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I've never traded FOREX before (just futures) but decided to move into one looking for a kind of diversification + time zone issue.
I'm with IB but use Kinetick as a primary data feed for Ticks (NT7). I also use Kinetick as the 1-st connection as I need Nq and ES UpDown volume and issues indexes that IB does not provide data for.
I'm confused with the thought of Kinetick's FOREX data. I've heard that FOREX is OTC market. I trade with IB as a broker. Will Kinetick's data correspond to IB's quotes? (IB does not have spreads, they use commissions instead).
In other words, Is it wise to have Kinetick as a primary data source for FOREX?
Kind regards,
Serge
Can you help answer these questions from other members on NexusFi?
No, when you trade a decentralized market like spot forex, you need to use the same data source as your execution broker.
Depending on your exact requirements, you might consider micro-future currencies (M6E) as an alternative to spot forex. They are still on the regulated and centralized futures exchange, and Kinetick data would still work.
That's the best way to go, however it depends what you need the data for. your IB quotes will reflect the liquidity posted by IB and its LPs, so will reflect accurate data as far as checking your stops on the chart, and pricing related to your execution with your broker. Most often data vendors merge different OTC providers creating kind of average data, little more effective to apply some basic technical analisyst.
