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Why is IG showing differnt prices to trading view ?


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1 minute ago, cryptorex said:

Hi guys I’ve just noticed that es1! Mini futures is showing a different price completely on trading view and IG. Can anyone explain why this would be happening

yes, Tradingview use Oanda prices for FX and exchange prices for indices but you're not trading on the exchange.

see the last post in this thread;

 

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3 minutes ago, Kodiak said:

Its a apple and pears thing

true, I didn't spot that (did you see what I did there) but as in another thread I've watched broker prices orbit around the exchange price even by as much as 10 points though only for seconds and with no consistency so unable to take any advantage from it.  

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Prices are different because you never trade the underlying market. When trading the US500 with IG you are not trading the ES futures contracts; you are making a bet with IG based on the prices of a market "they make" that mirrors to some extents the ES.

The data you see on the first screenshot is from the CME and shows the data of the current contract being traded (1). If you use ES-2 you would see the prices of the next contract in front, which trades at different prices. That data is proprietary of the CME exchange and costs 60 bucks per month for the E-mins only. 

To offer a spot price for that instrument IG does the following: 1) Get the data for the current contract 2) Get data for the next contract in front 3) Based on 1 and 2 they make a spot market usually between the two.

You might want to use the data from the exchange if you can afford it because the data that is offered to you is misleading. Imagine going short at 2999 because you want to fade the even number 3000. In reality you might be going is shorting when the market is actually trading at 3009. This part is mentioned in the section "Conflict of Interest" in the contract you sign when join IG. Think about that

Data from  the exchange also comes with 10 levels of the orderbook, IG strip that data from what it offers to you as well. 

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