L2 market depth nasdaq totaview

[JackSparrow]

Hi there. I trade US shares on the IG platform (not ideal I know, unless people have other suggestions for trading US shares without a US bank account).

I have L2 dealer and have subscribed to L2 info.

I'm aware even with this we don't get full market depth, probably why level 2 info is only $2.

Is it possible at all to pay the extra and get Nasdaq Total View which has the full market depth info?

[Caseynotes]

55 minutes ago, JackSparrow said:

Hi there. I trade US shares on the IG platform (not ideal I know, unless people have other suggestions for trading US shares without a US bank account).

I have L2 dealer and have subscribed to L2 info.

I'm aware even with this we don't get full market depth, probably why level 2 info is only $2.

Is it possible at all to pay the extra and get Nasdaq Total View which has the full market depth info?

Hi, this has come up before and the response from IG was that the costs were so high they did not see that there would be any demand. 

[JackSparrow]

doesn't make much sense though. they charge $15usd each trade, or $30usd for each buy sell and won't offer a $40usd p/m subscription?

another line they told me when the account was first setup was that there are heaps of 'dark' trades on the US exchanges so the market depth would cause more grief than anything.

cfd's wouldn't matter but with share trading when you're using depth along with candle formation it does help, at least volume on buy sell side. 

[dmedin]

You want to use the big boys' train set?  Good luck with that!

[JackSparrow]

1 minute ago, dmedin said:

You want to use the big boys' train set?  Good luck with that!

L2 given free by default in australia with commsec. 

[Caseynotes]

1 minute ago, JackSparrow said:

L2 given free by default in australia with commsec. 

I know some US traders who are paying $300 a day for connection, commissions and exchange fees. IG didn't actually say what the fees would be if they did offer them so I don't really know.

[dmedin]

5 minutes ago, Caseynotes said:

I know some US traders who are paying $300 a day for connection, commissions and exchange fees

What for, if all they need to do is read the candles on 5 minute charts? 🧐

[Caseynotes]

2 minutes ago, dmedin said:

What for, if all they need to do is read the candles on 5 minute charts? 🧐

but it's not about candles it's about levels.

 🤦‍♂️ how many times.

[JackSparrow]

5 minutes ago, dmedin said:

What for, if all they need to do is read the candles on 5 minute charts? 🧐

lol.

meh found alternative just signed up for nasdaq totalview via webull, sigh, another half monitor space. gone. 

12 minutes ago, Caseynotes said:

I know some US traders who are paying $300 a day for connection, commissions and exchange fees. IG didn't actually say what the fees would be if they did offer them so I don't really know.

normal trading commission shouldn't be part of it though.

exchange fees would be about 50usd, news bezinga 30usd, broker, trading software $400usd p/m. let's say $1000 usd p/m for the most extravagent package ex broker commissions would be about $30 p/d. They're trading 40 times a day??

[Caseynotes]

2 minutes ago, JackSparrow said:

lol.

meh found alternative just signed up for nasdaq totalview via webull, sigh, another half monitor space. gone. 

normal trading commission shouldn't be part of it though.

exchange fees would be about 50usd, news bezinga 30usd, broker, trading software $400usd p/m. let's say $1000 usd p/m for the most extravagent package ex broker commissions would be about $30 p/d. They're trading 40 times a day??

not 40 times a day but I do know they're not lying and I do know you get what you pay for  so good luck.

[JackSparrow]

sorry wasn't saying you're lying, just meant they probably included the commissions in that figure which would sound about right. 

there just seems to be lots of safe guards in regards to information and not providing too much to new retail traders. probably a good thing tbh. 

it's a shame the brokerage costs are so high in australia compared with the us. 

Edited May 1, 2020 by JackSparrow

[Caseynotes]

that's ok, let us know how you get on with the data provider, can't really conflict with IG's service  as they don't provide it 🙂

[JackSparrow]

hmmm yes i can probably see IG's perspective on why not to bother with L2 depth. i'm looking at theTSLA depth and time sales (yes, yes, TSLA), the things is being played like no tomorrow. pretty pointless for retail traders. nanosecond trades at $70k a pop. 

[pbs]

I'm a bit late to the party, but I'm using Nasdaq Bookviewer. Apparently there is a pro version, of that, I'm not sure what the difference is, but I have the 'non pro' version which is $15/month for Nasdaq L2, worth every penny imo.

If your doing more than several trades a day its a given having order depth. It's true what the other guy said about dark pools, but it give you an idea when there is real volume and it's shape. It's not the be and end all but I recommend it.

This provokes a question though, what is nasdaq totalview like? Is that the same or equivalent to nasdaq bookviewer? I've honestly no idea but looking at the PDF it look similar. If anyone knows or has any more detail that'd be great.

Best,
Adam

[Andreisky]

 

On 16/02/2021 at 18:33, pbs said:

I'm a bit late to the party, but I'm using Nasdaq Bookviewer. Apparently there is a pro version, of that, I'm not sure what the difference is, but I have the 'non pro' version which is $15/month for Nasdaq L2, worth every penny imo.

If your doing more than several trades a day its a given having order depth. It's true what the other guy said about dark pools, but it give you an idea when there is real volume and it's shape. It's not the be and end all but I recommend it.

This provokes a question though, what is nasdaq totalview like? Is that the same or equivalent to nasdaq bookviewer? I've honestly no idea but looking at the PDF it look similar. If anyone knows or has any more detail that'd be great.

Best,
Adam

Is the bookviewer subscription any good? From what I know they should be kinda similar. Nasdaq Full View gives a better depth but for someone who is not trading huge positions from what I saw they shoulf be quite equal. 

To answer your question Total View offers every single offer that exists and lists it for you to see...time and sales also. With totalview you will never be out of touch so to say...as long as you keep your eyes on the monitors:))

[KieranClaydonFrench]

Bit late to the party but currently looking for a L2 provider that covers the NASDAQ, from here in the UK.

NASDAQ Bookviewer or Total View?

[JackSparrow]

21 hours ago, KieranClaydonFrench said:

Bit late to the party but currently looking for a L2 provider that covers the NASDAQ, from here in the UK.

NASDAQ Bookviewer or Total View?

I wouldn't bother to be honest. There are so many 'dark trades' on the larger stocks and exchanges and everything is in 100 blocks so it's pretty much impossible to gauge anything much of use. On the smaller stocks maybe but even with the penny stocks there are always some shadowy plays. 

[AndaIG]

Hi @KieranClaydonFrench

Please see the following link for details of our L2 offering. 

https://www.ig.com/uk/trading-platforms/l2-dealer

Thanks

Anda