Hi, I've been away from trading for over a year now and am just gearing up to create a new automated trading system. My last ATS was built using IB's API, which at the time was tied in heavily to their GUI. I had to write all kinds of applets to close down message boxes from the IB GUI, etc. In short, I found the IB API to be quite flaky, with the prices feed not very reliable, etc. So my question is: Is the IB API still tied in to the GUI or do they have a "proper" API yet? If not, I will be looking to host my ATS on a server, either here in London or optionally at the location of whatever broker I use. I'm looking to day-trade US Stocks only (AMEX, NYSE & NASDAQ). Can anybody suggest a broker with a good API? Thanks in advance Arold
Still tied to the GUI although I believe if you are giving IB a significant amount of commissions, they have a FIX platform. I am not sure if it still exists though - it did a few years back.
Actually I am not sure it was FIX. However, it was definitely an alternate to the GUI API. I am grasping at straws here but I vaguely remember it being called the CFTC program or something like that. IB would only set it up if you did a fair amount of commissions per month. Sorry I don't remember the details.
According to their website, it looks like you can bypass the GUI and use their CTCI/FIX interface via internet if you commit to a $100 commission minimum. The only catch iis that I don't think that interface supports any of IB's trade allocation features (i.e. you're a CTA) or order management features (i.e. bracket orders), so if you need those features you'd have to write it yourself. http://individuals.interactivebrokers.com/en/software/interfaceComparison.php?ib_entity=llc
As for reliability of the price feeds; even if you go for their CTC interface the quality is probably the same. I have made a setup hosted remotely on an unix machine using the open source project "IBController" and my own Java-based ATS. It works - but it is obviously not optimal.
Thanks for the replies guys. Even with IB's FIX interface, I'm guessing that I would still have to use the TWS API for my price feeds? I think I'll give IB a miss for now. Can anybody reccomend a US Stocks broker that has a decent API? Thanks again Arold