Step 1: Download and install Interactive Broker’s TWS or IB Gateway
Both TWS and Gateway can be used to trade. If you are relatively new to trade at IB, then I would recommend TWS as it is more user friendly. However, if you want to save time and avoid IB system restarts then go for the IB Gateway.
Step 2: Configure TWS if you are using TWS
Open TWS and input your credentials, you will see TWS is running.
Then click the little tool and select “Settings”, you will see a window jumping out.
Click “API” on left
Make sure “Enable ActiveX and Socket Clients” is checked
Make sure “Socket port” is “7496”
Then, click “OK” to complete the configuration.
Step 2: Configure if you are using IB Gateway
After input your IB credentials, IB Gateway opens. Please go to its configuration.
Then, click API-> settings on the left hand. Make sure the Socket port is 7496.