Thanks for the postings, we appreciate any debate on our pricing conduit.
Taking a look at the post from neosouvik:
The pricing was over NFP on the 6th of December 2013. As you probably know, MT4 only shows Bids on the charts (the price you sell at). We have 3 main gold price makers on our Currenex who push through liquidity onto our MT4 - over NFP - gold liquidity generally drops before it's pushed back into the markets.
Looking at the charts and taking two different scenarios:
1. If you are long Gold before the data - why is our pricing worse? With your other broker the price is slipped down to 1207 area, while Price Markets gold price hit a low of around 1213 (that's around 6 USD difference). If you would be long into data - it would be less risk of margin call or bad stop losses getting hit with Price Markets. As you see market picked up when liquidity got into play and it got back to pre-market levels.
2. If you are short gold before data - this chart doesn't really show you how you can cover it - because it's just showing the BID. However, if our bid was what the charts displays, it means our Ask price (the price you buy at) would be around the same figure. Comparing it to the other chart, the real market had no interest in dealing - so the other chart you are displaying is most likely an e-commerce feed - which rarely has an actually intent to deal behind it.
Regarding sirius1fx post:
How would pricing over NFP affect your over-night positioning?
Regarding FX and direct market pricing:
We provide no last look, direct pricing from our pool of banks who provide interest-only liquidity - meaning the price you see has someone on the other side with an intent to do the deal with you. Getting a lot of top of book quotes, but no real intent to deal is not important - although it makes the charts look nicer.
In the 'real' FX market - what matters is interest-only - banks, hedge funds and other institutions pay big money to access pools where they know that there is an interest behind the prices they receive - because when you are planning to trade - all you need to know is that the price you see can be dealt on.
Our direct banking relationships enable us to provide this and we are one of the few prime brokers in the world who actually display the names of each counter-party on Price Markets Currenex - because we understand that transparency in pricing means everything to our clients. That same pricing is pushed to Price markets Dynamic MT4.
More than welcome to post more questions. All the best! /Alex