Hi all,
Which brokers have New York close on their charts, ie the charts without Sundays, 5 day chart and are GMT / UTC -5 hours.
Is there a list anywhere?
At the moment I am only aware of the following:
FXDD
Oanda MT4
Please add to my list, I look forward to seeing some more!
Hi, Tom
FXCM-US meets your requirement. (I don’t know anything about FXCM-Australia.)
Regarding a list, I’m not aware of one.
Here’s an FXCM-US chart which I have marked up to show the Friday-to-Monday transition. If daily pivots were added to this chart, using FXCM’s built-in pivot indicator, new pivots would be calculated and plotted beginning at the green vertical lines on the chart (that is, at 5pm New York time, each day).
The 5pm New York start of the day on FXCM charts, affects time frames other than the Daily time frame. For example, candles on the 4-hour chart open at 5pm, 9pm, 1am, etc., to correspond to the 5pm-5pm day.
FXCM closes their platform and charts sometime between 4pm and 5pm, New York time, on Fridays. So, on lower time-frame charts, the last candle of the week might not run to 5pm. On the 15-minute chart below, the last candle on Friday 3/11 was the 4:00-4:15pm candle.
FXpro meets that list I don’t think Oanda MT4 does. IB daily charts close 2 hrs later then what you ask for, but its 2 of the slowest hours of the day so in practice the charts are very similar.
Just had another look at oanda MT4… yeah maybe it is not.
Its time is set to GMT-5 but not the chart.
How does that work?
Thanks Clint and Shr1k for your comments.
Here are some more that can be added to the list:
Go Markets
Alpari UK
FX Solutions Australia (FX Solutions US probably)
Oanda fxtrade is based on New York time
I have to say I’m impressed i.e. I had no idea that FXDD didn’t give you a Sunday bar (until I looked this morning). True enough. (I’ve not looked at the other brokers on the list).
Of course (and just to be clear here): I’m assuming we’re talking about the New York BANKING close and not New York TIME (New York midnight that is). If it’s the New Your BANKING close then Deltastock is also an option for you but the same applies as Shr1k has noted with IB i.e. right now, as Europe is observing DST, Deltastock’s daily close is 1 hour later than the New Your BANKING close (and when not observing DST then it’s two hours later). ‘They’ say that for FOREX: the New York BANKING close is when to calculate pivots for example. Others will swear by charts that close right on midnight GMT (IBFX for example). Not sure on this one although have to admit that I ‘lean’ toward using the New York BANKING close as oppposed midnight GMT.
The above being said though: it’s taken me YEARS to understand a bit of an ‘argument’ that I had with rhodytrader YEARS ago!!! LOL!!! As regards pivots: I USED to think that it made a difference but if you really think about it it doesn’t make any difference at all!!! All the price bars move relative to each other not??? So just because I may be trading (as an example) on a daily chart that’s a few hours behind New York time: MY price will still ‘obey’ MY pivots drawn if that makes any sense (I’ve checked this more than once but note I don’t use pivots at all). To me the problem comes in more with candlestick trading or chart pattern trading and indicators really. I still have access to my live account at my very first ‘scam scum under a rock bucket shop broker’ and their daily charts close ‘smack bang’ on New York TIME i.e. midnight New York. Sometimes ‘for fun’ I’ll login there to check the futures prices and because of the huge time difference a chart or candlestick pattern or indicator reading will be totally different to what I’m seeing on my charts (and they generate a Sunday bar which is of use to nobody)!!! So yeh: that’s why I trade trading systems that give the trades a REALLY wide ‘girth’!!! LOL!!!
Regards,
Dale.
AxiTrader is another one.
Five day charts are not available on MT4 on Alpari UK most are on gmt. fxcm.co.uk does use News York Close Charts
Is there a “New York close” broker with low minimum deposit ($25-50)?
