Does it matter if your tick data is shown at the BID or the ASK price? I understand that Metaquotes shows at the BID, so I was wondering if it makes a difference. Could this be a way for the broker to make a couple of extra pips over the spread on every trade?
No, the difference between the bid and ask price [I]is [/I]the spread, not pips on top of the spread.
The only problem the price differences would cause is if you are using pending orders. On long pending orders you need to remember to use the ask price, not the bid price shown on your chart, when setting them up otherwise your trade will trigger a few pips before you want it too.
Let me clarify my question and apologize for not being clear initially.
I am looking at different brokers, platforms and data feeds and have found one platform/data feed where the tick price on the charts is actually the ASK price whereas, when I check others notably MT4 feeds their tick price is at the BID price. Should I be concerned if I went with the feed that quotes at the ASK price?
… And yes, I understand the difference between BID and ASK prices is spread. Thank you Phil;-)
Ah, I see what you’re asking now.
No, it doesn’t make any difference at all. Even if you broker moved all it’s numbers a 100 pips off from everyone else it wouldn’t make a difference, as long as your charting and trading with the same broker.