Charts FAQ's

Why don't the prices on the charts match the prices on the Refco FX trading station?

Because the spot FX market is decentralized - meaning it lacks a single exchange where all transactions are conducted - each FX dealer (market maker) will quote different prices on their markets. Therefore, any prices displayed by a third party charting provider, which does not employ the market maker's data feed, will reflect "indicative" prices and not necessarily "dealing" prices. It is important to make a distinction between indicative prices and dealable prices. Indicative quotes are those that offer an indication of the prices in the market, and the rate at which they are changing. Market watchers, such as S&P or ESignal, compile indicative quotes as a proxy for the actual market movement. These prices are derived from a host of contributors like banks and clearing firms, which may or may not reflect where Refco FX's market is. Although these charts are not an accurate reflection of Refco FX's market, they can justifiably be used for technical analysis, since the overall trends in these markets will ultimately be the same due to the macroeconomic factors that drive the FX market as a whole. All quotes shown on the Refco FX system are dealable prices, where Refco FX as the market maker is willing to buy /sell the currency pair. Refco FX feeds real time executable quotes through our own proprietary dealing platform, which update instantly on the slightest market move. Therefore, viewing the prices in the dealing rates window of the Refco FX trading station will give traders an accurate picture of where Refco FX's market is. Those wishing to use a charting package that employs the Refco FX data feed should consider the Stratagem charts or FXTrek II charts.

How is indicative Data Gathered? What is it?

Before online trading technology, such as the Refco FX trading station, brought price transparency to the market by providing live streaming dealable prices, services like Reuters were instrumental in the price discovery process in the FX Market. Reuters (or any market watcher) compiles data from a host of contributors. Clerks employed by Reuters listen to dealers screaming prices on the floor and then enter them into the computer. Fund managers would watch Reuters to get an idea of where the market was, since there were significant price differences amongst providers. Accordingly, Reuters served as an advertisement of prices for institutional investors. It is important to note that prices on the Reuters dealing screen are indicative- showing the last buy/sell- and not necessarily where the market maker is willing to buy/sell the currency pair. For the most part indicative prices are very close to dealing prices. Euro and Yen indicative rates tend to be more accurate, as a larger number of contributors feed in. CHF and GBP tend to be less accurate outside of European Market hours, as fewer banks today make markets in CHF and GBP since there is less demand for these currencies outside European hours. Sometimes CHF can be off by 20 points or more. It is also important to note that because these prices are being entered in manually, they are privy to human error- especially during a fast moving market.

What is the difference between FXTrek I and FXTrek II charts?

Argo Futures Group, Inc. offers two free FXTrek charting packages to its clients and demo account users. Both charts employ a different data feed; one uses a data feed from S&P Comstock, and one uses a direct feed from Refco FX.

FXTrek I: This particular FX Trek option offers indicative quotes from S&P Comstock. While indicative quotes may not correspond directly to the rates dealt on the Refco FX trading station, they will still reflect the overall trends in the market place along with the sentiment of traders.

FXTrek II: This version of FXTrek charts presents the same charting package, but employs Refco FX's price feed. Traders that like the FXTrek style but require precision charting should utilize this option.

What are the differences between FxTrek free charts and the FXTrek Professional charts?

The free FXTrek charts are an abridged version of the professional FXTrek charts. The free version is basic, yet accurate and informative, and should suffice for the majority of traders. For clients that require a more comprehensive charting package, offers FXTrek professional charts. FXTrek professional charts include a Web edition and a Desktop edition.

FXTrek professional charts- Web edition:

These charts provide traders with over 20 technical indicators, as opposed to the seven offered on the free version. Moreover, the FXTrek Professional Web-edition offers traders the option to save personal settings, and charts. The ability to save charts allows traders to benchmark real time charts to significant historical charts. The FXTrek professional Web edition also offers more than 5-dozen time periods, and the ability to open more charts than the free version. The FXTrek professional- Web edition retails for $50 per month; Argo Futures Group, Inc. clients receive a reduced price of $40 a month.

FXTrek Desktop:

Streaming, Real Time Quotes
Save Multiple Chart Settings as a Group
Export/Download Historical Data
Dynamic Data Export Functionality
Local Time Zones & Multiple Data Feeds
Windows-Based Software
Over 2 Dozen Technical Analysis Indicators

FXTrek Desktop offers all the functionalities of FXTrek professional (online version) and much more. FXTrek Desktop is one of the most advanced charting software packages available. The Desktop is operated on a Window-based platform rather than a server-based system. This creates a safer, faster, and more reliable platform for charting. This platform is intuitive and user friendly, and allows easy one-click printing and settings customization. The desktop has a main menu control with functions for the overall Desktop software, rather than individual charts. The FXTrek Desktop also has digital data exporting capabilities, where the user can export and download data from the charts to their personal system. Desktop offers the most comprehensive suite of technical indicators that can be combined to create a more thorough analysis. Desktop users have the opportunity to choose between two data feeds providers: S&P Comstock and Argo Futures Group, Inc.. Due to the global nature of the FX market, Desktop users have the option of choosing their time zone and choosing support in other languages. FXTrek Desktop charts are available to Argo Futures Group, Inc. clients at a rate of $100 per month.

How do I subscribe to FXTrek professional charts?

Argo Futures Group, Inc. clients can subscribe to FXTrek professional charts via the Refco FX website by clicking on the following link: http://refco.fxtrek.com/Misc/refco.asp. By subscribing through Argo Futures Group, Inc., clients receive a discounted price of $40 per month for FXTrek Professional- Web edition and $100 per month for FXTrek Desktop edition.All payments are made directly to FXTrek.

How do I import data into my own charting application or spreadsheet (DDE link)?

The FXTrek Desktop charts have digital data exporting capabilities, where the user can export and download data from the charts to their personal system. FXTrek Desktop charts have a retail value of $100 per month but are available to Argo Futures Group, Inc. clients at a discount rate of $100. To use the DDE/Live Data Update function follow these steps: