Interactive Brokers

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29 Dec, 2020 05:28 AM

Interactive brokers has support for "Quicken Direct Connect"(albeit it's not enabled by default, it can be activated in account settings). Would this be sufficient to create a connection with MoneyDance?

  1. 1 Posted by dwg on 29 Dec, 2020 06:45 AM

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    I'm fellow user.

    If it is really Direct Connect then Moneydance should be able to use it. The institutions known to support Direct connect and that Moneydance has existing connection information for can be found at:

    Quicken also supports Web Connect and Express Web connect but these are proprietary to Quicken, some organizations misname what they support. Direct Connect and Web Connect can look similar in some respects.

  2. 2 Posted by infinitekind on 29 Dec, 2020 06:50 AM

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    > If it is really Direct Connect then Moneydance should be able to use it.

    but where do I find the OFX URL, Institution ID and Institution Org necessary for connection?

    Also, the "advanced" connect screen in Moneydance is pretty explicit that one should use it only if explicitly instructed by support.

  3. 3 Posted by Diego on 15 Jan, 2021 05:16 PM

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    I also have an Interactive Brokers account. Does anybody know the OFX URL/settings or did anybody manage to make this work?

  4. 4 Posted by dwg on 15 Jan, 2021 08:01 PM

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    Each organisation that supports Direct Connect and hence OFX will have its own server settings, even if they use a service provider there is likely to be some differences. To support OFX means the institution must have the infrastructure that supports the service, there is no way of providing it just on the Moneydance side it is really a client/server application.

  5. 5 Posted by sportbiker on 26 Jan, 2021 07:16 PM

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    I just spend an hour on the phone with IB tech support. Turns out they do NOT support Direct Connect. They support Web Express (Express Web?) which they have mislabeled as Direct Connect.

  6. 6 Posted by dwg on 26 Jan, 2021 07:39 PM

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    Express Web Connect is proprietary to Quicken, it is an aggregation service that you give your usernames/passwords to Quicken and they download and store your transactions on their servers which you later download from.

    There are security and privacy issues with such services which is why Moneydance does not support or use any of them.

  7. 7 Posted by paulbc on 19 Feb, 2021 11:39 PM

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    I'm trying to connect to Interactive Brokers via OFX too.

    Some clues:
    FID 4705

    There's a discussion / screencap in there that suggest to me that maybe this should work?

    I have an account that I have enabled under Desktop Software / Quicken Direct Connect. Whatever I POST to the URL above, I always just get these error messages back though:

    <MESSAGE>There was a problem preparing your data. If the problem persists, please contact customer service.</MESSAGE>
    <MESSAGE>Invalid credentials, please review your Third-Party Services credentials in Account Management.</MESSAGE>

    I'm not sure exactly which combination of the OFX USERID / USERPASS / USERCRED1 / USERCRED2 / ACCESSTOKEN / APPKEY / AUTHTOKEN tags I should be populating with my Interactive Brokers "token" + "query id" (+ username/password).

    I've tried all the combinations I can think of, but open to suggestions... or maybe this really doesn't work.

  8. Support Staff 8 Posted by Ethan on 20 Feb, 2021 11:12 PM

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    As far as I can tell, that information is for setting up Express Web Connect. I'm not sure I see a reference to Direct Connect in there.

    Infinite Kind Support

  9. 9 Posted by paulbc on 21 Feb, 2021 12:46 AM

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    There's this discussion about someone having problems with, and later direct connect working. It is labeled as 'Quicken Direct Connect' in the IB site.

    Other anecdotes suggest that it doesn't work, and mislabeled on their account site. I don't actually have Quicken, so I can't tell, but the URL i mentioned seems to have some kind of OFX implementation.

  10. 10 Posted by dwg on 21 Feb, 2021 01:12 AM

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    With Direct Connect and Web Connect the underlying data is in the OFX format. It is unfortunately that OFX is taken to mean a number of things.

  11. System closed this discussion on 23 May, 2021 01:20 AM.

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