ib_console

TL;DR: ib_console is a high-leverage CLI for Interactive Brokers users who need multi-asset access from a single terminal workflow. It is most valuable when combined with strict execution guardrails, pre-trade checklists, and an AI agent that can standardize analysis across asset classes.

What Makes ib_console Different

Most broker tools focus on one domain. ib_console plugs into IBKR’s broad market coverage, which makes it useful for traders who operate across:

• US and global equities
• Listed options
• Futures
• FX pairs

This matters because portfolio risk often spans instruments. A terminal workflow can help you evaluate and manage those interactions consistently.

Ideal Use Cases

ib_console is strong for:

1. Cross-asset position monitoring
2. Fast quote and chain checks before execution
3. Rule-based order submission from terminal playbooks
4. Agent-assisted workflow orchestration across equity/options/futures/FX

It is less ideal for purely visual discretionary charting workflows.

Setup Checklist

1) Install

pip install ib_console

2) Start connectivity layer

You typically need IB Gateway or Trader Workstation running and reachable.

3) Verify basic commands

Before trading, verify quotes, positions, and account retrieval work.

4) Use paper/small-size environment first

Validate the full flow with minimal risk before scaling.

High-Value Workflow Commands

Command names can vary by version, but these patterns are typical:

# Connect
ib_console connect --port 4001

# Quote check
ib_console quote AAPL

# Positions overview
ib_console positions

# Options exploration
ib_console options AAPL --expiry 2026-03

# Example order shape
ib_console order buy AAPL --qty 10 --type limit --price 175.50

Use --help on each subcommand in your installed version.

Operator Playbook: Safer Multi-Asset Execution

Before placing any order, require your agent to return:

• instrument and venue
• size and notional exposure
• worst-case loss estimate
• correlation impact versus existing positions
• invalidation trigger

Example prompt:

Prepare an execution plan for AAPL with:
1) quote context
2) current portfolio exposure impact
3) max-loss estimate at my intended size
4) alternative hedge if trade moves against me
Do not execute unless I reply with EXECUTE.

This keeps the human in control while still benefiting from automation.

Why Multi-Asset Access Is Powerful

With one terminal session, you can:

• Identify equity exposure concentration
• Hedge with options where appropriate
• Use futures or FX to manage macro/currency risk
• Re-check net exposure after each planned action

The value is not just speed. It is coherent risk context.

Failure Modes and Controls

Failure Mode	Why It Happens	Control
Wrong contract/expiry selection	options/futures complexity	force agent to echo full contract specs before submit
Overexposure across correlated positions	siloed decisions	run portfolio-level exposure check pre-trade
Execution without clear stop logic	process gap	require invalidation + contingency plan in every order ticket
Connectivity or gateway mismatch	environment setup drift	verify connection health before market session

Who Should Use ib_console

• Multi-asset discretionary traders
• Portfolio managers with cross-market exposures
• AI-assisted operators who value explicit command logs
• Advanced users moving from GUI-heavy workflows to terminal-first operations

Related Resources

• tastytrade-cli for options-centric workflows
• Alpaca MCP Server for typed MCP-based operations
• CLI vs MCP: When to Use Which

Last verified: February 2026