Getting Started with the Interactive Brokers API: A Beginner’s Guide

IBKR API Guide with Python

Introduction

Interactive Brokers (IBKR) offers a robust API that allows traders to create custom trading applications, automate strategies, and access a wide array of financial markets. This guide will help you get started with the IBKR API and explore its differences from the TradeStation Gateway.

Why Use Interactive Brokers API?

Interactive Brokers provides a versatile and comprehensive API suite that supports multiple programming languages including Python, Java, and C#. This allows for extensive customization and automation capabilities, making it suitable for both individual traders and institutional clients. Here are some key benefits:

• Global Market Access: Trade across 150 markets in 34 countries​ (Interactive Brokers)​.
• Comprehensive Trading Tools: Access real-time market data, historical data, and a wide range of order types​ (Interactive Brokers)​.
• Automated Trading: Automate complex trading strategies and integrate them into your existing workflows​ (Interactive Brokers)​.

Setting Up the IBKR API

To get started, you’ll need to choose between the Trader Workstation (TWS) and the IB Gateway (IBGW)…