Welcome to NexusFi: the best trading community on the planet, with over 200,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- discounts are available after registering.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
If you are using any type of tick based bar type, like range, renko, tick, volume, etc, then you should really avoid IB data because it is not at all accurate. You would be better off using a third party data provider that can connect to your charting platform. For example, if using NinjaTrader - then look at IQFeed or Kinetick.
A couple of years ago Russell changed their policy and started charging for data on non-execution feeds. So your broker, like a Zen-Fire based brokerage as an example, should be able to give you TF data for free. But non-brokerage feeds have to charge for it.
No experience with IB in this regard, as I don't use IB data nor would I want to.
When the data fee was introduced there was a rebate of $ 74 offered on the $ 75 fee in case that you had traded at least one lot in the respective months. However, the rebate was cancelled in early 2012:
"Unfortunately, due to material changes in our agreement with the Intercontinental Exchange for dissemination of market data we are unable to offer the ICE/NYBOT feed for anything less than $ 75 dollars. I understand that you received a prior communication indicating a different pricing structure that would be available. We apologize for the lack of confusion and clarity in this particular situation, as indicated if you wish to have access to Futures Traded on the Intercontinental Exchange and New York Board of Trade it will cost $ 75 USD."
Meanwhile the fee has increased to $ 85. The fee is for real-time data only. As IB only transmits snapshot ticks, I do not think that it is worth spending the money. Better get you a decent data feed elsewhere, if you want to trade TF.
Kinetick had also offered data from ICE (including Russel 2000 and Brent Crude futures) prior to 2012. Meanwhile ICE data is no longer available via Kinetick.
