IB: The warning message pops up every time and makes me untradable

Discussion in 'Retail Brokers' started by Benign, Sep 16, 2007.

  1. Benign

    Benign

    I'm trading outside US market and currently subscribing an datafeed which provides real-time tick data and is integrated with its proprietary full-featured stock monitor and scanner application (for free), so I don't want IB stock data and double pay.

    However the warning message pops up every time I place an order on that market. Yes, it is every time. It warns me trading without subscribing IB data is dangerous. IB strongly not recommend such kinds of bind trading.

    Not only it pops up every time I place an order. It also pops up every time I change or move the order. Pop up once is okay but pops up every time is very annoying. What was IB dev team thinking when they design such a platform? I'm afraid this kind of design is very stupid.

    I checked the IB setting but there is no way to suppress this warning.

    I asked IB staff for a solution. They told me to subscribe IB data in order to suppress the warning message. What?! o_O

    Does IB want to force you to use their own market data as part of the marketing plan? :(
     
  2. If you dont subscribe to their data, how can you be certain your order will be place at the correct price????

    Just curious...

    I used IB with 3rd Party Data driving my charts. As you are an international customer, how much are they asking for the US Stock Data pkg??

    Shouldnt your TRADING platform have accurate data for placing TRADES??? The warning makes total sense to me.

    However if your TRADING platform has no Data, you are IMO trading blind. And hopeing the numbers your Chart Data service match the quotes offered by your Broker...

    It' like using 2 different measuring tapes to measure the same piece of wood. Variations set in and you are bound to make a mistake...

    Just my 2 cents....
     
  3. gov

    gov

    Well, just a remark really. The OP didn't say he was daytrading or anything. Maybe he is swing/longer term trading. For instance, say I know I want Micron if it drops to 10.51, so I have orders thereabouts for that stock. I have those working know, and I do not require IB quotes to enter that order. Just a thought....
     
  4. I can concur with that. Hence my Question as to the price of their data. I find their data is relatively cheap... I cant imagine $10 USD will kill his trading style... But then thats my opinion.

    Addendum. WHat stock data do you need??
     
  5. Benign

    Benign

    As said in my first post, I'm trading outside the US market. The quote is centralised and I have a third party datafeed. The quotes seen in the third party source is going to be the same (the difference is negligible).

    If you know the quotes of the stock, it is not blind trading. The fact that I get the quotes from third party sources doesn't turn me into blind trading.

    Blind trading or not, one warning (popup) is enough. Don't you agree? We are traders. We know what we are doing. I don't see the points why IB needs to act like your mum and has to warn you every time you place/change an order. Don't you feel annoyed when IB warns you every time you do something which you know it is not dangerous at all?

    Imagine a brokerage thinks one click order transmission is bound to mistake, so it forces all clients to confirm before transmitting your order. IB is similar to what the above example does. It pops up that warning every time and I have no way to suppress it.

    I have to admit the price of my datafeed is much cheaper than IB's. The IB datafeed in non-US market is rather expensive in my humble opinion. In addition IB doesn't offer fee exemption for non-US market either. The fee should be able to be exempted if your commission reaches $30 or so on other stock markets too.
     
  6. nove

    nove

    Assuming you are looking for a solution rather than just venting (there's no way you'll get much support on this - its not a problem most of us will experience) then this might help.

    You might try setting up autoit to look for and answer the alert. Not sure if it'll be quick enough for you.
     
  7. Benign

    Benign

    Continued.

    No market data fee is going to kill anyone's trading style, but it is always nice if we can keep the cost lower. It is especially useful on the days when we are unlucky and losing.

    After all that is not the main point of this discussion.

    The main point whether it should be left the decision to the trader as to what datafeed they use. Don't you feel IB is immoral to force traders to subscribe its own datafeed by means of warnings/popups? IB: "If you don't subscribe my datafeed, I will keep warning you every time you place/change an order. The warning message will only disappear when you subscribe my datafeed." This is not right in my humble opinion.

    My two cents.
     
  8. I guess the solution here is to subscribe to the IB data. Corrects all your problems does it not? And lets face it, none of the data anywhere is so expensive that it makes or breaks your deal does it?

    Between you and me, I think you are trading blind. You just don't know it. And the day you find it out, you'll be back here screaming at IB. LOL.

    But either way,your choice is pay for the data....or go to a different brokerage firm.

    OldTrader
     
  9. Benign

    Benign

    The solution would be:
    1) Beg and pray. Hopefully the dev team will fix the problem ASAP. Allow me to check 'Don't warn me again' on this warning.
    2) Give in. Subscribe to its expensive datafeed and double pay.
    3) Switch to another broker. I'm a bit worried since someone mentioned IB may delay withdrawal or freeze your account for their benefit (mixed feeling).

    I don't think AutoIt would be the solution. The warning may not popup in the same location. How can you tell AutoIt to suppress that popup.
     
  10. Fancy that he quoted me, but he didnt answer the question I asked.

    so again... all alone...


    What is the price for the specific IB data feed you need.

    AND

    Which data package is it????


    Thanks....
     
    #10     Sep 16, 2007