Getting Nasdaq TotalView
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. Someday I might do it again...)
I have since decided to go for longer timeframes (visible in 15-minute bar charts) so I have not subscribed, but I found a supplier right here in Canada, AlphaTrade which could supply 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.)
Below are my raw notes on the matter from April 11, 2008.
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.
Interactive Brokers
- Account minimum: USD 10,000
- Portable Java platform (huge/slow on my laptop nowadays :( )
- Charting: to be tested (layout remembered? workspaces? linked charts?)
- 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
- Account minimum: USD 1,000
- Fee: $ 20.00 Level 1 + 20.00 Level 2
- Charting: none to speak of
- TotalView only in PRO which my laptop can't run.
- Web version (Java) seems slow, ONLY ONE STOCK AT A TIME.
- Accepts self-directed RRSP accounts.
AlphaTrade E-Gate
- Charting: none to speak of
- TotalView: Java, up to 12 simultaneous, easily toggle Level 2 / TotalView
- Fee: $ 27 / month + 21 exchanges
- 2008/04/11: e-mailed them about the Level II vs TotalView issue
- 2008/04/12: got response: TotalView fee includes Level 2 data
eSignal
- Charting: on par
- TotalView: untested, but present
- Fee: $ 125 / month (annually 95) + 35-50 exchanges
- Half the price of TradeStation, but... at that price level I might as well go for the real thing.
TradeStation
- Charting: best of breed, unrivaled
- TotalView: untested, but present
- Fee: $ 249 / month + 35-50 exchanges