NexusFi: Find Your Edge


Home Menu

 





IQfeed vs IB data as data provider for Multicharts


Discussion in Brokers

Updated
      Top Posters
    1. looks_one SPTrading with 4 posts (6 thanks)
    2. looks_two Big Mike with 3 posts (0 thanks)
    3. looks_3 Fat Tails with 3 posts (11 thanks)
    4. looks_4 JackR with 3 posts (1 thanks)
      Best Posters
    1. looks_one Fat Tails with 3.7 thanks per post
    2. looks_two SPTrading with 1.5 thanks per post
    3. looks_3 sptrader with 1 thanks per post
    4. looks_4 vegasfoster with 0.3 thanks per post
    1. trending_up 21,337 views
    2. thumb_up 21 thanks given
    3. group 7 followers
    1. forum 21 posts
    2. attach_file 3 attachments




 
 

IQfeed vs IB data as data provider for Multicharts

 
 arjfca 
Montreal, Canada
 
Experience: Intermediate
Platform: Multicharts
Broker: Interactive Broker
Trading: Forex
Posts: 263 since Sep 2010
Thanks Given: 440
Thanks Received: 91

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

Started this thread

Can you help answer these questions
from other members on NexusFi?
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
Better Renko Gaps
The Elite Circle
NexusFi Journal Challenge - April 2024
Feedback and Announcements
Deepmoney LLM
Elite Quantitative GenAI/LLM
 
 
 vegasfoster 
las vegas
 
Experience: Intermediate
Platform: Sierra Chart
Broker: Velocity/IB
Trading: 6E
Posts: 1,145 since Feb 2010
Thanks Given: 304
Thanks Received: 844


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.

Thanked by:
 
 Tarkus11 
East Coast
 
Experience: Beginner
Platform: Ninja
Trading: ES, NQ
Posts: 124 since Apr 2010
Thanks Given: 55
Thanks Received: 80


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 [AUTOLINK]Interactive Brokers[/AUTOLINK] 5 second update data - [AUTOLINK]NinjaTrader[/AUTOLINK] 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.

 
 vegasfoster 
las vegas
 
Experience: Intermediate
Platform: Sierra Chart
Broker: Velocity/IB
Trading: 6E
Posts: 1,145 since Feb 2010
Thanks Given: 304
Thanks Received: 844


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 [AUTOLINK]Interactive Brokers[/AUTOLINK] 5 second update data - [AUTOLINK]NinjaTrader[/AUTOLINK] 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.

 
 arjfca 
Montreal, Canada
 
Experience: Intermediate
Platform: Multicharts
Broker: Interactive Broker
Trading: Forex
Posts: 263 since Sep 2010
Thanks Given: 440
Thanks Received: 91

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

Started this thread
 
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,397 since Jun 2009
Thanks Given: 33,173
Thanks Received: 101,537


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

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal
 
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,397 since Jun 2009
Thanks Given: 33,173
Thanks Received: 101,537


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

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal
 
 SPTrading 
London, England
 
Experience: Intermediate
Platform: MC, TS, NT
Broker: TradeStation
Trading: ES
Posts: 41 since Oct 2009
Thanks Given: 12
Thanks Received: 21


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

 
 
Big Mike's Avatar
 Big Mike 
Manta, Ecuador
Site Administrator
Developer
Swing Trader
 
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,397 since Jun 2009
Thanks Given: 33,173
Thanks Received: 101,537



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

We're here to help: just ask the community or contact our Help Desk

Quick Links: Change your Username or Register as a Vendor
Searching for trading reviews? Review this list
Lifetime Elite Membership: Sign-up for only $149 USD
Exclusive money saving offers from our Site Sponsors: Browse Offers
Report problems with the site: Using the NexusFi changelog thread
Follow me on Twitter Visit my NexusFi Trade Journal

 



Last Updated on January 16, 2012


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts