IB would lose 80% of its business...

Discussion in 'Interactive Brokers' started by ReadyTrader, Jan 16, 2020 at 1:49 PM.

  1. ... If Thinkorswim just had an API.

    So, I've been trying to use the IB API to develop a simple automated trading strategy. Technically, it works.

    But of course IB, being stupid, only lets you log into IB once. So, if you have your trading system running and connected to an instance of TWS on one machine, you can't even login using the mobile app to the same account without it terminating the TWS connected to the trading system.

    I did some Googling and apparently the way "around" this is by creating a secondary user for your account. I did this and then IB says that you need to configure market data for the second account all over again and that costs additional money (pay twice for the same feed).

    WTF is wrong with IB? I swear that if TOS offered an API, IB would lose 80% of its business overnight. I can't believe how difficult IB makes it to do business with them.

    How are other people dealing with all this crap? Is there a way around it that I'm not seeing? Or are you just suffering through and either paying the duplicate market data feeds or logging in once?
     
    Onra likes this.
  2. RedDuke

    RedDuke

  3. taowave

    taowave

    I have already left IB for TOS,but you better make sure you can deal with the manner in which TOS executes option spreads before jumping ship.


     
  4. What about TOS option spread execution is troubling? I've used them before with no issues. I currently have a TOS account and am relatively satisfied with them (with the exception of not having an API).
     
    taowave likes this.
  5. Hm. I'll check it out. What API does NT use to access TDA? Is it something limited only to NT and not available to the public?
     
  6. schizo

    schizo

    avatar-ds and ReadyTrader like this.
  7. taowave

    taowave

    IB shows the bid offer spread and size of the spreads..

    TOS only reflects the theoretical market if one were to take an offer and hit a bid.

    If you split the market your /bid/offer is shown at IB,even if I enter the spread on TOS..

    Its not refected on TOS..I think IB's execution capabilities are way more sophisticated than TOS

    Happy to be shown otherwise



     
  8. d08

    d08

    I'm quite sure this is due to regulation and not their arbitrary decision. The other account is technically for a new user so exchanges wouldn't offer the same data for free. Can you log into multiple accounts with other brokers and pay once for a realtime feed?
     
    qlai likes this.
  9. gkishot

    gkishot

    Tos future is uncertain.
     
  10. Yes, they say it it due to regulations, but if they would simply let a single user log in from multiple places, as every other brokerage does, there would be no need to create multiple users. The multiple users thing is just a workaround to a problem that IB created itself.