IB and QuoteTracker

I am convincend by TraderWJ's second post. However, I don't think people would shell out $2,000 just to use IB's quotes. Come on, as Privateer stated, IB's quote is no better than the "professional" service - so it makes little sense to have 2 years' worth of data fee sitting idle in an IB account. And I believe IB doesn't pay interest for a mere $2,000?

But, as I said before, I'd like to have a alternative for order entry, like the one QT has for Datek. And since QT is my preferred data backup, that enables me to use one less program when trading.

Francis
 
So you are saying IB has enough bandwidth to give free realtime to everyone using their demo but not enough bandwidth to give QuoteTracker support to clients.

Absurd.
 
This is not a bandwidth issue.

I have confirmed that QT has NOT written any links to the IB system. Whoever is spreading this rumour has got their facts wrong. The only links that are currently allowed to be written is at the CTCI level. IB is not unreasonably holding back. I know conversations took place with Jerry Medved and IB but I don't think there has been much progress.

 
Def,

I thank you for giving us an answer.

I still hope that we will unite our favorite broker with our favorite quote software.

Would be a perfect match in my opinion.

 
The number of simultaneous demo users is limited at IB as far as I remember. Def may confirm that.

IB JTWS is an execution platform. Not analytics or charting.
We all know that. Stop crying about it.

I want IB to take some issues seriously though :

- information displayed should be reliable.
So bid/ask/trades should be exact in their level 1 way.
There is great improvement there for NYSE. And I am satisfied. If a Nasdaq trader tells me it is not accurate for him, I will believe him though. I remember very bad quotes with Nasdaq in the past.

- ease of order entry.
It can still be improved. But I acknowledge progress there and the fact IB listened to suggestion coming right from this group.

By the way IB is not a data provider.
Keep improving and keep the low commissions. That's where the money is lost, not because you need a $100 data provider for charting, analytics or back up.
 
correct, the number of demos is limited. i don't know the number but there is a limit.

re: charting software, etc. I think a few deals are in the works. I've got no involment with this. The best I can do here is pass a few suggestions along (which I have). I'll be talking to someone sometime next week to see if there is anything going on with with QT.

tntneo is correct though. IB is not a quote vendor. I can't speak for our chairman but the concept behind allowing retail access via IB was simply to level the playing field and in terms of access and fees. The bells and whistles will come but it can't be at the expense of what's important - fast fills.
 
Dear Def,

The following Brokers offer their clients free quotes and QuoteTracker support.
They are not quote providers. They are just brokers trying to give their clients a good service.
Only Interactive Brokers is missing.

Ameritrade

Datek

E*Trade

Fidelity

Schwab

DLJ direct

Merrill Lynch Direct

Morgan Stanley Dean Witter

HSBC

Banc of America

RJT

MyDiscountBroker

Waterhouse

Webstreet Securities

Scottrade

RoyalBank

Quick & Reilly

WestPac

Abax

Sanford Securities

ComSec

KeyTrade.com

Deltatrader
 
dtsec,
all i can say is that reps at IB met with QT a while ago. I will not go into specifics but the IB platform and the way information is delivered is unlike any of the other brokers listed. QT has not written to support IB but I wouldn't rule it out in the future.
 
I was looking for any reports on Ravenquote and stumbled on this thread... which happened to be an issue i just email Medved Quotetracker about. Great!

First - I use Datek and Quotetracker at present. Because you can trade thru Datek directly from QT, this means you have one main screen for entering stock symbols to keep an eye on and for trading. Double click and get your intraday charts with indicators etc. Point and click for ordering etc etc. Great.
However I am interested in using Interactive Brokers for their commisions and good executions. IB say they'll provide data feeds, but no charting... aagh. So, first scan for likely stocks (using Big Easy in my case), then take your stock list, put em in IB's stock list for trading purposes, and put them in whatever charting service you have and and and and.......ugly.
The very obvious point, and the reason why other qt users have been banging on about it, is that the combination of IB's commisions, executions and data feed with QT's ease of use and built in charting would make life easier and more importantly faster....

Whining about bandwidth consumption is a pretty good way of describing some of the worries outlined. IB is not alone in offering this type of inducement (free data for opening an account)- see Datek inter alia. IB can choose to up the minimum or only offer it free if a min number of trades/month. Whatever. That is their business decision. If IB was incorporated like Datek into QT, then obviously no more bandwidth would be required at all - EXCEPT for the increased number of people moving their accounts into IB, because of their improved ease of use. More IB accounts, means more business for IB - maybe even cheaper commisions? Well, admittedly, that's unlikely. But the long term survival of IB would be best served by improving their services to their customers. QT anyone?


Anyway, I enjoyed reading this thread - good one! I've already emailed QT about it, and I'll be writing one to IB too.....


good luck to all

Chris


ps now how about IB with Qt and Big Easy and an intra day scanner...
 
Now that we have IB's directx API, excel integration, etc, it should not be a problem for Medved to support their data. The only issue I can see is that IB (to my knowledge) don't have volume in their data feed. So what? Big deal! it wouuld still be nice to have price-only charts, don't you think. Also, now that IB charges "data fees", moronic arguments about eating up precious bandwidth by supporting Quotetracker don't have much of a basis left.
 
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