How much for Level II quotes on IB?

Discussion in 'Retail Brokers' started by Cruzan, Jul 9, 2007.

  1. Cruzan

    Cruzan

    It doesn't appear standard with a regular margin account but requires some kind of additional 'subscription.' Anyone know how much and if you have it whether you've been satisfied with how it works and found it worth the money?
     
  2. L2 for what? With the standard account comes L2 data for major index futures. For stocks I don't know but you can select any subscription you want and I am certain that the costs are minimal, accounting for exchange fees and such.
    I thought http://www.interactivebrokers.com/en/accounts/fees/marketData.php?ib_entity=uk was rather clear.

    Ursa..
     
  3. Cruzan

    Cruzan

    So according to the link if I want L2 for Nasdaq stocks and Open Book (which I guess is equiv. to L2) for NYSE, the nonpro fee is an additional $80/month. Can anyone confirm that's what they're paying and how well it works? Thanks.
     
  4. Bob111

    Bob111

    i don't have IB's L2,but i heard there is limitation like only 3 tickers for L2 nasdaq at same time.MB trading- data limit is 100 tickers and you can recieve L2 on all of them. free,with accounts over 25K
     
  5. If it says so it must be true. The fees for the most part represent the costs the actual exchange wants for the data, so it would be as costly at other providers as well. Remember IB is not a dataprovider; on the one hand it means they don't want to make a profit from the data-stuff, otoh they don't target the very demanding audience. But, their service is very acceptible and can compete with some of the specialized ones.
    I can't confirm whether L2 on Naz is limited to 3 quotes, because I don't have that subscription running. With the 'free' included index futures, it is limited to 3 concurrent quotes L2. I'm not sure if the limitation also goes for the non-default, explicit subscription.

    You can also try it out for yourself. Just tag the box in the subsciptions and try it out for a month.

    Ursa..