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IB Data Fees vs other brokers
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IB Data Fees vs other brokers

  #1 (permalink)
Trading for Fun
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IB Data Fees vs other brokers

I was considering opening an account with IB, but wanted to ask some members here, about the data fees....

I know certain brokers support free data fees. I think this is like the CME fee waver program. So If I log in once a month I can get the free feed.

At other brokers I have as long as I log into the account 1 per month, then the fee's are free. I am looking to see if IB supports this also?

I know i can setup my account via Kinetick, but the fee per month is still 50.00 the CME fee's are waived.

So just trying to find out if there is a way to get around this charge, or if I can just use IB for the data feed.

any info is appreciated;

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  #2 (permalink)
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  #3 (permalink)
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They're aren't expensive at IB, like one or two bucks a month for the major ones. More exotic ones may cost more, not really sure. I found the feed adequate, but most people think it's crap since it's highly filtered. You can do a search for more info since there are tons of threads on that topic.

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  #4 (permalink)
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vegasfoster View Post
They're aren't expensive at IB, like one or two bucks a month for the major ones. More exotic ones may cost more, not really sure. I found the feed adequate, but most people think it's crap since it's highly filtered. You can do a search for more info since there are tons of threads on that topic.

Yeah, I think it's interesting when 15 min, 60 minute chart traders say that IB data feed is crap. At these higher time frames I think tick filtering and millisecond data bursts is immaterial. If you have a crappy trading method, no amount of true tick data is going to help you. If you've got a sound method, that amount of filtering is not gonna destroy it. If you are an HTF shop, then you should know better.


Last edited by monpere; March 30th, 2012 at 01:12 PM.
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  #5 (permalink)
Fiddler
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It is certainly adequate for higher time frame analysis. I have bot that swing trades running perfectly fine on IB data on a 10 min chart. If you include volume data in your analysis you may consider the impact of having full volume information from a true data provider, vs. whatever IB gives in in the way of volume.

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  #6 (permalink)
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One of the reasons that higher time frame traders can have a problem with IB data is that sometimes key highs and lows are not correct because these ticks are filtered out. There is a workaround to deal with this problem by using the true data (-TD) five second data. I used IB data for quite awhile but eventually decided it was worth it to pay for a separate feed to have confidence in the highs and lows.

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  #7 (permalink)
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Jolew View Post
One of the reasons that higher time frame traders can have a problem with IB data is that sometimes key highs and lows are not correct because these ticks are filtered out. There is a workaround to deal with this problem by using the true data (-TD) five second data. I used IB data for quite awhile but eventually decided it was worth it to pay for a separate feed to have confidence in the highs and lows.

I understand that IB also transmits the correct High/Low/Volume every 5 seconds, along with the milliseconds snapshots, which allows TWS to correct any missed bar data at least every 5 seconds. The issue is, not all software vendors currently processes these messages. I believe NinjaTrader does not process these messages at this time, but other charting applications do.


Last edited by monpere; March 30th, 2012 at 05:05 PM.
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  #8 (permalink)
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If you trade using minute or daily bars -- no volume, no tick, no range, no renko, etc -- and you don't care about historical data, IB is "fine".

Otherwise, you need a better data provider.

Mike

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  #9 (permalink)
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Big Mike View Post
If you trade using minute or daily bars -- no volume, no tick, no range, no renko, etc -- and you don't care about historical data, IB is "fine".

Otherwise, you need a better data provider.

Mike

I am not defending IB data because I don't use it, but that is not a fair statement. I think It depends on how you trade. If I trade 50 range bars, and have 100 tick stops I doubt very much IB data will make a difference on if I am a successful trader or a losing trader.

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  #10 (permalink)
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monpere View Post
I am not defending IB data because I don't use it, but that is not a fair statement. I think It depends on how you trade. If I trade 50 range bars, and have 100 tick stops I doubt very much IB data will make a difference on if I am a successful trader or a losing trader.

Well, at the very least, your data will be wrong.

Mike

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