Should I purchase a front end for my IB account?

This is a discussion on Should I purchase a front end for my IB account? within the Trading Software forums, part of the Commercial category; If I may, I'd like to tap into the collective wisdom of the users of this forum. I currently trade ...

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Old Apr 8, 2012, 8:07pm   #1
Joined Jul 2005
Should I purchase a front end for my IB account?

If I may, I'd like to tap into the collective wisdom of the users of this forum.

I currently trade equity and index options and also index futures with Interactive Brokers. However, I find Traders Work Station baffling and generally use IB's simpler Webtrader platform instead.

I also have an IG Markets account and qualify for free use of their advanced charts which are fine for my current trading. I also use IG to trade major forex pairs. When I trade, I generally have IG's charts open on one PC and use a second PC to actually place orders.

I am a medium term trader with most trades lasting a number of days. I rely on price action and volume.

I am trying to devote more time to trading and develop more sophisticated strategies. I'm trying shorter time frames/scalping and placing orders with IG Markets' DOM (depth of market) grid. However, IG's commission levels are too high on most instruments for scalping to be viable.

My question is: Is it worth investing in a specialist front end to connect to my Interactive Brokers account? I've tried to research this but other than noting that most IB traders do use front ends, its not really clear to me what the advantages are over simply signing up for futures date with IB. I've looked at Ninjatrader, Zero Total Line and Omnitrader but all seem pretty complex given my needs and would involve paying also for data which I currently get free.

All I need is good quality charts and real time data (preferably with the ability to pace orders on the charts) for the major markets that I trade.

I guess the answer is to take a trial but I would welcome any advice on whether having a specialist front end for IB is worthwhile and who I should be trying out.

Many thanks

Atters
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