Is the IB API still tied to the GUI

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.

 

It is. Unfortunately.

 

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