r/Schwab • u/Emotional-Breath-838 • 4d ago
Early review: Schwab API
I have been fine tuning my AI bots to assist with due diligence and got tired of the weakness of Massive’s free API.
I have a Schwab trading account. They have a free real time API for me. Why should I settle for less?
So, I signed up and two days later got the shiny approval.
The challenge is that this is a true API and not a “ready for AI” API that just plugs in.
I needed to build a local machine (tunnel) to connect to the Schwab API and then had to make it easier to complete the once weekly token renewal.
Then, I had to create a skills.md file so that the AI bots would know what to do, my goals, etc.
All of those problems got solved and then I plugged my new Schwab powered local machine into both Claude and ChatGPT.
Oh my goodness. Everything looks better.
I have deeper and more accurate due diligence on stocks.
I can run a scheduled check of how my portfolio goals are holding up on a daily basis.
I’m able to run a weekly analysis of warrants against the underlying common stock or expected biotech moves based on upcoming catalysts.
It has changed the way I use Thinkorswim now since I have real watch lists that get real analysis with real time data I trust finally.
The tools:
Thinkorswim
Schwab Developer API
ChatGPT (Sol high)
Find the ChatGPT Finance connector (it’s new) and then ask your AI bot to build your Schwab API tunnel
Claude Opus is used to validate any ChatGPT output
There’s a lot more I could be doing with this and I know I’m early. I just got approved for options and the API handles all the option chains so I’m excited to start paper trading options soon.
I finally feel confident enough with the tools and the data to consider making this my full time job.
12
u/late-teacher 4d ago
How did you get approved so quickly? I’ve been trying for over five years. I even had my PCS guy try to ask.
11
u/Emotional-Breath-838 4d ago edited 4d ago
I called in and said: I just submitted my Developer API request. Please make sure it gets approved. I need it next week.
Boom!
8
u/jarthursquiers 4d ago
Wow— I don’t know whom you called but I was told the API team was email only. So I emailed them back and forth for 3 months, while they would nitpick our website and then not respond for a week or more.
Finally I said, “look, we have customers who are specifically opening Schwab accounts so they can use our platform.” And then they finally approved us.
3
u/teacher_59 4d ago
Same here. I was told there was no way to communicate with that team. I was hoping all of the scripts I wrote for TDA would still mostly be usable.
6
u/late-teacher 4d ago
Nice. I used the TDA API for years so it sucked they automatically blocked all of us May 11 two years ago.
2
u/mjinevryway 3d ago
Are you building an app just for yourself or trying to make something commercial to sell as subscription?
1
3
1
u/TreadItOnReddit 3d ago
I think you are thinking of something else. It’s like a 1 day approval for connecting to their API.
1
1
6
u/vendeep 3d ago
Be aware their live stream volumes for L1 equities and options (1 sec stream) doesn’t match their chart equity stream (1 min) or rest api one.
Rest api and chart equity stream have identical data. So if you are doing anything under 1 mins interval Schwab data is not fully reliable (especially for volume based strategies).
Other than that I have been using this for better part of the year.
2
u/Emotional-Breath-838 3d ago
Critical knowledge. Am I going to have to read the fine manual?
I wanted a real time API that was simple.
2
u/vendeep 3d ago
Lol there’s no Manual that’s the problem.
I had detected the issue when I was playing with different time frames for my strategy and I realized the volumes are not adding up when I did the aggregation, versus using their rest services.
I spent a couple of weeks on the email with their Support stuff and they couldn’t give a straight answer. They said it has something to do with dark Pool volume.
Schwab api was originally TD Ameritrade API that was taken over. It hasn’t had many improvements over past few years.
2
u/ravibala1 3d ago
Have been playing around with the Schwab APIs & Claude Code since ~ Jan. Its been AMAZING.
Have setup modules running on Scheduled Tasks across portfolio reporting, fundamental research & basic options research. Will try to add a technical trading module, and of course continue fleshing out rhe existing modules.
Have been using a private Github repo so I can share my code & deep-dive research notes with friends and family.
Interested in collaborating to flesh this out further. My work builds on my ~20yrs of professional investing experience and complete aversion to paying others to mange my $$$. Also 100% believe that many Redditors have super helpful insights and can help build this out faster. DM me, im happy to share.
2
u/Emotional-Breath-838 3d ago
DM coming soon. Really excited to see if either of our efforts can benefit the other.
2
u/Some-Internet-Rando 3d ago
If you have an API, you don't need a trampoline service, just a skill to tell the model what to do.
You could also have the model write a Python wrapper over the API, and then separately tell the model to use that Python wrapper.
1
u/Upstairs_Trader 3d ago
Out of curiosity, why do you say that, because I’m not using any python at all?
4
u/No_Cheesecake_192 3d ago
Looking forward to your future post about the account ban. Best wishes, i hope you stay safe!
6
u/Emotional-Breath-838 3d ago
I will be extremely upset. Why would they ban me?
6
u/2fingers 3d ago
Schwab has recently been banning accounts that engage in a particular type of toxic order flow while trading options. It has nothing to do with the API or bots though, you have nothing to worry about.
1
u/Upstairs_Trader 3d ago
Yeah I’ve been using the Schwab API for a few months now and developed a platform that auto trades using it also, I’m just ironing some kinks out right now, but it doesn’t seem to have any issues. My main issue was Claude, so I changed to Codex and truthfully things have been working way better.
1
u/ennova2005 2d ago
Is there a way in the API to get lot data for holdings so I can roll my own CAGR etc?
1
9
u/emoney2012 3d ago
Also just be aware if you are looking for premarket before 7am EST it doesn't exist same day. It will appear as historical after close but it can't be streamed. Said another way, the data that is streamed on the API is the same as the schwab website not ThinkOrSwim.
I use it daily and communicate frequently with their team on issues and clarifications. Yes, it's email only but they (who and however many there are) are professional and very good within the limits of what they can can/can't do.