Looking for a platform with a good trading API

[dellen 4]

Hi everyone,

I'm looking for a platform with a good trading API. I'm currently using DAS TRADER but access to their API is too expensive. Can anyone recommend anything? It's for an automation project.

Thanks!

[Eric 6]

Interactive Brokers has an API that I use every day for portfolio automation. I did not write that code myself, but I find it very useful.

That being said, I have repeatedly seen glitches from trying to make bracket orders directly from IB's menus, but never without bracket orders, or if a 3rd party API service is managing the API requests.

In general, it has high quality fills at a very fast speed. IB also has some anti-slippage algorithms that I find very useful, and that, unlike bracket orders, are safe to use directly from the menu: MidPrice and AdaptiveAlgo (MKT). There is also a panic button option where you can cancel all orders and positions, whether in sim, live, or both. And in my opinion, IB has the best candlesticks, with the option to use as much magnification as 5-second candles, which is something that I personally find makes the opening less overwhelming by slowing down perceptual time a bit, while also telling a story that a bouncing candle cannot. 

But the biggest reason I would say to use IB is that they have an entire advanced course that they offer to members on how to use python to automate financial derivatives with their API. You might be uninterested in options or futures, but you should find all the basics right there.

TD Ameritrade has some kind of API but I am in the process of running away from them screaming for giving me slow low-quality fills that would probably make Robinhood look good. Best charting platform on the market but do no recommend for live day trading money, unless it's 100% academic like you say, but I have no experience with their API so I don't know about that.

Another option to consider is TradeStation would be because they have their own API language/community with a marketplace where you can buy API programs that will most generally automate options trading for you. But I do not trust them because, like TD Ameritrade, they like to offer free trade promotions, but the fine print says you would instead have to pay if you want direct access. If just academic, that doesn't matter, but I personally would not want to invest myself in something that I would not want to end up having as a system that can handle real money -- outside of school.

Edited September 30, 2019 by Eric

[KyleK29 257]

On 9/30/2019 at 2:59 PM, dellen said:

Hi everyone,

I'm looking for a platform with a good trading API. I'm currently using DAS TRADER but access to their API is too expensive. Can anyone recommend anything? It's for an automation project.

Thanks!

I'd second Eric's suggestion on IB. You can use MetaTrader, but it uses it's own syntax that you'd have to get accustomed to. IB offers their API in a variety of languages. Plus, another added bonus is if you play nice with the API, you can download market historical data without paying the massive costs data-brokers want for it.
 

Other automated platforms would places like QuantConnect.com and TradingView.com.

[dellen 4]

Thank you guys for the input, I've been working with the IB (TWS) API and its great as you mentioned.