How much does marketmaker broker prices differ from EBS feeds?

Hello

As the topic says.

I know many marketmaker brokers use fixed spread, does that mean that they take their liquidity providers bid price and just add 3 (for example) pips to create the ask?

Can they sometimes steer the price to where they want? For example not having it breaking through a certain pivot point?

And finally, is there anyway to see these EBS price levels on an active graph? For example in metatrader. Just see that is, not trading on them, that’d be impossible, i know

I’m sure someone will be able to give you a more in depth answer than this.

However in my experience most marketmakers offer fixed spread but not guaranteed execution, so in highly volatile markets limit orders may get filled at a different price. What I do is check the bid/offer prices on a few different platforms to be assured of a representative price and also I think a few FX sites do live stream prices (FX Street may be one of them)

Yea, somebody should answer. It’s ridiculous to trade the FX market with marketmakers if you don’t have this knowledge

How long is a piece of string. Tom Yeomans used to pull a stunt where he put up 6 marketmakers side by side to show the differences which can be substantial. A market maker by definition can offer whatever bid/ask they want so yes they can influence the feed to you. They are taking feeds from their liquidity providers and use various algorithms to in turn send a feed to you. This will be at a price that allows them amongst other things to offset the trade in the real market at a profit. The only way I am aware of having ECN prices is have a full account with an ECN. Be aware that some ECNs now offer mini accounts but I am not at all sure what happens to the streaming prices you get. Some like Capital Forex give you a different platform (called lite) with a fixed spread, but others like Interactive Brokers do not. It seems to me that since the order cannot be laid in the real market and has to be routed differently for execution then spread and liquidity are different. You see this to some extent with MB Trading where they record the execution route on the log (not that it means that much to me). There is a lot to this technical side of the business but the bottom line is you have to be happy with your broker and their execution and it has to suit your trading style

Okay. I believe that if you’re gonna be serious about your trading, you must know how the broker is structured and how the price feeds are processed before they show up to you (on a basic level).

Where can I read about Tom Yeomans experiment?

Dont believe Tom runs his trading group anymore