MultiCharts and IB

Discussion in 'Retail Brokers' started by larrylwill, Aug 4, 2006.

  1. I am currently using Trade Station as a trading program and brokerage. I trade CBOT and CME Globex electronic only.
    I am a lite trader and have spent the last month learning the program and how to write stratagies. Not trading.

    TS charges about $5.50 per RT and $25 per month for the CME and $50 per month for the CBOT even if you just want Globex. Also if you trade less than 10 RT per month $100 for the program. They also charge extra fees to hold the contracts over night.

    Multicharts is supposed to be TS compatable and they charge $49 per month or $399 to buy the program.

    If I read the IB page corectly they only charge $10 per month with less $30 per month in trading fees for all RT market data and $4.80 per RT to trade.

    Am I missing something?
    Comments? Suggestions?

  2. Yeah, you're missing that IB also pays a fair market rate for cash balances over 10k, where Cruz keeps that money for his yachts.
  3. Tums


    you have got the IB/MC detail correct.
  4. Thank you, Im in the process of verifying the price with MC, They are now charging $400 for the program and say that you will be able to download all updates to the Gold Release, at which time the program will cost $1000. They claim that Optimazation and back testing will be available in a couple months. (maby).
  5. JackR


    I'm not familiar with Multicharts. However, if I remember the reviews in the software section of this board there was some question as to how well it interfaces with the IB datafeed.

    You might read through the reviews.

  6. Jack:
    I did most are old, reading the posts on Multicharts fourms seems most of the problems are fixed or working on.
  7. maxpi


    They still don't have a grid application like Radarscreen from Tradestation. When they have that I might look into their products further. I have used a number of their data feed third party apps and Beta tested one, they do software really well as far as I can tell.
  8. I was using Stratagy Runner but I wanted to try and develope my own stratagies, so I took the 1 month trial with TS but Its been nothing but troubles, data spikes, outages, my first order didnt go through it just sat there saying sending, I finally sent another then had to call the trade desk to make sure that the first one didnt get in. Data would stop, found out it was them. 110:30it logs tries to log off even if your in a trade and it takes about 1 min to get it running again because you have to download the data again. I paid $25 for the CME and thought that globex on CBOT was free but its another $50. I never tried the Radar screen so I dont know what Im missing, I dont think it would be of much value watching a couple of currencies.