TD Ameritrade 300

TD Ameritrade Level 2 Quotes


TD Ameritrade\thinkorswim level 2 quotes fees, cost, account requirements. Does TD Ameritrade offer free NASDAQ level II quotes? How to access level 2 quotes on thinkorswim and Trade Architect.



Level II Quotes at TD Ameritrade


Sometimes Level I quotes on Nasdaq stocks just aren’t enough. If you’re day trading, for example, you need more information than just the current bid-ask spread. That’s where level II quotes come in handy. They provide more information than Level I quotes. Level II quotes also tell you who the market makers are for a given security, and what the order sizes are.

TD Ameritrade offers Level II quotes free of charge to both professional and non-professional traders. This is a very generous policy. Not all brokers offer Level II quotes at no cost. For example, TradeStation charges $10 per month for Level II quotes for non-professionals, while professional traders must pay a very steep $110 per month for the same data.

TradeStation’s fee include Level I quotes. TD Ameritrade charges professional clients $22 per month for this information, although non-professionals get the data for free.


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How to Access Level II Quotes at TD Ameritrade


Finding Level II quotes on TD Ameritrade’s website is fairly simple. You first must be subscribed to the appropriate market data, though. Clients that receive Level II data for free must also subscribe. Just go to ‘My Profile’ under the ‘Client Services’ tab and click on ‘Subscriptions.’ Here you can sign up for the data.

Once you have subscribed, go to the Positions page and hover over a ticker symbol. You can also go to a watch list and do the same. A pop-up window will appear showing ‘Additional actions.’ Select this and you’ll see the option for Level II quotes. Choosing this will produce a small pop-up window with bid and ask prices with share amounts from various market makers. A Level I quote is shown at the top of this window along with the day’s graph.


Trade Architect Level II Quotes


In the broker’s basic platform, Trade Architect, Level II quotes appear on the right-hand side of the screen. Just look for the ‘Level II’ tab. On TD Ameritrade’s basic mobile app, there is a top menu with Level II as one of the options. You will have to scroll the menu to the right to find it. The menu starts with ‘Overview’ on the left-hand side.


thinkorswim Level II Quotes


Finding Level II quotes on the company’s advanced desktop platform, thinkorswim, is a little more difficult because the software has more information on it. Go to the ‘Trade’ tab and then find ‘Trade Grid’ underneath. Here, type in a ticker symbol and the thinkorswim Level II info will show up. The window the info is displayed in may be difficult to resize. The broker’s mobile app provides the best presentation for Level II data, with bids and asks right next to each other, with the lowest spread at the top and the widest spread at the bottom.


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TD Ameritrade also offers streaming news, and OPRA, AMEX, and NYSE quotes free for all non-professional traders. However, professional accounts must pay $99 for streaming news, $30.50 for OPRA quotes, $23 for AMEX data, and $45 for NYSE numbers.


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Scottrade by TD Ameritrade Review


Founded in 1980, Scottrade is a discount brokerage firm with over 500 service center locations across the United States. People who are partial to low trading fees and easy to use platforms will find Scottrade by TD Ameritrade provides all that account holders need.


Getting Started

For the majority of accounts, a client merely needs to fill out a simple application which can be downloaded online through Scottrade by TD Ameritrade’s website. For the first time, many people opt to visit a local branch to fill out the paperwork and fund the account. It is also a way to get to meet the manager and staff in case the need to contact these individuals in the future arises. Otherwise, the online application can be downloaded, printed, filled out, and mailed along with a check ($2500 minimum) to open up an account. Once Scottrade by TD Ameritrade receives the completed paperwork, a client would be contacted with an acknowledgement of the processing and opening of the account.


Stocks

There are no fees to open an account with Scottrade by TD Ameritrade. Trading stocks, no matter the size, is just $7 through Scottrade’s website; however, for customers who prefer to trade through brokers at the branches or on the phone, the fees are $32 per trade.


Options

Scottrade by TD Ameritrade offers sophisticated tools to help clients who trade options. Among these are tools for showing profit and loss analysis, as well as implied volatility. Clients can also access option chains in order to identify and calculate the right one for their goals and time-frame.

Option strategies that can be utilized through the website include income strategies for selling cash secured puts and covered calls; growth strategies for buying puts and calls; and speculative strategies for selling uncovered puts. Traders can also buy and sell mini option contracts for these securities: APPL, AMZN, GOOG, GLD, and SPY.

Trading options with Scottrade by TD Ameritrade has the same price structure as trading stocks along with an additional $0.70 per contract. The option assignment or exercise fee is $17 per separate security.


TD Ameritrade Level 2 Quotes


Mutual Funds

Scottrade by TD Ameritrade features over 14,000 mutual funds for its clients. The funds are available in all categories: US Large Cap, US Mid Cap, US Small Cap, International Equity, and Fixed Income. Over half of these mutual funds are no-load, which have a $17 fee for buying or selling. Approximately 2,600 are no-load, no transaction fee (NTF), and the rest are load mutual funds, which have no fee to buy and a $17 fee to sell. Trading these funds with broker assistance carries higher fees that include $25 for buying or selling no-load, no transaction fee (NFT); $42 for buying or selling no-load; and $42 for selling load funds.

Scottrade by TD Ameritrade offers clients on-line tools to assist them in selecting which mutual funds fit their objectives. Independent research from Morningstar ratings and analyst reports can be easily accessed. Customers can also find mutual fund news, recent market events, market statistics, and expert commentary from Standard & Poor’s. Furthermore, pre-defined screeners can show short-term, fixed-income funds and income-oriented funds.


Other Accounts

Aside from regular brokerage account, Scottrade by TD Ameritrade also provides a wide array of other accounts, which include IRAs, Trusts, Custodial/Guardian, and Business accounts.


Final Thoughts

Factors that draw clients to Scottrade by TD Ameritrade include the low fees for trading and no fees for account maintenance or inactivity. In addition, customers like easy-to-use website and trading platform.


Updated on 3/15/2018.