PRT with IBKR data feed

• 08/24/2021 at 1:33 PM #176083
  dimmol

  Hi All,

  I have an account with IBKR and want to get off their TWS platform. PRT is one of my top choices.

  I am happy to rent PRT as it is just $29 but I am rather put off by their data feed prices. E.g., if I want to get CME L2 futures feed I have to chip in something in excess of $120. I already have IBKR data subscription and I wonder if there is a way to use it with PRT? PRT website states that IBKR connection is only for order execution and all the data should be coming through them which is not what I want. Also, I am not happy with such set up as I reckon it means that all order triggering will be done in PRT software itself and not “server-side”.

  So, does anyone know a way to connect PRT to IBKR account and use native IBKR data feed?

  Unfortunately, opening an account directly with PRT is not an option for me as I am not in Europe and it seems to be their requirement. Also, their brokerage fees seem to be way above what IBKR offers.

  Cheers,

  D

  

  dimmol

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  08/24/2021 at 3:06 PM #176093
  PeterSt

  Hi Dimmol,

  In which country are you ? I am not the best with reading country flags.

  The answer will be somewhat more complicated, *if* good answers exist at all.

  1. Subscriptions for data feeds are completely free, if you sufficiently trade. Don’t ask me the amounts, but generally you earn 1 euro per trade. Even the subscription to the platform is free then.
  2. Strong Disclaimer : This may act differently per country, although I never heard of that.
  3. Possibly #2 testifies by means of the 2nd attachment. I don’t think it is as expensive as you mention (??).
  4. For me, as a direct PRT  subscriber, it is the other way around : I need to pay extra for IBKR real time (subscription) data. This is indeed lower than what PRT chargers, but then again PRT in the end is for completely free while IBKR herself does not give these discounts (as far as I can tell).
  5. I reckon it means that all order triggering will be done in PRT software itself and not “server-side”. No, all is as much server side as TWS is. Both seamlessly integrate and you can use the one you want for trading (each order mutually appears in the other). Actually the greatest part of PRT is that all is server side. BUT :
  6. I am quite confident that this can not be in order for you(r country) and you will need to use the PRT API. This again works seamlessly with TWS, but TWS needs to be up and running, and indeed PRT now operates locally. Personally I did not see a downside really when I used the API, apart from the necessity of TWS needing to run to deal with the orders. This surely gets used to.
  7. The 3rd attachment shows my broker fees for futures (I currently can show any from stocks, but they are lower because the prices are lower). I don’t know how to tell you the with-going amounts without telling them (haha), but if anything I deem is low (theoretically, yes, PRT will also charge a fraction). Anyway, I’d hope to bring across that if you trade some “amount”, the broker fee really is unimportant. This is obviously not so when you deal with orders of, say, 100 dollars, but then the overhead weighs in. And also, the spread can be neglected (it will be the same as IBKR which is about “nothing” during daytime hours).

  ---

  You didn’t ask for it, but if I had to rate TWS vs PRT, I rate TWS a 2 and PRT a 9 or 10.
  On the other hand, I’d rate the IB Mobile platform a fat 10. And as you know, you can use the IBKR mobile app in parallel with PRT.

  Peter

  

  PeterSt

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  08/24/2021 at 3:12 PM #176097
  PeterSt

  PeterSt wrote:

  (I currently can show any from stocks,

  *can-not show

  1 user thanked author for this post.

  dimmol

  

  PeterSt

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  08/25/2021 at 9:31 AM #176162
  dimmol

  Peter,

  Thanks for detailed response. I am in Australia and I am a beginner taking occasional trades on micros. My commission with exchange fees is about $1.50 total per micro contract.

  I did a trial of PRT via demo account with FX broker (I do not trade FX, it was genuine curiosity) and indeed PRT is way more eye-pleasing than TWS. Therefore my interest – that far I am struggling to find a decent futures trading platform that I could use without the struggle of constantly trying to find workarounds.

  Attached are data feed prices for GLOBEX and NYMEX I can see on PRT website, as you can see they are a bit extreme. I’ll try emailing them to figure out if I am missing something.

  Cheers,

  D

  

  dimmol

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  08/25/2021 at 1:47 PM #176208
  PeterSt

  Still, there is not much difference. Only the CME E-Mini with 1 line, somehow. If your prices are ($) AUD, then generally it’s cheaper.

  A confusing part may be that you’d only need what I show active there, and it allows you to trade Nasdaq, S&P500 (Mini and Micro) and Russel 2000 futures (Mini). All actually Globex (24 hr per day apart from 1 hour after USA Stock closing time). This does not include the Dow Jones Future.

  I see USD 2.00 for one micro contract. This is how the Mini will be (much) cheaper; all obvious once you know it (keep in mind when you start to trade 10 because 1x Mini is USD 2.10). Similarly, keep in mind that a full trade requires two times that contract price.
  European Futures have varying prices (and need additional subscriptions).

   

  dimmol wrote:

  I’ll try emailing them to figure out if I am missing something.

  Getting an answer fast could be problematic at this moment (because of summer holidays).
  Let us know what you find out, please; it will be helpful for many.

  Peter

   

  

  PeterSt

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