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Fidelity Level 2 Quotes and Real Time Streaming Quotes (2019)


Fidelity level 2 quotes (NASDAQ TotalView) and real time streaming stock quotes fees, cost, and account requirements. Does Fidelity offer free NASDAQ level II quotes? How to access level 2 quotes on Active Trader Pro.



Fidelity Streaming Quotes


Investors at Fidelity receive free real-time streaming stock quotes, also called Level I quotes.


Fidelity Level II Quotes Cost


Level I quotes sometimes aren’t enough for active traders. If you need more than just a stock’s bid-ask spread, it’s time to look at Level II quotes. They provide more data on equities that trade on the Nasdaq. This information includes order sizes along with the identities of the market makers. And of course, bid-ask spreads are included with these data points.

To get static Level II quotes at Fidelity, customer must execute 72-119 trades per year. For streaming Level II quotes, the broker requires at least 120 trades per year.

To compare, TD Ameritrade offers free Level II quotes to all customers with no requirements. This policy is more generous than Schwab, who requires at least 30 stock or option trades every quarter to use Level II data. TradeStation charges $10 per month for the information, and if you’re a professional investor, the cost is $110. Neither Firstrade nor Chase provides Level II information at any price for any client. Ally Invest charges no fee, but requires at least 10 trades every month.


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How to Access Level II Quotes at Fidelity


To access NASDAQ TotalView Level II quotes at Fidelity, you’ll need to download and install the broker’s flagship trading system, Active Trader Pro (read review). Customers who place at least 36 trades in a twelve-month period automatically receive access to the desktop platform. If you don’t trade this often, just give Fidelity a call and a representative will activate the software for you. Unfortunately, the broker doesn’t provide Level II data on its website.

To get static Level 2 quotes, customer must execute 72-119 trades per year. For streaming level 2 quotes, Fidelity requires at least 120 trades per year.

Once you have Active Trader Pro up and running, click on ‘Trades & Orders’ in the top menu. Then select ‘Directed Trade & Extended Hours’ in the drop-down menu. Next enter a ticker symbol, and Level II data will automatically populate the window for the entered security.


Active Trader Pro level 2 quotes


By default, the color scheme for Level II quotes is blue. This can be changed by right-clicking on the data and selecting ‘Settings.’ Changing to ‘Industry’ will produce a color scheme of red, dark blue, light blue, yellow, and green.

The share amounts displayed are rounded to the nearest tens place. Most share amounts are shown in multiples of 100. The market makers shown include ARCA, NYSE, Nasdaq, BATY, EDGX, BATS, PHLX, MWSE, and BOSX.

On a recent trading day, Cemex, trading under the symbol CX, had a bid size of 28,900 shares come in at a price of $9.93 on the NYSE. An ask of just 300 shares at $9.94 was on the EDGX.


Other Market Data


Besides Level II quotes, Fidelity offers other vital information. On the right-hand side of the Level II data, Active Trader Pro shows the most recent trade price, with the exact number of shares traded, and the time the trade was executed. All of this information combined provides a good view of what the stock is doing in real time.

Streaming news is provided at no cost. Real-time quotes are free of charge. Streaming quotes at Fidelity are free as well. With a $0 stock commission, the broker provides a good value.


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Is Fidelity Too Expensive Broker?


Fidelity Investments is one of the giants in the online brokerage and financial services businesses. With more than $2 trillion dollars under management, Fidelity is the broker of choice for many individual investors. Here's how Fidelity's commissions and fees compare with six of its leading competitors: Firstrade, Ally Invest, TD Ameritrade, E*Trade, Charles Schwab, and Vanguard. We'll call this comparison group the Big Six.


Fidelity Commissions Comparison


Fidelity charges $0 per trade for stocks and ETFs. Vanguard has an introductory commission rate for new accounts of $7 for the first 25 trades, then $20 after that, but for this article, we'll assume all accounts are new and go with $7 for Vanguard. Ally Invest and the other brokers are at $0.

Fidelity, Firstrade, Ally, TD Ameritrade, Schwab, and Etrade offer all ETFs for no commission. Vanguard offers smaller amount of about 1,800 ETFs with no commission.

Fidelity, TD Ameritrade, Schwab, and Etrade options commissions are beat by Ally Invest who charges 50 cents per contract. Ally is defeated by Firstrade that charges nothing.

An interesting note about Fidelity that may make it a better choice for some options traders is its commissions on options priced at $0.65 or less. Buy-to-close orders of $0.65 to $0.11 don't incur per-contract fees, and buy-to-close orders of $0.10 or less are free. This may be of particular interest for investors who regularly sell out-of-the-money options for income and wish to minimize the risk of holding a volatile position close to expiration.

Mutual fund commissions at Fidelity lag the Big Six. Only Schwab charges more to purchase a mutual fund than does Fidelity. Fidelity and Schwab don't charge a commission to sell. Other brokers are all much more competitive, with Ally Invest charging only $9.95 per trade rate, and Firstrade being a clear winner with $0 commission.


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