Getting Nasdaq TotalView Stand-Alone
Given that I am currently trading CFDs I don't have volume information, much less any sense of market depth. As I got lured into fast-paced day trading again, I began to feel the need for excellent market depth and time & sales data. (Ahh, memories of 2003 come flooding back, with $80,000 traded litterally in seconds at the flick of a button on my USB joystick.)
I found a supplier right here in Canada, AlphaTrade, which supplies the data and a decent Java client for $49/month. I'd still have to rely on my CFD broker for charting though. (Might as well, it's much more responsive than Java charting applications, none of which even come close to competing with TradeStation or even eSignal anyway.)
IMPORTANT: Posted positions for Exchange quotes (NASD, NASD ADF/INCA, AMEX, CINC or PAC) appear on the Level 2 display but because they are not official NASDAQ market participants, they are not included in Total Depth data.
I'm not too sure what to make of that information.
The sources I considered
Interactive Brokers USD$27.00/month
- Account minimum: USD$10,000
- Portable Java platform (newer versions huge/slow on my hardware :( )
- Charting: UI sluggish but features OK
- TotalView: to be tested (summary above the lists? speed? 4 at a time OK?)
- Fee: USD 10.00 / month inactivity + 17.00 / month exchanges
Questrade USD$40.00/month
- Account minimum: USD$1,000
- Charting: none worth mentioning
- TotalView only in "Pro" which my laptop can't run.
- Web version (Java) seems slow, ONLY ONE STOCK AT A TIME.
- Fee: $ 20.00 Level 1 + 20.00 Level 2
- Found out they're my best bet for a self-directed RRSP account though.
AlphaTrade E-Gate USD$49.00/month
- Charting: Untested, but Java does not inspire confidence.
- TotalView: Java, up to 12 simultaneous, easily toggle Level 2 / TotalView
- Fee: $27 base + $1 NYSE + $20 Nasdaq TotalView + $1 credit card fee / month
- 2009/04/12: Confirmed TotalView fee includes Level 2 data
eSignal USD$95.00/month
- Charting: on par
- TotalView: untested, but present
- Fee: $ 125 / month (annually 95) + 35-50 exchanges
- Half the price of TradeStation; I might as well go for the real thing...
TradeStation USD$249.00/month
- Charting: best of breed, unrivaled
- TotalView: untested, but present
- Fee: $ 249 / month + 35-50 exchanges