{"id":193978,"date":"2023-07-25T14:36:59","date_gmt":"2023-07-25T18:36:59","guid":{"rendered":"https:\/\/ibkrcampus.com\/?post_type=trading-lessons&#038;p=193978"},"modified":"2023-07-25T14:37:01","modified_gmt":"2023-07-25T18:37:01","slug":"financial-advisor-order-placement-management","status":"publish","type":"trading-lessons","link":"https:\/\/www.interactivebrokers.com\/campus\/trading-lessons\/financial-advisor-order-placement-management\/","title":{"rendered":"Financial Advisor &#8211; Order Placement &amp; Management"},"content":{"rendered":"\n<p>Hello, and welcome to this lesson on the Interactive Brokers Client Portal API. In this lesson, we will be discussing how to place orders, and how to view active orders and how to request executions as a financial advisor.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Creating an Allocation Profile<\/strong><\/h4>\n\n\n\n<p>To begin, we need to address how allocation group management works in the Client Portal API at this time. In order to create or make any modifications to existing Allocation groups, this must be done through the Trader Workstation. The same names and allocations are used by the CPAPI as it is in the Trader Workstation, so there is no unique process needed for making these available for API use.<\/p>\n\n\n\n<p>Assuming we have created our allocation groups, we can move over to building our request. We want to begin by querying the iserver\/accounts endpoint. This will return a list of all connected Accounts, All Allocation Group names, and will also reference the default \u201cAll\u201d allocation group.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Placing an Order<\/strong><\/h4>\n\n\n\n<p>Now that we can find the exact groups we are working with, let\u2019s start by placing a few orders. To begin, we can place an order for our allocation group, video_group. This group includes all subaccounts for to the Financial Advisor.<\/p>\n\n\n\n<p>To begin, we will use a structure similar to what was set in lesson 5 and referencing our required information. In this example, I will make a limit buy for 100 AAPL stock with a limit price of 190. Now this is the point in which we can start making modifications unique for Financial Advisors.<\/p>\n\n\n\n<p>Our standard endpoint is iserver\/account\/{accountId}\/orders for a specific account. But in our case, we can simply modify the account ID field to match our allocation group. So I will set the value of \u201cacctId\u201d to \u201cvideo_group\u201d to match our intended allocation group. &nbsp;Now if we look at the response message, we should see an order id, our order&nbsp; status, and \u201cencrypt_message\u201d:\u201d1\u201d. This is a typical sign of a successful order placement.<\/p>\n\n\n\n<p>As another example of FA order placement, we can tweak our current order, but instead of using the allocation group name, I can instead specify one of my subaccounts, like DU74649. When I place an order with this assigned, I will trigger an order for just this subaccount, but no other subaccount will be affected. We can see the response message, order id, our order status, once again.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Requesting live orders<\/strong><\/h4>\n\n\n\n<p>Now that we have a few orders on the books, we can get a better idea of how to view them after the fact by changing my active account.&nbsp; Using our standard framework, I will set my endpoint variable to \u2018iserver\/account\u2019. Then I will set my \u2018acct_body\u2019 variable to an array. We can create the \u201cacctId\u201d tag and set it equal to our subaccount\u2019s account ID. Sending out this request we can see a 200 OK response with the body tags of \u201cset\u201d to true, and an indicator that \u201cacctId\u201d is set to our specified account.<\/p>\n\n\n\n<p>After setting the account, we just need to make a GET request to iserver\/account\/orders, as we have done in our prior tutorial, and we will see all live traded orders this session for the account. Here I can see my latest AAPL order, how much has been filled, my limit price set, and so on.&nbsp; And while this is just one example of using the iserver\/account endpoint to view details, you will need to use this methodology for many other similar endpoints.<\/p>\n\n\n\n<p>You may have noticed that our \/orders request only showed one order placed to this individual. But we did not see any information on the original order placed to the video_group allocation group. In order to find these values, you must query them separately. Similar to the process we just made to view the individual account\u2019s orders, we can use our iserver\/account endpoint to look at the video_group orders as well. After calling the account endpoint, then requerying the \/orders endpoint, we can see our other order.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><strong>Requesting Portfolio Information<\/strong><\/h4>\n\n\n\n<p>At this point, we placed an order to a subaccount and a group and then review each of their live orders. The next logical step would be to review our portfolio data.&nbsp; When we use a GET request to the portfolio\/{acctId}\/positions\/0 endpoint. This will pull data for a single account only. Unlike other endpoints, this only functions on an individual level. And the reason for this is because each account could have largely different position quantities, so we can not use a generic allocation group as we had before.<\/p>\n\n\n\n<p>Thank you for watching this lesson on Financial Advisor Management in the Client Portal API. If you found this lesson helpful, please check out our other lessons in the Client Portal API tutorial series.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-code-snippet-accounts-py\">Code Snippet &#8211; <strong>accounts.py<\/strong><\/h4>\n\n\n\n<pre class=\"EnlighterJSRAW\" data-enlighter-language=\"python\" data-enlighter-theme=\"\" data-enlighter-highlight=\"\" data-enlighter-linenumbers=\"\" data-enlighter-lineoffset=\"\" data-enlighter-title=\"\" data-enlighter-group=\"\">import requests\nimport json\n\n# Disable SSL Warnings\nimport urllib3\nurllib3.disable_warnings(urllib3.exceptions.InsecureRequestWarning)\n\ndef reqAccounts():\n    base_url = \"https:\/\/localhost:5000\/v1\/api\/\"\n    endpoint = \"iserver\/accounts\"\n\n    accts_req = requests.get(url=base_url+endpoint, verify=False)\n    accts_json = json.dumps(accts_req.json(), indent=2)\n\n    print(accts_req)\n    print(accts_json)\n\nif __name__ == \"__main__\":\n    reqAccounts()<\/pre>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-code-snippet-liveorder-fa-py\">Code Snippet &#8211; <strong>liveOrder-FA.py<\/strong><\/h4>\n\n\n\n<pre class=\"EnlighterJSRAW\" data-enlighter-language=\"python\" data-enlighter-theme=\"\" data-enlighter-highlight=\"\" data-enlighter-linenumbers=\"\" data-enlighter-lineoffset=\"\" data-enlighter-title=\"\" data-enlighter-group=\"\">import requests\nimport json\nimport urllib3\n\n# Ignore insecure error messages\nurllib3.disable_warnings(urllib3.exceptions.InsecureRequestWarning)\n\ndef orderRequest():\n  \n    base_url = \"https:\/\/localhost:5000\/v1\/api\/\"\n    endpoint = \"iserver\/account\/orders\"\n    \n    order_req = requests.get(url=base_url+endpoint, verify=False)\n    order_json = json.dumps(order_req.json(), indent=2)\n\n    print(order_req.status_code)\n    print(order_json)\n\nif __name__ == \"__main__\":\n    orderRequest()<\/pre>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-code-snippet-placeorder-fa-py\">Code Snippet &#8211; <strong>placeOrder-FA.py<\/strong><\/h4>\n\n\n\n<pre class=\"EnlighterJSRAW\" data-enlighter-language=\"python\" data-enlighter-theme=\"\" data-enlighter-highlight=\"\" data-enlighter-linenumbers=\"\" data-enlighter-lineoffset=\"\" data-enlighter-title=\"\" data-enlighter-group=\"\">import requests\nimport json\nimport urllib3\n\n# Ignore insecure error messages\nurllib3.disable_warnings(urllib3.exceptions.InsecureRequestWarning)\n\ndef orderRequest():\n  \n    base_url = \"https:\/\/localhost:5000\/v1\/api\/\"\n    endpoint = \"iserver\/account\/DU74649\/orders\"\n\n    json_body = {\n        \"orders\": [{\n            \"conid\": 265598,\n            \"orderType\": \"LMT\",\n            \"price\":190,\n            \"side\": \"BUY\",\n            \"tif\": \"DAY\",\n            \"quantity\": 100\n        }]\n    }\n    \n    \n    order_req = requests.post(url=base_url+endpoint, verify=False, json=json_body)\n    order_json = json.dumps(order_req.json(), indent=2)\n\n    print(order_req.status_code)\n    print(order_json)\n\nif __name__ == \"__main__\":\n    orderRequest()<\/pre>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-code-snippet-positions-fa-py\">Code Snippet &#8211; <strong>positions-FA.py<\/strong><\/h4>\n\n\n\n<pre class=\"EnlighterJSRAW\" data-enlighter-language=\"python\" data-enlighter-theme=\"\" data-enlighter-highlight=\"\" data-enlighter-linenumbers=\"\" data-enlighter-lineoffset=\"\" data-enlighter-title=\"\" data-enlighter-group=\"\">import requests\nimport json\nimport urllib3\n\n# Ignore insecure error messages\nurllib3.disable_warnings(urllib3.exceptions.InsecureRequestWarning)\n\ndef acctPos():\n  \n    base_url = \"https:\/\/localhost:5000\/v1\/api\/\"\n    endpoint = \"portfolio\/DU74649\/positions\/0\"\n    \n    pos_req = requests.get(url=base_url+endpoint, verify=False)\n    pos_json = json.dumps(pos_req.json(), indent=2)\n\n    print(pos_req.status_code)\n    print(pos_json)\n\nif __name__ == \"__main__\":\n    acctPos()<\/pre>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-code-snippet-switchaccount-py\">Code Snippet &#8211; <strong>switchAccount.py<\/strong><\/h4>\n\n\n\n<pre class=\"EnlighterJSRAW\" data-enlighter-language=\"python\" data-enlighter-theme=\"\" data-enlighter-highlight=\"\" data-enlighter-linenumbers=\"\" data-enlighter-lineoffset=\"\" data-enlighter-title=\"\" data-enlighter-group=\"\">import requests\nimport json\n\n# Disable SSL Warnings\nimport urllib3\nurllib3.disable_warnings(urllib3.exceptions.InsecureRequestWarning)\n\ndef switchAccount():\n    base_url = \"https:\/\/localhost:5000\/v1\/api\/\"\n    endpoint = \"iserver\/account\"\n\n    acct_body = {\n        \"acctId\":\"video_group\"\n    }\n\n    md_req = requests.post(url=base_url+endpoint, verify=False, json=acct_body)\n    md_json = json.dumps(md_req.json(), indent=2)\n\n    print(md_req)\n    print(md_json)\n\nif __name__ == \"__main__\":\n    switchAccount()<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>This lesson discusses the fundamentals mentioned in Lesson 5 &#038; 7 and extrapolates on them for use by Financial Advisors. We discuss how order allocations are set, how orders are placed, and how a Financial Advisor may review their sub-accounts&#8217; information.<\/p>\n","protected":false},"author":850,"featured_media":193919,"parent":0,"comment_status":"open","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"contributors-categories":[13576],"traders-academy":[13126,13128,13132],"class_list":{"0":"post-193978","1":"trading-lessons","2":"type-trading-lessons","3":"status-publish","4":"has-post-thumbnail","6":"contributors-categories-interactive-brokers","7":"traders-academy-intermediate-trading","8":"traders-academy-level","9":"traders-academy-trading-lesson"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Archives | Traders&#039; Academy | IBKR Campus<\/title>\n<meta name=\"description\" content=\"This lesson discusses the fundamentals mentioned in Lesson 5 &amp; 7 and extrapolates on them for use by Financial Advisors. We discuss how order...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/trading-lessons\/193978\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Financial Advisor - Order Placement &amp; Management | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"This lesson discusses the fundamentals mentioned in Lesson 5 &amp; 7 and extrapolates on them for use by Financial Advisors. 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