I just opened an account with IB, and I elected to purchase their level II quotes for $20/per month. Is there is a stream that is more reliable? Secondly, is there something cheaper? I'm using QuoteTracker for charting, because I hear it is better than TWS charts. However, I am open to any suggestions of alternatives that might be better.
I keep hearing over and over that IB feeds are slow. What is everyone using for data with their IB account?
I use the data from my IB account, I dont know if that is a mistake or not. Can someone explain to me the difference between the data that comes with the IB account and level II data you pay for?
That is all you have to say? I wouldn't mind so much if you said that *after* you gave a valid contribution to the discussion. Why even waste your time and mine?
Unfortunately, "cheaper, and more reliable", do not go hand in hand. Basically, you get what you pay for. That being said, you've already gotten best bang for the buck from both IB's data feed, and QT charting. It's a great set up for starters. But if you're starting to trade seriously, and starting to succeed, I would at least go with another back up data feed, and a charting software. IQ Feed would be the next economical, and reliable data feed of my choice. As far as charting, you can't go wrong with Ensign software. Happy trading Schaefer
Thanks for the great advice, I really appreciate it. In quotetracker, there is a stream for lvlII quotes called 'Archipelago Streaming'. This seems to give me real time level II data, and for free. What am I getting by subscribing to IB for $20/mo that I don't get with Archipelago in QuoteTracker?
ARCA still provides free qoutes? I thought that they had stopped that a while back. Then again, I don't trade equities, so I may not be up to date on that one. Even, if it's still available, I suspect that it'll only show ARCA book. Schaefer
You don't want to believe everything you read here about IB feed. Some people have their own axe to grind. In my experience the IB streaming feed is fast and generally reliable. There are the following limitations: * maximum 100 instruments unless you do a fair bit of commission every month ($800 +) * It is not a true tick feed. Updates are sent at a maximum rate of about 3 -4 per second for each instrument. In a fast market some ticks are 'aggregated'. If you really want every tick, then you need something else. The upside is that the load on IB's infrastructuse is bounded and so it still performs well in the fastest markets. * There is a limitation of a maximum 3 concurrent Level 2 /DOM streams. I'm not a great fan of how the historical data service is implemented but it does work if you understand the limitations which are basically a maximum of 60 requests per five minute period. In terms of what you get for your money it is great value.