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Absolutely not. I'd pay $40/day if it could make me a better trader :-) When I started trading full time over 5 years ago, I spared no expense. I subscribed to everything. Had every tool I thought would be useful. At the beginning, I thought these expenses would be immaterial to the...

Market depth data is not free. Even if you meet the 5,000 share/month requirement for the free platform.

I just checked out Lightspeed and they seem to have pretty good rates and I didn't see anything about a platform fee. Sounded really good until I checked out their fees for market data: $65/month for NYSE Openbook!!! Wow! ESignal wants $15/month, but to get any kind of market depth info...

You are correct, kind of! API can be your platform and include charts. It can also include data too! For example, Ninja Trader is just a charting platform. It can use your IB account to get it's data feed or you can subscribe to another data feed. E-signal on the other hand provides the...

No. You don't need a separate API. You can just place trades directly from the IB platform and get $.005/share pricing (200 shares is $1). You do need to use their smart routing, which means you let IB route and fill your order rather than you routing it to a specific exchange or ECN...

What do you trade and what will you want to trade in the future? Stocks only? And even if you daytrade stocks only, you probably want to be able to look at the futures in various exchanges. IB is one of the best in trade execution and low fees. But their platform is way sub-par, specially...

NY0BScalper, thanks for the explanation. It does appear all three are necessary for my purposes. I just wasn't sure of the potential overlaps. Thanks again!

I have just changed platforms and gone back to visiting my subscriptions page. I do daytrade when the opportunity is there and would like to view market depth. But I'm not sure if all three are necessary: Nasdaq TotalView NYSE Open Book ArcaBook All of the above provide market depth...