I am writing a Python script to connect to IB API. But I keep on getting following error. I have tried IB Gateway, IB TWS on both live and paper account (thus port 4001, 4002, 7496, 7497) on both windows and Ubuntu. I am sure I have set the configuration to enable API access and localhost access. What else could go wrong? Now port 4001 (Live Trading IB Gateway) is open. The port is accessible but API still timing out. Since you're using port 4001 (live trading), make sure in IB Gateway: 1. File → Global Configuration → API → Settings 2. Enable these settings: - ✅ Enable ActiveX and Socket Clients - Socket port: 4001 - ✅ Add 127.0.0.1 to Trusted IPs 3. Apply and restart IB Gateway The fact that the port is open but API times out indicates IB Gateway is running but the API layer isn't enabled or configured properly. Continue reading...
