Introduction: The Dawn of Automated Trading

In the fast-paced world of trading, speed and efficiency are not merely luxuries but necessities. Traders around the globe have increasingly turned to automated trading systems to gain an edge in this high-stakes arena. If you’re considering making the leap into automated trading, there’s a myriad of options available to you, but one name stands out among the crowd: Interactive Brokers. This article will illustrate why Interactive Brokers, with its powerful API and extensive integration capabilities, is an ideal partner for traders embarking on their automated trading journey.

Interactive Brokers: A Reliable Partner for Automated Trading

Interactive Brokers has established itself as a respected name in the world of trading, a reputation built on a foundation of low commissions, excellent customer support, and reliability. For traders transitioning to automated systems, these factors are of paramount importance. Low commissions mean more of your profits stay in your pocket, while exceptional customer support ensures that any queries or issues are swiftly addressed. Reliability, of course, is key; in a game where milliseconds can mean the difference between profit and loss, knowing your broker is dependable is essential.

User reviews: What Others Are Saying

Before opening an account, its always wise to check, what other users with service experience are saying about it. We made a short list with sources of Interactive Brokers customer reviews:

  • A user on Sitejabber said Interactive Brokers is a “great low cost broker”, although they also mentioned the support is limited and difficult to contact sometimes. They commented that the trading screen looks outdated but is powerful​.
  • Another user on the same site called Interactive Brokers the “best broker ever”, highlighting its cheap price, reliability, and transparency. They also pointed out that Interactive Brokers is one of the largest brokers in the world, and is highly recommended​.
  • On Brokerchooser, Interactive Brokers was highly recommended for those seeking a broker with all-round great services at low fees. They mentioned that Interactive Brokers has an unrivaled selection of all asset types from exchanges across the globe, offers many trading platforms with great functionality and advanced research. However, they also noted that the account opening is long and tedious, and customer service can be busy​.
  • An expert opinion on Brokerchooser said that Interactive Brokers has one of the broadest product offerings and a complex and advanced trading platform, all at reasonable fees. They suggest the broker is a popular choice for experienced and professional traders and investors, but they cautioned that the regular account opening process and customer service are not user-friendly​.
  • Nerdwallet gave Interactive Brokers a rating of 5.0, stating that active and casual traders alike will benefit from Interactive Brokers’ advanced execution, strong trading platforms, and rock-bottom pricing. They also mentioned a large investment selection, strong research and tools, and over 18,000 no-transaction-fee mutual funds as pros of the platform​.
  • Interactive Brokers was praised for its large investment selection and the range of tradable securities it offers. The service is also appreciated for offering unlimited free trades of stocks and exchange-traded funds that are listed on U.S. exchanges through its IBKR Lite service. The advanced platform of IBKR Pro is appreciated by advanced traders​

Unleashing the Power of Interactive Brokers’ API

Interactive Brokers’ API (Application Programming Interface) is a powerful tool that can unlock new possibilities for traders. At its core, the API allows users to access market data, execute trades, and manage orders in an automated fashion. This automation can lead to more efficient trading and a potential edge over competitors.

For those with a background in Python, the ib_insync library is a potent ally. This Python library, designed specifically for Interactive Brokers’ API, provides a high-level interface that allows for simple, yet effective trading integrations. With ib_insync, users can seamlessly manage their trades and access real-time data, giving them the tools they need to succeed in the fast-paced world of automated trading.

Personal Experience with Interactive Brokers’ API and ib_insync

I can personally attest to the power of Interactive Brokers’ API and the ib_insync library. Using these tools, I crafted a portfolio management tool that has become an integral part of my live trading workflow and is fully shared within “Your First Systematic Trading Portfolio” workshop. By leveraging Interactive Brokers’ API and ib_insync, I was able to create a management tool that perfectly aligns with my trading strategies and needs. This experience is a testament to the potential of these tools when used in synergy, providing a robust and customizable automated trading environment that can help you achieve your trading goals.

Conclusion: Venturing into the Future of Trading

As we’ve explored, Interactive Brokers offers a compelling package for traders looking to venture into automated trading. Their low commissions, exceptional customer support, and reliability make them a trustworthy partner. Furthermore, their powerful API and extensive integration capabilities provide a robust foundation for creating a customized trading system that fits your unique strategies and goals.

The ib_insync Python library, specifically designed for Interactive Brokers’ API, allows you to develop high-end trading integrations with ease. My personal experience in creating a portfolio management tool using these technologies stands as a testament to their potential and those technologies are also used as cornerstones for our Your First Systematic Trading Portfolio workshop.

Moreover, the successful experiences of many traders around the world further underline the value and capabilities of these tools. They provide a powerful platform to help you realize your ambitions in the world of automated trading.

The future of trading is automated, and Interactive Brokers, coupled with ib_insync, provides the tools, support, and reliability you need to venture confidently into this exciting domain. So, why wait? You can open your account on this link and begin your journey into automated trading with Interactive Brokers and ib_insync today, and let the markets work for you.