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Online Brokerage With API?

Posted by timothy on from the tough-order-to-fill dept.

palpatine asks: "I'm looking around for an Internet brokerage that offers a programming interface. Instead of using the Web and forms to make and track orders, I'd like to be able to have some sort of library with functions for making and tracking orders as well as getting real-time quotes, securely over the Internet. Does anyone know of such a place?" Is there such a beast?

5 of 30 comments (clear)

  1. Island, Redibook by PoiBoy · · Score: 2, Informative
    I know that Redibook and Island have Windows API's available for directly connecting to their networks.

    The big question, though, is how much trading volume you do. To support that type of direct access to an ECN, you need an account with a clearing firm; and they probably have steep account minimums and capital requirements. I doubt if there is anything out there that will let you just open an account for $50,000 and place orders with your own programs. In short, sure it's possible, but it would probably be uneconomical unless you are running a full-time trading operation.

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    1. Re:Island, Redibook by Judg3 · · Score: 3, Informative

      Where I used to work, Townsend Analytics we have a product called RealTick, which (if you pay for it) does come with its own API you can use to alter the software and bend it to your needs. Its made for serious daytraders though, so unless you have the desire to trade and the money for the account don't bother. We tend to be "cutting edge" with online trading, I.E. our software is usually a little buggy, but it will always have the newest features. In fact it's considered the Coca-Cola of the trading industry, being one of the most widly recognized names. Give it a look see. And if you do call up and order, tell em Chucakles said go to hell. They know who I am ;)

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  2. Google me this... by bihoy · · Score: 3, Informative

    Lime Brokerage provides a system that provides what you are looking for. They even use all of the keywords you mention (Internet, security, api, programmable).

    There Brokerage Service, however, seems to be geared more towards Order Placement through an ECN. Here are some screen shots of the GUI that is provided with the API.

  3. nasdaq.com XML interface by superid · · Score: 3, Informative

    You can url encode stock symbols and get back XML from nasdaq via something like

    http://quotes.nasdaq.com/quote.dll?mode=stock&pa ge =xml&symbol=ibm&symbol=gm

  4. A few options by hawkfan · · Score: 4, Informative

    On non-windows platforms you're pretty much limited to MyTrack Java SDK and Interactive Brokers (Doesn't play nice with mozilla) for retail services.

    MyTrack offers pretty good data although it can lag a good bit behind the marked (5-20 sec) and seems to be mostly unsupported.

    IB's data is, well, you wouldn't want to trade off it alone. However the executions are great and their fee schedule is very competitive. Their Java TWS, which runs very well on Linux/UNIX, is somewhat programmable via either a socket interface or Java API.

    I haven't worked with the MyTrack SDK for years so I can't comment on MyTrack's performance recently, but their executions were not comparable with other EDAT brokers and barely up to web broker standards when I used them. IB offers pretty good market coverage especially in commodities and options. Currently their API limits executions to their proprietary routing system, the client offers direct access routing to various exchanges. They also offer a much richer API to pro customers although their fees aren't as competitive in that area.

    It's also worth mentioning that IB's platform is a bare-bones, no handholding, execution platform. If you want support and fancy tools go elsewhere but their executions and margin policies are pretty good (exchange min. on most contracts). When there is a problem however, you'll be happy to have a backup broker to hedge the positions you hold with IB. They require this in their customer agreement

    See ibusers Yahoo group and EliteTrader Direct Access forum for more information. I only mention options that are available on Linux/UNIX for retail brokers because thats all I've investigated for my own use. I may post a better summary when I recover from last night..