Data Connections allow IQBroker to obtain market data. Each portfolio has only one active data connection. However, you can switch the active data connection at will.
The Connections menu lets you change the active connection, or create and delete connections.
The menu shows the available Data Connections at the top and the available Broker Connections at the bottom. The active connection of each type is highlighted with a green bullet.
Some companies provide both Data and Broker services; that's why the same names appear as both Data Connections and Broker Connections.
Supported Data Connections
Free Data Connections
Free Servers - loads data from several free services: Google, Yahoo and Quandl. Uses the best data from each of these services.
Google - loads data from Google Finance
Yahoo - loads data from Yahoo Finance
Commercial Data Connections
You need to create an account with these data providers in order to use them.
Other Data Connections
ASCII - imports data from ASCII files
MetaStock - imports data from files in the MetaStock format
Simulation - generates random market data; useful for testing
Data Connection Recommendations
If you have an account with one of the commercial data providers then you should select that data provider, as they provide superior data to the free data providers.
If you don't already have an account with one of the commercial data providers, and you intend to sign up to one of them, then you should be aware that Barchart and IQFeed are particularly well-suited for use with IQBroker's Backtesting features. The reason is that Backtesting requires downloading a lot of historical data quickly, and these services don't have rate limitations on accessing their data.
If you have existing files with market data then use the ASCII or MetaStock data connections to access that data (see Importing Data).
Otherwise, you should select either the Free Servers or the Simulation data connection. Each of these connections is used for a different purpose:
- If you want to view real data, and you only need End-of-Day data (or some limited minute data), then you should select the Free Servers data connection. We recommend that you create a Quandl API Key in order to increase the amount of data that you can download.
- If you want to practice trading then you should select the Simulation data connection. The reason is that trading requires a constant stream of data, and the Simulation data connection provides such data, while the Free Servers do not. The data generated by the Simulation data connection is made up, but that's not a problem if you're just learning the platform.
You can setup multiple data connections, and switch among them according to your needs.