Connecting MotiveWave to InteractiveBrokers' TWS

[BenjFranklin]

I love the MW demo and want to use MW as my platform to scalp futures in my InteractiveBrokers account.
I know I can subscribe to MW and "connect" it to my IB account, but exactly what does that do?
For example:
1. Do I understand correctly that in my situation, MW simply acts as the charting/execution platform that bypasses the TWS platform, while IB is the actual account where all the activity occurs?
2. Does MW "respect" the IB margin requirements? IB offers no reduced intraday margins -- meaning each futures contract must have full margin in the account (for NQ and ES, that's around $18,000 per contract), which is fine with me as my IB account can handle that.
3. Are there any negatives to using MW connected to an IB account?
Thanks!

 

[nooris]

MotiveWave is only a charting/execution platform. This is how it works with all brokers, not just IB. It doesn't change margins or commissions or anything else. That should answer 1 and 2. I don't use IB so I can't answer number 3.

 

[BenjFranklin]

thank you nooris. that clarifies a lot and I appreciate it.

 

[luissantillana33]

A possible negative & that depends on if you trade from time charts or tick charts would be that. I prefer to execute from tick charts so IB data wouldn’t cut it for myself. If you trade from time charts then it might not be a big deal to you.

 

[BenjFranklin]

Yes, tick man here. That would be a problem with TWS. Thanks.

 

[nooris]

On Sierra all IB accounts use Denali data, so it might be possible to do something similar on MotiveWave. Basically keep Rithmic data but execute through IB (all within MotiveWave, I am not talking about juggling platforms).

 

[OliviaBurns]

I love the MW demo and want to use MW as my platform to scalp futures in my InteractiveBrokers account.
I know I can subscribe to MW and "connect" it to my IB account, but exactly what does that do?
For example:
1. Do I understand correctly that in my situation, MW simply acts as the charting/execution platform that bypasses the TWS platform, while IB is the actual account where all the activity occurs?
2. Does MW "respect" the IB margin requirements? IB offers no reduced intraday margins -- meaning each futures contract must have full margin in the account (for NQ and ES, that's around $18,000 per contract), which is fine with me as my IB account can handle that.
3. Are there any negatives to using MW connected to an IB account?
Thanks! Getmodnow is not only a platform providing Mod APK, but also an open community for everyone to share the same passion.

Certainly:

Functionality: MultiCharts (MW) becomes your trading platform for analysis and order placement, connected to your InteractiveBrokers (IB) account. MW handles charts and execution, while IB manages your account and transactions.

Margin Requirements: MW should respect IB's margin requirements for futures trading. Ensure correct margin calculations when using MW to trade in sync with IB.

Negatives: Potential downsides include technical issues, a learning curve if transitioning from IB's platform, and potential support/documentation challenges with MultiCharts.

 

[BenjFranklin]

Certainly:

Functionality: MultiCharts (MW) becomes your trading platform for analysis and order placement, connected to your InteractiveBrokers (IB) account. MW handles charts and execution, while IB manages your account and transactions.

Margin Requirements: MW should respect IB's margin requirements for futures trading. Ensure correct margin calculations when using MW to trade in sync with IB.

Negatives: Potential downsides include technical issues, a learning curve if transitioning from IB's platform, and potential support/documentation challenges with MultiCharts.

Thanks, Olivia. Very helpful and clear. Take care.