API Brokers - Reviews and Ratings

Discussion in 'Automated Trading' started by byteme, Jan 20, 2009.

  1. byteme


    I mentioned this a little while back on the "Sharing Resources" thread.

    I'm interested in compiling some up to date information on brokers that offer facilities geared towards black-box trading.

    I'm particularly interested in standard fees charged etc. Many brokers do not advertise these things on their websites and they are probably open to a large amount of negotiation based on what their assessment is of your trading. However, it's still good to get some ballpark figures.

    There are specialists, such as Lime Brokerage and then there are regular Brokers like Interactive Brokers that offer APIs.

    If anyone has experience with these brokers, please add to this thread and I'll try to collate and compile the information.

    I gave some examples on the other thread to start things off:

    Broker: MB Trading
    API Languages:
    Client Software Needs to be running?: For Navigator API, yes, Navigator Software needs to be running. For FIX connectivity, no. Direct TCP/IP connection to FIX servers possible.
    FIX Supported:Yes
    API Costs: For FIX, $250 setup, $50 p/month after that (once testing finished)
    Co-location Offered: Server renting is offered (e.g. $100 p/m for basic Windows XP box). Not sure if can co-locate own server.
    Forced daily API logout?:Yes, for FIX server.
    Equities, Futures, Options?:Yes, all three.

    Broker: Interactive Brokers
    API Languages: Many. Any language that can make socket connection should work.
    Client Software Needs to be running?:
    For TWS API, yes, TWS needs to be running.
    For FIX, other "gateway" software needs to be running. TWS does not.
    FIX Supported: Yes, separate FIX API available.
    API Costs: For TWS API, no extra costs.
    FOR FIX API, $100 p/m???
    Co-location Offered:Not sure
    Forced daily API logout?:Yes.
    Equities, Futures, Options?:Yes, all three.
  2. TWS API is not designed for automated trading. It is more like another TWS for interactive trading because of it's asynchronous delivery of data to client. The API itself does not guarantee the automated trading programming. It all depends on how it's designed.
  3. Euler


    Hi ****,

    Just happened to notice you answering posts in exactly the same way -- namely, by advising the posters to use ****-- on several different threads. In fact, it seems that every post you have ever made on ET, dating back to 2006, has been in promotion of **** or its predecessor, E*Trade Professional. If you're a client, you show a surprising level of devotion to your brokerage.

    On the other hand, if you're working for them, why not make it clear? While this is an anonymous message board, failing to disclose that could might construed as a bit deceptive, even if your intentions are good. Also consider the following, from the ET Terms of Use:

    Advertisements and solicitations of any kind are strictly prohibited unless you are a paying site sponsor. As a person who does not represent one of our site sponsors, you are not to solicit our members with any type of commercial offer, or advertise your business through your public posts, private messages, profile page, or file attachments.

    Just my opinion...

    <hr>Moderator's Comment:
    **** = SPAM removed
    Pls press the Complain key if you see another SPAM post
  4. Bob111


  5. 314


    Does GNDT support trading FX? I didn't see anything about it on their website, so I'm guessing not. I'd be tempted to give them a shot if they did...
  6. They only support equities. No futures, no FX, no options.

    They are saying this for past many months that OPTIONS will be coming soon.
  7. '

    They have options - we trade them through Genesis, just not automated.
  8. Ah, that means you can trade options their laser platform. How does that work for individual customer?
    Correct me if I'm wrong; their retail platform (SogoElite/SogoTrade) has no support for options as of now.