I noticed with IB, you need to pay for "Monthly Market Data." For example, there's the "Toronto Stock Exchange Level I" which costs USD 9.50/month and "Toronto Stock Exchange Market by Price (Must subscribe to Toronto Stock Exchange Level I data)" which costs USD 24.00/month. What are these exactly and are they necessary to purchase stocks ?
I have the TSE data from IB for $9.50 a month. Without it, you won't be able to add stocks sold on the TSE into Trader Workstation. You don't have to have any other data than this.
I have a question. Can you buy the stock from TSX Venture Exchange with Toronto Stock Exchange Level I.?
You don't need to subscribe to the data to enter and execute orders. You can, indeed, add tickers for exchanges for which you do not subscribe to data. You simply won't see quotes for them.