I’m shocked to have been unable to find two charts that are identical in displaying past price movements in forex. Just a while ago I compared my MT4 chart to the etoro one in the exact time frame and found a discrepancy of 8-10 pips…which is really pushing it. Went to chartbook.com and again it was different, though the difference is less.
So asking all experienced traders here; are the charts in MT4 the ones to follow?To rely on?
stay away from eToro… Nothing accurate there at all.
Any of the larger ECN NDD brokers will have reliable charts.
Alpari, PFG Best, FXCM, GCI Financial, GFT, IBFX, MB Trading to name a few.
There may be differing candles, as the open times vary broker to broker, but the charts will be far more reliable than a bucket shop like eToro.
so what drew you to etoro in the first place? was it the awesome 5 pip spread on the GBP/USD, or was it that they are regulated in Cyprus?
As a noob I can tell you it was the simple platform lol…which broker do you guys reckon is good for a newbie to start with?
i’d recommend oanda, simply because there is no min. lot size, so you can use proper money management no matter what the size of your deposit is.
and as a noob, you should be trading with a very small account size. i’d recommend a small live account over a demo account but you’ll get various opinions on that…
At home I use the Interbank MT4 demo - it’ll do everything you need to do. Used to use the FXCM package before that. Prefer the MT4 myself but for a new trader the FCXM one will do everything you need also.
But I’ve heard Oanda charge quite a lot for withdrawals…any truth in that?
No they don’t Oanda is one of the best around, there’s probably around only 5 decent brokers to trade with and Oanda is one of them
It depends on how you deposit it,if you use paypal they will send it back the same way .I used a cashiers check from the bank and receive it back when i withdraw by check no charge.I recieved the withdraw in less than a week.
To reply to the original question, there are a number of reasons why there are discrepancies between FX charts. First of all, if you’re looking at broker charts, the broker’s charts display their buy and sell prices which are of course different for each broker, depending on the spread they want to charge. Secondly, brokers usually get price feeds from different sources that differ in accuracy and in speed of updating. So sometimes the charts will seem really dissimilar simply because one feed gets updated a few seconds earlier/later than the other.
Hi Etoro, so what basically is the advantage of etoro when compared to Oanda?
Money Is Everything. 
