Warning: brand new, just getting my feet wet.
I started paper trading a few weeks ago with thinkorswim. I’m still researching/playing with platforms. One think I’ve noticed many people say is thinkorswim doesn’t have “good data quality”. What exactly does that mean? Bid/Ask delay?
Yes, in general. They may also be referring to effective updating of the broker pip spread as well. You may want to jump down to the Forex Brokers sub-forum and search for threads on thinkorswim or check out other suggested brokers. There’s a ton of them so there’s no reason to settle on one that can wind up losing you money.
Edit: “Good data quality” is sort of too general to really nail down what the original critic meant without more information.
Thinkorswim is not a bad plattform. There are not really a spot forex broker though so spreads can be wide. There is also a 10 ( I think) minute delay on the papermoney plattfrom. This is why most say there data is bad. IMO there are good but for spot forex there is better
they filter and aggregate data, this causes wrong volume and delay as their servers process and filter the information. thats why people say its bad. TOS is really an options platform for which it is really amazing. Other then that as a former user, i dont like it.
If you fund your tos account, they will change your papermoney data to real time, upon request. As for data quality, I never had a problem with them. You should place little weight on anyone’s opinion and test it out for yourself, go ahead and compare them to several different brokers.
[QUOTE=“remingtonl;479305”]Warning: brand new, just getting my feet wet.
I started paper trading a few weeks ago with thinkorswim. I’m still researching/playing with platforms. One think I’ve noticed many people say is thinkorswim doesn’t have “good data quality”. What exactly does that mean? Bid/Ask delay?[/QUOTE]
Dont start with them
Your going to pay more commissions than your profit
If you want to trade stocks
Deal with intl fcstone
But forex is better
Its 24h with high liquidity
If you want to become a day trader
Again forex is more volatile
But if you want to invest your money, like many share holders
Trade with thinkorswim
They claim to be non-commission for most fairs if I understand what they’re saying correctly.
As for the data delay I’m fine with that while trading paper. However is that really concern? I’m assuming the delay is uniform in bid/ask/mark pricing and timing of mock order execution.
If you fund your account, they will change your papermoney data to real time upon request.