What are Level 2 Stock Quotes

Level 2 stock data is the most important tool you can have when buying or selling a stock. The Level 2 stock quotes show the full order book for a given stock. Level 2 stock software tool was originally for institutional traders and brokers. ADVFN levels the playing field by making this great tool available to all stock traders. Finally you can see what the banks and brokers have seen all along.

Before the internet revolution hit the stock market, trading was preserved only for a privileged group of financial professionals. But the advent of broadband, real-time data and trading platforms heralded a massive change to the market — more and more power was placed in the hands of private individual investors.

Knowledge is power and when it comes to the market, nothing can provide investors with more knowledge than Level 2 data.

With Level 2 you can see the orders in the market to buy and sell stock in a company. It also shows you the volume of shares each person wants, what price they want, and when the order was placed. These extra details give you a critical advantage versus the simple best bid or best ask available on the quote page.

By watching trades live, directly via our Level 2 data feed, investors now have access to an invaluable understanding of exactly what is going on in the market. Traders now have access to a view of all the pending buy and sell orders for a given stock. Supply and demand are of the core elements that move stock price and by showing you the market's pending buy and sell orders, a trader can see the given demand/supply of a stock at a given price.

Trying to trade without Level 2 data would be like trying to win the 2013 British Grand Prix in a car from 1923; frustrating, slow, and ultimately futile.

Market depth… level 2 data… order book… these are all different names you'll hear when it comes to level 2 data but they essentially all mean the same thing. When you have access to level 2 data, what you get is much better insight into the market because you have the ability to see the pending buy and sell orders for a stock plus other info on volume and price which is not visible with standard level 1 data.

Now we'll take a closer look at what these flashing lights and numbers mean. We're going to look through these one by one now so you can learn to figure out the info that’s in front of you which clearly can lead to you making better trading decisions. 

The video below is a tutorial on how to use level 2 on ADVFN - but if you haven't yet registered with us, click the link above where you can register for free.

Real Time Level 2 data give you the inside scoop on what others investors are buying and selling. Utilizing the latest internet technologies, the new ADVFN Level 2 is even faster than before. So you can get Level 2 at remarkable speeds, wherever you happen to be.  A free trial is available to all new members. Contact our customer support for a free trial. Also you can view our real-time data products page to see all the Level 2 packages available. We are anxiously waiting to hear from you.

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