Hello, what is the cheapest level 2 broker that gives ECN access? I am generally going to base my choice on a broker according to this price. NobleTrading demands 150 dollars per month. TradeStation is 100 dollars. Etrade level 2 are free but i read some very negative comments about them. I found the canadian based TradeFreedom to want 50 dollars per month, and that is the cheapest for now (but i dont know if they give ECN access). I saw a few others but nobody falls below 100 dollars per month for level 2 access. So i was wondering what are your observations about this price issue in regards to the level 2 access with ECN?
Interactive Brokers has it. They just pass through whatever NASDAQ charges for the data. I think it's $20, but you can verify it on their list of data fees.
Hi traveler and thanks for the reply. I have only 10 000 dollars for investment. What would be the second best choice besides IB?
Its pointless to have level 2 or direct access if you only have $10,000. You wouldnt be able to day trade equities which what the level 2 and direct access are for.
MB trading? their L2 is pretty good one(better than IB's for example),free with 25K on account + they do have SDK for programmers no monthly inactivity fees, no data fees(exept for arca(but you have to pay for it separately in any other broker too)
you would violate PDT - pattern day trading rule http://www.sec.gov/answers/daytrading.htm you need min of 25k to trade u wll need to join a prop firm to trade under 25k. Incidentally, most of them have level 2 access and relatively cheap (cheaper then retail). gl
Thanks for the replies Bob and Gregory. MBT is really low-cost but I can't use them because my country is not in their list. I found Ameritrade, but i can't use them for the same reason. So far, Questrade for 20 dollars would be a cheap one too. And i'm not seeing negative comments about them. I continue looking for other good cheap brokers with that services.