This may be a very basic question but I just couldn’t find a straightforward answer to it anywhere. So here it goes.
What is real time or live data as it concerns the forex market? I have been trading demo and all the data that comes in seems to me to be live. Now that i am shopping for brokers for an actual account, it seems that one of the advertisement point is claiming that their data is real time or live. Doesn’t all data have to be live? So when people pay for this live data through esignal or reuters or someone else, it doesn’t make any sense to me. Live data stands in opposition to end of day data which is usually free as I understand.
So please, if someone can completely explain me these basic concepts then that would be extremely helpful.
Thanks
Real time isnt exactly live however live data is live to the second. If you go on the CNBC site and scroll right to the bottom they state
Data is a real-time snapshot *Data is delayed at least 15 minutes
So basically any data on their site is generally delayed as compared to live data in MT
That shows the difference between ‘real-time’ vs ‘live’ data. But what about live data in relation to EOD (end of day) data? Why would you pay for esignal data lets say if it is live while data from oonda or other brokers is also equally live?
Can anyone tell me what is the difference between live data and end of day data? Why would you have to pay for live data and not end of day (EOD) data?
I believe EOD data is exactly what is states. It updates at market close. VS real time.
But what then is ‘market close.’ Is it London close?
Currently, I think that live data or EOD data concerns historical charts. If a broker is supplying ‘live’ data, then that means you can view intraday 1 or 5 min charts from years back. EOD data may only supply daily charts when going back considerably. You wouldn’t be able to see price movements on a 15 min or an hourly basis on EOD data feeds. I just need somebody knowledgeable to verify this or disprove it.