Question: Why Forex currency prices are different by each online broker and markets?
Market Prices you are seeing on MetaTrader4/5 maybe different by each brokerage firm.
Even if you are comparing the exact same symbol, it is possible that the prices are different at some moments.
It is because each brokerage firm has different liquidity providers connected to their trading platforms.
Liquidity providers are normally some big financial companies or banks.
They make their large amount of transactions every day, and brokers creates the bridge between retail investors and the market created by the liquidity providers.
The price difference is very common by liquidity providers or brokers, because each entity offers different bid-ask price to deal with others.
For example, TitanFX(an ECN FX broker) has a variety of liquidity providers available as below.
Some brokers may have only one or two liquidity providers.
Unfortunately, you cannot find out which market price your trading platform is quoting from, unless your brokerage firm is able to provide you with “audit trail” which confirms all execution details on the liquidity provider’s side.
For the list of MT4 and MT5 brokers, please visit the page below.
