CQG, Philip Capital and NinjaTrader, who's my broker?

[bltdavid]

Assume you have a Phillip Capital account with NT MultiBroker license. Can you use your free data to connect to Interactive Broker and send trade orders to int Broker ?

Yes.

As long as you actually have an IB acct (and have setup the Connection using
your IB credentials) you can tell NinjaTrader to use the data feed from your NTB
account (which means you can completely ignore IB's data feed) and make trades
in both your NTB and IB accounts using only one data feed, such as the free data
provided by your NTB account.

Regarding IB and data feed connections, more good reading here.

[Algodoc]

Hello Algodoc,

Thanks for posting.

Yes, you may use multiple connections simultaneously to accomplish this. Below is a link with more information:

https://ninjatrader.com/support/helpGuides/nt8/multiple_connections.htm

Please let me know if I may be of further assistance.

How does that work with orders then? How do I make sure my order goes to IBKR but not my Phillip Capital account?

Thank you

[NinjaTrader_Tyler]

You may control which account your orders are routed to by using the Account selector within your order entry window (SuperDOM, Char Trader, etc.). All connected accounts will appear within the drop-down menu.

Please let me know if I may be of further assistance.

[Algodoc]

Yes.

As long as you actually have an IB acct (and have setup the Connection using
your IB credentials) you can tell NinjaTrader to use the data feed from your NTB
account (which means you can completely ignore IB's data feed) and make trades
in both your NTB and IB accounts using only one data feed, such as the free data
provided by your NTB account.

Regarding IB and data feed connections, more good reading here.

Thank you so much for your answer kind Sir

[Algodoc]

You may control which account your orders are routed to by using the Account selector within your order entry window (SuperDOM, Char Trader, etc.). All connected accounts will appear within the drop-down menu.

Please let me know if I may be of further assistance.

Thank you so much for such a speedy answer Tyler.

Is there a link that shows what type of exchange data(CME, Comex, Nymex, CBOE) is included in this free data feed that comes with opening an account with one of the FCMs? (phillip/Dorman etc)

Thank you

[NinjaTrader_Tyler]

Thanks for your reply.

Please contact brokeragesales[AT]ninjatrader[DOT]com with this inquiry.

[lyndang]

CQG is your data provider, access to which comes as a package typically bundled from your broker, which
is NinjaTrader Brokerage. In everyday conversation, your "broker" is NinjaTrader Brokerage.

Heard of CME, or ICE, or NYMEX? These are exchanges, sure -- but what they really are are data sources,
which CQG aggregates and provides access to as your data provider.

But, yes, the water is a bit muddy in places ...

Rithmic is another data provider, also available from NinjaTrader Brokerage. The data provider you choose
from NinjaTrader Brokerage is a big deal, because your NinjaTrader software license key must be mapped
correctly at the license server to allow you access to CQG or Rithmic, but not both. If you want access
to both data providers, you would purchase a Multi-Broker license from NinjaTrader. Why would you want
access to both? Let's say you also have a TopStepTrader account, they are Rithmic. If you wish to trade
both your NTB and TST accounts from the same PC using NinjaTrader (ie, selecting the account via the
dropdown Account menu in Chart Trader), then you need the Multi-Broker license -- meaning the license
servers will recognize your software license key as allowing NinjaTrader.exe account credential setup for
any data provider, not just the one on file.

It is important to understand the Multi-Broker license really means a Multi-DataProvider license, each
data provider provides an adapter which provides NinjaTrader.exe with the API technology to access
data from the provider. Sooo, the Multi-Broker license is really misnamed, since if you had two accounts
at two different brokers, and they both use CQG, or they both used Rithmic, you would be hosed. Why?
Because each adapter can only connect once to its data provider (though I seem to notice lately Rithmic
allows multiple adapter connections if you have multiple Rithmic accounts).

Interactive Brokers is a brokerage with it's own data servers, so if you wish to trade an NTB account
along with an IB account, you would still need a Multi-Broker license -- this is because two different data
provider adapters need to be employed to trade these two accounts on the same PC. Well, sort of.

IQFeed is also a data provider, and so is Kinetick. These businesses specialize in data only, they are not
brokers. They are separate businesses and their data is not free. If you have special data needs, you
should investigate these, otherwise the data provider bundled with your NinjaTrader Brokerage account
is usually deemed good enough by most traders. You know that NinjaTrader can trade stocks, too, right?
Well, where do you get the data feed for trading stocks? IQFeed or Kinetick (or others), but neither CQG
or Rithmic offer stocks.

I've never used IQFeed or Kinetick, but some traders do. Why? Well, various reasons -- IB had prior
history of data awkwardness (no tick data, I think) so traders usually paired their IB account with Kinetick
or IQFeed -- or just used the free CQG data if they also had an NTB account and a Multi-Broker license.
It gets a bit messy, because even if you don't want IB's data, but wish to use your free CQG data for
trading both accounts, you'd still need that MB license, because, in this case, you really are multi-broker.

[If you've ever studied your NinjaTrader log files, or dealt with Strategies, you might know that the API
provided by the data provider is really 2 different APIs -- one is for the Data feed and one is for the
the Order feed (aka order routing) -- both come from CQG. This is why you can substitute out the
CQG Data feed portion with Kinetick, but still use the CQG Order feed portion. But I digress ...]

Still with me? Let's finish parting the curtains and get straight to the meat ...

To be clear, NinjaTrader Brokerage is your "Introducing Broker". Your IB is whom you call if you have issues
with your orders or connectivity. After your account is funded, you deal with your IB contact for most issues
regarding your account. In everyday conversation, most people talk of their "broker" as the people they
have contact with the most, which is almost always the people at your Introducing Broker.

Phillip Capital is, I suspect, your "Clearing Broker". You submitted a ton of paperwork (as well as blood, saliva,
and bone marrow samples -- just kidding) to get approved for a brokerage account. NinjaTrader Brokerage
folks probably directed you to Phillips Capital (or Dorman Trading) to get your account approved and funded.
Once Phillips Capital approved your account application, you sent money to fund your account to Phillips Capital,
not NinjaTrader Brokerage.

Your account statements should be coming from the Clearing Broker, since they are the ones who are
involved in daily settlements on your account. You should get a Daily Statement email for each day you
trade (or hold a position) as well as Monthly Statement.

My understanding (which is still limited, and may still be wrong ) is that the Clearing Broker handles the
money aspects of your account, while the Introducing Broker handles you, the human.

Make sense?

So great bltdavid! Thanks for taking time to explain everything clearly. I really appreciate your work!