Hello. The idea is to day trade US stocks and need level 2 data as part of my tools. Just starting out so do not have loads of cash for high fees etc. and don't necessarily need something too deep with all the bells & whistles at this stage. As usual, nothing is straight forward and simple to understand when it comes to Interactive Brokers (IB) and trying to get clarity from the support/customer service is in most cases a waste of time. So, I wondered whether someone that understands their data subscription offers for level 2 data could assist me please. Below is an image of the options available on IB's level 2 data subscription page. Like already stated, don't want to spend too much on level 2 data (already paying $25/month for real-time data streaming for stock and option quotes) and so can't afford the more expensive options or going for more than one option. So, will I be able to get by with the "NASDAQ BX TotalView" option for $3.50/month? Thank you.
No, individual books are useless by themselves. If you want the whole picture, you need all of them. I use ThinkOrSwim which has free data. It doesn't have full books, but it has all top of books which should be enough unless your trading requires otherwise. From IB, I only get Tapes A,B, and C.
It's the level 1, you will see it on IB subscription selections. I believe IEX level2 is free, so you should be able to see it, check with IB. But it's useless for day trading.