Asset Classes

Free investment financial education

Language

Multilingual content from IBKR

Close Navigation
Learn more about IBKR accounts
Python in Excel – PyXLL vs Microsoft

Python in Excel – PyXLL vs Microsoft

Posted July 17, 2024 at 10:45 am
Igor Radovanovic
AlgoTrading101

The post “Python in Excel – PyXLL vs Microsoft” first appeared on AlgoTrading101 blog.

Excerpt

What is Python in Excel?

Python can be used in Excel to allow seamless integration of the Python programming language inside the Excel application. It provides many capabilities and improvements over what standard Excel offers.

Why should I use Python in Excel?

  • Python in Excel tools offer ease of extendability
  • Is easy to use
  • Is very powerful
  • Allows for easier explanation and usage by non-tech-savvy people
  • Many businesses still hold a lot of data and Excel and use it day-to-day

Why shouldn’t I use Python in Excel?

  • It constrains Python and the way you’re used to building Python features and apps
  • Might not be the best combination for the solution to your problem
  • If you’re good with Python and building projects, Excel is a nuisance

What tools can I use to have Python in Excel?

Python in Excel tools vary and the two most popular and maintained ones are Microsoft’s Python in Excel and PyXLL which is developed and maintained by Tony Roberts.

In this article, we will explore both of these solutions and compare them head to head over several facets such as:

  • Setup
  • Documentation
  • Ease of use
  • Performance
  • Extendability
  • Support

Although I will try to be as objective as possible, please ensure that you do your own research and choose the tool that fits your particular needs for your particular context.

What is PyXLL?

PyXLL is a Python Add-in for Microsoft Excel that is aimed at professionals and as a replacement for VBA. It is developed for better development experience and performance.

Website: PyXLL – The Python Excel Add-in

How to use PyXLL?

Here are some examples on how to use Python with PyXLL:

  1. PyXLL Introduction
  2. How Fast is Python in Excel?

How to set up PyXLL?

To set up PyXLL, we will need to have Python installed. I will create a new environment and execute the following commands:

$ pip install pyxll
$ pyxll install

If you don’t know what the above code mean, then check this video on installing Python and Python packages: Windows versionMac version.

This will take you through the installation steps. What is nice about PyXLL is that it offers you a free one-month trial without needing any credit card information. When you get to a prompt asking you for the license key say “n” if you want to use the trial.

If you want to get a license key, please navigate to the website pricing page and select the plan that works for you.

Now that we have PyXLL installed, you can check its status by running pyxll status. To configure your PyXLL, you can write pyxll configure.

In the folder you chose to install PyXLL into you will find some examples, alongside the PyXLL add-in and its configuration file. If the PyXLL add-in has been successfully installed, your Excel will load it automatically.

What is Microsoft Python in Excel?

Microsoft Python in Excel is a new feature in Excel that is developed by Microsoft which seamlessly introduces Python inside your Excel for the Microsoft 365 Insider program members. Its goal is to unlock all the capabilities of Python without the need to set it up yourself.

Website: Python in Excel – Python to Excel | Microsoft 365

How to set up Microsoft Python in Excel?

To set up Microsoft Python in Excel, you will need to have a subscription to the Microsoft Office 365 suite. They also offer a one-month free trial if you want to test it out first.

To get the subscription, navigate to the following URL and choose one of the two plans that fit your use case the most. I personally have the Microsoft 365 Family plan on a yearly subscription but any type of subscription will be suitable.

When you decide, click the “Buy Now” button and follow through with the payment process. After that, you will be redirected and will be able to install Microsoft Office 365 which will automatically validate your license through your Microsoft account.

When done, all we need to do is to open the Microsoft Office 365 app and start Excel. Then, click on the “Account” button in the lower left section of your screen. There, you will see some information about your account settings.

Press on the Microsoft 365 Insider and join it. The Beta channel is the one I have and it gives you access to beta features as they come out. Once you join, it will trigger the update of Excel that will grab these features.

Now, open a new sheet and write =PY in a cell. It will show a tooltip that you should click which will prompt you to try out Python in Excel. To execute the code in the cell press CTRL+Enter and add a new line by pressing Enter.

If everything has been set up correctly, you will see Python in your Excel menu bar.

Visit AlgoTrading101 for instructions on using Microsoft Python in Excel.

Join The Conversation

If you have a general question, it may already be covered in our FAQs. If you have an account-specific question or concern, please reach out to Client Services.

Leave a Reply

Disclosure: Interactive Brokers

Information posted on IBKR Campus that is provided by third-parties does NOT constitute a recommendation that you should contract for the services of that third party. Third-party participants who contribute to IBKR Campus are independent of Interactive Brokers and Interactive Brokers does not make any representations or warranties concerning the services offered, their past or future performance, or the accuracy of the information provided by the third party. Past performance is no guarantee of future results.

This material is from AlgoTrading101 and is being posted with its permission. The views expressed in this material are solely those of the author and/or AlgoTrading101 and Interactive Brokers is not endorsing or recommending any investment or trading discussed in the material. This material is not and should not be construed as an offer to buy or sell any security. It should not be construed as research or investment advice or a recommendation to buy, sell or hold any security or commodity. This material does not and is not intended to take into account the particular financial conditions, investment objectives or requirements of individual customers. Before acting on this material, you should consider whether it is suitable for your particular circumstances and, as necessary, seek professional advice.

IBKR Campus Newsletters

This website uses cookies to collect usage information in order to offer a better browsing experience. By browsing this site or by clicking on the "ACCEPT COOKIES" button you accept our Cookie Policy.