We found 11 online brokers that are appropriate for Trading Level 2 Quote Investment Platforms.
When we trade, we need different tools and pieces of information to fully achieve a consensus on a given stock. One of those tools is the Level II quotes. These provide information about who is buying and selling, and where the stock is directed in the short term. You get to see which market maker is participating. This lets you to know who has an interest in the stock and who wants to sell.
A Level II quote will show you the name of the stock traded, the amount of shares traded (in multiples of 100), and the price per share traded. Basically, Level II quotes give you access to the book of NASDAQ, and to all bids and asks of other market makers. You get to know the size of all the positions trading a given stock.
There are 3 market makers that help the system to always be liquid. These are: the wholesalers, the computer order placing system, and the ECN. These market participants are denoted with a 4-letter code, such as GSCO (Goldman Sachs and Company). Next, we will explain the different types of market participants.
Market makers ensure that the market is always liquid. When nobody wants to sell or buy, they are there to provide such activities. They make sure that the market is not frozen. One of the most important market makers is 'the ax'. This controls the price of each stock. Usually, day traders make sure to trade with 'ax' because it has good quotes.
An ECN is a computer-based order placing system. Retail traders and institutional traders can rely on ECNs to execute their orders. Wholesalers usually work with online brokers. These big firms complete the orders of the online brokers, which include retail traders.
The information that you get via the Level II quotes is helpful to a day trader. You can see the type of traders who are exchanging this stock. Is there interest from retail traders? Is there interest from institutional traders? We can use ECNs to check for irregularities, such as when institutional buyers are slowly buying and building up their positions. These imply that buyouts or accumulations are happening.
By trading with the 'ax' market maker, there is always somebody to provide the market liquidity. We need to remember that retail traders are there for themselves. You can also observe the trades that take place in between the bid and ask price of a stock. These trades are usually done by large traders who are taking small losses to make sure they close the position before things start going bad.
With these pieces of information, we can sense the subtle moves of the market, and we can get a hint of where the market will be headed. We also need to remember that market makers use different tactics to hide their true intent and throw a curve ball for market participants.
Market makers would prefer to stay hidden in their intent, so they can maximize their returns. They can use some tricks to lure retail investors. They can hide their true order size by placing a multiple of smaller orders and only notifying when they get filled. This is done to unload a large order size without scaring retail traders. Just to make a comparison, if there is a resistance level where half a million shares are traded, retail investors would think that the price level is hard to beat, and would be scared away from investing in the stock. If they unload the position by 10,000 shares at a time, retail investors will see this price level as a simple resistance that can be overcome. So basically, by slowly unloading, market makers make sure to keep the investors in the game for as long as possible.
Market makers try to manipulate retail traders by changing their order size and time. For example, a market maker might put up a large offer to attract the interest of short sellers. As soon as they show interest, the market maker can pull the order and place a large bid. This forces the short traders to buy back their positions. So out of nowhere, a particular stock has buying interest from institutional investors and short sellers who were forced to buy back into the position.
ECNs are accessible to anyone. So, a market maker can place his orders via another ECN, this way it is difficult to keep track of the trading activity of a single market maker.
Level II quotes provide strong pieces of information, but can also give you fake information. You cannot take an investing decision solely based on the Level II quotes. It is best advised that such a tool be used hand-in-hand with other forms of analysis.
We've collected thousands of datapoints and written a guide to help you find the best Level 2 quotes for you. We hope this guide helps you find a reputable broker that matches what you need. We list the what we think are the best Level 2 Quote Investment Platforms below. You can go straight to the broker list here.
There are a number of important factors to consider when picking an online Level 2 Quote Investment Platforms trading brokerage.
Our team have listed brokers that match your criteria for you below. All brokerage data has been summarised into a comparison table. Scroll down.
We compare these features to make it easier for you to make a more informed choice.
Here are the top Level 2 Quote Investment Platforms.
Compare Level 2 Quote Investment Platforms min deposits, regulation, headquarters, benefits, funding methods and fees side by side.
All brokers below are Level 2 Quote Investment Platforms. Learn more about what they offer below.
You can scroll left and right on the comparison table below to see more Level 2 Quote Investment Platforms that accept Level 2 Quote Investment Platforms clients
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eToro
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IC Markets
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XTB
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AvaTrade
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FP Markets
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Trading212
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Plus500
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Pepperstone
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EasyMarkets
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XM
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FXPrimus
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Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID), Australian Securities and Investments Commission (ASIC) | Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego, Belize International Financial Services Commission (IFSC) under license number IFSC/60/413/TS/19, Polish Securities and Exchange Commission (KPWiG) | Central Bank of Ireland, Australian Securities and Investments Commission (ASIC), Financial Services Authority (FSA), South African Financial Sector Conduct Authority (FSCA), Financial Stability Board (FSB), Abu Dhabi Global Markets (ADGM), Financial Regulatory Services Authority (FRSA), British Virgin Islands Financial Services Commission (BVI) | Australian Securities and Investments Commission (ASIC), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Financial Supervision Commission (FSC) | Plus500UK Ltd authorized & regulated by the FCA (#509909), Plus500CY Ltd authorized & regulated by CySEC (#250/14), Plus500AU Pty Ltd (ACN 153301681), ASIC in Australia AFSL #417727, FMA in New Zealand, FSP #486026 and Authorised Financial Services Provider in South Africa FSP #47546 | Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC), Federal Financial Supervisory Authority (BaFin), Dubai Financial Services Authority (DFSA), Capital Markets Authority of Kenya (CMA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of the Bahamas (SCB) number SIA-F217 | Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | International Financial Services Commission (IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investments Commission (ASIC) | Cyprus Securities and Exchange Commission (CySEC), Markets In Financial Instruments Directive (MiFID) |
Min Deposit | 200 | 200 | No minimum deposit | 250 | 100 | 1 | 100 | 200 | 100 | 5 | 100 |
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Used By | 17,000,000+ | 180,000+ | 250,000+ | 200,000+ | 10,000+ | 14,000,000+ | 15,500+ | 10,000+ | 142,500+ | 70,000+ | 10,000+ |
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Platforms | Web Trader, Tablet & Mobile apps | MT4, MT5, Mirror Trader, ZuluTrade, Web Trader, cTrader, Mac | MT4, Mirror Trader, Web Trader, Tablet & Mobile apps | Web Trader, MT4, MT5, AvaTradeGo, AvaOptions, Mac, Mobile Apps, ZuluTrade, DupliTrade, MQL5 | MT4, MT5, IRESS, Mac, Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps | MT4, Web Trader, Tablet & Mobile apps | MT4, MT5, Mac, Web Trader, Tablet & Mobile apps | MT4, Mac, Mirror Trader, Web Trader, Tablet & Mobile apps |
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Learn More |
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Up with etoro |
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Up with icmarkets |
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Up with avatrade |
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Up with fpmarkets |
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Up with trading212 |
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Up with plus500 |
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Up with pepperstone |
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Up with easymarkets |
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Up with xm |
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Up with fxprimus |
Risk Warning | 67% of retail investor accounts lose money when trading CFDs with this provider. | Losses can exceed deposits | 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 72% of retail investor accounts lose money when trading CFDs with this provider | Losses can exceed deposits | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. | 76.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. | CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money | Your capital is at risk | Your capital is at risk | Losses can exceed deposits |
Demo |
eToro Demo |
IC Markets Demo |
XTB Demo |
AvaTrade Demo |
FP Markets Demo |
Trading 212 Demo |
Plus500 Demo |
Pepperstone Demo |
easyMarkets Demo |
XM Demo |
FXPrimus Demo |
Excluded Countries | IR, KP, BE, CA, JP, SY, TR, IL, BY, AL, MD, MK, RS, GN, CD, SD, ZW, ET, GH, TZ, LY, UG, ZM, BW, RW, TN, SO, NA, TG, SL, LR, GM, DJ, CI, PK, BN, TW, WS, NP, SG, VI, TM, TJ, UZ, LK, TT, HT, MM, BT, MH, MV, KZ, GD, FJ, BB, BM, BS, AG, AI, AW, LB, SV, US, PY, HN, GT, PR, NI, VG, AN, | AF, GN, SL, BW, IR, SY, MM, IQ, TG, KH, LS, YE, CI , LR, ZW, CU, LY, TZ, CG, ML, BO, LR, NE, AO, GM, NG, AG, GH, KR, KG, GN, SN, NA | US, IN, PK, BD, NG , ID, BE | BE, BR, KP, NZ, TR, US, CA, SG | US, JP, NZ | US | MY, BE, US, CA, CN, ID, PH, TG, NG, DO, MA, ZW, PR, TZ, TN, UG, BW, AO, AE | BR, KR, IR, IQ, SY, JP, US | US | US, CA, IL, KR, IR, MM, CU, SD, SY | AF, CI, CU, IQ, IR, LY, MM, KR, SD, PR, US, AU, SY, DZ, JP, EC. |
You can compare Level 2 Quote Investment Platforms ratings, min deposits what the the broker offers, funding methods, platforms, spread types, customer support options, regulation and account types side by side.
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We have listed top Level 2 Quote Investment Platforms below.