Tws ib

Tws ib DEFAULT

npm

Another node.js API client for Interactive Brokers TWS / IB Gateway. ES6 module this time and supports async/await syntax. No dependencies.

Code is based on official API, python version which can be found here.

Explore examples here.

Request/response methods:

import{Client}from'ib-tws-api';letapi=newClient({host: '127.0.0.1',port: 4001});lettime=awaitapi.getCurrentTime();console.log('current time: '+time);

Streaming methods:

letcontract=Contract.forex('EURUSD');lete=awaitapi.streamMarketData({contract: contract});e.on('tick',(t)=>{console.log(t.ticker);});e.on('error',(e)=>{console.log('error');console.log(e);});setTimeout(()=>{e.stop();console.log('shut down streaming');},10000);

Logging / debugging

Define

  • for debug info at logic level
  • for debug info at byte level

Commands

Not all commands provided by API are implemented since I use it for myself and I like to work only on something I use. But most essential are.

Feel free to PR if you want to support more commands.

Connects to TWS/IB Gateway application

  • defaults to 1
  • timeout in msec for request/response calls

Asks the current system time on the server side

Starts to stream market data.

Returns market data snapshot.

The API can receive frozen market data from Trader Workstation. Frozen market data is the last data recorded in our system. During normal trading hours, the API receives real-time market data. If you use this function, you are telling TWS to automatically switch to frozen market data after the close. Then, before the opening of the next trading day, market data will automatically switch back to real-time market data.

  • 1 for real-time streaming market data or 2 for frozen market data

Starts tick-by-tick streaming.

  • : int

Place new order

Cancel order

Request the open orders that were placed from this client. The client with a clientId of 0 will also receive the TWS-owned open orders. These orders will be associated with the client and a new orderId will be generated. This association will persist over multiple API and TWS sessions

Call this function to request that newly created TWS orders be implicitly associated with the client. When a new TWS order is created, the order will be associated with the client.

  • : If set to TRUE, newly created TWS orders will be implicitly associated with the client. If set to FALSE, no association will be made.

Call this function to request the open orders placed from all clients and also from TWS. No association is made between the returned orders and the requesting client.

Cancel all open orders globally. It cancels both API and TWS open orders.

Start getting account values, portfolio

  • :bool - If set to TRUE, the client will start receiving account and Portfoliolio updates. If set to FALSE, the client will stop receiving this information.
  • :str -The account code for which to receive account and portfolio updates.

Returns real-time position data for all accounts.

Cancels real-time position updates.

Download all details for a particular underlying.

  • :Contract - The summary description of the contract being looked up.

Requests contracts' historical data. When requesting historical data, a finishing time and date is required along with a duration string.

  • :TickerId - The id of the request. Must be a unique value. When the market data returns, it whatToShowill be identified by this tag. This is also used when canceling the market data.

  • :Contract - This object contains a description of the contract for which market data is being requested.

  • :str - Defines a query end date and time at any point during the past 6 mos. Valid values include any date/time within the past six months in the format: yyyymmdd HH:mm:ss ttt

  • :str - Set the query duration up to one week, using a time unit of seconds, days or weeks. Valid values include any integer followed by a space and then S (seconds), D (days) or W (week). If no unit is specified, seconds is used.

  • :str - Specifies the size of the bars that will be returned (within IB/TWS listimits). Valid values include: 1 sec 5 secs 15 secs 30 secs 1 min 2 mins 3 mins 5 mins 15 mins 30 mins 1 hour 1 day

  • :str - Determines the nature of data beinging extracted. Valid values include: TRADES MIDPOINT BID ASK BID_ASK HISTORICAL_VOLATILITY OPTION_IMPLIED_VOLATILITY useRth:int - Determines whether to return all data available during the requested time span, or only data that falls within regular trading hours. Valid values include:

  • : int - Determines the date format applied to returned bars. validd values include:

Note that formatData parameter affects intraday bars only 1-day bars always return with date in YYYYMMDD format.

  • : str
  • : int
  • : int
  • : Contract,
  • : bool,
  • : str
  • : Contract,
  • : str,
  • : str,
  • : int,
  • : str,
  • : int,
  • : bool,
  • : TagValueList

Requests an XML string that describes all possible scanner queries.

Requests security definition option parameters for viewing a contract's option chain requestId the ID chosen for the request underlyingSymbol futFopExchange The exchange on which the returned options are trading. Can be set to the empty string "" for all exchanges.

  • : contract of the underlying security. conId has to be specified
  • : str
  • : client-side filter of exchange of option's, since futFopExchange returns empty result when specified)

Events

  • on error
  • on connection closed
  • on market data tick

Contract shortcuts

  • - with extra fields

Order shortcuts

    I had to write that piece of code since I couldn't find acceptable Node.js client for IB but it wasn't desirable to add python to the project stack. Hope you won't have to repeat the same.

    Feel free to contact me if you need some extra (paid) help with your software.

    The software is provided on the conditions of the MIT license.

    Best Regards, Max Shaposhnikov [email protected]

    Sours: https://www.npmjs.com/package/ib-tws-api

     

    Q:Is Ninja Trader Compatible with the Trader Workstation (TWS) / IB Gateway*?

    A: TWS / IB Gateway Application Program Interface (API) accommodates connection to a variety of third-party vendors, including Ninja Trader, who offer complementary order entry, charting, back-testing and analytics software programs designed to expand the functionality of TWS. Please refer to the following Ninja Trader website link for details: http://www.ninjatrader.com/ConnectionGuides/Interactive-Brokers-Connection-Guide


    * IB Gateway support is available with Ninja Trader 8+

     

     

    Q:Can Ninja Trader be tested with the TWS platform demo* which IBKR makes available to prospective clients?

    A: Yes, but only on a limited basis as the platform demo is solely intended to demonstrate the functionality of the TWS and its API. As background, the TWS demo provides only delayed market data and does not offer the historical data necessary to populate Ninja Trader charts requiring a combination of streaming and historical data.  Once your live IBKR account is approved and funded a paper trading account may be requested, the market data subscriptions to which will accommodate full testing of the Ninja Trader application.

     

    *Demo can be accessed from the login screen of TWS (No Username? Try the Demo or during the opening process of an Account.

     

     

    Q:Is Ninja Trader compatible with all versions of TWS?

    A: No. There is an inherent lag between the time IBKR releases a TWS update and that at which any third-party vendor can reasonably respond with a corresponding software upgrade. In the case of Ninja Trader, its application is compatible solely with the Offline TWS platform (not the automatic update) and to determine the particular version currently supported, please refer to the following Ninja Trader website link: http://www.ninjatrader.com/ConnectionGuides/Interactive-Brokers-Connection-Guide 

     

     

    Q:Can the free delayed market data feed from IBKR be used with Ninja Trader?

    A: No. Though delayed market data is generally available through the API, some third-party vendors does not utilize these functions. Account holders seeking to use IBKR as a data source must subscribe to a real-time data feed through the Client Portal.

     

     

    Q: Is there any distinction between the rate at which Ninja Trader seeks to load chart data and that which the IBKR market data feed supports?

    A: As queries which request the same historical data within a short period of time may result in excessive back end server load, IBKR imposes pacing restrictions which, if violated, will generate error codes. In certain circumstances, the pacing of data requests through IBKR may delay the loading of the data through Ninja Trader, particularly when multiple charts and or symbols are loaded simultaneously. For details regarding the limitations IBKR imposes with respect to historical data queries, please refer to the following IB API guide link: https://interactivebrokers.github.io/tws-api/historical_limitations.html

     

     

    Q:Does IBKR support the market data required to populate Ninja Trader Range Bar charts?

    A: Range Bar charts generally depict the movement of price for a particular instrument over a defined time period (e.g. month, day, 5-minute, 3-minute, etc.) or tick increment. At this time many software vendors has not made the necessary updates to offer the tick-data provided by Interactive Brokers. Ninja Trader Bar charts require an alternate data source to eliminate data gaps.

    Please refer to the following Ninja Trader website link for a list of supported connectivity providers as well as the historical and real-time data provided by each: http://www.ninjatrader.com/support/helpGuides/nt7/index.html?historical_data.htm

     

     

    Q: It is possible to use different data source vendor between TWS and Ninja Trader interface?

    A: Yes. It should be noted that Ninja Trader does not operate as a vendor of market data and use of this application requires provision of data by a third-party connectivity provider. While IBKR can serve as this provider for real time prices, these prices are not provided on an unfiltered tick-by-tick basis, a prerequisite for fully populating Ninja Trader charts.  A common setup therefore, is to use Ninja Trader as a front-end order entry platform, routing orders to the TWS for execution and clearing by IBKR and bridge to a third-party vendor for market data.

      

     

    Q: Is Ninja Trader compatible with IBKR’s paper trading (simulation) account?

    A: Yes Ninja Trader connects to the paper trading account in the same manner as to the live account. To familiarize oneself with the configuration and operation of these applications, IBKR strongly recommends conducting test trades through the paper trading account prior to submitting orders through the live account.

     

     

    Q: How can orders submitted through Ninja Trader for execution through TWS monitored with TWS?

    A: Classic TWS contains a quote monitor page denoted by a tab marked “API” within the main window through which open orders submitted via Ninja Trader or any third party software application may be monitored. 

      

     

    Q:  Is Ninja Trader compatible with IBKR’s Financial Advisor and Friends & Family account type?

    A:  Yes, although not with the full order allocation functionality provided directly through the TWS. While Ninja Trader can be used to submit orders for a client sub-account through the Advisor master account, it does not allow for a single order to be allocated to more than one sub-account: http://www.ninjatrader.com/support/helpGuides/nt7/account_groups.htm. This is in contrast to the TWS user interface which provides for multi-client trade allocations from a single order (through the Account Group or Allocation Profile options).

     

     

    Q: How does one determine the cause of orders which have been submitted via Ninja Trader and subsequently canceled or rejected?

    A: An order which has been canceled or rejected will be accompanied by an error message generated by Ninja Trader and/or TWS depending upon the source of the action. Order cancellations/rejections may be attributable to a variety of factors including IBKR credit policies, exchange restrictions or an invalid user request. In situations where the error message is not self explanatory, the user will need to contact the technical support teams of IBKR and Ninja Trader to diagnose and troubleshoot the problem.

     

    Sours: https://ibkr.info/node/1978
    1. Ebay ring guards
    2. Starmarket hours
    3. Botw goty

    Table of contents

     

    Configuration instructions
    1. Can the TWS / IB Gateway operate through a Proxy server and how?
    2. If I use a SOCKS Proxy server, do I need to configure the TWS / IB Gateway?
    3. If I use a SOCKS Proxy server, do I need to configure the client machines where TWS / IB Gateway runs?
    4. If I use a Web (HTTP) Proxy server, do I need to configure the TWS / IB Gateway?
    5. What alternatives do I have in case I cannot implement a proxy solution on my network?
    Common issues
    1. Your computer is set up to use a Proxy but there is no actual Proxy running on the network
    Technical Background
    1. What is a Proxy server?
    2. Which types of Proxy servers are commonly used and where?

     

    Configuration instructions

    1. Can the TWS / IB Gateway operate through a Proxy?

    Upon start-up and as well during the run-time The TWS / IB Gateway needs to establish and maintain direct network connections to our gateways and market data servers1. Such connections are created from random local TCP ports (above 1024) and are directed to TCP ports 4000 (or TCP 4001 if you tick the "Use SSL checkbox" within the TWS login screen).  Since those are not HTTP connections, they cannot be serviced by a Web (HTTP) Proxy. They can only be serviced by a SOCKS Proxy.

    From within the TWS interface, you can access several external services, such as IBKR Client Portal, Statements, Contract details, Bond Search... Those services, being Web based, can be accessed through a Web (HTTP) Proxy (see section 6 for details and configuration) or through a SOCKS Proxy (see sections 4. and 5. for details and configuration). 

     

    2. If I use a SOCKS Proxy server, do I need to configure the TWS / IB Gateway?

    The TWS / IB Gateway does not contemplate an option for SOCKS proxy forwarding and hence does not have a place where an explicit SOCKS Proxy host/port can be configured. This does not mean that the TWS / IB Gateway cannot work with a Proxy. It simply means that the TWS / IB Gateway is unaware of the underlying SOCKS proxy set up (proxy-agnostic).

    Important Note: While it is impossible for us to determine whether a Proxy is enabled on your network, we assure you that all IBKR platforms, including the TWS, do not impact nor influence your network configuration.

     

    3. If I use a SOCKS Proxy server, do I need to configure the client machines where TWS / IB Gateway runs?

    The connections started by the TWS / IB Gateway can be redirected to a SOCKS (Application) Proxy through a specific client machine setup. We mention some of them below. Please note, that the final decision is yours and none of the below suggestions can be recommended by us as best adapted to your setup and requirements.

    3a. Using a Proxy Client software installed on the client machine where TWS / IB Gateway is running

    With this setup the Proxy client will intercept the connections (not only HTTP but for other ports as well) initiated by the TWS / IB Gateway and redirect them to a SOCKS proxy server. . The typical benefits of a transparent proxy include a standard enterprise
    configuration where all clients routed to the internet will always be filtered and protected no matter what the end users do, or change, on their machines and the added benefit of reduction in typical user’s client-proxy configuration troubleshooting.

    3b.Using a so-called Proxifier

    This configuration is very similar to the one at point 5a with the only difference that the Proxifier software can be set to redirect to a Proxy all the request started by a specific process (e.g. C:\Jts\tws.exe ; C:\JTS\ibgateway\XYZ\ibgateway.exe), hence instating a process level packet
    forwarding instead of a port level forwarding. This set up allows handling environments where different proxy servers are used for different applications or where you would like to address a specific application requirement without modifying/disrupting the connectivity schema for other software installed. The advantage of this solution is a minimal maintenance since the connectivity schema is bound to the process and not to the hosts/ports.

    3c.Using specific network routing on client machine

    With this setup you can modify the client machine standard network routes, adding new ones in order to forward packets with specific destinations (e.g. Order routing and Market Data servers1) to a different gateway.
    This gateway will then be in charge of routing those request to the destination hosts. This solution has as well the benefit of not modifying/disrupting the connectivity schema for other software installed but usually require more maintenance on the gateway and on the client machined in case the IP of the destination servers are changed or in case new servers are added.

     

    4.If I use a Web (HTTP) Proxy server, do I need to configure the TWS / IB Gateway?

    If the Workstations on your local network access the Web content through a Web (HTTP) Proxy, you need to specify the Web Proxy IP Address and port. To do this, click on More Options at the bottom of the TWS Login Screen, and enter your Proxy server details in the fields Host and Port (see Figure 1 below). The same fields are present in the IB Gateway Login Screen.

    Figure 1.

    The Web Proxy you set there will ONLY be used to fetch the web content accessible from within the TWS (e.g. Client Portal, Statements, Product Details, etc.)

     

    5. What alternatives do I have in case I cannot implement a proxy solution on my network?
    In this case you might orient yourself towards a different type of access to the IBKR infrastructure, which includes a special connection type and a FIX/CTCI engine setup. This setup would, on the other hand, have different requirements as well in terms of commissions2.  

     

    Common Issues

    6. What happens if the proxy configuration on your computer is wrong or outdated?

    Occasionally, a third-party software, even if already uninstalled, may left behind a SOCKS proxy configuration on your computer. This may also happen if your computer has been infected with malware. In such cases, the proxy server, although configured, is actually non-existent or not accessible on the network. In such scenarios, the TWS will show an error message (e.g. No Internet Connectivity) and/or start the "Connection attempt #" loop upon login. The same will happen if the Proxy server exists but it has not been correctly configured on the client machines.

    6a. How can I correct the proxy configuration if wrong?

    When applicable, we recommend you to always consult the IT / Networking team of your company first and ask for guidance.

    If you are autonomously managing your network, please follow the instructions below according to the Operating System of your machine/s:

    Windows

    W.1 Press CTRL+S to open the Windows search

    W.2 Type Proxy Settings and press Enter

    W.3 If no Proxy is present on your network, make sure the switch "Use a proxy server" is deactivated (see Figure 2 below). If a Proxy server is active on your network, make sure the Address (or hostname) and Port are correctly defined.

    Figure 2.

     

    Mac

    M.1 Click on the Apple icon at the top left corner of the screen and select System Preferences

    M.2 Click on Network

    M.3 Select the Network connection you are using to access the Internet (e.g. Wi-Fi) and click on it

    M.4 Click on the Advanced button and then on the Proxies tab

    5. If no Proxy is present on your network, make sure all the checkboxes (SOCKS Proxy, Web Proxy, Secure Web Proxy) are deactivated (see Figure 3 below). If a Proxy is present on your network, make sure the Protocol, Address (or hostname) and Port are correct.

    Figure 3.

     

    7. You are using Public proxies and proxy chains to hide your presence or identity

    There are public proxy and proxy chains services purposed to disguise or hide the identity and the activity of the subscriber or to bypass regional restrictions. One of the most famous of such services is the "Tor" network.

    While those services may not necessarily be used for criminal purposes, they render the subscriber traceability very difficult when not impossible. Since IBKR is obliged by the financial industry regulators to maintain records of trading activities and trade initiators, we do not allow our clients to reach our systems while using an anonymizing service. If you are using such service, your TWS connection attempts will be automatically rejected by our gateways.

     

    Technical Background

    8. What is a Proxy Server?

    A Proxy Server usually acts as a gateway and as a barrier between your local network and the Internet. The Proxy listens for outgoing connection requests from the internal workstation/s and forwards them to the desired target host or service on the Internet. When the target replies to such requests, the Proxy takes care of routing the incoming responses back to the internal workstation/s that initiated the process.

    Being the Proxy the only machine of your network actually accessing the Internet, it prevents the other machines and the internal segment of your network (LAN) from being accessible by external actors and hence from being exposed to threats and intrusion attempts.

    Additionally, a Proxy server can offer a variety of other services such as web content caching and filtering.

     

    9. Which types of Proxy servers are commonly used and where?

    Proxy server are commonly found within enterprise-grade networks. In the vast majority of cases proxies are not used by individuals since private broadband connections are established through consumer-grade routers that already offer built-in proxy/firewall solutions. An exception is represented by public proxy or proxy chains discussed in details in the section You are using Public proxies and proxy chains to hide your presence or identity

    There are two main types of Proxy servers:

    9a. Web (HTTP) Proxies

    The HTTP (Hypertext Transfer Protocol) defines the rules and the standards for fetching Web content from a Web server and rendering such content on your Web Browser.

    A Web Proxy handles only the routing of HTTP requests and HTTP responses. Those requests are transparently generated and sent by your browser whenever you access a Web page.  Such requests are normally sent using specific ports (TCP 80 and TCP 443), hence a Web Proxy usually listens for outgoing HTTP requests coming from your internal network (LAN) only on the TCP ports mentioned above.

    9b. SOCKS Proxies

    SOCKS (Socket Secure) Proxies are designed to handle any type of traffic (not only HTTP/S traffic), generated by any protocol or program (including Trader Workstation).

     

    Notes

    1. More information about the servers accessed by the TWS are available in IBKB2816.

    2. For an overview of the different special connection options and related requirements, please click here.
    For an overview of the FIX infrastructure, please click here

     

    Sours: https://ibkr.info/article/3378
    TWS for Beginners - Getting Started

    Global Trading Platform - IB Trader Workstation

    TWS Platform

    Our market maker-designed IB Trader Workstation (TWS) lets traders, investors and institutions trade stocks, options, futures, currencies, bonds and funds on over 135 markets worldwide from a single integrated account.

    TWS Mosaic

    Mosaic provides intuitive out-of-the-box usability with quick and easy access to comprehensive trading, order management, chart, watchlist and portfolio tools all in a single, customizable workspace.


    TWS Mosaic global trading platform.
    • Get direct access to TWS trading, order, live quoting, technical research and analysis tools all in a single window.
    • Use the Portfolio window for at-a-glance account summary and position detail, the Order Entry window to formulate and transmit orders instantly, and the Order Monitor to track and modify live orders and review filled and cancelled orders.
    • Create attached orders directly within the Orders panel, including bracket, stop limit, profit taker, One Cancels Other, beta, FX order and pair hedging orders.
    • Add multiple Watchlists to view groups of instruments and create customized Market Scanners.
    • Add gradients, lines and bars to Market Scanners for easy-to-spot trends and patterns.
    • View interactive, customizable charts that support studies and trendlines.
    • View real-time streaming general news that you can filter by subject, as well as real-time streaming news for a selected underlying.
    • Enhance Mosaic with premium newswire and analyst research subscriptions from such tier-one providers as Reuters, Dow Jones, Morningstar and Zacks.
    • Customize the workspace to suit your own trading needs by snapping your favorite trading tools together.
    • Link windows and symbol action by color using the grouping blocks, and watch the symbol automatically change in every linked window when you change the symbol in one window.
    Classic TWS online trading tools: assets allocation models.

    Classic TWS

    Classic TWS offers quick click order entry from bid and ask prices, with the order row displayed directly beneath the Market Data row. Classic TWS is always available to traders who need more advanced tools and algos.

    Research, News and Market Data

    Get real-time access to comprehensive news, research, fundamentals and market data including:

    • Up-to-the-minute news from leading news services such as Reuters, Dow Jones, flyonthewall.com, and more.
    • World-class analyst research from Morningstar, Zacks and a host of other providers.
    • Mission-critical financial information on thousands of companies from Reuters Worldwide Fundamentals.
    • Real-time global market data on specific exchanges.
    • Event calendars.

    Learn More

    View Pricing

    Global trading system news and market data.

    Real-Time Monitoring

    Our real-time monitoring system lets you see the current state of your account at any time to give you the edge you need in changing market conditions.

    Learn More


    Account Window

    View account balances, margin, funds available for trading, market value and portfolio data for all of your products in the customizable, easy-to-read Account window.


    Margin Requirements

    Stay on top of your margin requirements with quick-glance summaries of potential deficiencies that help you avoid liquidation, and try "what if" Portfolio Margining to see your margin requirements using the Portfolio Margining system.


    Trades

    See daily executions as well as net trading activity by symbol in our expandable trade reports.


    Watchlists

    Create Watchlists to monitor real-time market quotes based on your market data subscriptions. Create, resize and move multiple named Watchlist windows to fit your own trading style.


    Alerts

    Create real-time alerts based on price, time, margin and volume that notify you of important changes in the market.


    Profit and Loss

    View P&L on your trading screen and in the Account window.


    IBKR Order Types and Algos

    Trader Workstation offers access to over 100 order types and algos. Order types and algos may help limit risk, speed execution, provide price improvement, allow privacy, time the market and simplify the trading process through advanced trading functions.

    Learn More

    Risk Management

    Our sophisticated risk-assessment technology helps you manage your risk in a dynamic market.


    Global trading IB Risk navigator.
    The IB Risk NavigatorSM

    The IB Risk Navigator is a real-time market-risk management platform that provides a comprehensive measure of risk exposure across multiple asset classes around the globe.


    Learn More



    Online trading tools asset allocation model navigator
    Model Navigator

    Modify pricing assumptions and include them in the model price calculation using this sophisticated option model pricing tool.


    Learn More



    Global trading platform options analytics.
    Option Analytics

    Use the Option Analytics window to see values that reflect the rate of change of an option's price with respect to a unit change in each of a number of risk dimensions.


    Learn More



    Paper Trading

    Practice your trading skills in a simulated trading environment with a Paper Trading account. Watch how your strategies play out as you develop, practice and perfect the skills you'll need to trade without risking any of your own money.

    • Test new strategies, products, exchanges, order types with prices and account values determined by actual market conditions – all without risk.
    • Access essential trading tools – real time charts, executions, market depth, option pricing, price risk analytics and more.
    • Learn market dynamics for new exchanges and products.
    • Access a Paper Account statement every day you trade.
    • Test your IB API (Application Program Interface) trading solutions.

    How it Works

    • The TWS PaperTrader works just like your production account. You can use most IBKR order types, trade all instruments available through the TWS, and experiment with almost every aspect of the TWS platform.
    • The PaperTrader interface clearly indicates that you are working in a simulated account. If you do not see this, you are trading in your production account and will be liable for all trades that fill.
    • Trades entered into this paper trading account will not actually execute on any exchange or settle at a clearing house. However, the price of your executions will be determined by real market prices and sizes.
    • Trading permissions, market data subscriptions, base currency, and other account configurations are the same as specified for your regular account.
    • A paper trading account statement will be provided each day and is available by logging into Account Management with your PaperTrader login and accessing the Reports menu.
    • All clients will start with USD 1,000,000 of paper trading Equity with Loan Value, and this equity will fluctuate as if the trades had executed in the real market.
    • You may reset your cash equity at any time by accessing Account Management for your paper trading account and selecting the Trade menu. Your account will be reset to the greater of either USD 100,000 or five times the total equity of the your production account. Note that reset requests should be entered before 16:00 ET in order to take effect for the next business day.

    Limitations

    Although the paper trading account simulates most aspects of a production TWS account, you may encounter some differences due to its construction as a simulator with no execution or clearing abilities. These differences include but are not limited to:

    • No support for some order types including: Passive Relative, Auction, RFQ, and Pegged to Market.
    • Fills are simulated from the top of the book; no deep book access.
    • Limited combo and EFP trading.
    • Stops and other complex order types are always simulated in paper trading; this may result in slightly different behavior from a TWS production account.
    • Penny trading for US Options is not supported. You will be able to submit the order but it will not receive a penny fill.
    • The trade simulator will reject the remainder of any exchange-directed market order that partially executes. This may or may not match behavior of a real-world exchange. Market orders received while there is no quote on the opposite side will be held until the market data arrives (i.e. until the first partial fill).
    • Mutual Fund trading is not supported in a paper trading account.

    This version of the Trader Workstation platform is only available from a desktop computer.

    Click the button below if you would like to learn more about our mobile trading solutions.


    Learn More



    Click a version of TWS below to download and install our award-winning trading platform. Once the software is installed, log in by double-clicking the newly installed TWS icon on your desktop. If you prefer to perform manual updates use the Offline installers.


    TWS Latest

    Windows: 32 bit | File Size: 4MB | Version



    TWS

    Windows: 32 bit | File Size: 4MB | Version



    TWS Beta

    Windows: 32 bit | File Size: 4MB | Version





    Offline TWS

    The offline installer contains everything needed to install and run the selected TWS version. The Offline installation will not update automatically. If a new version of TWS is published, you will need to manually download and install the Offline program again. If you prefer to have TWS auto-update, install one of the updating versions above.


    Sours: https://www.interactivebrokers.com/en/index.php?f=14099

    Ib tws

    Audience

    The TWS API is a simple yet powerful interface through which IB clients can automate their trading strategies, request market data and monitor your account balance and portfolio in real time.

    Our TWS API components are aimed at experienced professional developers willing to enhance the current TWS functionality. Regrettably, Interactive Brokers cannot offer any programming consulting. Before contacting our API support, please always refer to our available documentation, sample applications and Recorded Webinars

    This guide reflects the very latest version of the TWS API -9.72 and higher- and constantly references the Java, VB, C#, C++ and Python Testbed sample projects to demonstrate the TWS API functionality. All code snippets are extracted from these projects and we suggest all those users new to the TWS API to get familiar with them in order to quickly understand the fundamentals of our programming interface. The Testbed sample projects can be found within the samples folder of the TWS API's installation directory.

    • • The TWS API is an interface to TWS or IB Gateway, and as such requires network connectivity to a running instance of one of these programs. • To obtain the TWS API source and sample code, download the API Components.
      • To make use of TWS API 9.72+, will require TWS build 952.x or higher.
      • A working knowledge of the programming language our Testbed sample projects are developed in.
    • • To obtain the TWS API source and sample code, download the API Components.
      • To make use of TWS API 9.72+, will require TWS build 952.x or higher.
      • A working knowledge of the programming language our Testbed sample projects are developed in.
      • Java 8 or higher is required for running the Java API client.
    • • To obtain the TWS API source and sample code, download the API Components.
      • To make use of TWS API 9.72+, will require TWS build 952.x or higher.
      • A working knowledge of the programming language our Testbed sample projects are developed in.
      • Microsoft .Net Framework 4.5 or higher is required for running the VB API client.
    • • To obtain the TWS API source and sample code, download the API Components.
      • To make use of TWS API 9.72+, will require TWS build 952.x or higher.
      • A working knowledge of the programming language our Testbed sample projects are developed in.
      • A compiler that supports C++11 is required for running the C++ API client.
      • For Windows users who use Visual Studio, a version of 2012 or higher is required.
    • • To obtain the TWS API source and sample code, download the API Components (API version 9.73 or higher is required).
      • To make use of TWS API 9.73+, will require TWS build 952.x or higher.
      • A working knowledge of the programming language our Testbed sample projects are developed in.
      • Python version 3.1 or higher is required to interpret Python API client.

    Our programming interface is designed to automate some of the operations a user normally performs manually within the TWS Software such as placing orders, monitoring your account balance and positions, viewing an instrument's live data... etc. There is no logic within the API other than to ensure the integrity of the exchanged messages. Most validations and checks occur in the backend of TWS and our servers. Because of this it is highly convenient to familiarize with the TWS itself, in order to gain a better understanding on how our platform works. Before spending precious development time troubleshooting on the API side, it is recommended to first experiment with the TWS directly.

    Remember: If a certain feature or operation is not available in the TWS, it will not be available on the API side either!

    Requests

    The TWS is designed to accept up to fifty messages per second coming from the client side. Anything coming from the client application to the TWS counts as a message (i.e. requesting data, placing orders, requesting your portfolio... etc.). This limitation is applied to all connected clients in the sense were all connected client applications to the same instance of TWS combined cannot exceed this number. On the other hand, there are no limits on the amount of messages the TWS can send to the client application.

    Paper Trading

    If your regular trading account has been approved and funded, you can use your Account Management page to open a Paper Trading Account which lets you use the full range of trading facilities in a simulated environment using real market conditions. Using a Paper Trading Account will allow you not only to get familiar with the TWS API but also to test your trading strategies without risking your capital. Note the paper trading environment has inherent limitations.

    Intel® Decimal Floating-Point Math Library

    This product includes Intel® Decimal Floating-Point Math Library (in binary form) developed by the Intel Corporation under its license which can be found here.

    linkarrow_external.png

    Links pointing to sources out of this documentation are indicated it as such

    Sours: https://interactivebrokers.github.io/tws-api/introduction.html
    Interactive Brokers Platform Tutorial for Day Trading 2021 (Level II, Hotkeys, Indicators etc)

    Interactive Brokers Review

    Founded in 1993, Interactive Brokers (aka "IBKR") has a streamlined approach to brokerage services that focuses on broad market access, low costs, and superior trade execution. Customers can trade stocks, options, futures, forex, bonds, and funds on 135 markets from a single integrated account. In late 2020, the company launched its Impact Dashboard, which helps you evaluate assets with a socially responsible investing (SRI) lens.

    Overall, Investopedia has consistently found Interactive Brokers to be one of the best brokers for professional traders and sophisticated, active traders who want to take advantage of a powerful suite of tools and global access to a wide range of assets. We’ll take a deeper look at Interactive Brokers to help you decide whether it is the right fit for your investing needs.

    Aside from this Interactive Brokers review, we've also reviewed the Interactive Advisors robo-advisor service.

    Key Takeaways

    • Interactive Brokers consistently scores high in our trading and low cost awards categories.
    • Interactive Brokers offers an extensive range of asset classes (including stocks, options, futures, and bonds) in 135 markets across 33 countries.
    • IBKR boasts an advanced trading platform with excellent technical and fundamental analysis.
    • IBKR accepts clients from more than 220 countries and territories, with offices in the U.S., Switzerland, Canada, Hong Kong, U.K., Australia, Hungary, Russia, Japan, India, China, Luxembourg, Estonia, Singapore, and Ireland (the last two were new in 2020).

    Who Interactive Brokers Is For

    Interactive Brokers is ideal for institutional investors and sophisticated, active traders who want a robust trading platform and access to a long list of asset classes. The broker has attempted to broaden its appeal, introducing new products, services, and educational content aimed at less active traders and investors. However, IBKR's reputation as a professional-level platform may still scare off less-experienced investors. The company accepts clients from more than 220 countries and territories and supports trading on 135 markets across 33 countries, using 23 currencies.

    Pros
    • Wide range of offerings around the world and across asset classes

    • Superior order execution

    • Excellent trading tools

    • Low margin interest rates

    Cons
    • IBKR's SmartRouter not available to IBKR Lite clients

    • Can be intimidating to less experienced and less active investors

    • No backtesting of custom trading algorithms or automated trading

    Pros Explained

    • Interactive Brokers supports an extensive lineup of trading products (including stocks, options, futures, forex, bonds, and funds) on 135 markets across 33 countries. In addition to direct access to global exchanges, IBKR supports a large inventory of fixed income products, including various European corporate bonds and Euro-denominated government bonds.
    • IBKR's "SmartRouting" software provides clients with the best price execution in the industry. It searches for the best firm stock, option, and combination prices available when you place an order and seeks to immediately execute your order. A third-party transaction analysis provider determined that IBKR has a net price improvement of $0.62 per 100 equity shares.
    • IBKR's Trader Workstation (TWS) platform is powerful enough for professional traders but designed for retail traders and investors, too. You'll find tons of technical analysis tools, Social Sentiment by Social Market Analytics, ESG scores from Refinitiv, and access to company fundamentals data on stocks and mutual funds through Fundamentals Explorer.
    • IBKR's margin interest rates are significantly lower than the industry average. The company uses a blended rate based on tiers: For example, for a balance over $1 million, the first $100,000 is charged at the Tier I rate, and the next $900,000 at the Tier II rate.

    Cons Explained

    • IBKR's SmartRouter is not available to IBKR Lite clients. The IBKR Lite order router prioritizes payment for order flow (PFOF), which IBKR does not share with customers. Additionally, IBKR Lite customers don't have access to the IBKR Web Trader platform or IBKR APIs.
    • Interactive Broker's powerful platform can be intimidating to less experienced and less active investors. IBKR offers a lot—products, tools, resources, services, and so on—and the steep learning curve can be overwhelming at first.
    • While IBKR is a very advanced platform, there are some gaps. Traders can't currently backtest custom trading algorithms (algos) or automate trading with the standard IBKR software. Advanced traders looking for these features will need to use a third party application programming interface (API).

    Usability

    IBKR's onboarding process has gotten easier in recent years. You can even open an account without funding it right away (you have 90 days to do so). The website is well-designed, and the Client Portal and IBot—an AI-powered digital assistant—can help you find what you need.

    Interactive Brokers supports multiple trading platforms, including desktop, web, and mobile versions (IBKR Mobile), which are available for Android and iOS devices. The app has nearly the same functionality as the web platform, though neither is as robust as Trader Workstation (TWS), the company's flagship trading platform.

    You can trade the same asset classes on any platform. Similarly, you have access to real-time streaming data, charting, drawing tools, research, and news on all the platforms. News is available from dozens of sources, including Benzinga, Dow Jones, Morningstar, Seeking Alpha, Thomson Reuters, Refinitiv, and in-house commentary. Premium news subscriptions are available for a monthly fee. Any mobile watchlists you create are shared with the web and desktop platforms.

    Trade Experience

    IBKR's Client Portal is a good place to check on positions, get a real-time view of your accounts, and place basic trades. It's easy to access a trade ticket and set up trade defaults. That being said, most investors who are looking to make the most of an Interactive Brokers account will be using Trader Workstation (TWS).

    TWS offers a lot more functionality and is designed for active traders and investors who demand flexibility and trade multiple products. You can define hotkeys to place orders quickly, and you have the option to stage orders for later execution—either one at a time or in a batch. You can set a date and time for an order to be transmitted or submit a conditional order that becomes active after specific conditions are met, such as when an existing order executes. You can even connect an application to TWS to place automated trades or subscribe to trade signals from third-party providers.

    You can place, modify, and manage orders directly from the chart. You'll find streaming real-time quotes, charting, and news across platforms—even if you're using multiple devices simultaneously.

    Mobile Trade Experience

    You can trade the same asset classes and order types (including conditional orders) on IBKR mobile and TWS. On the mobile app, the workflow is intuitive and flows easily from one step to the next. The mobile platform offers the same research capabilities as the Client Portal, including screeners and options strategy tools.

    Range of Offerings

    Interactive Brokers has the largest selection of asset classes in the brokerage industry. It regularly adds new products based on customer demand and links to new electronic exchanges as soon as practical. Customers can trade nearly 35,000 mutual funds, about 8,300 of which are no transaction fee funds (all funds in its marketplace are no-load).

    Here's a rundown of IBKR's offerings:

    • Stocks long and short (about 16,500 available to borrow)    
    • OTCBB (penny stocks)
    • Mutual funds (world's largest mutual fund marketplace with nearly 35,000 funds and 8,300+ no transaction fee funds)
    • Bonds: corporate, municipal, treasury, CDs, international    
    • Single-leg and multi-leg options, up to 8 legs   
    • Futures and futures options      
    • Robo-advisory, Interactive Advisors, integrated into the website and IBKR mobile
    • International (135 exchanges in 33 countries where you can trade stocks, options, futures, forex, bonds, funds, and contracts for differences from a single integrated account)    
    • Forex (23 currencies and 115 trading pairs)     
    • Fractional share trading on U.S. stocks listed on NYSE, AMEX, NASDAQ, ARCA, or BATS, as well as OTC Pink U.S. penny stocks with average daily volume above $10 million and market cap above $400 million. Non-U.S. stocks are not available for fractional shares trading. (Note: TWS Build Version 979 or later is required to trade fractional shares.)
    •  IPOs, warrants, and single stock futures
    • Cryptocurrency (Bitcoin, Ethereum, Litecoin, Bitcoin Cash) in addition to cryptocurrency futures, indices, and ETFs

    Order Types

    IBKR supports a flexible array of order types on the Client Portal and mobile app, as well as over 100 order types and algos on Trader Workstation. One-triggers-other (OTO) orders are supported on TWS with attached orders and on mobile as part of bracket order functionality. With one-cancels-other (OCO) orders, you can choose from and combine logical conditions from price, time, and volume variables (using <, =, > operators), as well as margin cushion, daily P&L, percent change, number of shortable shares, and rebate rate.

    Trading Technology

    IBKR's SmartRouting technology incorporates both spray and sequential order routing methodologies, depending on the order and specific market conditions. A third-party transaction analysis provider shows that IBKR has a net U.S. dollar price improvement of $0.62 for 100 shares, which is $0.47 better than the industry average of $0.15.

    Interactive Brokers' order execution engine reroutes all or part of your order to achieve optimal execution, attain price improvement, and maximize any potential rebates. To help provide price improvement on large volume and block orders—and take advantage of hidden institutional order flows—IBKR includes eight dark pools in its SmartRouting logic. For options traders, SmartRouting represents each leg of spread orders independently and submits each leg at the best possible venue.

    Keep in mind that IBKR Lite customers don't have access to the company's SmartRouting technology. Instead, the order router for Lite customers prioritizes payment for order flow, which IBKR does not share with customers.

    The TWS Portfolio Builder tool lets you analyze the historical performance of a set of stocks chosen using one of the available investment rules. However, you can't backtest custom algos or automate your trading using the IBKR software—you'll need a third-party API application if you want these features.

    Costs

    Interactive Brokers' pricing scheme is complicated. It includes three types of commissions for U.S. equities:

    1. Fixed per-share pricing of $0.005 per share traded with a $1.00 minimum and a maximum of 1% of the trade value. Includes all exchange and most regulatory fees.  
    2. Tiered per-share pricing based on monthly order activity. This ranges from a high of $0.0035 per share for less than 300,000 shares per month to $0.0005 per share if you trade more than 100 million shares per month, with a minimum of $0.35 per trade. It does not include exchange and regulatory fees.
    3. The IBKR Lite program, which offers free trades for U.S.—listed equities and ETFs (via the Client Portal and IBKR Mobile). Trades are routed to generate payment for order flow.

    Here's a closer look at IBKR commissions and fees, assuming you use the fixed rate per share system:

    • A transaction for one share or less (for those trading fractional shares) generates the lesser of 1% of total trade value or a minimum charge of $1.00. Trading 1,000 shares costs $5.00 (free for IBKR Lite clients).
    • The same fees are charged for OTCBB (penny) stocks, though you must meet specific requirements to trade this asset class.
    • There is no per-leg fee for trading options. You'll pay $0.65 per contract for options trades with a minimum commission of $1.00. Low value contract fees drop to $0.50 (premium $0.05–$0.10) or $0.25 (premium under $0.05).
    • Trading a single contract is $1.00. Trading 50 contracts costs $32.50.
    • Covered call trade of 500 shares plus five contracts costs $5.75.
    • Mutual fund fees are the lesser of 3% of trade value or $14.95 for funds that aren't on the no-transaction fee list. 4.95 Euros for international funds.
    • Margin interest for Pro customers is 1.59% for balances up to $100,000 and 2.59% for Lite customers. These are the lowest interest rates among the brokers surveyed. Margin interest for Lite customers is 1% higher than the Pro rate.
    • No fees to close or transfer an account.
    • No inactivity fees on any accounts as of July 2021.
    • No fee for exercise and assignment or voluntary reorganizations.
    • Clients can send one wire per month at no charge; there is a fee of $10.00 for each subsequent wire sent. There's no fee to receive a wire.
    • Clients can send one paper check per month at no charge; there is a fee of $4.00 for each subsequent check sent.
    • Futures trades are $0.85 per contract (plus exchange and regulatory fees). Volume tiered between $0.25 and $0.85 per contract.
    • Forex trades cost between 0.20 and 0.08 basis points, depending on volume.
    • 96 ETFs can be traded with no commission for clients on the fixed or tiered commission plans—otherwise, it's $0.005 per share with a minimum of $1.00 per order.
    • Broker-assisted equity trades are $30.00 and are limited to closing trades. Clients can place trades through a live broker for large block orders and for fixed income transactions; fees vary.

    How This Broker Makes Money From You and for You

    The fees and commissions listed above are visible to customers, but there are a few behind-the-scenes ways IBKR makes money from you (and for you):

    • Interest on cash: Like most brokers, IBKR generates interest income from the difference between what you are paid on your idle cash and what it can earn on customer cash balances. Some brokers pass part of these earnings on to customers. As of April 2021, IBKR clients earn no interest on any cash balances.
    • Payment for order flow: Many brokers generate income by accepting payment from market makers for directing orders to those trading venues. This is called payment for order flow. As of 12/31/2019 (the most recent data provided by Interactive Brokers), IBKR received an average of $0.0167 per share in payment for order flow on orders in U.S. exchange-listed equities. For options, IBKR received an average of $0.3612 per contract.
    • Stock loan programs: Stock loan programs generate revenue for brokers when stocks held in customer accounts are loaned to other traders or hedge funds, usually to sell that stock short. IBKR pays you 50% of the income it earns from lending the shares. The program is available to customers who have been approved for a margin account or have a cash account with at least $50,000.
    • Price improvement: IBKR's smart order router seeks out price improvement and attains an average of $0.47 per 100 shares traded. 
    • Portfolio margining: Eligible IBKR clients can apply for portfolio margining, which can lower the margin you need based on the overall calculated risk. Typically, portfolio margining works best for customers who trade derivatives that offset the risk inherent in their equity positions. 

    Account and Research Amenities

    Interactive Brokers has numerous screeners, tools, calculators, idea generators, and research to help you find your next trade.

    Stock and ETF Screener

    The TWS Market Scanners tool lets you scan global markets for the top instruments (including stocks, ETFs, options, futures, bonds, and indexes) based on the parameters and filtering criteria you define. You can use the 49 predefined scanners or create a custom one. It's possible to transmit orders directly from a scanner and save a scan as a template to use again. The Fundamentals Explorer (on both TWS and Client Portal) dives deep into hundreds of data points covering historical trends, industry comparisons, key ratios, forecasts, ratings, ownership, and more. There's a stock scanner on Client Portal, but it's not as powerful as the one on TWS. 

    Options Screener

    IBKR offers several tools to help you find your next options trade. The Probability Lab translates an equity's option price into the market's price forecast for that equity. Customers enter a price forecast, and the Lab provides strategies with the richest Sharpe ratio. The Option Strategy Lab generates option strategies based on price and volatility forecasts for a stock. The Option Strategy Activity Scanner scans most active multi-leg option strategies for a given ticker, or you can search by other options-related metrics such as volume and open interest.

    Mutual Fund Screener

    You can search for mutual funds and filter using over 170 variables with IBKR's Mutual Fund scanner (added in 2020), available in both Mosaic and Advanced Scanners in TWS. There's also a Mutual Fund Replicator, which scans the market for lower-cost ETFs that replicate the performance of a specific mutual fund. IBKR has more than 26,500 mutual funds and about 1,200 ETFs available to search. Customers can also use the Fundamentals Explorer tool to get detailed information on mutual funds, including expenses, performance, Lipper ratings, and more.

    Fixed Income Screener

    Bond Scanner, created in 2019, explores IBKR's entire fixed-income inventory, which is vast. You can search by asset class, include or exclude specific industries, find state-specific munis, and more. This tool is not available on mobile.

    Charting

    Charting helps you process market data into something meaningful. IBKR's charts are fully customizable, and you can set chart parameters, modify them from within a chart using the Edit menu, and save a chart layout as a template. You can choose the time period, primary display, bar type (TWS native charting offers Line, Bar, Candle, Historical Volatility, Implied Volatility, Option Open Interest, Option Volume, Heikin-Ashi, and Hollow Candles), volume plot height, dividends, number of bars to display, and the vertical scale—plus dozens of additional chart parameters. Technical traders will enjoy more than 120 technical indicators and a suite of easy-to-use drawing tools.

    Tools and Calculators 

    Numerous calculators are available throughout the platforms, including options-related calculators, margin, order quantity, interest, and financing.

    Trading Idea Generator 

    IBKR customers can use Capitalise, IBKR Market Signals, Benzinga, and Refinitiv Significant Developments for idea generators. The blogs contain trading ideas as well.

    News

    Dozens of real-time news sources are available on all platforms. The list includes 24/7 Wall Street, AccessWire, Benzinga Pro News, Benzinga Crypto News, Briefing.com, China Perspective, China Investment Insight, Dow Jones North American Briefing, IBKR Market Signals, IBKR Quant Blog, IBKR Traders' Insight, Insider Insights, Market Realist, Morningstar Insider Trade Log, Seeking Alpha, StreetInsider.com Top News and Analyst Actions, TalkMarkets, The Motley Fool, Thomson Reuters Global Financial Market News, TipRanks Market News, Refinitiv Briefs, Refinitiv Transactions, and Zacks Investment Research Newswire. Premium news subscriptions are available for a monthly fee.

    Third-Party Research

    IBKR customers have access to dozens of free and premium market research and news providers, including AltaVista Research (ETF and mutual funds), Edison Investment Research, EventShares Research, ETF Guide, Morningstar Equity Ownership, Reuters Stockreports+, ValuEngine, and Zachs.

    The redesigned Fundamentals Explorer is available on all IBKR trading platforms. This tool lets you dive deep into hundreds of data points covering historical trends, industry comparisons, key ratios, forecasts, ratings, ownership, and more. You can see how a company compares to competitors and industry averages across various data points, as well as how the company has performed over time with historical trends.

    Dividend Reinvestment Program

    IBKR Clients can set an account-wide default for reinvestment of dividends on qualifying stocks.

    Cash Management

    IBKR doesn’t provide a cash sweep program and there is no interest paid on idle cash balances.

    SRI/ESG Research Amenities

    The Impact Dashboard—available on TWS, Client Portal, and the mobile app—helps you evaluate and invest in companies that align with your values. Select your investment criteria from 13 impact values and principles, including clean air, pure water, ocean life, land health, consumer safety, ethical leadership, gender equality, racial equality, LGBTQ inclusion, company transparency, sustainable product lifecycle, mindful business models, fair labor, and thriving communities. You can also exclude investments based on 10 categories: animal testing, business ethics controversies, corporate political spending and lobbying, energy-intensive, fossil fuels, greenhouse emissions, hazardous waste, high water usage, tobacco, alcohol and gambling, and weapons and gun manufacturers.

    Portfolio Analysis

    IBKR's PortfolioAnalyst consolidates, tracks, and analyzes your complete financial performance. You can link your investments, checking, savings, annuity, incentive plan, and credit card accounts to get an overall view of your financial situation—and plan for the future. The tool is free for all to use (even if you don't have an IBKR account), but only customers get to use PortfolioAnalyst's advanced features and real-time portfolio updates.

    All balances, margin, and buying power calculations are in real-time. You can calculate your internal rate of return in real-time, as well. IBKR's proprietary Tax Optimizer tool lets you set a default matching method, which you can override for specific symbols if desired. To help you maximize tax efficiency, the Tax Optimizer provides a "what-if" capability, which provides a preview of P&L for each of the matching methods.

    IBKR's TWS offers the Trader's Journal, a note-taking feature that lets you record and save trading notes and ideas on any product. You can save screenshots as part of a note, attach notes to trades, and configure charts to display both orders and executed trades. This is one of the more comprehensive trading journals available from any brokerage.

    Education

    IBKR provides a broad range of investor education programs for customers and the public. Traders Academy (revamped in 2020) is an online, on-demand resource that features a structured, rigorous curriculum intended for financial professionals, investors, educators, and students who want to learn about asset classes, markets, currencies, tools, and functionality available on IBKR's trading platforms.

    Quizzes and tests benchmark student progress against learning objectives and allow students to learn at their own pace. Examples of course offerings include introductions to asset classes such as options, futures, forex, international trading, and bonds, and how to use margin. Some courses cover the various IBKR technology platforms and tools. The website includes a trading glossary and FAQ.

    IBKR and industry experts offer daily webinars. These events cover various topics, including how-tos for platforms and tools, options education, trading international products, and more. There are hundreds of recordings available on-demand in multiple languages, including English, Spanish, Chinese, Italian, and French.

    Customer Service 

    IBKR has long been considered short on customer service, but the company is working to improve its reputation. One feature it added a couple of years ago is an IBot service, powered by an artificial intelligence engine, which answers questions asked in plain English. IBot is available throughout the website and trading platforms and can help customers find answers—without having to endure long wait times.

    • Toll-free telephone support is available 24 hours a day, six days a week
    • Callback service lets you request a call back if you need to hang up and don't want to lose your place in line
    • Online chat with a human agent (available from within the trading platform or website)
    • Secure message center (available from within the trading platform or website)
    • AI-powered IBot directs customers to online FAQs and resources

    Security and Reliability

    IBKR meets or exceeds industry security standards. This includes:

    • Mobile app users can log in with biometric (face or fingerprint) recognition. 
    • Multiple forms of two-factor authentication.
    • Client securities accounts at Interactive Brokers LLC are protected by the Securities Investor Protection Corporation (SIPC) for up to $500,000, with a cash sublimit of $250,000. Excess SIPC coverage provides up to an additional $30 million (with a cash sublimit of $900,000), subject to an aggregate limit of $150 million.
    • Interactive Brokers' Bank Deposit sweep program enables clients to supplement their existing $250,000 SIPC coverage with $2,500,000 of FDIC insurance on eligible cash balances.
    • Interactive Brokers reported it had no serious platform outages in 2020. In March, IBKR experienced issues with its European systems, which caused login problems and outages for under 90 minutes on Trader Workstation; IBKR Mobile was down briefly that day. The company notes that during that time, however, clients had access to other trading platforms. In November, when several brokers experienced outages, some clients experienced a slowdown on some IBKR platforms. The company advised clients to use Trader Workstation during the brief period the slowdown occurred.
    • Through 2020, there were no significant data breaches at any IBKR location reported by the Identity Theft Research Center.
    • The IBKR Securities Class Action Recovery service launched in May 2020. It's an automated service designed to remove the administrative burden of participating in a securities class action lawsuit. The service automatically detects if you are eligible to file a claim for securities you bought or sold at IBKR in the past. When applicable, the service submits filings to claims administrators on your behalf and seeks to recover funds for compensation. Any recovered amounts are electronically deposited to your IBKR account—less a 20% contingency fee.

    Transparency

    On August 10, 2020, the Financial Industry Regulatory Authority (FINRA) announced it had fined Interactive Brokers LLC $15 million for widespread failures in the firm's anti-money laundering (AML) program. The same day, the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) also announced disciplinary actions and fines, resulting in a total of $38 million in penalties paid to the three agencies.

    IBKR's pricing structure is complex, but details are readily available under the Pricing menu on the website. Commissions are broken down by asset class (e.g., Stocks, ETFs, and Warrants; Options, Futures, and FOPs) and by plan—whether that's tiered, fixed, or free (IBKR Lite) pricing.

    Our Verdict

    Interactive Brokers offers a lot in terms of products, tools, and technology. Overall, we found IBKR is best for professional traders and sophisticated, active traders who want to take advantage of a powerful suite of tools and global access to a wide range of assets. It's worth noting that you can trade any of those assets from a single, integrated account, a convenience that many brokers can't offer.

    While IBKR is making its technology more appealing to the mass market, the abundance of tools and resources may still intimidate many new investors. Still, if you have outgrown your current broker's offerings—or if you will soon—Interactive Brokers could be a natural next step.

    Methodology

    Investopedia is dedicated to providing investors with unbiased, comprehensive reviews and ratings of online brokers. Our reviews are the result of months of evaluating all aspects of an online broker’s platform, including the user experience, the quality of trade executions, the products available on its platforms, costs and fees, security, the mobile experience and customer service. We established a rating scale based on our criteria, collecting thousands of data points that we weighed into our star-scoring system.

    In addition, every broker we surveyed was required to fill out an extensive survey about all aspects of its platform that we used in our testing. Many of the online brokers we evaluated provided us with in-person demonstrations of its platforms at our offices.

    Our team of industry experts, led by Theresa W. Carey, conducted our reviews and developed this best-in-industry methodology for ranking online investing platforms for users at all levels. Click here to read our full methodology.

    Sours: https://www.investopedia.com/interactive-brokers-review-4587904

    You will also like:

    IBKR Trading Platforms

    Client Portal

    Client Portal

    Our web application serves as your one-stop destination to check quotes and place trades, see account balances, P&L and key performance metrics, funding, reporting, and more.

    Learn More

    IBKR TWS for Mobile

    IBKR Mobile

    Easily trade and monitor your IBKR account on-the-go from your iOS or Android device (tablet or smartphone).

    IBKR APIs

    IBKR APIs

    From our easy-to-use Excel API to our industrial strength FIX API, we offer something for every experience level. Our TWS API is well-supported with numerous examples to help you get started.

    Learn More

    Supported Products

    Our clients from over 200 countries and territories invest globally in stocks, options, futures, currencies, bonds, and funds from a single integrated account.

    Our trading platforms offer a wide range of product centered tools like the OptionTrader and Probability Lab for simplified single and complex multi-leg option trading; FXTrader for currencies trading; Mutual Fund/ETF Replicator to help you easily find lower cost ETF alternatives to popular mutual funds; our fixed income screeners for corporate, municipal and agency bonds and CDs - and more.

    Stocks
    Options (Incl. Futures Options)
    Futures
    Spot Currencies
    Warrants
    Combinations
    Bonds
    Mutual Funds
    Structured Products
    Physical Metals
    Inter-Commodity Spreads

    Trading Features

    We believe that less is more when it comes to our trading costs, but not our trading tools. We continually strive to offer our clients more of what they need to enhance their trading experience.

    Looking for a highly-tailored, customizable investment strategy? Traders who are trading large orders have access to over 30 algos, including our own Accumulate/Distribute algo which has customizable logic to help you fill large-volume orders while adjusting to market conditions based on your criteria.

    See the total picture before you buy or sell using our what-if portfolio scenarios. Our professional-caliber IB Risk NavigatorSM reveals exposure across asset classes and around the globe, helping you to monitor and adjust your positions as needed.

    Display Positions and PnL
    IB SmartRoutingSM
    Simple Orders
    Advanced Orders and Algos
    Conditional Orders
    Paper Trading
    Customizable Workspace
    Mutual Fund/ETF Replicator
    Stock Loan Borrow(SLB)
    Advanced Portfolio Management Tools
    IB Risk NavigatorSM
    Backtesting

    Advanced Analysis

    Our trading platforms offer features to meet the needs of both the occasional investor and the serious, active trader.

    Whether you need to simply monitor your account, or want to perform in-depth analysis to create a highly tailored trading strategy using our proprietary algos and API, our platforms provide the features you need to help you meet your trading and investing goals, however basic or complex they may be.

    IBKR clients enjoy both the power and simplicity of our feature-rich platforms.

    Live/Delayed Market Data
    Historical Market Data
    Level II Market Data
    Charting
    Advanced Technical Analysis
    Scanners
    Advanced Fixed Income Scanner
    Streaming News Services
    IBKR Market Signals
    Third-Party Research
    Streaming Bloomberg TV
    Dividend Schedules
    Alerts
    Options Analysis

    This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

    Any trading symbols displayed are for illustrative purposes only and are not intended to portray recommendations.

    Some products may not be available in certain jurisdictions. Please see ibkr.com/products for more information.

    Access to IB SmartRoutingSM for US listed securities is generally available only to IBKR Pro accounts.

    Which Plan is Best for You?

    Commissions:

    US Exchange-Listed Stocks / ETFs

    Commission-free1, 12Fixed or Tiered Pricing

    Other Stocks / ETFs

    Fixed PricingFixed or Tiered Pricing

    Options

    Fixed Pricing2Fixed or Tiered Pricing

    Futures

    Fixed PricingFixed or Tiered Pricing

    Forex

    Tiered PricingTiered Pricing

    Bonds

    Tiered PricingTiered Pricing

    Mutual Funds

    Fixed PricingFixed or Tiered Pricing
    Account Fees:

    Minimum Balance

    USD 0USD 0

    Maintenance Fee

    USD 0USD 0

    Interest Paid on Idle Cash Balances3

    Benchmark minus 1.5%Benchmark minus 0.5%

    Interest Charged for Margin Loan

    Benchmark plus 2.5%Begins at Benchmark plus 1.5%, with lower rates for higher loan values.4
    Eligible Accounts:

    US Retail Investors5

    Institutional Accounts6

    Advisors7,8

    Brokers9,10

    Account Features:

    Stock Yield Enhancement Program

    FDIC Promontory Program

    Market Data - US Listed Stock/ETFs

    Free non-consolidated, real-time streaming data* for primary exchanges.Low-cost data bundles and
    a la carte subscriptions available.

    Market Data - Other Products

    Low-cost data bundles and
    a la carte subscriptions available.
    Low-cost data bundles and
    a la carte subscriptions available.

    Outside Regular Trading Hours11

    07:00 - 20:0004:00 - 20:00
    Trading Technology:

    Client Portal

    IBKR Mobile

    IBot

    Trader Workstation (TWS)

    **

    IBKR Web Trader

    IBKR APIs

    Algos

    Condition Orders &
    Advanced Order Types

    Paper Trading

    Mutual Fund / ETF Replicator

    Risk NavigatorSM

    Back Testing


    = Included

    1. IBKR Lite is meant for retail investors, including financial advisors trading on behalf of their retail clients. IBKR reserves the right to reject any IBKR Lite order or series of orders if IBKR determines the order(s) appear to show non-retail trading behavior. At the time an order is rejected, the client will be automatically presented the option to resubmit the rejected order on a Fixed commission basis.
    2. Where available in North America.
    3. Accounts with a NAV of less than USD 100,000 (or equivalent) will be paid at a rate proportional to accounts with a NAV of USD 100,000 (or equivalent) or more. The proportion is determined by the ratio of the account's NAV to USD 100,000 (or equivalent). This does not apply to currencies with negative interest rates, where the negative rate applied will be the same regardless of account size. See ibkr.com/interest for details.
    4. For more information, see ibkr.com/interest
    5. US Retail Investors includes individuals, joint, UGMA/UTMA, retirement and trust accounts.
      1. Standalone trust accounts with legal entity trustees are not eligible for IBKR Lite
    6. Institutional Accounts are defined as any hedge funds, proprietary trading group or organizational type accounts
    7. Advisors include all registered financial advisors, non-registered financial advisors, and Friends and Family advisors.
    8. To be eligible for IBKR Lite, advisors must be US domiciled and must have:
      1. Less than 15% of client accounts outside the US
      2. Less than 15% of client equity outside the US
      3. Less than 15% of client accounts as organization accounts
      4. No client accounts from Israel
      5. No partitioned client accounts
      6. No Separate Trading Limits (Proprietary Trading) accounts
    9. Brokers require special approval from IBKR before opening an IBKR Lite account. Brokers cannot have both IBKR Lite and IBKR Pro clients under the same account structure. Separate accounts structures are required to facilitate.
    10. Brokers on the IBKR Lite plan cannot support the follow ing type of client sub accounts:
      1. Israel is the country of legal residence of the account holder
      2. Partitioned client accounts
      3. Three-tier hierarchies (no advisor or STL proprietary trading accounts)
      4. OMS clients
    11. Regular trading hours for IBKR Lite and IBKR Pro are 09:30 – 16:00. Market orders placed prior to regular trading hours will be treated as MarketOnOpen orders and count towards client threshold.
    12. OnClose or OnOpen US listed stock orders are free for IBKR Lite clients so long as the order does not exceed 10% of an account's monthly US stock trading volume, otherwise your account will be charged USD 0.005 per share.
    • * Excludes pink sheet data.
    • **Trader Workstation (TWS) is not available to Brokers' clients enrolled in IBKR Lite.
    • † Fees may apply.

    We understand your investment needs change over time. You can switch between the IBKR Lite and IBKR Pro plan at any time. Your first three reclassifications are processed on a daily basis while subsequent reclassifications happen on a quarterly basis.

    Sours: https://www.interactivebrokers.com/en/index.php?f=13868


    1001 1002 1003 1004 1005