Is FIX the way to go for automated trading with IB?

Thanks for the replies! There's still the question about whether I can use directed orders and still get the unbundled commission rate. I emailed IB this morning but no reply yet...

 

Yes, I believe you can. How you transmit your orders to IB has no bearing on your commission rate. You independently pick bundled or unbundled from the Account Management screens at IB's website.

Aaron Schindler
Schindler Trading

 

For some strange reason, it does matter when you use IB's API. There's a footnote on the unbundled fee schedule:

"...only the bundled fee structure is available for Non-Smart Routed API orders."

Hopefully, that's just the API and not FIX???

 

It looks like IB's FIX does not support higher message rates than their TWS API. The IBGateway guide states the throughput limit is 50 messages per second which is the same as TWS API's.

 

On IB's "Interface Comparison" page it says message limit per second is 150 for CTCI(FIX).

 

Now I am confused, what is the messages per second for IB CTCI(FIX), 150 or 50?

Can IB or someone help clear it up?

Thanks.

 

if an IB guy comes in here can you please also clarify if the feed on the FIX connection is the same as the TWS data feed or different? I am specifically referring to the sub-second tick consolidation method that IB uses on its TWS feed. Or in other words, is the FIX data unfiltered?

 

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