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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?

1 of 30 comments (clear)

  1. 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..