What is the better platform (cheap, reliable) for downloading equities data? I'm a programmer that wants to use Java to access the service and stream it to a MySQL/Postgres data.
I have no experience with MyTrack, but I can offer some comments about IB and Java API. 1. It is reliable. Service problems are rare. 2. It is cheap. The API and software is free. Exchange fees are waived for US markets if you do $30+ comm per month. Otherwise $10 per month. No fees for some other exchanges including HKFE, SNFE, SGX, IPE. Very reasonable exchange fees for European exchanges. 3. Many say that the real time streaming quote performance is as good as or better than most other data providers. 4. Six months historical data is available for all markets available through IB. The API for historical data could be better designed, but the service itself is very reliable. 5. Limited to 100 concurrent instruments for real time streaming prices. Getting more is dependant on paying more comm per month. Details on IB web site. Overall assessment - good and very reliable and the price is right.
I use MyTrack for data. Your limit is 700 symbols real-time active. I believe IB permits you to track only 100.
One minus for myTrack SDK - $99 fee for using it, on top of whatever other fees you are paying. MyTrack SDK uses a DLL. That is not a problem for us, but not sure how that would work with Java developemnt
Java and XML (and other variants on XML methods) are current technology.... Microsoft DLL (direct link libraries) are old technology that was custom to their platoforms long before XML (industry free ware) came along.... choice between the two? XML & Java.... reason.... they place the onus or weight of application to actual usage instead of bloatware, hence they are "in the stream" as it were (programmer speak for internet data transmission) and utilize less overhead until actually called upon by the application. MS DLL's have to be in place first before usage and now need the additional MS Netframe and Net Libraries just to remain current. NinjaTrader vs. Omniware or CQG or other platforms. just try running Ninja without doing all the downloads and site prep. simply won't work, hence, which is better? an application that is complete when you download it or an application that requires its own operating system components just to run?
the API being via DLL has nothing to do with having to download files to have it run. It also has absolutely nothing to do with .NET. That is a totally different issue. As for Java, you do have to have tons of stuff installed - the Java VM. Either way, merits of Java, .NET, XML, or DLL is not the point of this thread. The question was specifically about IB and MyTrack SDK
Don't think it's that simple. Although you are right that in most cases the 'API is via DLL', often you need to have your broker's trader running: e.g. x-trader or TWS. In most cases this will also tie you to a particular platform. Only IB seems to have its TWS for different platforms albeit that with IB you always need that damn java hog. Now Fix should enable you to avoid all these, except for the fact that some brokers only provide quotes and/or account & open-order info through their 'trader'. So Fix often doesn't free you from all these platform and interface particularities. It would be nice if somebody would come up with a TRULY platform independent API and/or FIX solution.
whether or not you need the broker's platform running is also unrelated to the DLL API. That is dependent on how the particular broker designed the API. There are plenty of DLL API solutions that do not require the broker's platform to be running: myTrack, Cybertrader, and PATS for example I much prefer TCP/IP APIs vs DLLs, COM, etc. As for FIX, it is a bit overly complex. And as far as quotes, its way too chatty. Its good for what it was designed for - broker to broker communications. To connect to FIX from client to server you either have to re-invent the wheel and implement tons of FIX handling, or get a 3rd party module that does it. Neither are a favorable solution compared to a simple TCP/IP protocol with basix XML type commands.