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Can IB Brokers deliver a formatted MT4 data-feed?
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Can IB Brokers deliver a formatted MT4 data-feed?

  #1 (permalink)
Trading Apprentice
Nijmegen, Netherlands
 
Futures Experience: Intermediate
Platform: IB-TradeStation, Metatrader 4
Broker/Data: IB Brokers
Favorite Futures: Forex, Gold
 
Posts: 6 since Dec 2011
Thanks: 4 given, 0 received

Can IB Brokers deliver a formatted MT4 data-feed?

Hey there,

I am new here, so my first question is:

Can IB Brokers deliver a formatted MT4 data-feed? I could not find an answer on this subject here.
I have installed a special little Java API program from IB and managed to run Bracket Trader on the IB datafeed but I asume that BT is specially designed for IB.
It would be great to get MT4 linked to IB-datafeed; two worlds connected, or is this just a dream? The IB helpdesk said that MT4 can be linked to IB but that MT4 requires an extra tool for this

thank you
Steven 227

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  #2 (permalink)
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  #3 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
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steven227 View Post
Hey there,

I am new here, so my first question is:

Can IB Brokers deliver a formatted MT4 data-feed? I could not find an answer on this subject here.
I have installed a special little Java API program from IB and managed to run Bracket Trader on the IB datafeed but I asume that BT is specially designed for IB.
It would be great to get MT4 linked to IB-datafeed; two worlds connected, or is this just a dream? The IB helpdesk said that MT4 can be linked to IB but that MT4 requires an extra tool for this

thank you
Steven 227

Execution

I have tested ZerolineTrader, BracketTrader, ButtonTrader, MultiCharts Discretionary Trader and NinjaTrader as an execution front end for Interactive Brokers. This is my opinion, I am just talking about the execution side (MultiCharts and NinjaTrader also have charting, backtesting, etc.

BracketTrader: more of a toy, monthly fee about $ 10
ButtonTrader: excellent, too many features, very reliable, monthly fee about $ 70
MultiCharts Discretionary: good, some smaller bugs, excellent support, free software !
NinjaTrader: excellent, execution part better than MultiCharts, monthly fee about $ 60
ZeroLineTrader: unreliable (tested a few years ago)


Charting

You can simply download and connect NinjaTrader to Interactive Brokers. As long as you only use it for charting it is free, so you can check whether you like it. Huge number of indicators available.


Connecting MetaTrader Client to TWS?

Why would you want to connect a MT4 client to Interactive Brokers? It does not have all time frames, no real tick and range charts.

MetaTrader is a software sold to smaller FOREX brokers, who do not have developed a proprietary platform. Interactive Brokers uses a different platform. What you know as MetaTrader is just the client of the FOREX broker's MetaTrader, as TWS is the client of the platform used by Interactive Brokers.

Trying to connect the client of the platform A (MetaTrader front end) to the client of the platform B (TWS, IB front end) which is connected to platform B (Interactive Brokers) does not make any sense. I think you should forego that idea.

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  #4 (permalink)
Trading Apprentice
Nijmegen, Netherlands
 
Futures Experience: Intermediate
Platform: IB-TradeStation, Metatrader 4
Broker/Data: IB Brokers
Favorite Futures: Forex, Gold
 
Posts: 6 since Dec 2011
Thanks: 4 given, 0 received

Thank you Fat Tails,

Thank you for your extensive answer. Good to now which programs are working as a front end for IB. But I like Mt4 because there is a wealth of EA's,custom indicators, etc for this platform and I just like to experiment in this automatic trading field. And it is indeed a very simple program but, in my case, with everything I need. . Frankly speaking, I do not like TWS all that much and all the separate charts and windows taking up space on the task bar. Mt4 is also a lite weight program for the processor. which can work with more copies on the same computer.So you can trade a couple of forex pairs and gold, etc at the same time on the same brokers datafeed. with the same or different EA' s.

Many today's charting programs ar to complicated for me. By the time I have analyzed all the indicators on different time frames I have lost track, and the record of EA's that use them is not very good also. In MT4 I use 2 relatively simple EA's, GG-Trendbar and CycleIdentifier which work with the RSI and Candlesticks (if I'm right by analyzing the code) and are functioning pretty well in the daytrading field (but I'm more involved in the longer term.

I will not use Bracket trader as I have no problems in ordering at IB. It is just the first front end I saw working.

Thank you Fat Tails for mentioning 5 Programs. I will definitely try MultiCharts but still hope that someone can help me with MT4 as a frontend for IB.

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  #5 (permalink)
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Futures Experience: Advanced
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As far as I know, there is no software that allows to display MetaTrader charts by using a TWS data feed.

If you want to stay with Interactive Brokers, you would simply need to convert your two indicators to a charting program (NinjaTrader or MultiCharts) that can be connected to TWS.

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  #6 (permalink)
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Belgium
 
Futures Experience: Advanced
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Take the problen the other way around ? There are feeds, execution and costs better or just as good than IB for spot FX supporting MT4. Look into emerging dark pools.


Last edited by SARdynamite; January 15th, 2012 at 10:59 AM. Reason: Nothing. Sorry
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  #7 (permalink)
Trading Apprentice
Nijmegen, Netherlands
 
Futures Experience: Intermediate
Platform: IB-TradeStation, Metatrader 4
Broker/Data: IB Brokers
Favorite Futures: Forex, Gold
 
Posts: 6 since Dec 2011
Thanks: 4 given, 0 received

Emerging dark pools..

Thank you for your answer Sar Dynamite,

Emerging dark pools...... yes, we might end up with financial markets where trading robots are dominating and make them a game of chess. They are less intuitive nor intelligent, just following rules but they do not make stupid mistakes and do not get tired. They wait silently in the dark until chances are turning at their advantage and jump aboard until they have had their meal. It's a horror story but financial markets were never meant to become exclusively the playground of big financial institutions and their employees only.
They gave birth to them, suppressed and misled civilians and are still taking the biggest part of the cake. Only few private traders are competing with them because they have always had all the odds in their favor. But now that ordinary people can trade like them 'emerging dark pools' are detected and the American government is restricting their trading (on behalf of the financial industry who want their privilege protected). They have special teams who are trading every financial market every hour of the day, with every piece of software available.
Ordinary civilians have always been bullied by governments, and nowadays industries are dominating and tell governments what to do. So the big dark pools are legitimate and have always been there but the smaller ones must be wiped out.
As money is the major force in our western world I suppose that financial markets will collapse and take civilizations with them in their fall.
Lets play a little as far as it goes.

Apart from IB I will take a MT4 broker as I understand this is the best option to take.

Thank you
Steven 227

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  #8 (permalink)
Trading Apprentice
Nijmegen, Netherlands
 
Futures Experience: Intermediate
Platform: IB-TradeStation, Metatrader 4
Broker/Data: IB Brokers
Favorite Futures: Forex, Gold
 
Posts: 6 since Dec 2011
Thanks: 4 given, 0 received

IB datafeed

Hello Fat Tails,

thank you for your answer. The best thing to do is stick to IB for my major manual trading and take a second MT4 broker for experimenting with EA's. By the way, they have recently widen t there scope on EA's and introduced a couple of external ones for a payed service. I will also take a look at them.

Thank you
Steven227

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  #9 (permalink)
Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
Favorite Futures: Keyboard
 
Fat Tails's Avatar
 
Posts: 9,638 since Mar 2010
Thanks: 4,225 given, 25,555 received
Forum Reputation: Legendary


steven227 View Post
Hello Fat Tails,

thank you for your answer. The best thing to do is stick to IB for my major manual trading and take a second MT4 broker for experimenting with EA's. By the way, they have recently widen t there scope on EA's and introduced a couple of external ones for a payed service. I will also take a look at them.

Thank you
Steven227

Sounds reasonable. When selecting a FOREX broker, try to avoid a broker with an own dealing desk.

There are some explanations you can find via the link below:

ECN brokers list | ECN/STP Forex brokers

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  #10 (permalink)
Trading Apprentice
Las Vegas
 
Futures Experience: Intermediate
Platform: MT4
Favorite Futures: fx
 
Posts: 1 since Apr 2012
Thanks: 0 given, 0 received

trader


Hey Steven .
I am new here and see you are trying to solve the same problem as me .
I made my own EA to work on MT4 , but realize that forex market disappoint me . It's not real and is mostly like gambling .
Anyway , I am trying to find the best way to trade Stocks and Futures with EA . From my researches for brokers , IB is a good choice , but still not shure what platform I should decide from MT4 ;NT or eSignal platform and connect using an API to IB , but still all the things are not enough clear for me . If is not possible to hook MT4 ,I have to re coded my EA to NT or eSignal platforms. Did you find anything helpful on this topic ?
BTW , there are few brokers that provide trading Futures and Stocks like CFD index .And most reasonable for me look FXPRO from UK. I don't know what CFD exactly , but they seems much - more
logically in comparison with forex graphs .But I still think , should be a better way to trade Stock directly on IB .
What is your opinion please ?
Best Regards

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