it used to be when you opened the account, with the new balance and equity (if you were close to your margin call BEFORE the expiration of the free deposit period, this means your chances are high to be margin called and all positions closed.

Free deposits can be tricky and dangerous.

Thank you, Oceanmen

I think you’re slightly confusing two different questions, here, Andru.

There’s “Which broker(s) can I trust?”, which is one question, and there’s “Which broker’s prices best represent those of the interbank market?” which is a whole different question (or at least, it can be.)

The people to whom you’re referring as “brokers” here are not actually brokers at all: they’re [I]counterparty market-makers[/I] (they trade against their own clients, making up and displaying their own prices for the purpose).

A “broker” is someone who executes a trade for you in an underlying market (in the case of forex, it’s the interbank market) to which you don’t have access yourself.

[U]Almost none[/U] of the companies commonly discussed in this forum as “brokers” is really doing that: they’re only [U]pretending[/U] to be “brokers”. In contrast to real brokers (such as “Interactive Brokers”.)