Level 2 market data

As trading 212 doesnt provide this feature, but it is essential for the stock market, what platform does everyone use for L2 data?

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Generally you need to pay for this kind of information.

Might be useful to some.
You can sign up to Webull in the UK. You won’t be able to trade on the platform but by signing up, you get access to level2 market data (Nasdaq) for 3 months for free.

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Any updates on lvl2 data? I can pay $2 subscription for Nasdaq at webull, but it will be much easier to have all in one acc. Webull has great gui, and $2 is a trivial amount.

How do you use level 2 data?
I thought level 2 data without some advanced charting tools is not very useful.

Yes, it’s important for active traders (daytraders), but I like to see momentum. :smiley: Especially when gui is simple and easy to read as webull gui. T212, can you steal that widget from webull or robinhood. :smiley:

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I will bump this thread with an additional question. I apologize if the same question has already been answered. I have TD Ameritrade (thinkorswim) level 2 and Webull lvl 2, but when I place a buy or sell order on t212, I don’t see it there, neither on TD Ameritrade nor on Webull.

Check that the T212 order was TOTV. If its Otc then it was off books amongst T212 clients.

Could it happen that nasdaq fulfils lower orders, while ours on the OTC remain unfulfilled?

Of the last 20 orders, only one (VUSD) was via TOTV, all others are OTC.

the platform attempts to find you the best deal when you buy/sell your shares, and this can often mean that a transaction with another T212 client is the best available option for you at the time. when this happens your transaction will occur OTC and not show up on the exchange data. sometimes it’s big orders, sometimes small ones. I have had orders split into partial orders to guarantee that some of my shares are sold/bought at my desired price even if its not the whole order at once and when these involve fractionals they become OTC trades. As soon as fractional shares are involved, the transaction will occur on the OTC exclusively.

lower orders of whole shares happen to be rather easy to match so are usually handled ‘TOTV’ without much issue.

You can’t buy/sell fractional shares with limit order.

So lvl2 data is mostly useless for t212 traders.

I set a limit order for 100 shares, when volume was low I was seeing partial order notifications for 14.xxx shares, then 16.xxx shares etc. I do however use the app in beta so it’s not a standard I can apply to those who are using the stable release without asking someone for their experience.

the fractional limit orders is certainly on the way however.

I would say L2 data is still very useful for traders even if not all of your own transactions are appearing in the feed. the market is so much bigger than T212 after all.

Yes, in my case it often fills orders partially but that is quite common and acceptable.

I believe that otc mostly connects a large number of IKBR clients. The market is much bigger than IKBR, but lvl2 loses its meaning in some form.

I know that it can be hidden orders, and on liquid stocks like TSLA, AMZN, AAPL, etc … a lot of orders keep coming to every millisecond, but still, for example, I see that the bid is shallow down to eg 3274, I put the buy order there, times&sales are red, I see on the Webull that the orders are being fulfilled, candle at 15.36 (29.10) on the Webull says low 3273.32, on T212 3274.02, on 15.37 the Webull says 3273.53, T212 3274.02, and my order on $3274 remains unfulfilled. : D Ok, I blame myself for the penny-pinching, I could give a market order that would be filled at e.g. 3276, because of $ 2 or $ 6 on a $10k order I have to pay $ 300+ more if I want to add AMZN to my portfolio.