This 2021 walkthrough shows how to connect MarketXLS to Interactive Brokers (IBKR): install the desktop Trader Workstation (TWS) and the TWS API, enable ActiveX and Socket Clients in TWS (Global Configuration > API > Settings, socket port 7496), keep TWS running, and then type =ib in an Excel cell to list the Interactive Brokers functions. The integration requires the desktop version of TWS, not the web version. This post describes the integration as released in 2021; confirm that the IB functions are available in your current MarketXLS version on /formulas or with support@marketxls.com before relying on it.
About Interactive Brokers
Interactive Brokers LLC describes itself as the largest U.S. electronic broker by daily average revenue trades. It connects to electronic exchanges globally and lets investors trade stocks, options, futures, EFPs, futures options, forex, bonds, and funds.
Interactive brokers mainly cater to institutional investors and sophisticated, active traders around the globe. They provide a wide range of offerings and stay on top of changes in market conditions to achieve optimal execution.
Trader Workstation (TWS)
Everything about Interactive Brokers centers around Traders Workstation (TWS). TWS is a powerful and extensively customizable downloadable platform. It provides solid fundamental research and the charts are very good with a suite of indicators.
Once you get into TWS, Interactive Brokers’ trading experience stands out among all brokers. It lets you set order defaults for every possible asset class, as well as define hotkeys for rapid order transmission. Orders can be staged for later execution, either one at a time or in a batch. You can set a date and time There are many ways an order can be entered.
Interactive Brokers walkthrough for MarketXLS users
In 2021 MarketXLS added an Interactive Brokers integration. Here is how the connection was set up:
(Steps 1-3 are only necessary if the customer is not already running TWS)
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Make sure Interactive Brokers Trader Workstation is fully installed (not web-based version)
2. Also install TWS API
When you’ll install TWS API, please open the TWS application and go to Global Configuration -> API -> Settings
Make sure ActiveX and Socket Clients checkbox is enabled. Socket port should be 7496
Click OK
3. Open Interactive Brokers TWS and keep it running.
4. Open Excel and start using MarketXLS. Functions are pre-loaded. You can find the full list of Interactive Broker functions here.
5. Or type =ib in a cell and the functions list will load.
