IB Level 2 Fee

S

Spark

IB Charges $79 to Access Nasdaq Level 2. Most other firms charges between $10 to $30. Can anyone tell what is special about the the Level 2 provided by IB to justify higher fee? More complete list? Handy? Multiple Level 2? In real tick's Level2, one can even see market depth and market makers in the NYSE listed stocks but not in datek level 2. What additional features IB Level 2 has that are not available in other Level 2 ? Thanks.
 
RealTick's Level II is provided for $50 more than the RT Pro. They have 3 levels Analyst (150), Pro (200), Pro Plus (250).

What I don't understand is why IB insists on charging for exchange data. I use IB as an execution system and not for data/charting. Yet I am charged for quotes twice. Once with IB and again with RT. Why should clients pay twice for the same thing?!?

This is simply crazy. Also IB will not let you transmit orders to an exchange to which you have not subscribed for quotes. This is a made up rule to force clients to pay for fees and I find that an offensive action. I think denying your clients access to an exchange just so they pay your for quotes is against the law. What is this, the cosanostra?

http://www.elitetrader.com/vb/showthread.php?s=&threadid=4857&perpage=6&pagenumber=5
 
I am not talking about trading platform but individual component. I know Real tick is $260 for pro version and $10 level 2 fee is included in it. Datek Charges $10, money net charges $29 for level 2.
 
IB charges the Level 2 fee to help offset the cheap commissions they charge. Still not a bad price in comparison to alot of other brokers.:)
 
Babak has a point here.Nasdaq fee is 10 bucks. As far as I am concerned, Level 2 is almost worthless now . I would advise against paying more than 30-40 bucks for it as providers still charge much more if you want the gimmick in addition to charting, you might not even need it .
 
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