on the bottom it says "quotes 15 min delayed" but the nasdaq quotes come from isld (realtime) and the nyse quotes seem realtime to me am i wrong?
My experience with the demo system leads me to believe the answer is "it depends". I've mainly used the demo for testing some of the new automated stop programs on the futures, and I've noticed that sometimes the data is live, sometimes delayed, and sometimes non-existent. That may be different for the equities demo. Whatever you do, don't base your opinion of IB on the demo system. It is only a shadow of the real thing. It should only be used for practicing order entry or testing the API stuff.