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Advise for trading options with a IB api?
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Created: by deachne Attachments:0

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Advise for trading options with a IB api?

  #11 (permalink)
Trading Apprentice
poznan / poland
 
Futures Experience: Advanced
Platform: Stellar, IB workstation
Favorite Futures: FGBL options
 
Posts: 41 since Jun 2015
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Bibr,
IB is way cheaper than tradestation, as a matter of fact they are the cheapest non-professional (in my opinion) broker. Trading 1 lot will usually cost you around 2-3,5$. Only minus is that you have to pay for market data, but (most costly ICE~100USD) even with that it will be way cheaper than tradestation.

Also, you get 2USD worse price because they included commision in your execution price. So you payed 2usd commision.

When it comes to margin You are right.

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  #12 (permalink)
Trading Apprentice
Zurich
 
Futures Experience: Intermediate
Platform: Amibroker
Favorite Futures: Fesx
 
Posts: 31 since Feb 2011
Thanks: 62 given, 11 received

Bibr,
Tradestation is not considered 1st choice as a brokerage by many. If you prefer the charting, yes.

Re ThinkOrSwim: Are you certain you can`t open an account with them? Normally they would not let you do trades on margin, only cash backed longs. But this would let you use all of their analytical tools.

Why not go first to free dough.com (founded by former TOS founders). They are introducing brokers to TOS (and this grants you a better rate at TOS). Open the TOS account through them.

ANd enjoy the free analytical tools of dough.

Regards

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  #13 (permalink)
Elite Member
Australia
 
Futures Experience: Intermediate
Platform: Ninjatrader EnsignWindows
Favorite Futures: DAX
 
Posts: 1 since Dec 2010
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Forex37 View Post
Bibr,
Tradestation is not considered 1st choice as a brokerage by many. If you prefer the charting, yes.

Re ThinkOrSwim: Are you certain you can`t open an account with them? Normally they would not let you do trades on margin, only cash backed longs. But this would let you use all of their analytical tools.

Why not go first to free dough.com (founded by former TOS founders). They are introducing brokers to TOS (and this grants you a better rate at TOS). Open the TOS account through them.

ANd enjoy the free analytical tools of dough.

Regards

I live in Australia and have the same problem - TOS, Dough are not available to me. I was told that non US citizens can not open a TD Ameritrade account, with the exception of Canadians and Singaporeans.

My solution to this problem is Option Vue 7. It is a bit messy, but workable.

As an alternative, I am planning to look into Hoadley Options software, a set of modular Excel-based software tools for the analysis of options, which connect to IB TWS.

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  #14 (permalink)
 Vendor: www.probabletrades.com 
OC, California, USA
 
Futures Experience: Advanced
Platform: IB/TWS, NinjaTrader, thinkorswim
Favorite Futures: stocks, options, futures, VIX
 
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Posts: 1,860 since Jun 2009
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deachne View Post
I am from Canada and use IB as my broker because they are cheap.
Trade futures now as a hobby and am fairly successful using price action.
Want to get more into options for time reasons and wondered if anyone new of an options api for IB.
I like IB for its diversity and cost but find it a bit confusing. Thought there may be a company out there that offers options trading using a simpler platform integrated with IB.

I know this thread is old but it looks like nobody really answered the question...

You can trade options through the IB API. You can learn more about the API here.

TWS API v9.72: Trader Workstation API

Basically, set up your TWS or IB Gateway to accept API calls, then you make calls to the IB TWS/Gateway through the EClientSocket class, then your responses are sent to your implementation of the EWrapper interface. Start with something simple, like getting quotes, set up a Contract object for the underlying, strike, and expiration date, then send it to reqMktData() method and the response will come back in the various tick___() methods that you implement in EWRapper. They also send greeks data if you want it.

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