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What is level 2 quote?
Moomoo is one of the platforms that provide level 2 data. Now, let’s have a glance at this excellent service.
What is level 2 quotes?
Unlike level 1, which only provides inside or best bid and ask prices, level 2 provides users with depth of price information, including all the available prices that market makers and electronic communication networks (ECN) post. Without any fees, you can view real-time market bids and trades, up to 10 orders at the same time. Level 2 quote data satisfies active investors’ needs as it displays the supply and demand of the price levels beyond or outside of the national best bid offer (NBBO) price, providing our users a visual display of the price range and associated liquidity at each price level.
What benefits that level 2 quotes bring us?
Level 2 quotes bring us more benefits compared to level 1. The main one should be the access to a large amount of information related to the market, which is able to be used in different ways to gain profits. For instance, users can confirm liquidity volumes and order sizes for a stock traded on NASDAQ and use information regarding bid and ask orders to identify trends.
Apart from this, the additional information related to pricing action and market momentum give us ideas about the price direction and predict the market trends. This tool is a great helper for investors to enter or exit at the proper price level. For example, you can use it and estimate the limit sell price for a stock within a short time.
How to check out level 2 quotes on Moomoo?
Firstly, you should open an account. Then just click into the stock watched. It will present as the picture below. Please note that level 2 quotes data is only available during trading session.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more