Comparing data from two forex brokers shows differences in data feeds can have a significant impact on testing and trading — especially short-term time frames. A common experience for many FX traders is trading a system through different forex brokerages. Because the spot FX market lacks a centralized exchange and is traded “over-the-counter,” forex brokerages can construct their data feeds using any liquidity providers (typically banks) they want. As a result, the exact price ...