OmniTrader Forum : OmniTrader 2020 Technical Support : Question on IB or Gxtrader

You are currently browsing as a guest.
You should logon to access more features

A Self-Moderated Community - ALL MEMBERS, PLEASE READ!
Vote for Members who contribute the most to your trading, and help us moderate content within the Forums.

Current location		Thread information
OmniTrader Archives OmniTrader 2020 Technical Support Question on IB or Gxtrader		Last Activity 5/10/2021 4:44 AM 13 replies, 1673 viewings

Jump to page : 1
Now viewing page 1 [25 messages per page]

< Previous Thread :: Next Thread >

Printer friendly version

^ Top

Member

Posts: 12

Joined: 12/29/2003
Location: Voorschoten, Netherlands

User Profile

Subject : Question on IB or Gxtrader
Posted : 6/10/2020 12:22 AM
Post #47271

I am a pit puzzled how this works. I am looking into the option of using either GXtrader(Garwood with IB clearing) or using IB(Interactive Brokers) directly with OT2020 or VisualTrader12.

Can anyone share their experience with either of the two(GxTrader/IB) and the integration with the Nirvana products? Why should I use either GXtrader or IB?

Also on ease of depositing or withdrawing money from the trading account.

I am living in Europe and the FAQ of both companies are not very clear for non US citizens as they do not mention how to do this from my personal bank in The Netherlands to the trading account with GxTrader/IB?

Does anyone from Europe can share their thoughts on this?

^ Top

Jim Dean

Sage

Posts: 3022

Joined: 9/21/2006
Location: L'ville, GA

User Profile

Subject : RE: Question on IB or Gxtrader
Posted : 6/10/2020 6:32 AM
Post #47272 - In reply to #47271

IIRC, the route thru GX is required, if you want the fast-and-secure FX-transmission channel to be used. I’m not sure if there are any differences in order types supported.

Hopefully Barry will weigh in on any other nuances.

^ Top

Barry Cohen

Sage

Posts: 6338

Joined: 1/19/2004

User Profile

Subject : RE: Question on IB or Gxtrader
Posted : 6/10/2020 12:40 PM
Post #47277 - In reply to #47271

The GXTrader connection has it's own interface integrated in OT/VT while with the IB connection you have no choice but to use TWS to view your account & trade information. GXTrader also doesn't support everything that IB does, like Forex for example. I'm not sure about non-US limitations on either, you may need to ask Garwood directly. One thing I can tell you is that if you go the GXTrader route, you are then able to use either method of connecting.

^ Top

Member

Posts: 12

Joined: 12/29/2003
Location: Voorschoten, Netherlands

User Profile

Subject : RE: Question on IB or Gxtrader
Posted : 6/10/2020 12:45 PM
Post #47279 - In reply to #47277

Thanks Jim and Barry. Is there a manual on the GXtrader route?

^ Top

Barry Cohen

Sage

Posts: 6338

Joined: 1/19/2004

User Profile

Subject : RE: Question on IB or Gxtrader
Posted : 6/10/2020 5:44 PM
Post #47288 - In reply to #47279

There isn't a manual for using it. You just select it in the dropdown & login. Or did you mean the procedure to transfer to Garwood?

^ Top

Member

Posts: 12

Joined: 12/29/2003
Location: Voorschoten, Netherlands

User Profile

Subject : RE: Question on IB or Gxtrader
Posted : 6/10/2020 11:08 PM
Post #47292 - In reply to #47288

Hi Barry, I really mentioned if there is a manual for Gxtrader connection, as looking at past questions on this forum otherusers bump into issues that were not understood immediately: such as on open positions: see this thread https://www.omnitrader.com/currentclients/otforum/thread-view.asp?threadid=14489.

I think not for all users everything is intuitively understood, so a manual on the obvious things should be necessary. It is a pity it isn't there.

Remaininmg questions:
For the rest I do understand that GXtrader is the preferred way, but can I use IB with OT/VT without having Garwood as my introducing broker?

What are the possibilities/limitations to use IB directly from within OT/VT?

Are transactions encrypted through IB or Garwood/IB encrypted?

Apologies for all these questions, it is important to understand how this works and what the limitations are.

[Edited by pw on 6/11/2020 12:33 AM]

^ Top

Barry Cohen

Sage

Posts: 6338

Joined: 1/19/2004

User Profile

Subject : RE: Question on IB or Gxtrader
Posted : 6/11/2020 11:15 AM
Post #47300 - In reply to #47292

can I use IB with OT/VT without having Garwood as my introducing broker?

Yes. If you have an account with IB or Garwood, you are still able to use OT integrated with TWS/IB Gateway.

What are the possibilities/limitations to use IB directly from within OT/VT?

You won't be able to view your orders, positions, & account information inside OT. You'll need to use TWS for that. And TWS does not maintain a 24 hour connection, so you have to use IB Gateway if you want that, & IB Gateway has no access to view your orders, positions, & account information.

Are transactions encrypted through IB or Garwood/IB encrypted?

I'm not sure what you mean by that.

^ Top

Member

Posts: 12

Joined: 12/29/2003
Location: Voorschoten, Netherlands

User Profile

Subject : RE: Question on IB or Gxtrader
Posted : 6/12/2020 2:01 AM
Post #47301 - In reply to #47300

Barry,

On my question: Are transactions encrypted through IB or Garwood/IB encrypted?

I do not understand how OT/VT is integrated with IB/Garwood. So, is the API or gateway to IB or Garwood encrypted, so that no data is sent readable over the Internet?

^ Top

Jim Dean

Sage

Posts: 3022

Joined: 9/21/2006
Location: L'ville, GA

User Profile

Subject : RE: Question on IB or Gxtrader
Posted : 6/12/2020 7:52 AM
Post #47303 - In reply to #47301

Unless it’s changed, routing thru GX uses FIX. Direct to IB doesn’t. See the link:

https://www.investopedia.com/terms/f/financial-information-exchange.asp

^ Top

Barry Cohen

Sage

Posts: 6338

Joined: 1/19/2004

User Profile

Subject : RE: Question on IB or Gxtrader
Posted : 6/12/2020 9:30 AM
Post #47304 - In reply to #47301

Yes it uses FIX as IB requires for any such broker connections.

^ Top

Member

Posts: 12

Joined: 12/29/2003
Location: Voorschoten, Netherlands

User Profile

Subject : RE: Question on IB or Gxtrader
Posted : 6/12/2020 9:42 AM
Post #47305 - In reply to #47304

Great, thx Barry and Jim.

^ Top

Anthony Wood

Member

Posts: 8

Joined: 3/28/2021
Location: Stafford

User Profile

Subject : RE: Question on IB or Gxtrader
Posted : 3/29/2021 5:13 AM
Post #48001 - In reply to #47271

Does anyone know if UK customers can take advantage of the GX Trader/ IB link?

^ Top

Barry Cohen

Sage

Posts: 6338

Joined: 1/19/2004

User Profile

Subject : RE: Question on IB or Gxtrader
Posted : 3/29/2021 9:09 AM
Post #48003 - In reply to #48001

Yes, Garwood supports UK.

^ Top

Barry Cohen

Sage

Posts: 6338

Joined: 1/19/2004

User Profile

Subject : RE: Question on IB or Gxtrader
Posted : 3/29/2021 2:10 PM
Post #48004 - In reply to #48003

Sorry, we just got an update from Garwood that there was a change with Brexit & as a result they aren't taking UK clients at this time.

Jump to page : 1
Now viewing page 1 [25 messages per page]

< Previous Thread :: Next Thread >

Legend			Action		Notification
Administrator Forum Moderator	Registered User Unregistered User		E-Mail this thread to a friend		Toggle e-mail notification

For any problems or issues please contact our Webmaster at webmaster@nirvsys.com.