/ Moorsalin's Blog

Choosing a source of market data

I just took a class on machine learning for trading and now I’m itching to set up my own algorithms and make bank. The first problem I need to solve is getting data. My choices are:

I’m going to go with alpaca.markets for now. Alpaca supports paper trading and executes trades on IEX. I like the concept of the IEX and its attempt to reign in high frequency trading advantages. That’s one less advantage the big wigs have.

If I decide to go broke trade options, I will consider Interactive Brokers because of its wide selection of markets. Since Charles Schwab decided to compete with Robinhood and cut commissions, offerings for non-professional traders have been improving significantly. Many competitors including E-Trade, Ameritrade, Interactive Brokers are following suite and offering commision free stock and ETF trading.