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Interactive Brokers, data feed and fees for Canadian residents
After demo trading for a long time using Ninjatrader, I wanted to open a live emini futures account with a US brokerage but they don't service Canada. I heard IB (Interactive Brokers) services Canada. I believe I can use IB as my broker, Ninjatrader as my charting and execution platform (the free version), but how about the unfiltered tick data feed? I heard the IB has real-time data that is filtered and pretty much useless for tick data charting.
Does this mean I have to get a 3rd party data feed? If so, I'm assuming it will be possible to configure and connect all of these 3 together (IB account, NT platform, Data Feeder)?
As for fees, will it be as follows?
1) IB (Broker) will charge round trip fees per contract + exchange commissions etc.
2) NT (free version), I'm assuming I can use the free version for charting and executing thru NT which will be connected with my broker account
3) Data feed I'm expecting around $50 a month for emini future contract unfiltered data that will be connected with NT for my tick charting
Thanks for your insight and help.
Mauri (Liquid Trader)
Can you help answer these questions from other members on NexusFi?
Yup, you will need all three if you want tick-by-tick data; and yes, it works.
ad 1) plus any fee-based IB data that you use
ad 2) for execution via NT-IB you need a live license for at least one broker (IB in your case)
ad 3) with realtime data for a CME non-pro waived package you will start at about 70 USD.
