Real-time futures quotes
Eurex, CME, Euronext and the other futures markets distribute tick-by-tick quotes. WH SelfInvest shows these tick-by-tick quotes in your trading platform. Most other brokers, including Interactive Brokers, wipe a significant amount of data and distribute 1/2 second snapshot quotes.
What are 1/2 second snapshot quotes?
Futures brokers, who want to have save costs, remove 75% of the market data from the exchange's price feed. Snapshot quotes only show about 25% of all volume traded.They show the first few ticks of a new second, and then, after the bulk of the volume has been traded, one, final tick. They are a second or more slower than tick-by-tick quotes. Traders do not use 1/2 second snapshot quotes.
What are tick-by-tick quotes?
The price feed from the futures exchange shows every trade and price change. This feed is called tick-by-tick quotes. Traders only use tick-by-tick quotes. Correct back-testing, technical analysis and decision making requires tick-by-tick quotes. They are a critical success factor.
S&P 500 future quotes
This example compares tick-by-tick quotes (left) and half-second snapshot quotes (right). Note that about 75% of the trading volume on the S&P 500 is missing from the snapshot quotes.
Do traders need tick-by-tick quotes?
If you trade futures very occasionally you probably don't need tick-by-tick quotes. Keep in mind that tick-by-tick quotes result in superior order execution. This impacts your trading profits. One point better executed on the DAX future, for example, is € 25 extra profit. If you use technical analysis as a basis for your trading decisions or if you do volume trading you need tick-by-tick quotes.
Why you should avoid 1/2 second snapshot quotes
The absence of 75% of the trading volume in the charts and order books and 1-second delays negatively impact your profits. Consider these facts:
Traders cannot open and close their positions at the same prices as tick-per-tick traders.
Order execution is substandard. Slippage is frequent. One tick less on the DAX future costs you € 12.50.
All charts based on ticks are wrong. Range bars, tick charts, renko charts, and point-and-figure charts are unusable.
All charts are incomplete. Traders can be executed at prices they do not see in the chart.
Technical analysis indicators are wrong. Indicators based on ticks cannot be used. You will make errors in deciding when to open and close positions.
Volume trading is not possible. Market profile, Time Price Opportunities, Volume Profile, Price Action, the order book, and VWAP are unusable.
Back-testing is not possible. The differences between the real chart and the half-second chart make back-testing irrelevant.
Orders executed at prices not visible in the chart create permanent uncertainty and make trading unnecessarily stressful.
WH SelfInvest provides tick-by-tick quotes and market data.
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WH SELFINVEST S.A., founded in 1998, has a broker license (nr. 42798), a commissionaire license (nr. 36399) and a portfolio manager license (nr. 1806) granted by the Luxemburg Ministry of Finance. The company is supervised by the "Commission de Surveillance du Secteur Financier". Based on its European passport, the company maintains: a branch office in France (nr. 18943 acpr) which is also subjected to the supervision of the "Autorité de Contrôle Prudentiel et de Résolution" (ACPR) and the "Banque de France", and a branch office in Germany (nr. 122635) which is also subjected to the supervision of the "Bundesanstalt für Finanzdienstleistungsaufsicht" (BAFIN). In addition WH SelfInvest has a representative office in Switzerland, which is also subjected to the supervision of the "Swiss Financial Market Supervisory Authority" (FINMA), and, based on the European passport, representative offices in Belgium and the Netherlands, which were notified to the relevant competent authorities in these countries.