InteractiveBrokers, the US based automated global electronic market maker and broker has subsidiaries operating on most major stock, option, futures, forex, bond, ETF and CFD exchanges worldwide. The firm has announced the integration QuantConnet, a platform to Code algorithms in a browser based IDE, using template strategies and free tick data and can be used to backtest strategies using our free, open data sources.
As InteractiveBrokers integrates QuantConnect, the algo system has now created the possibility for live trading, not just backtesting. This service is being made available on Interactive brokers and now open to the public. Users can now connect their Quantconnect to their InteractiveBrokers account, therefore making it possible for them to enable automatic trading of strategies built on the algo platform with a broad range of capabilities. It can be used to trade both the Forex and equities market, using minute second, or tick data for computing automated strategies.
The QuantConnect was previously available on FXCM back in 2013, but the service then was limited to provision of historical and real time pricing data for users to build and back test strategies. On InteracticeBrokers, the QuantConnect service now includes live trading gateway with the online forex broker as in pioneers on InteractiveBrokers.
QuantConnect is a cloud based platform. Other functions such as building and testing of automated strategies still remains free.
About a month back, InteractiveBrokers was fined $1.2million in compensation in a controversial case. The settlement was based on claims that the broker aided and facilitated “reckless trading” by fund manager.