Posted on

Recommended TWS Version for products

Unlike recommended in a prior post, it is best practise to stick always
with InteractiveBrokers time tested version (download lower right “TWS Offline-Version”). Currently this is version 981.xx.

Some users report problems using newer TWS like the version above.
For instance, the MTIB Order Copier never completes connection.

If you have this problem, go to API settings in TWS / Gateway and
follow this procedure:
– Uncheck “Allow connections…”.
– Reconnect software with TWS / Gateway
– When asked to accept connection from (name)/ip, note the IP
then create a Trusted  IP and just put IP (name excluded) in.
– Save
– When the software conencts next time, it should
work without the need to confirm connection.

Posted on

MetaTrader and Interactive Brokers

We often get requests to connect MetaTrader with InteractiveBrokers (IBKR).
Poeple expect to login into their IBKR account using MetaTrader 4/5.

This is not possible. MetaTrader is not designed for this.
Also feeding MetaTrader charts with external market data, like
IBKR quotes, is not possible.

Also JTWSData can not do this. You can create your own MT symbol (custom symbol) and then use JTWSData to feed with IBKR market data
, even realtime but you won’t be able to place an order for such symbol.

Why not ?

Because the MetaTrader design is a closed concept:  You can only trade with
MetaTrader Broker you are connected to by MT login. This MetaTrader broker has
its own tradeble symbols.

A custom symbol belongs not to this list.

MetaTrader brokers need control about market data for their business
concept.  This is how they make money. So they won’t allow to trade symbols,
which they do not control.

The good news: You can even use MT4/MT5 to trade an IBKR account: Explainer Video how to