IBKR FAQs

Question 1

Is IBKR suitable for live trading?

Accepted Answer

IBKR is primarily intended for educational purposes and testing AI integration with financial data. While it connects to live TWS, users are advised to start with paper trading and use it at their own risk.

Question 2

What kind of financial data can IBKR provide?

Accepted Answer

You can retrieve your current portfolio with positions and P&L, account balances and key metrics, real-time stock prices, and option prices using IBKR.

Question 3

What are the prerequisites for using IBKR?

Accepted Answer

To use IBKR, you need an Interactive Brokers account (paper or live), either TWS (Trader Workstation) or IB Gateway running, and Python 3.10+ installed on your system.

Question 4

How do I configure my Interactive Brokers TWS for IBKR connection?

Accepted Answer

In TWS Global Configuration, navigate to API Settings. Here, you must enable 'ActiveX and Socket Clients,' set the correct socket port (7497 for paper, 7496 for live), and crucial for full functionality, disable 'Read-Only API'.

Question 5

What is IBKR?

Accepted Answer

IBKR is a Model Context Protocol (MCP) Server designed to enable AI assistants to access real-time portfolio, account, and market data directly from Interactive Brokers' TWS API.

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