Best Thread Interactive Brokers

[rog1111]

Interactive Brokers' comments on their data

Hi all,

For anyone that still needs clarification about IBs data, please read the transcript below, dated 23rd September 2011. This is also highly relevant to QuoteTracker, Button Trader etc. In a nutshell, the charts are based on tick data, but TWS itself, the T&S window and (shockingly...) the API feed. This does lead to some other huge questions eg when stops get triggered etc etc etc.

Comments from IB are welcome.

rog1111
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Status: Connected

ELAPSED TIME: 00:38:59
ChatSys: This chat is associated with ticket #115284. Please record this number for use in future inquiries. You are currently in room 'Trade Problems'.
Chris: Hello, this is 'Chris'. How may I help you?
marco004: hi Chris.
marco004: I have noticed that the T&S data window often does not agree with the relevant IB chart eg the chart makes a new high (in agreement with eSignal & TT) but IB's T&S (also the API feed) do not. As an IB API developer this is an embarassing issue for me
Chris: Hi
Chris: Do you have an example that I can look at?
Chris: Specifically with a chart and T&S
marco004: Chris, the simple answer is no, but this happens many times a day in more than 1 futures contract, and for quite some time now. Im sure that other people have raised the same issue
marco004: However, if you really think it will help I will try to capture something. If you have heard about this problem before please let me know
Chris: I have not heard of this before, however I can have you speak with Technical Assistance.
Chris: Would you like me to conference them in
marco004: Thanks, that would be helpful
Chris: Ok one moment
ChatSys: Transferring chat from room 'Trade Problems' to 'Technical Assistance'. A Customer Service Rep will join the chat shortly.
ChatSys: User 'Raymund' has joined the chat.
Raymund: Hello, this is 'Raymund'. Please allow me a moment to read the transcript of your chat thus far and I'll assist you shortly.
marco004: ok
marco004: still there...??
Raymund: We don't relay the T&S in the API side. What method did invoke to capture the information?
marco004: I opened the T&S window from TWS and compared this with the API data with is coming through seperately to my app. Both agreed. Both were wrong according to other sources
marco004: and the IB chart agreed with other sources. This is not an isolated incident
marco004: <>
marco004: Look, I havent got all day guys
Raymund: please hold
Raymund: I do apologize
marco004: ok
Raymund: API real-time data is not tick by tick data. It is snaphotted within 250 milliseconds interval
marco004: OK I see, how about the T&S window, is that also 250ms?
Raymund: no. it is tick by tick
marco004: Well, I have to say that the T&S window data was not reflected on the chart. I checked
marco004: also that makes the API data useless, frankly
marco004: this was ES futures btw
Raymund: Useless in terms of what?
marco004: If one is gathering data trying to establish Highs & Lows, the H&Ls could be erroneous. As well as a host of other problems related to stops etc
marco004: Raymond, how about the TWS data, is that also 250ms?
Raymund: yes
marco004: OK interesting. Presumably you are quite sure of this?
Raymund: yes.
marco004: OK Raymund, thanks for you help on this, its appreciated, even though it now creates a huge problem for me. I had assumed that the ASPI was genuine tick by tick data.
marco004: API
Raymund: I completely understand. Normally, if users want tick by tick, they use different data source such as eSignal.
marco004: Makes me wonder how the likes of quotetracker, buttontrader etc manage this...
marco004: they seem to be gathering ticks but I dont see how. perhaps they are using the 5 second API bar data
Raymund: They are not data provider. Therefore, if they are using IB as the datafeed, then they are not receiving tick by tick data
marco004: Thanks again for all your help. Bye raymund
Raymund: you welcome

 

[wiseass]

im looking at trading my IB account account again.
Has IB improved TWS enough to trade with it since 2008?

gotta ask before i install a whole bunch of other sh*t before TWS actually works on PC.

 

[adrianjm]

im looking at trading my IB account account again.
Has IB improved TWS enough to trade with it since 2008?

gotta ask before i install a whole bunch of other sh*t before TWS actually works on PC.

Your name precedes you. If I worked for IB, I wouldn't want your custom.

 

[wiseass]

you must admit, their charts were pretty bad. im hoping thats not the case anymore.

 

[adrianjm]

you must admit, their charts were pretty bad. im hoping thats not the case anymore.

Decide for yourself, it really doesn't take much effort to check them out, and it's something that only you can decide. IMO they are easy charts to trade with.

 

[tonylznwlr]

A few questions regarding IB Forex \ currency conversion below the minimum lot

According to IB website – any amount below 25K USD or equivalent “will generally be executed at slightly inferior prices ranging from 1-3 ticks outside the IdealPro quote. “
Whatever the hell that means , I’m not sure I understand it correctly .
For example , let say I want to convert (not to enter a Forex position) some of my CAD to USD .
The amount is below 25K .
The USD.CAD IdealPro bid at that moment is 1.0255 , and I place a limit buy order at the bid price .
Whats going to happen next ?
1. IB just slaps 1-3 pips on top of my limit order (1.0255 to 1.0256/7/8) the order is executed immediately.
2. IB artificially widening the actual IdealPro spread I see in TWS by 1-3 pips , and execute my order at the limit price only when\if the bid price hit at least 1-3 pips above the limit (1.0256/7/8)
I also wonder what exactly decides whether it will 1 , 2 or 3 ticks extra ? is it something totally random or its depends on the specific currency pair ?

Thanks

 

[porque]

Interactive Brokers API, market depth & Market order

Hi all.

Before the open, when I request the market depth with the API (or in TWS) for a stock, I don't see market orders.
Is there a way to request these orders?

Thanks for your answers.

 

[Bull Dog]

Hi,
I'm Canadian living on Vancouver Island,
I’m getting back into Commodities and possibly forex.
I use to have a broker in Chicago years ago (1997) since trading in British Columbia seemed rare, but now I’m wondering if I should use Interactive Brokers in the US or use IB Canada.
Would using a Canadian Broker compromise fill times in any way? or would I have the exact services as a US Broker. I'm trying to consider everything - Fill times, quality in customer support, maybe even Taxe breaks. Any tips, input, or recommendations would be appreciated.

Thanks!

 

[cableloonie]

So question, who uses ib tws for charts or do you have a third party package. If so who?

 

[Essex]

I am living in the UK unfortunately and looking for an offshore brokerage. The reason for this is that if I make any money my ex-wife (the chip in her head blew 2 years ago now she is always http://static2.trade2win.com/boards/images/icons_new/icon8.gif) and her expensive lawyers will want to take a cut. I therefore reckon if I open an account offshore she will not be able to find out about it. However I notice that IB has a London office and transfers are to a London bank. So would an IB account be based outside of the UK and could my ex wife find out about it?

 

[Hittfeld]

I doubt it`s a good idea as you, your ex and your account would be in the very same jurisdiction. This might be one of the rare cases where I would consider whexpert of Luxemburg for futures and stocks, Ducaskopy or Saxo of CH for forex. If you are of the bolt kind you might like Singapore of Cyprus ideal broker locations (but not introducing parties of UK bucket shops).

Regards

 

[fayalac]

I am living in the UK unfortunately and looking for an offshore brokerage. The reason for this is that if I make any money my ex-wife (the chip in her head blew 2 years ago now she is always http://static2.trade2win.com/boards/images/icons_new/icon8.gif) and her expensive lawyers will want to take a cut. I therefore reckon if I open an account offshore she will not be able to find out about it. However I notice that IB has a London office and transfers are to a London bank. So would an IB account be based outside of the UK and could my ex wife find out about it?

I bet she will.After all, lawyers live (basically) from what they take from other people.

 

[Chipper6]

Does IB have any plans to add more mutual funds? At last count Interactive Brokers have less than 1000. (For comparison, most other US brokers have at least 5000 different choices of mutual funds.)

 

[babymonkey]

Warning: This may be an extremely newb question.

My question is about the IB simulator. I read on the site that it uses live data from a week ago. So by my reckoning today's simulator data would be the actual data from Monday November 28th. When I look at the chart for a particular stock, say GRPN. The chart in the IB simulator shows wild fluctuation between $13.00 and $20.00. Obviously this looks like a killing field to me.

When I look at charts from Google or Scottrade, they tell a completely different story. Why the big difference?

 

[theknifemac]

Could someone provide me with a link to the bank account details for IB UK - I opened my account with a shares transfer and now want to transfer some cash. The IB website makes reference to ACH transfers etc, but I am led to believe should be able to transfer cash using normal internet banking if given IB's account number, sort code etc ?

 

[gc1]

Could someone provide me with a link to the bank account details for IB UK - I opened my account with a shares transfer and now want to transfer some cash. The IB website makes reference to ACH transfers etc, but I am led to believe should be able to transfer cash using normal internet banking if given IB's account number, sort code etc ?

From memory I think you have to log-in to the account management page, go to funds management, deposit funds, and after you have filled in the information it tells you the bank account to send it to. That will be a London bank with a UK sort code if the deposit currency is GBP.

 

[theknifemac]

Ahhh ok thanks for that makes sense !

 

[maxwellreid]

I have been trying to close one of my IB accounts for over 12 months. I ring up and they say there is nothing in the account, but it still stays open. I see some small virtual positions, there and I am assuming that's the problem. What gives. My reaction is now to close my other IB accounts and go elsewhere

 

[maxwellreid]

I have been trying to close one of my IB accounts for over 12 months. I ring up and they say there is nothing in the account, but it still stays open. I see some small virtual positions, there and I am assuming that's the problem. What gives. My reaction is now to close my other IB accounts and go elsewhere

It turns out it is the compliance review. I have done all the steps. They must only meet every month/quarter (on my second close request, it's been 4 weeks). IB is the hardest account I have ever had to close

 

[Enteaq]

just tried TWS demo to trade ES.. why are the commissions 2.40 USD per contract per side ? is this the actual fee or its just some setting on the demo version?

thanks in advance!