IB vs TradeStation

A

APlusProgrammer

Could anyone give me some suggestion which platform is better for algorithm trading? and give me some reasons. BTW I use C++ for a long time.

Very new to the game, but would like to setup an auto trade system. After some initial research, seems IB and TS are 2 good options.

Here are some pros and cons for comparation -

IB TS

API - IB is better as it has a C++ API.
Programming - TS/EL is easy to use
Monthly fee - TS has $99/month while IB is much lower.
Trans fee - IB is lower
Charting - TS is much better
Service - IB's customer service is very bad
Short - TS's availability low
Slippage - IB API is much quicker than TS.
Resource - TS has more training online

I heard some bad comments about TS -
(1). Short may not available due to less inventory.
(2). TS feed latency is high while IB C++ is with socket level.

Anyone could provide a little more comments?

Thanks a lot !
 
Well, in your question you're answering yourself, but this are my thoughts about it:

I think IB its better brokerage, so if you are a developer who can build some software, this may be your choice.

Tradestation its better for automated trading for those guys who doesn't have a clue about developing software but are able to learn the easylenguage and write some lines to plot the strategies.
 
IB any day.

Look at Sierra Chart as an adjunct to IB's TWS that will let you build C++ based dlls to add features. Not much harder than writing easy(lol)language and probably easier if you have C experience (I didn't but still found it ok).
 
there has been similar threads recently, and few mention Multicharts. it's my understanding that it has auto-trade capability w/ IB fresh out of the box. compatable w/ ez language as well...

why wouldn't it be a viable option?
 
Quote from APlusProgrammer:

Could anyone give me some suggestion which platform is better for algorithm trading? Thanks a lot !
More...

What you expect? You aren't going to get any answer from TS users here , because here 90% are IB users at ET, someone with tradestation account post at TS support forum, and don't bother coming here.

Major problem with TS is data feed issues and high transaction cost only, aside from that nothing compares. Lets not forget TS has hell of trading keywords and functions build in for you and not everyone needs to get in and out that fast scalping, trimmin......like tons of traders who trade at Etrade, TDameritrade, schwab....etc
 
Quote from Nana Trader:

What you expect? You aren't going to get any answer from TS users here , because here 90% are IB users at ET...
More...

Why is ET so IB oriented??? I have to switch brokers 'cuz CyberTrader is being abandoned, and Schwab's SS Pro sounds like it sucks for real traders. I need an API 'cuz I'm an automated (VB) systems trader (equities). Should I consider anyone else besides IB? Why is ET so IB oriented? Are there other forums that are evenly balanced (PM me) or is IB just that good???
 
i'll find out soon enough, as i'm opening another account at TS soon.

when i talked with the rep there, they were touting TS vs AMTD (i told them my brokers), but didn't mention IB.

i told the rep that i couldn't find out stuff about TS on their forums, because they're closed (even to read, you have to be a TS customer...or to find out their short list...or anything like that). i'm not a fan of closing everything off from prospective customers.


fortunately, there have been some kind souls who have sent me TS" short list in the past.
 
Quote from jimcrist:

Why is ET so IB oriented???
More...

First, Tradestation don't provide any support for ET forums, as result of this your questions will probably go unanswered

Secondly, most ET traders (may be 75%) own account size of 5k to 10K only, and they don't afford TS platform.

Also IB commisions are much lower , and has much better data feed than Tradestation if you are very active traders

But building automated system in IB isn't easy (yes, if you are pro programmer, IB is the way to go) and not in capability of majority ET traders. ET Traders trade manually with IB.
 
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