Trading with multiple brokers on same instrument?

[darckeen]

Was wondering if it is possible with multi broker license to trade the same instrument with different brokers. Say if i wanted to trade currencies and had and account with GAIN and MBT, could i route my order to the best price available?

[NinjaTrader_RJ]

Was wondering if it is possible with multi broker license to trade the same instrument with different brokers. Say if i wanted to trade currencies and had and account with GAIN and MBT, could i route my order to the best price available?

Hello Darckeen,

Thank you for your post.

Yes, you can trade the same instrument into different accounts, however there is no way to automatically route to the best price available.

[darckeen]

Can this be done within a single strategy or would you need to run seperate instances of a the strategy each on a seperate account?

[NinjaTrader_RJ]

Can this be done within a single strategy or would you need to run seperate instances of a the strategy each on a seperate account?

You would need a seperate strategy for each account ( could be same strategy applied again, choosing the other account).

[jmflukeiii]

On the same note, can you connect to two brokers, and chart with one and execute orders for another? i.e. Chart with gain for tick data, but execute through Interactive? If not on the same chart, could I have say a 1 tick Gain chart up and a 5 minute IB chart next to it and execute orders through the IB chart?

[NinjaTrader_Matthew]

It would be possible, but the connection order is important.

The first connection you have established will work as the primary connection for any supported instruments. So in your example, you would need to make sure you are connecting to GAIN first, and then connect to IB. With this configuration all of your real-time and historical data for FOREX will come from GAIN, and still allow you to execute orders to IB.

More on this topic at: http://www.ninjatrader.com/support/h...onnections.htm

[jmflukeiii]

Matthew -

So if I have charts up from Gain showing 1 tick or whatever and I place a trade through chart trader on that chart, will it go through Gain or will it go through IB? Can I place a trade through IB on that chart's chart trader?

[NinjaTrader_Matthew]

You have the option of selecting the account from chart trader.

You will be able to select your GAIN, IB and Sim101 account.

[jmflukeiii]

You have the option of selecting the account from chart trader.

You will be able to select your GAIN, IB and Sim101 account.

So just to completely make sure I'm clear - I can have my 1 tick chart open with Gain data. I can open up chart trader, I can select IB under account. And when I click buy it will fill me through IB. Will it mark on the chart that order at IB's fill price? (I ask because IB's bid/ask are always completely inside Gain's)

[NinjaTrader_Matthew]

It will mark the execution at the price IB executed you at. If this differs from GAINS tick data, you may see a discrepancy and can be expected as you have noted.

[jmflukeiii]

That's perfectly fine, I don't want Gain's prices anyway. And two last questions: by selecting IB as the account on the chart trader (as long as I'm connected in the correct order), that won't change the data for that chart to IB's. And if I only execute through IB (never Gain), but still chart through Gain, do I need a multi-broker license?

[NinjaTrader_Matthew]

Correct - changing the account from chart trader will not change connection that is used for data.

In order to connect to both IB and GAIN, you will need a multi-broker license key.