As fx is a de-centralised model, I presume that different brokers get their price feeds from different places. I was wondering: a) is there any consistency between the prices that brokers receive; and b) is there consistency between the prices we, as traders, receive from different brokers? Let’s, for example, say I was trading live accounts with two different brokers … I know prices wouldn’t be identical, but would they be close enough not to make a significant difference?
There must also be one or two high level entities which ‘control’ and synchronise the prices that are pushed out to the market … (I’m assuming this as there generally are in these sorts of models, but I don’t know for sure!)
I have read on a number of occasions that [I]some[/I] brokers manipulate the prices quoted to their customers for their own benefit … MT4 seems particularly prone to this, although I don’t see why this shouldn’t apply to proprietary platforms as well. Is there any truth in this and what could I do to ensure this doesn’t happen?
Any insights gratefully received … regards to all,
Dan