IB TWS - live data for stocks?

Discussion in 'Trading Software' started by pj94z, Aug 11, 2015.

  1. pj94z

    pj94z

    Hi,

    Thinking of switching from Ameritrade TOS platform to IB, this is for day-trading stocks and swing trading options.

    Does IB charge for market data feeds for real-time quotes/charting? (i.e level 2/1 min charts)

    Is there anyway to waive these fees? if you make enough trades etc?

    I currently use Ameritrade ThinkorSwim platform and I pay no monthly fees for live data.
     
  2. rmorse

    rmorse Sponsor

    IB charges but if you are non-pro, the MD cost is very low.
     
  3. pj94z

    pj94z

    It's $20 for Nasdaq and $15 for NYSE and more for ARCA etc.

    Seems like it can easily add up to over $50/mo.
     
  4. You also get a limited number of L2 windows in TWS. I think it's something like the max of:

    3
    assets/$1M
    last months commissions/$800

    Or you can pay for "quote boosters" for $10/month/extra window (which also give you more L1 quotes too, but you get tons of those anyway).
     
  5. Bob111

    Bob111

    question regarding market data to the members from IB -for months i have open ticket with two simple questions that remain unanswered.
    i don't have any data subscription from IB right now. question #1- what subscriptions do i need to get accurate NBBO, L1 data on china ETF such as ASHR?
    in initial respond IB insists that the only subscription i need is an AMEX equities data package. which cost 1.5$ a month for non pro. i'm a bit "skeptical" about that. simply because primary exchange for ASHR (according to Ib) is ARCA. and from what i remember to get any data from ARCA you must have subscription for ARCA book. which cost $10 a month per each account,each subscription, each user. that would be probably on the top of IB's value bundle.
    even after that i believe you won't get all the data from all participating ECN's and market centers. so-my question still same-what set of subscriptions do i need to get an accurate real time L1 data for ASHR?
    my second question in same ticket remained unanswered-what data package i have to be subscribed to get an accurate L2 data for same security? this one completely ignored no matter how many times i've asked it in my ticket.

    Thank you very much, and i hope i can get full and correct answers here, on ET
     
  6. ASHR has L1 quotes on nearly all the venues. I think for L1 you would need the US Value Bundle (edge and bats), and then the ala carte L1 feeds from nasdaq, Amex, NYSE. Cost $4.50/mo, plus up to $10 for the bundle depending on your trading (often free)

    For L2, IB only offers the biggest exchanges (nasdaq, ARCA, NYSE, Boston). I don't think they offer edge or bats L2 data. The ones listed total $51/mo in addition to the costs above.
     
    Bob111 likes this.
  7. Bob111

    Bob111

    Thank you for a detailed respond! one thing is still not clear to me-primary exchange for ASHR is ARCA (according to IB) and as i wrote above-i think to get anything from ARCA (even top level quotes) you must have their ARCA book subscription($10 month).
    i'm incorrect on this, and top quotes(top bid and ask) from ARCA are in the "US Value bundle"?

    Thank you!
     
  8. sprstpd

    sprstpd

    My experience is that you won't see ARCA quotes unless you buy the ARCA book subscription.