Lots of people who choose MultiCharts as there trading platform will ask what is the best data feed for MultiCharts, it’s a good question. One of the great things about MultiCharts is the fact that you can plug it into a number of different data providers. Ultimately this leads to the question “What is the best data feed for MultiCharts?”.
In my opinion and previous experience the best data feed for MultiCharts is clearly IQFeed. Don’t just take my word for it, try it for yourself!
IQFeed provide true tick-by-tick unfiltered data. Lots of data providers in the market today are often simply resellers of 3rd party data, your data comes from a chain as long a piece of string and often you will come across discrepancies in price simply because your playing a game of Chinese whispers with your data. It goes from one provider to another, to another and then to you. This is not an ideal situation for any trader and most of these companies will not be shouting about this, they will be keeping as quiet as possible knowing that the data you get could be completely useless.
All domestic data in IQFeed is sent direct from each exchange. They are one of the fastest domestic data providers out there because they simply don’t have a middleman. They own and manage their own data centre, which means that they don’t need to rely on 3rd parties, or co-location data centres. Because they manage their own data centre they literally can act in seconds to correct any potential issues. Other providers often simply cannot even come close to being able to do this because they don’t have the infrastructure or the bandwidth to handles today’s high volumes of data. IQFeed is a serious data provider for serious traders.
Let’s look more into why I believe that the best data feed for MultiCharts is IQFeed. Here is a brief look at the IQFeed feature list:
- Real-Time, TRUE Tick-by-Tick Data on US and Canadian Equities (NYSE, NASDAQ, AMEX, Canadian Stock Exchanges)
- Delayed Data on Futures and Equity exchanges you don’t subscribe to in Real-Time
- Delayed Futures Data (Real-Time Data Available for an additional fee)
- Real-Time Equity/Index Options and Forex Data Available for an additional fee
- Market Depth/Nasdaq Level II data available for an additional fee
- Real Time Index quotes
- Over 500 market stats/breadth indicators (TICK, TRIN, etc), most of which update every 1 second!
- 120 calendar days of tick (includes pre-post market) and several years of 1-Minute history (Forex back to Feb 2005, Eminis back to Sept. 2005, Stock/Futures/Indexes back to May 2007) retrieval for charting and time & sales data
- Daily, Weekly and Monthly Historical data (15+ years of O,H,L,C,V,OI data)
- Fundamental Data
- Delayed International Futures from Eurex, Simex, Euronext, BM&F, Dubai, Bursa Malaysia, etc (Real-Time Data Available for an additional fee)
- 500 simultaneous symbols can be watched with basic subscription (up to 1800 at a time available for an additional fee)
- Real-Time streaming news from RealTimeTraders.com, PR Newswire, and Business Wire (other newswires available for an additional fee)
- Customer Support you can actually TALK to – For free! We have plenty of support staff to answer nearly every call without a wait. Plus, the call is toll free in the US and Canada. Customers also receive RT chat support, remote system support, email support, forum support and VoIP support via Skype.
Also another reason why IQFeed is the best data feed for MultiCharts and one of the often overlooked advantages is the fact that you can use multiple third party applications at the same time. You can feed data into many applications at the same time without incurring extra charges.
IQFeed starts at $65 per month plus exchange fees for real time equities and delayed futures. If you want real time domestic futures as well just add $20 per month plus the exchange fees.
Let the IQFeed sales guys know your using MultiCharts and you can get a special arrangement to give you a 30 day trial instead of 7 days. Plus If you sign up using any of the links on this page you also save $50 on Startup Fee.
One other thing I forgot to mention was that they support the exchange fee waiver program so CME traders who use MultiCharts to execute their trades with a supporting broker can likely qualify to receive waivers on the CME exchange fees. This is a great savings opportunity. IQfeed sales guys can help you through this process.
We can also offer you a 30 day free trial of Multicharts.