Chart Comparison Of Three Brokers


Attached are the EURUSD charts of three brokers AdmiralMarkets vs OctaFX M1 time frame, AdmiralMarkets vs OctaFX H1 time frame, and AdmiralMarkets vs OctaFX vs PepperStone H1 time frame, respectively.

I see some difference among these charts, and I tried to highlight that too. I’d like to know if it is market making/manipulation or server issue? There are candles which have different Open/Close and High/Low.

I’ll be grateful if I could get some feedback on this.

In reality, in private retail forex trading, there is no such thing as the correct or accurate or official exchange rate between two currencies, there is only the rate that someone offers. Naturally two different brokers will offer different prices and this will at times lead to visible anomalies when candles start and end.

The price that broker A offers is not incorrect because brokers B and C offer different prices which happen to coincide.

Would you expect three different supermarkets to all buy bread wholesale at exactly the same price and all sell a loaf at exactly the same price?


Since forex is a decentralized market, there is no “one” price.

Price is determined by “how many you people ask”.

The best available (lowest) ask price and the best available (highest) bid price is whatever your broker (who is really a dealer) quotes you on their trading platform.

Every broker has their own pricing methodology, but in most cases, the variance these days are low since due to technology, they’d be quickly arbitraged.

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Hi @ajbozdar, Just to extend a little on what @tommor & @Pippo have correctly posted.

Retail Forex is an OTC product… There is no set price anywhere on the planet at any set time.

Very different to Share Markets where prices are globally set by a Stocks actual price…
ie: Apple Inc. (NASDAQ: AAPL) is say 113.16 globally.

Pippo posted a while ago a very accurate summary of the Retail Trading environment.
Actually have a read through Pippo’s threads and posts, there is some excellent factual information about these Markets.

Hope this is of help…

Edit: You think the EURUSD is bad… Have a look at Oil (XTI) back in the April when futures crashed…

A very valid reason, I’d accept. Thank you for highlighting this.

Does this mean candlesticks should be of same colour on all charts at least if not similar in size (OCLH)? What if one broker’s candle is bearish and a different broker’s goes bullish at the same time? Would you call it price manipulation instead of ‘‘what we ask for’’?

Many people changed their brokers assuming that they were wrongfully placed under losses. It is possible that some of brokers took benefit of the crash, but I’d expect that many were responsible. Some of other forums are full of negative reviews, and that leads to a very tough decision to choose a broker.

I am looking into Pippo’s article now. (Edit: I’m happy to tell that I already read the article yesterday. I pay more attention to reading than writing, but I actually love writing.)

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Since a dandlestick is just a visual representation of the price data, it’s hard to say.

You’d have to compare the different candlesticks and see how much they differ.

For example, with your bearish and bullish candlestick, what was the open price for each? How much did they differ? Same thing for the closed price.

You can also do external price checks from the institutional market:

I don’t think that there is anything like “one price”. Price is determined by the people asking for it.