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Direct MessagesDate/Time: Fri, 03 May 2024 03:35:29 +0000
[User Discussion] - Your experiences with Interactive Brokers
View Count: 10165
| [2020-02-05 00:57:27] |
| abrown8703 - Posts: 64 |
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This is a general open question. I am looking for feedback. I am a current TransAct/Sierra user for close to 10 years. In recent months the TransAct feed has turned into a joke with constant price drops and disconnections. I am Looking to switch brokers. Can anyone leave feedback on their experiences with Interactive Brokers particularly during market volatility? Any feedback or recommendation would be appreciated.
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| [2020-02-05 02:39:30] |
| User234172 - Posts: 44 |
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Fact is, they provide futures (and stock) market data that many brokers do not... with regional servers. I do not use them (or SC) right now. But I may very well pair IB and SC quite soon.. if I can't arrange another data/broker solution that works with SC for the markets I want with servers where they should be. Using SC is not negotiable in my future plans. SC Eng dislikes them, per a recent post that has taken a leave of absence. |
| [2020-02-05 10:46:37] |
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It would not make any sense to be using Interactive Brokers for futures trading if you are looking for a quality data feed. The Interactive Brokers data feed is not a complete tick by tick feed. It is unacceptable for many of the advanced charting features Sierra Chart has. And also be aware of our comments here: ***Interactive Brokers is Garbage*** (Technical Support is Now Fully Ended!!) There are absolutely superior choices out there. Have a look at this service which is supported by many good clearing firms: Sierra Chart / Trading Technologies Futures Order Routing Service Now if you want to use Interactive Brokers for stock trading or Forex trading this is fine. But we can see no reason to be trading the major futures markets through Interactive Brokers if you are in the US or in Europe. There are other much more solid choices. And we are working to continue develop good relationships with best clearing firms to support our order routing service. Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing |
| [2020-02-05 15:20:29] |
| Chad - Posts: 231 |
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IB's been hard to beat in terms of exchange access and commissions (at least for modest volume as a retail trader). While researching their options data in 2011-2012, I noticed that in MANY cases their data was incomplete or plain wrong, especially with options on futures. As for account balance updates & such, seems they're not the best, but not the worst either. I see them as a necessary compromise on the stocks & options front. But I def agree with SC Engineering, their data feeds and API design are garbage. Their tech support staff is at least more useful than general support...I've got stories. Date Time Of Last Edit: 2020-02-05 15:21:36
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| [2020-02-05 16:15:22] |
| User875891 - Posts: 63 |
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IB's strength imo is their options ib day trading data feed=meh |
| [2020-02-05 16:48:28] |
| User753624 - Posts: 23 |
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I use the SC Denali feed for data and Interactive Brokers as my broker/ECN. Data through IB isn't much cheaper and has a reputation of being low quality so the Denali feed was a must for me. That combination has been solid (I've been using both for about 3 months or so) and it wasn't hard to setup at all. I was initially a bit apprehensive to use IB since the SC's page about them cautions against it, but I was more comfortable using them as a clearing firm than some of the smaller ones so I decided to go with them. I predominantly scalp and have been happy with the fill quality and speed of execution through IB. That being said, I am not a large trader yet so I don't know if things like slippage will become more of an issue with them when trading bigger positions, but I highly doubt it will be much of an issue. I also considered Dorman (which I have heard lots of good things about) but decided I'd rather go with IB since they're substantially larger (CFTC's financial data shows that their adjusted net capital is over $5 billion, making them one of the biggest clearing firms out there https://www.cftc.gov/MarketReports/financialfcmdata/index.htm). The kind people who I spoke to at Dorman were also less clear on the phone when I asked whether they would be able to function as both a broker and clearing firm. I considered AMP as well but found my interactions with them to be completely off-putting and didn't feel like I could trust funding an account with them (and reading reviews online about them didn't inspire much confidence). Tradovate was another company that I thought about but decided against because I didn't want to use an introducing broker. All in all, I think IB is a good option since they have reasonable commissions, an enormous user base which gives them the ability to continually update their technology, and they require a larger margin per contract. And, so far, my real world experience hasn't made me second-guess that choice at all. |
| [2020-02-25 05:44:26] |
| like2trade - Posts: 112 |
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User753624, I was also planning on using IB to trade with the SC data feed. After reading the negative posts by SC and the SC documentation regarding the unreliability of IB's API, I am very concerned about using them. Are you placing your trades through SC or in TWS? Have you yet experienced any of the negative scenarios described in the SC documentation? Does anyone else using IB and trading through SC have any feedback? Thanks. |
| [2020-02-25 12:42:02] |
| UserAR - Posts: 60 |
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I've been using IB and SC together for many months. Subscribe to the SC data feeds. You will become too frustrated with IB's data feeds as they are horrible for both futures and stocks. I only use TWS for the Level 2 data on stocks and to confirm my orders have been executed through SC. I'm just paranoid that IB's API will break so I usually confirm my orders took place through SC in TWS.
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| [2020-02-25 15:26:25] |
| User753624 - Posts: 23 |
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Hi like2trade, For the past few weeks I've been honing my methodology on SIM so I'm not aware if something has significantly changed in that period. That said, in order for Sierra Chart to work when it's set to work with IBKR, TWS must be running in the background and I haven't had any connectivity issues whatsoever. That leads me to believe that the API is still working just as well as it was before. When I did place live trades they were all made through the DOM on SC and the fills were very fast and reliable. In many instances they actually seemed to fill even more quickly than a typical limit order in SIM. By default TWS gives me a pop-up notification when I was filled both on entries and exits. Market orders were virtually instantaneous. I keep TWS minimized on the same computer that's running SC when I'm trading and the API has been fine in my experience. Prior to setting up SC with IBKR I was also nervous about doing so because of the documentation on the SC website (I'm not sure if they've recently added any more warnings to that page but I have seen the pop-up when SC is started up). I emailed a trader who's been in field for far longer than I have and who I know uses SC before I set things up the way I have them. I asked him what brokerage he uses and he told me that he uses IBKR without issues. I'm not sure if he has recently switched since SC is urging users to do so, but at the time he told me that he had no problems. In my opinion, I think the documentation on here tends to be a bit more intimidating than things are in practice. I was initially somewhat reluctant to get SC in the first place because I thought it would be difficult to setup, but it's actually been very easy to navigate and setup in the way that I like. Similarly, I was initially a bit apprehensive to ask for help from the SC support staff but all of my direct interactions with them have been very pleasant and they've been tremendously quick and helpful in their responses. So knowing that, I'm not about to switch brokers just due to the more recent messages. Also, before I setup SC with IBKR TWS, I spoke to their API department and they told me that SC is one of the top three most used third-party software packages with IBKR. Given that, I highly doubt that IBKR is going to allow their API to become unreliable since that could potentially result in a large loss of customers. Also given that IBKR's futures trading is a very large part of their business and they're one of the largest players according to the CFTC report that I referenced before, I'm inclined to believe that their order routing to the exchanges is top-notch, otherwise people would look elsewhere. The other reason that I'm going to continue using IBKR unless I personally experience consistent issues is because the alternatives typically require using an introducing broker. That's an additional moving part to something that already has multiple potential points of failure. All of that being said, keep in mind that I'm only one user and SC Support has far more insight into the intricacies of all of this. If you want to be a bit more conservative, then picking one of the services that works with SC Order Routing will probably be a good option. For what it's worth, if I did have to switch I'd probably seriously consider Optimus Futures if I had to use an introducing broker (had some very good interactions with Matt Zimberg) most likely using Dorman as the ECN. Tradovate, again using Dorman, also seems to be a good option. If I remember the commissions structure correctly I believe both would actually be a little cheaper than IBKR even with SC's order routing fee of 10 cents per side. If I was using SC Order Routing I'd likely get in touch with all of the different options that SC lists on their page to get a feel for each. For now though, I'm happy to stay with IBKR since they're a substantially larger broker and ECN than the other options. I hope that helps! |
| [2020-02-26 12:32:21] |
| rlotz1 - Posts: 11 |
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I've used SC with I.B.(and IB data) and Bracketrader(as a frontend to IB's TWS) for several years. I.B.'s data was essentially free a few years ago,but now you have to subscribe like other providers. It really depends on how and what you trade. I use 3,5,10 min charts on the ES,CL,etc. and the data is fine,but it is polled data. It comes in bunches, so if you need tick data, I.B. stinks. Their TWS platform is clunky and a bit of a hog,but you can customize it and it's not as easy as say Think or Swim. As a brokerage, I've never had a problem with them, but I don't usually need a lot of customer service. I usually get filled on the ES a second before the price prints on the chart. I.B. just stated that they looked to buy Etrade,but decided to stick to it's core customer base, which is institutional and professional traders. So it may not seem 'friendly' to some traders. It depends on your needs. |
| [2020-02-27 15:11:49] |
| User390455 - Posts: 56 |
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Trading SC + IB If you use IB, TWS is your trading software (Software that fil order). SC (DOM) is just a Front End of IB TWS. If you use SC + TT (Or CQG) + one Broker in this case your Trading Software (Software that fil order) is Sierra Chart. This is a totally different approach. In all cases, your charting and analysis software is SC. And Data Feed from SC is better. Conclusion If, you use SC + IB alway check your position and order in TWS. TWS is your trading software (Software that fil order). |
| [2020-02-27 15:46:13] |
| like2trade - Posts: 112 |
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User390455, Thank you for the explanation, it is very helpful. So just to clarify, when using SC + IB: 1. If you place a trade in SC, it will show in TWS. This is confirmation the order happened. 2. If you place a trade in TWS, does it show in SC? If so, where does it show? Trade orders window? Does it show as lines on a chart when chart trade mode is on? Thanks. |
| [2020-02-27 22:17:29] |
| User390455 - Posts: 56 |
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1. Yes, if you see Order or position in TWS (is the confirmation that the order happened or is fil). SC => IB API => TWS (send order) => IB Server => IB (send order at the Market) => IB Server (send confimation or error) => TWS (show order or error ...) When TWS show something this is open on the market. And SC check position / order with IB API. 2. Yes, if you place order with TWS this is show in SC. For exemple in chart (if the option is checked). You can change order on SC this change on TWS. Or change on TWS this change on SC. 3. If, one day, you have a problem, it is a problem of IB API, the communication interface between TWS and SC. In this case, you can manage all with TWS. Close your trading position for exemple and retart TWS and SC. Date Time Of Last Edit: 2020-02-27 22:18:55
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| [2020-02-27 22:51:14] |
| like2trade - Posts: 112 |
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User390455, Thank you very much, this is exactly what I needed to know. |
| [2020-02-27 23:05:02] |
| User390455 - Posts: 56 |
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Just 2 more details. 1. With SC + IB you can activate the server side OCO order. But you must enabled in Sierra Chart Setting : Interactive Brokers Trading Service: What is Included 2. You can activate a free Paper Trading Account with IB and test SC+IB before you trade Live. |
| [2020-02-27 23:11:22] |
| like2trade - Posts: 112 |
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User390455, Thank you very much, I will keep that in mind. |
| [2020-02-28 04:39:52] |
| User19165 - Posts: 346 |
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I've used IB for the past 15 years trading futures across a variety of timezones. You can't beat them for products offered at a reasonable price. You can find better commissions out there for the popular common markets but they won't offer the market diversity that IB offers. The software is counter-intuitive and non-standard so it can be confusing for people to use. A good example is their DOM. I have tried to use it several times but it is just so tedious that I always fall back to the standard and simple DOMs such as TT or Buttontrader. The customer service at IB is the absolute worst and if you do have a problem it will take you weeks to sort it out - that can be a huge pain for people in different timezones than the USA. One time they completely froze my account and never told me because I had made mistakes filling out their bank wire screen. I tried for 4 weeks to speak to someone that actually had any power to unfreeze the account but no one actually did anything. They would say, I'll pass this on to funding, or whatever it was but then they would not follow through and their was no record of them ever passing it on. Eventually I had the head of customer service email, Salvatore Reco and he promptly sorted it out. It was an absolute nightmare and I was very stressed about it. I wouldn't recommend their data at all - get a proper feed that is specializing in this area. For me, if I didn't require a variety of global markets, I wouldn't be with IB. Date Time Of Last Edit: 2020-02-28 04:41:56
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| [2020-02-28 13:11:40] |
| User390455 - Posts: 56 |
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Customer service People of European Economic Area (EEA) [UK + 26EU + CH + NO + IS] have IB UK for broker and customer service. The customer service of IB UK is in London. I never deal with IB US customer service. The same thing with IB Japan, IB Australia, IB HongKong, IB Canada, IB India witch manage certain countries. In other case, you are managed directly by IB US. Technicaly TWS DOM can not be used. Develop with IB API in C++ is very painful (Ilogical design model, Bad documentation). Charting is very crapy. Historica data for charting is not always exact. Data Feed is sufficient for Swing Trading, Option Trading (Combo, Swing, Volatility). But, not good for DayTrading. Solutions Use a 3 party DOM (SC, Button, MC, NT, TS, BT ....) Use a 3 party Charting + Hitorical data (SC ....) Use an other DataFeed Provider Date Time Of Last Edit: 2020-02-28 13:17:59
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| [2020-11-01 16:52:21] |
| User616224 - Posts: 6 |
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Hello, I'm paying for the datafeed from Sierra chart and I trade on my account by Interactive Brokers. Can I unsubscribe the data by IB and use the datafeed from Sierra instead? Thanks |
| [2020-11-01 17:03:29] |
| UserAR - Posts: 60 |
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It depends on what you trade/need. I trade futures and equities on IB and have the Denali feed and SC real time feed. I subscribe to IB's equities Level 2 data because SC doesn't offer this unfortunately.
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| [2020-11-01 23:14:33] |
| User19165 - Posts: 346 |
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You do not need to subscribe to IB data in order to be able to use them as your broker. That would result in a double subscription that is unnecessary unless you have needs like the person posting in #20.
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| [2020-11-01 23:41:55] |
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I subscribe to IB's equities Level 2 data because SC doesn't offer this unfortunately. We are planning on obtaining NASDAQ level 2 data which includes level 2 data for all US traded equities. And this is likely to actually be the case this time around because we are working on obtaining it directly from NASDAQ.
Sierra Chart Support - Engineering Level Your definitive source for support. Other responses are from users. Try to keep your questions brief and to the point. Be aware of support policy: https://www.sierrachart.com/index.php?l=PostingInformation.php#GeneralInformation For the most reliable, advanced, and zero cost futures order routing, *change* to the Teton service: Sierra Chart Teton Futures Order Routing Date Time Of Last Edit: 2020-11-01 23:42:17
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| [2020-11-02 00:52:05] |
| UserAR - Posts: 60 |
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That would be amazing! Looking forward to it. Thank you.
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| [2021-02-14 05:00:18] |
| User504778 - Posts: 22 |
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If it's not too much to ask, can you please also obtain LULD level for US equities as well as Level 2? That would be fantastic. We are planning on obtaining NASDAQ level 2 data which includes level 2 data for all US traded equities. And this is likely to actually be the case this time around because we are working on obtaining it directly from NASDAQ.
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| [2021-02-17 21:32:40] |
| User379468 - Posts: 508 |
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Can any SC USERS using IB through SC comment if this setup is still working reliably and well for them trading futures without major issues?
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