For about 50ms Latency, I'm using Multicharts.Net with IQfeed as the datasource. Excuting through IB. try speedytradingservers.net for VPS Works pretty well for me.
I trade with IB (very happy with this broker btw.) using their Java API + IB Gateway Client. I average a ping of 1 ms to IB servers (I am collocated next to IB servers) . It takes me around 250 ms between the order placement and the order execution confirmation for NQ@GLOBEX. I believe IB servers are in Greenwich, Connecticut (NE of New York), while CME servers are in Aurora Illinois (West of Chicago). which explains partly the latency. Regarding IB Market data feed (free): IB does NOT provide tick by tick market data. IB provides market snapshots every 200-250 ms.