Charles Schwab Level 2 Cost

Charles Schwab Level 2 Quotes and Real Time Streaming Quotes (2022)

Charles Schwab level 2 quotes (NASDAQ TotalView) data and real time streaming stock quotes fees, cost, and account requirements. Does Charles Schwab offer free NASDAQ level II quotes? How to access level 2 quotes on StreetSmart Edge.

Charles Schwab Real Time Quotes

Most brokers offer Level I (Real Time) quotes for free. These provide the current bid-ask spreads on equities that trade on Nasdaq.

At Charles Schwab, real time streaming stock quotes are available on Trade Source tool and on StreetSmart Edge trading platform. Charles Schwab mobile app does not include real-time streaming quotes.

Charles Schwab Level II Quotes Cost

Some investors, such as day traders, will need more data than Level I real time streaming stock quotes. That’s why Level II quotes were created. They give more information. NASDAQ TotalView Level II quotes show who the market makers are for a particular stock, and how large or small an order size is.

In order to qualify for Level II quotes, traders at Schwab must execute 30 or more commissionable equity or option trades per quarter. Once you reach this trading level, be sure to contact Schwab to request the service be enabled on your account. Customers who don’t meet this trading minimum qualify for something called Market Depth on the broker’s advanced desktop platform, StreetSmart Edge (read review).

Schwab’s trading minimum for Level II data is more stringent than what some brokers require. TD Ameritrade, for example, provides Level II quotes without any account minimums, and there is no charge for the service. Schwab doesn’t charge anything. It only imposes the trading requirement.

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How to Access Level II Quotes at Charles Schwab

Market Depth is similar to Level II, except that Market Depth only shows data from the NYSE ArcaBook and NBBO (National Best Bid and Offer) figures. Level II quotes show more market makers than these. Because StreetSmart Edge is free to use by all traders, Market Depth is a good place to start to get an idea of how Level II quotes are displayed, and how to use the data.

Other brokerage houses have worse policies than Schwab. At TradeStation, non-professional investors must pay $10 every month for Level II data. Professional traders pay a rather expensive $110 monthly for the same information. Chase and Firstrade do not provide Level II data at any price for any trader. Ally Invest requires at least 10 trades every month for Level II information, but doesn’t charge any fee. See all broker Level 2 quotes offers »

Other Market Data

Finding Market Depth on StreetSmart Edge is fairly straightforward. Just go to the ‘Quotes’ tab on the platform. Enter a ticker symbol, and then click on the ‘Market Depth’ tab underneath the order ticket. Here, several rows of prices will be shown. These are bid and ask prices. By default, they are sorted by price; but they can also be sorted by time entered.

Market Depth is customizable. Just right-click on the information and choose ‘Market Depth Settings.’ Bid and ask columns can be modified. Colors of text and rows can be adjusted. Quotes can be shown in multiples of 100, or as actual values. There is also an option for prices to be displayed during extended hours.

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Charles Schwab Overview

Investors will find a wide variety of financial products and services at Charles Schwab. With good educational tools and 24/7 customer service, Schwab seems like a good place to start. So, is Charles Schwab a good broker for investors? The following article will provide the answer.

Education for Investors

Schwab customers can access a learning center on the broker's website. There are articles and videos on important investment topics. Investors can enroll in live on-line webinars. Schwab also conducts in-person seminars at its many local branches. The firm also has a discussion forum on its website, where users can ask questions. However, it doesn't have a lot of traffic.

Investors looking for trading advice on individual securities will find third-party reports at Schwab free of charge. Traders can access reports from Credit Suisse, Morningstar, Thomson Reuters, S&P Capital IQ, and others. Also available are the very helpful Schwab Equity Ratings, which analyze 3,000 stocks and give them an A, B, C, D, or F grade. Schwab also gives its clients free report cards on mutual funds. The wide selection of free reports will benefit many beginners who want assistance to make trading decisions.

Schwab provides useful educational information and research tools for fixed-income offerings. These products have a more stable price, which might be desirable for beginning investors who aren’t ready yet for the higher volatility of stocks.

Customer Support

Investors at Schwab can contact customer service representatives by phone, fax, e-mail, or an on-line chat system. Phone reps are available around the clock. Some hours of the day, Chinese language service is also available. The customer support staff at Schwab are usually well-trained and very knowledgeable. They should be valuable for novice investors.

The broker also operates a large nationwide network of branches. Currently, there are more than 325 brick-and-mortar locations. Local branches could come in handy for beginners who want some personal guidance.

About the Author
Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for, Chad can usually be found managing his portfolio or building a new home computer.