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Contacted IB customer service to see how I could check if my API is enabled to run my first live algo and turns out that according to a rule, Canadians are not allowed to use IB API anymore. Are there any Canadians that have run into this issue? if so, any work around?
This was their statement:
Interactive Brokers Canada Inc. (IBC) will no longer allow you to use your own trading application to electronically submit order for equities traded on a Canadian exchange or other marketplace through our proprietary application interface or API this information is 100% accurate.
Rahul Chowdhury
Hey Andrés,
Thank you for the information, we have not heard anything about this at this time.
Jared Broad
That is insane Andres. Perhaps you could reopen an account with IB USA?
The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.
Magno0113
I'm with Interactive Brokers Canada and I have an algorithm running LIVE through QuantConnect. No issue's for me.
Andrés M
How long have you been running your algorithm(s)? and which province did you use when opening your IB account?
Magno0113
I've been running my algorithms for a year and a half. I opened my IB account from Ontario..
Derek Melchin
Hi Magno0113,
As an Albertan with an IB Canada account, I was able to reproduce this.
When submitting orders to purchase VCN on the Toronto Stock Exchange, I received the following error message:
>> Order rejected - reason:API/CTCI orders for canadian stocks are not allowed
However, I was able to purchase AAPL stock on the Nasdaq Exchange via the IB API.
To do this, I utilized the python script from this video.
Best,
Derek Melchin
The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.
Max Kovalev
I think IB Canada is not allowed to trade electronically on the Canadian market, but USA market still open for IB Canada.
Andrés M
Max Kovalev thanks for claryfing this. Back when I first tried to setup my algo it was trading SVXY, VXX and VXZ so not sure why they did not let me.
I will setup everything and try again this week to see what happens and will post update whether I can or can't. I really hope I can run my algos lol
Aaron Janeiro Stone
Max Kovalev I am pretty sure that is the case.
On another note, I am an Ontarian and am running into issues only because my "settled cash" is in CAD and doesnt seem to automatically get converted into USD (thus, I get
```Invalid Quantity: 3 Message: 201 - Order rejected - reason:CASH AVAILABLE (SETTLED CASH): 0.00;```
type errors despite having cash in the account). While my paper trading did not run into this issue despite using CAD, I have changed my base account currency to USD; I should be able to see tomorrow if this was the cause of my issue.
Derek Melchin
Hi Aaron,
To purchase US equities through IB, you'll need to first use their currency conversion tool to convert your account's CAD to USD.
Best,
Derek Melchin
The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.
Aaron Janeiro Stone
Derek Melchin , thanks, can confirm that worked!
Ram Mars
Hi everyone,
Just ran into this issue today, and wondering if there have been any developments on this front? Thanks in advance.
Derek Melchin
Hi Ram,
Please contact support@quantconnect.com with the algorithm attached for issues with live trading.
Best,
Derek Melchin
The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.
Jason Annable
I asked IBKR about this and this is the response I got:
Interactive Brokers Canada Inc. (IBC) will no longer allow you to use your own trading application to electronically submit order for equities traded on a Canadian exchange or other marketplace through our proprietary application interface or API.
This decision has been made further to multiple and extensive communications between IBC compliance and personnel and senior management of the Investment Industry Regulatory Organization of Canada (IIROC), our self-regulatory organization. IIROC has implemented IIROC Dealer Member Rule (DMR) 3200 A. 1. (b) (i) which prohibits IIROC registrants, including IBC, from allowing its clients to use their own automated order systems to generated orders.
Regards,
Adarsh A.
IBKR Client Services
I wonder if/how we make an appeal. Or maybe there is another brokerage to use? How have others worked around this obstacle?
Jason Annable
IBKR's reply to my follow-up below. This sucks!
Unfortunately due to Canadian regulation, Canadian clients cannot place API orders for Canadian securities.
Unfortunately 3rd parties must abide by the same Canadian regulation when making use of the API.
Fred Painchaud
Hi,
The title of this thread is somewhat misleading. Canadians CAN use IBKR Canada to algo-trade. But Canadians cannot algo-trade Canadian securities with IBKR Canada.
The key word is Canadian securities. Not all securities.
Of course, if Canadians could not algo-trade with IBKR Canada at all then why would you create/enable an API…
That being said, the fact that Canadians cannot algo-trade Canadian securities (their own economy) with IBKR Canada is somewhat of a pity… Must be about past abuse wrt fiscal laws.
Fred
Andrés M
The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.
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