IB Module Keys
Our clients approached us with the task of developing and debugging a trading module for Interactive Brokers through the Meta Trader 5 trading platform. We have decomposed the current task into separate modules:
- connection and transfer of quotes from Interactive Brokers to the Meta Trader 5 terminal
- creation of full-fledged charts with quotes from Interactive Brokers directly in the Meta Trader 5 terminal.
- downloading historical data on trading instruments to be able to use Tester in the Meta Trader 5 terminal.
- sending trading signals and conducting a transaction by a robot from the terminal in Meta Trader 5 in the broker Interactive Brokers.
Connecting and transferring quotes from Interactive Brokers to the Meta Trader 5 terminal
Extensive experience in working with API from Interactive Brokers allowed us to implement the necessary module. The main controversial points of the API of this broker are:
- the need to restart the API module from Interactive Brokers on a daily basis;
- the need to enter verification codes when connecting via API from SMS messages.
Previous experience allowed us to solve these problems, since we had already encountered similar problems before, and thanks to the consultation with the Interactive Brokers’ broker, we were able to understand the reasons for these “needs” and get around them. The transmission module itself allows you to connect up to 1000 instruments at the same time and receive history and real-time data from the broker.
In specific cases, there is a slight restriction on the part of the broker. It allows you to connect up to 100 symbols at the same time for free. Next, you need to buy an additional subscription in the settings of your trading account. You can open the possibility to connect up to 1000 characters at the same time. This is a limitation of the broker itself.
In fact, most traders use 5-100 characters. Therefore, this is unlikely to be useful to most, but the functionality is implemented in such a way that you can simultaneously connect up to 1000 characters.
Creation of full-fledged charts with quotes from Interactive Brokers directly in the Meta Trader 5 terminal.
MT5 has several options for loading data from third-party sources and the most important thing is to know the best method. If the method used is the same as for Meta Trader 4, then the history of the instruments will not be loaded normally, and if more than 5 charts are used, there will be a huge load on the computer.
Our solution allows you to start and fully work with historical data from Interactive Brokers. A separate group of characters is created that can be used without any additional load on the terminal. The terminal can be used for full trading.
Downloading historical data on trading instruments to be able to use Tester in the Meta Trader 5 terminal.
The Meta Trader 5 platform is also known for its simple and flexible programming language for creating robots, as well as a good tester that allows you to test almost any trading strategy and select the necessary settings for the correct operation of the robot. We have developed and implemented a solution for full testing of robots on the history of data received from Interactive Brokers.
This allows you to choose the right settings for this broker, because the FOREX, Stock markets are very different from stock or OTC data. If your robot is very sensitive to such data, then this is the best solution.
It is also worth noting that ETFs and a number of other instruments are often not available from forex brokers. Therefore, the tester in such cases is simply necessary for launching and debugging.
Sending trading signals and conducting a transaction by a robot from the terminal in Meta Trader 5 in the broker Interactive Brokers.
Here we encountered a number of issues that were very similar in essence to the New Hope INSIDE and FIX API. It was necessary to constantly check the activity of the session and work with the responses from the broker Interactive Brokers. The robot only needs to trade and conduct transactions in Meta Trader 5, but the additional module must control the execution of a transaction at the broker and monitor the activity of the trading connection.
A partially redone ready-made module allowed us to solve this issue. As a result, we received a ready-made technical solution for connecting and trading with Interactive Brokers. This development is quite in demand among traders, especially those who understand all the charms of the Meta Trader 5 trading terminal. It is also worth noting that it is unlikely that anyone will trade with a deposit of more than 25k dollars with a forex broker without normal regulation on CFD.
Because forex brokers do not provide real ownership of shares or other assets, but only allow you to play on the difference in instrument prices. In cases with the regulator, this also plays a big role. But stock brokers such as Interactive Brokers provide the right to own shares and other valuable assets.
If you have similar requests, you can contact us and we will be happy to help in solving your problems.