Best Software for Automated FX Trading

[durationam]

Hello,

In your opinion, what is the best software to create strategies, and go live with them on forex markets with Interactive Brokers?

 

[sccz97]

Hello,

In your opinion, what is the best software to create strategies, and go live with them on forex markets with Interactive Brokers?

I'm unaware of any ready made packages that will allow you to create automated strats for ib like say in tradestation. But if you're up to the taskib provides api for c++, java and activex so you've got any number of languages available to you to write your own

 

[juanbyte]

Have a look at TradeBolt and TradeBullet, these provide links between strategy/charting packages and IB

 

[josbarr]

I think Button Trader is another one

 

[shadowpug]

I think Button Trader is another one

NinjaTrader is also another one.

 

[barn_burner]

Hello,

In your opinion, what is the best software to create strategies, and go live with them on forex markets with Interactive Brokers?

Isn't Metatrader 4 the standard for this type of stuff?

 

[fxchant]

Isn't Metatrader 4 the standard for this type of stuff?

It's an option.

 

[Doctor Leo]

Metatrader is a software for bucketshops. There's no facility there to use it with an ECN like IB. I would strongly recommend to avoid so-called brokers with Metatrader, simply because this software does not allow to use it by a broker, not a shop. Also I'd point out weird scripting language and really awful backtesting which mostly generates excellent strategy performance on historical data but has nothing in common with reality. So stay away from it if possible.

 

[barn_burner]

Metatrader is a software for bucketshops. There's no facility there to use it with an ECN like IB. I would strongly recommend to avoid so-called brokers with Metatrader, simply because this software does not allow to use it by a broker, not a shop. Also I'd point out weird scripting language and really awful backtesting which mostly generates excellent strategy performance on historical data but has nothing in common with reality. So stay away from it if possible.

Yeah, I agree with that, but it is still an option for those looking for that type of package. And IB is not an ECN, by the way.

 

[a_gnome]

And IB is not an ECN, by the way.

I think that it is an ECN actually: it has four competing market makers in forex, including Deutsche Bank, UBS and Barclays Capital and your order gets routed to the best available quote. You can also work a limit order on the ECN which other traders can trade against so you can be on the right side of the spread.