Can you recommend a streamlined broker?

Discussion in 'Retail Brokers' started by autowealth, Feb 20, 2010.

  1. I have coded a black box and done tons o' testing.
    Now, I'm ready to do some paper trading & use $.

    I'm completely new to the logistics of connecting to a
    broker. In the past, I logged into the broker account &
    parsed the site for data and executed trades. Now I'd
    like to upgrade by using the FIX protocol.

    I am hoping this solution exists:

    black box <-> FIX 4.0 <-> broker

    01. I only need to trade equities (not even options).
    02. I don't need ultra fast speed it in this case.
    03. I can afford to pay high transaction fees ($10).
    04. I want to be able to deposit $4K (not $10 - $30K).
    05. I don't want to use a GUI or download software.
    06. I do not use Windows at all. Only Linux.
    07. I strongly prefer open source code (like phix).
    08. I don't need any more extra 'tools or features'.
    09. I'd prefer not to use java, C++, C# software.
    10. I have all of the features I need coded already.
    11. I only want quotes & to trade 4 - 6 times daily.
    12. I'd rather parse the broker than use a $1K API.
    13. I'll need a demo account to test connectivity.

    The 'net is cluttered with lots of expensive systems
    that have lots of features that I do not need. I spent
    some hours searching for a straightforward broker &
    have failed to find a streamlined solution.

    At best, I'm seeing:
    black box <-> FIX <-> special API + data server <-> broker

    Why isn't FIX able to be the sole connectivity solution?
    Is it a fantasy to think I can just use FIX 4.0 for years?


    Can anyone recommend a suitable broker?
  2. E-Trade obviously.

  3. I had looked at ETrade before, but I did not find this:

    "E*TRADE Capital Markets can currently accept orders from either our front end application (either through a dedicated circuit or the Internet), FIX protocol (various versions supported) or a variety of third party vendor applications."

    When I talked to the rep (6:55AM Sunday morning CST),
    1. First he said it wasn't possible.
    2. Next, he claimed that I could only use it to trade CD's, Bonds,
    3. I showed him the link that showed what could be traded.
    4. After I directed him to the link above, he said "that's only for institutional investors"
    5. I ask him to 'please show me what the requirements are to use the FIX protocol"
    6. He could not. Instead, he gave me a number for institutional investors.

    His claim is that individual investors cannot use the FIX protocol.
    I suspect that it IS possible for an individual to use FIX, but their
    customer service guy didn't even know what FIX is.

    I found this:
    "Electronic Trading . . .. . .
    Our clients include over 1000 hedge funds, fund managers, private wealth managers and broker dealers."

    That implies that FIX is only for institutional investors, except that "their clients also include individual investors" ;)

    Are any 'individual investor' here using the FIX protocol to trade stocks with E-Trade?