i am using IB's Friends & Family account

Discussion in 'Trading Software' started by jingo911, Feb 5, 2004.

  1. jingo911


    Is there software out there that supports IB's Friend&Family accounts? ie. i 'm thinking of a program that lets me to automatic order execution--much along the lines of ninjatrader, autotrader, bracket trader, etc

    many thanks in advance.
  2. Poor guy. FFA support at IB is really bad. First for your customers you have to fill so many paper documents. Then when your customer wants to wire money, you have to do the job...

    Should I add that API are buggy and IB is working on fixes. So the only one who supports this is ZeroLineTrader but it is buggy. No other software supports it as IB decided to close the FFA demo account (they said it will be reopen in the next few weeks).

    Other brokers than IB, offers a MUCH better service (and cheaper)
  3. kowboy


    Who are your favorites in terms of brokers?

    PS: I think IB does not do their customers any good by not providing a front end order entry program.
  4. ges


    What do you call TWS? It's not the kitchen sink, but pretty damned good.

  5. kowboy


    1. When you enter a security you have to enter the exchange or Smart. You are fixed to the order route initially selected unless you go back and enter the stock again and change the routing. DAS brokers typically facilitate order directing from the level2 at the time of placing the order, and all with speed keys.

    2. Speed Keys--for example if you want to set up a key pad with hotkeys to change the number of shares, to shave the bid or offer, most brokers have this integrated with an order entry window. Does IB do this for us? No, you have to go get another front end from another vendor.

    3. Order entry window and order status and position minder are all more easily integrated by other brokers. If you want these features you must go to another front end vendor to work with IB

    In short, Ib should provide the above. Ib is ok if you want to long term invest, swingtrade, or swing intraday. But IMHO if you want faster more easier executions you either need to go elsewhere or get a front end from another vendor to get these features on IB. Why do you think there is a proliferation of IB users who feel compelled to use front ends such as Button Trader, Nt, Zeroline etc.

    For example check out the features with other brokers such as with Das Trader, Xoomtrade, Redwood trading, ETG Protrader, etc, to name a few, and you can compare yourself.

    If you ever used speed keys with order routing, there is absolutely no comparison, in my opinion

  6. def

    def Sponsor

    You are wrong on all accounts (except item 3 which I'm not qualified to comment on). perhaps should try reading a user manual.

    A brokers front end will never be all things to all people and the front ends you mention have the ability to tailor code to a specific set of people - and we think that's great.
  7. kowboy


    Nonsense. This is just an excuse to be brain dead IMHO.

    Don't get me wrong Def. I do appreciate IB and the "used to be cutting edge in commissions." But for crying out loud, why is there a proliferation of other front ends? It would be nicer if IB supplied one or two. Like how much trouble would that be?

    As for item 1 of my observations, when you enter a security on the TWS you are asked to select form "Smart,Arca, Brut, Btrade, Ibis, Isld, or Super Soes" Then when transmitting an order, the default stays as originally selected, UNLESS you go back and change the default for that security. It simply would be easier to use speed keys and to direct the order to the route from the TWS at the time of execution. I have been with IB for almost 4 years and anything otherwise is not aparrent to me. The hotkey drop down menu does not have that as an option.

    As for itmem 2, I stand corrected, as the share size and price can be modified with hot keys as I see.
  8. jingo911


    is there an autotrader that i can use for IB's TWS?

  9. bebe


    IB's F&F is ( and I am trying to be nice here) terrible. Full of bugs, unable to do the job consistently - and IB knows about the problems. (I am talking about executing trades on several accounts with one click).:mad:
  10. def

    def Sponsor

    kowboy, before xmitting an order you can use the mouse to change the destination of the order. you do not have to enter a new line. however, once the order is xmitted, you are correct that you can not re-route to a different exchange unless you use SMART.

    front ends: even if someone thought we had the most elegant and dynamic front end in the world, someone else wouldn't. the fact that we have an open API will lead to other front ends serviing a particular niche. for example, i bet you never have a need to execute a basket of 100+ stocks. I do, (and so do many others). The TWS with relative orders is set up to do this with ease and allows one to execute the basket without always paying the bid/offer spread. however, if there was a front end that made this easier and simpler, perhaps I'd even give it a try. that's just an example. not everyone is trying to scalp equities.

    no idea about other F&F API front ends.

    you should see some improvements very shortly. the FA (financial advisor accounts) allocations as well.
    #10     Feb 6, 2004