Trading Z3 with Ally Invest

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Re: Trading Z3 with Ally Invest [Re: cwford] #481369
09/02/20 20:40 09/02/20 20:40

Joined: Jun 2013
Posts: 1,609

DdlV

Serious User

DdlV

Serious User

Joined: Jun 2013
Posts: 1,609

Hi @AndrewAMD. I spent a bunch of time today on Ally chat with "Stephen". With his permission, the relevant parts of the chat are ("our team" is the API team):

Code

Thank you for your patience. I spoke with our team and confirmed that the data would be free now. There used to be charges with MBTrading for market data services, but these are no longer charged unless you are a professional user.
Stephen
- 8:11 PM
what's "MBTrading"?

- 8:12 PM
That is a trading platform that we were partnered with, but it merged with us around the beginning of the year.
Stephen
- 8:13 PM
ok. please let me recap to be sure i have the facts correct:
a) in 2017 market data came via mbtrading who charged for it and these charges were passed on to all users
b) in early 2020 ally merged mbtrading in and these charges no longer apply
c) unless the user is a professional
all correct?

- 8:15 PM
It is a bit more complicated regarding a), as MBTrading was a separate platform linked with us but, but correct, these charges are no longer applicable unless you are a professional user.
Stephen
- 8:17 PM
so as a non-professional user, i can trade via any mechanism, including api via 3rd party software, without incurring any data charges, correct?

- 8:18 PM
Correct. The 3rd party may charge a fee for this but we would not.
Stephen
- 8:19 PM

Does "MBTrading" ring any bells? If all of this is true and complete, Ally would seem to be a usable broker again... "usable" meaning no worse than the rest...

At least I have something in writing from them if they decide to try and charge me later...

Re: Trading Z3 with Ally Invest [Re: cwford] #481373 09/03/20 13:17 09/03/20 13:17
Joined: Feb 2017 Posts: 1,724 Chicago AndrewAMD Serious User
AndrewAMD Serious User Joined: Feb 2017 Posts: 1,724 Chicago	You are referring to market data fees. I was talking about Non-Display Use fees. Please reread my post and its attachments in their entirety. I sent Ally another email yesterday: Quote Good evening, Richard, Back in 2017, you sent me this email in response to the attached questionnaire, upon which, I immediately revoked my own API credentials. I just wanted to follow up to see if the Non-Display Use fees are still applicable to the Questionnaire's scenario. (Non-professional.) Thanks, Andrew Their response: Quote Thank you for the email! Yes, these rules are still in place. An API user cannot use the real time market data to initiate any calculations. Nor do we allow automated trading algos to use our API environment, the order is required to be placed manually. Attached are the emails. I strongly recommend against algorithmic trading with a broker that explicitly states that they do not allow automated trading algos. Attached Files ally - q & a.zip (60 downloads) www.vitaltrades.com - andrew@vitaltrades.com

Re: Trading Z3 with Ally Invest [Re: cwford] #481527 09/25/20 05:49 09/25/20 05:49
Joined: Jun 2013 Posts: 1,609 D DdlV Serious User
DdlV Serious User D Joined: Jun 2013 Posts: 1,609	Thanks AndrewAMD. Sorry about the reply delay. Appreciate your follow-through! That's pretty cut & dry. So much for Ally. Perhaps jcl should drop them from the manual? Or is there some reason to keep them around? Thanks.

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