Migrating to IBKR (Interactive Brokers)

R

Rapunzel

Greetings folks, Hope you're well.

I am new to Interactive Brokers and want to Migrate my trading and current system over to the IBKR platform.

I currently trade only FX and Indices and am looking to explore the possibility of applying the same system to other asset classes. So for equities I would be interested in Equity CFDs and or other instruments with FX type attributes.

Firstly, is there anywhere I can get a tick level data for across multiple asset classes in IBKR for system development and testing.

Thank you
 
IB is snapshot data feed not tick by tick. This means it worked when markets were busy in the past though this does not seem to be a consideration with modern servers.
 
No, not really. If you don't grasp what has been said then you have no business to deal with tick data anyway. Honest assessment. Stay away and trade longer time frames.

Rapunzel said:
Thank you, can you elaborate on this.
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Interactive Brokers (IB) is a brokerage that provides various types of data feeds, including snapshot and tick-by-tick. The distinction you're making between the two is important:

1. **Snapshot Data Feed**: Instead of sending every single price update (tick), the server sends data at regular intervals (e.g., every 100 milliseconds, every second, etc.). This results in less data being sent, which might miss some minor price changes but is generally sufficient for many traders, especially swing or position traders.

2. **Tick-by-Tick Data Feed**: This type of feed sends every single price change, allowing for a very detailed view of price action. It's particularly useful for high-frequency traders, scalpers, or any trading strategy that relies on very short-term price changes.

Historically, when server resources and network bandwidth were more limited, snapshot feeds were more common since they reduced the load on servers and decreased the amount of data that needed to be transmitted. Nowadays, with the advancement in server technology and network infrastructure, many data providers and brokers can afford to offer tick-by-tick data without much issue.

However, some brokers or data providers might still offer snapshot data by default or as an option because:

- **Cost**: Tick-by-tick data can be more expensive to provide due to the increased data volume.
- **Server Load**: Even with modern servers, a massive influx of traders or a significant market event can strain resources. Snapshot data alleviates this to some extent.

- **Sufficiency**: For many retail traders, especially those not engaged in high-frequency trading, snapshot data is often sufficient.

If you're a trader who requires the most detailed data possible, it's crucial to ensure that your broker provides tick-by-tick data. Conversely, if you're trading on longer time frames, snapshot data might be sufficient for your needs. Always choose the data feed type that best aligns with your trading strategy and technical requirements.
 
MarkBrown said:
Interactive Brokers (IB) is a brokerage that provides various types of data feeds, including snapshot and tick-by-tick. The distinction you're making between the two is important:

1. **Snapshot Data Feed**: Instead of sending every single price update (tick), the server sends data at regular intervals (e.g., every 100 milliseconds, every second, etc.). This results in less data being sent, which might miss some minor price changes but is generally sufficient for many traders, especially swing or position traders.

2. **Tick-by-Tick Data Feed**: This type of feed sends every single price change, allowing for a very detailed view of price action. It's particularly useful for high-frequency traders, scalpers, or any trading strategy that relies on very short-term price changes.

Historically, when server resources and network bandwidth were more limited, snapshot feeds were more common since they reduced the load on servers and decreased the amount of data that needed to be transmitted. Nowadays, with the advancement in server technology and network infrastructure, many data providers and brokers can afford to offer tick-by-tick data without much issue.

However, some brokers or data providers might still offer snapshot data by default or as an option because:

- **Cost**: Tick-by-tick data can be more expensive to provide due to the increased data volume.
- **Server Load**: Even with modern servers, a massive influx of traders or a significant market event can strain resources. Snapshot data alleviates this to some extent.

- **Sufficiency**: For many retail traders, especially those not engaged in high-frequency trading, snapshot data is often sufficient.

If you're a trader who requires the most detailed data possible, it's crucial to ensure that your broker provides tick-by-tick data. Conversely, if you're trading on longer time frames, snapshot data might be sufficient for your needs. Always choose the data feed type that best aligns with your trading strategy and technical requirements.
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Thank you MarkBrown, this is very informative. I will definitely be needing Tick-by-Tick data even though I rely on the H1 candle for signals and entry. I guess I will be able to configure my IB account accordingly...

This has already prospectively saved me future blushes
 
Rapunzel said:
Thank you MarkBrown, this is very informative. I will definitely be needing Tick-by-Tick data even though I rely on the H1 candle for signals and entry. I guess I will be able to configure my IB account accordingly...

This has already prospectively saved me future blushes
More...

lB is a snapshot not tick by tick.
 
MarkBrown said:
1. **Snapshot Data Feed**: Instead of sending every single price update (tick), the server sends data at regular intervals (e.g., every 100 milliseconds, every second, etc.). This results in less data being sent, which might miss some minor price changes but is generally sufficient for many traders, especially swing or position traders.

2. **Tick-by-Tick Data Feed**: This type of feed sends every single price change, allowing for a very detailed view of price action. It's particularly useful for high-frequency traders, scalpers, or any trading strategy that relies on very short-term price changes.
More...
Be careful: IB gives a different meaning to these two words: "snapshot" and "tick-by-tick". Mark gives a definition which might be common in the market but does not apply to IB's nomenclature.
 
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