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IQfeed vs IB data as data provider for Multicharts


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IQfeed vs IB data as data provider for Multicharts

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  #1 (permalink)
Montreal, Canada
 
Experience: Intermediate
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Forex data: IQfeed vs IB data as data provider for Multicharts

Hello

I just read that IQfeed as put IB customers in their fee weaver program. I actually get my forex data from IB.

Any reason why should I move to IQfeed for my data. How is it more reliable or precise.

I read that it could cost me the base fee of 80$ per month while from IB, it cost me nothing. Why is it better to switch to this data provider?

Any info truly appreciated

Martin

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  #3 (permalink)
las vegas
 
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I personally never had any problems with the quality of the IB data feed, but some people take exception with it because it is filtered. Regardless, for forex data, because the bid/ask price will vary from source to source, I would stick with the broker feed for trading purposes. I would only use another source for backfill/testing purposes, if necessary, taking into consideration the spread of the source vs broker. Maybe someone who uses IQ Feed with IB can better speak to it.

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  #4 (permalink)
East Coast
 
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vegasfoster View Post
I personally never had any problems with the quality of the IB data feed, but some people take exception with it because it is filtered. Regardless, for forex data, because the bid/ask price will vary from source to source, I would stick with the broker feed for trading purposes. I would only use another source for backfill/testing purposes, if necessary, taking into consideration the spread of the source vs broker. Maybe someone who uses IQ Feed with IB can better speak to it.

I think it depends on the charting package you use.

I've seen some issues with IB on NinjaTrader - even using what is supposedly ok - their minute bars.

This thread on NinjaTrader sums it up.

Using Interactive Brokers 5 second update data - NinjaTrader Support Forum

Sierra Charts supposedly has a fix for this. There is no assigned ticket number yet for NinjaTrader to deal with it. I don't know if MultiCharts or IRT make adjustments to their minute bars.

Maybe if some intrepid soul could describe how to get at the IB API call in NT, it could be resolved sooner for the NT platform.

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  #5 (permalink)
las vegas
 
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Tarkus11 View Post
I think it depends on the charting package you use.

I've seen some issues with IB on NinjaTrader - even using what is supposedly ok - their minute bars.

This thread on NinjaTrader sums it up.

Using Interactive Brokers 5 second update data - NinjaTrader Support Forum

Sierra Charts supposedly has a fix for this. There is no assigned ticket number yet for NinjaTrader to deal with it. I don't know if MultiCharts or IRT make adjustments to their minute bars.

Maybe if some intrepid soul could describe how to get at the IB API call in NT, it could be resolved sooner for the NT platform.

The OP uses Multicharts, the fact that he should be using Sierra Chart is an entirely different discussion.

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  #6 (permalink)
Montreal, Canada
 
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Thanks Vegasfoster, Tarkus11 for your input
Button for thanks does not show up so I hopted to reply directly

Others would like to add to the discussion ?

Martin

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  #7 (permalink)
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arjfca View Post
Any reason why should I move to IQfeed for my data. How is it more reliable or precise.

If you use volume, tick (range), renko, kagi, line break or other non-minute based charts, then yes absolutely there is a reason to switch away from IB. IB data is more or less absolutely terrible for anything other than minute based data. Even the minute data can be limiting due to restrictions they place on backfill frequency or throttling.

But if you don't use tick data, and only minute data, and you are not running up against any walls with IB backfill, and you don't need breadth data that IQFeed provides, then no need to switch.

Mike

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  #8 (permalink)
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arjfca View Post
Thanks Vegasfoster, Tarkus11 for your input
Button for thanks does not show up so I hopted to reply directly

Because you have to first click the Answer button in the big blue section (that only you can see as the OP of the question).

Mike

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  #9 (permalink)
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Big Mike View Post
If you use volume, tick (range), renko, kagi, line break or other non-minute based charts, then yes absolutely there is a reason to switch away from IB. IB data is more or less absolutely terrible for anything other than minute based data. Even the minute data can be limiting due to restrictions they place on backfill frequency or throttling.

But if you don't use tick data, and only minute data, and you are not running up against any walls with IB backfill, and you don't need breadth data that IQFeed provides, then no need to switch.

Mike

Mike,

Volume and range bars are absolutely fine with IB. I have compared them extensively with Tradestation, for example, and they are practically identical. Only tick bars are not available. I recommend IB to anyone unless you need more than 1 year of backfill and unless you need upticks and downticks accurately, because it is absolutely fast at all times - not being clogged up with millions of ticks. I had to give up with TradeStation because of data lag during fast moving markets.

Paul

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  #10 (permalink)
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SPTrading View Post
Mike,

Volume and range bars are absolutely fine with IB. I have compared them extensively with Tradestation, for example, and they are practically identical. Only tick bars are not available. I recommend IB to anyone unless you need more than 1 year of backfill and unless you need upticks and downticks accurately, because it is absolutely fast at all times - not being clogged up with millions of ticks. I had to give up with TradeStation because of data lag during fast moving markets.

Paul

Unless IB has made huge changes, there is no way. You are the only person to say IB tick data (which is what range bars and volume bars are made of) is accurate. Everyone else agrees it is snapshot data, filtered.

Mike

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