IB good or not?

This is a discussion on IB good or not? within the Brokerages forums, part of the Commercial category; Hi, I am an algo trader from HK trades HSI Future, is IB ok for doing algo trades? Is it's ...

Reply
 
LinkBack Thread Tools Search this Thread
Old Dec 3, 2008, 3:36am   #1
Joined Oct 2008
IB good or not?

Hi, I am an algo trader from HK trades HSI Future, is IB ok for doing algo trades? Is it's API good and easy to develop? Is it's slippage large if I place market order? Is it's system steady if I just turn on my PC for a month without resetting it and re-open it's TWS?

So many questions regarding IB. Thanks for your help.
mythseason is offline   Reply With Quote
Old Dec 3, 2008, 4:07am   #2
Joined Jan 2008
IB's platform is pretty third-rate to be honest. I don't like it at all, the charting is a joke. However - I know very little about developing API for it, just that a lot of people seem to have issue with it.
clockwork71 is offline   Reply With Quote
Old Dec 3, 2008, 4:27am   #3
Joined Nov 2004
IB is one of the best if not the best. Charts are not very good but in all other respects it is hard to find a better broker in terms of low commissions, range of markets, stability of platform etc etc. There are plenty of good low cost (or even free) charting packages that work with IB. To describe IB's platform as "third rate" is ridiculous.

The API is fairly easy to use and reliable. IMHO some things in the API could be done better, but it will get the job done. There is also FIX support available for higher volume traders. There is support for many different order types including OCA orders. It will probably meet your needs, but it's hard to be sure without knowing more about what you want to do.

IB is DMA so any slippage is what happens at the exchange - IB has nothing to do with slippage. Executions are fast. If you throw market orders at the HSI you will get slippage (sometimes a fair bit) regardless of which broker you use. HSI is a volatile and thin market.

IB's TWS runs on Windows, Linux and MAC.

Last edited by dcraig1; Dec 3, 2008 at 4:40am.
dcraig1 is offline   Reply With Quote
Thanks! The following members like this post: nine , johnlvs2run
Old Dec 3, 2008, 5:49am   #4
 
nine's Avatar
Joined Sep 2003
Agreed with dc. IBs platform is first rate although the java charts are not something I would choose to use (I use Sierra Chart).

Use limit orders for entry in HSI. Even if its a generous limit ... use a limit or you might receive frequent unpleasant surprises.
nine is offline   Reply With Quote
Old Dec 3, 2008, 8:36am   #5
Joined Oct 2008
mythseason started this thread
Quote:
Originally Posted by dcraig1 View Post
IB is one of the best if not the best. Charts are not very good but in all other respects it is hard to find a better broker in terms of low commissions, range of markets, stability of platform etc etc. There are plenty of good low cost (or even free) charting packages that work with IB. To describe IB's platform as "third rate" is ridiculous.

The API is fairly easy to use and reliable. IMHO some things in the API could be done better, but it will get the job done. There is also FIX support available for higher volume traders. There is support for many different order types including OCA orders. It will probably meet your needs, but it's hard to be sure without knowing more about what you want to do.

IB is DMA so any slippage is what happens at the exchange - IB has nothing to do with slippage. Executions are fast. If you throw market orders at the HSI you will get slippage (sometimes a fair bit) regardless of which broker you use. HSI is a volatile and thin market.

IB's TWS runs on Windows, Linux and MAC.
Thx dc, seems IB is good for me to start, but I found someone said on the net that IB C++ API doesn't have many support, unlike excel VBA, so if I am going to develop the C++ API program, is it easy to do?
mythseason is offline   Reply With Quote
Old Dec 3, 2008, 8:40am   #6
Joined Oct 2008
mythseason started this thread
Quote:
Originally Posted by nine View Post
Agreed with dc. IBs platform is first rate although the java charts are not something I would choose to use (I use Sierra Chart).

Use limit orders for entry in HSI. Even if its a generous limit ... use a limit or you might receive frequent unpleasant surprises.
Thx nine, chart is OK for me since I don't use it much. What my concern is slippage. You said using limit order, but how? I don't know about limit order, since I always use market order now, and sometimes I found that the slippage can be as high as 20 pts. This is very large for I am in HK, I know the volitility of HSI is very high, with that high volitility, how to put limit orders, since I would like to have my order execute with 100% sure.
mythseason is offline   Reply With Quote
Old Dec 3, 2008, 8:45am   #7
Joined Nov 2004
Quote:
Originally Posted by mythseason View Post
Thx dc, seems IB is good for me to start, but I found someone said on the net that IB C++ API doesn't have many support, unlike excel VBA, so if I am going to develop the C++ API program, is it easy to do?
I've used the Java API, so no direct experience with C++ API. But I doubt if there would be any problem that can't be fixed. Source code is supplied with the API, and you can always have a look at the Java code if needed. The API<->TWS protocol is quite simple.
dcraig1 is offline   Reply With Quote
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Similar Threads
Thread Thread Starter Forum Replies Last Post
good or bad?? uldela2 First Steps 0 Nov 2, 2008 7:29pm
is this any good? traderjuk Discretionary Trading 0 Oct 5, 2005 7:24pm
Mini account with good platform or any good charts software ? Yanick Forex 8 Dec 16, 2004 8:22pm
Was it good for you? ChartMan T2W Feedback & Announcements 0 Apr 8, 2002 10:53pm

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)