investing
Level 2 trading quotes
September 04, 2018

Level 2 data shows in-depth market information for Canadian and U.S. exchange-listed securities. This feed allows you to carry out comparative analysis for securities by providing information on executed bid and ask prices, buy and sell orders, order sizes, market makers, and more.

The level 2 window lets you see who the buyers and sellers are at different price levels. This feature allows you to view the actual market action occurring between buyers and sellers in real time. For active traders, knowing who has an interest in a stock (buyers vs. sellers) can be useful in predicting price movements.

To start, get familiarized with the level 2 data terms:

Quote areaDescription
VenueIndicates the venues where the trades occur
BidIndicates the current bid price
Bid sizeIndicates the number of shares/lots a buyer is willing to purchase at the quoted bid price. The format of this data is presented as it is received by Questrade from each specific exchange (shares or lots). Please refer to the exchange's website for up-to-date information.
AskIndicates the current ask price
Ask sizeIndicates the number of shares/lots a seller is selling at a quoted ask price. The format of this data is presented as it is received by Questrade from each specific exchange (shares or lots). Please refer to the exchange's website for up-to-date information.
IDIndicates broker ID when viewing market-by-broker data for NASDAQ traded symbol

  • Canadian stock exchanges

    You can view market data for symbols listed on any Canadian exchange by price, broker, or order (one at a time).
    • Market by price - all orders from each broker at a given price level are combined and shown as a single record
    • Market by broker - each broker is displayed separately at all of the price levels they currently offer for orders
    • Market by order- each outstanding order in the order books is sorted by bid or ask price and shown separately as a single record

    When you subscribe to a level 2 data package for any Canadian exchange, the default display for your data is market-by-price. You can upgrade your subscription at any time to see market-by-broker or market-by-order.

  • U.S. stock exchanges

    You can view market data for symbols listed on U.S. exchanges based on price and broker (NASDAQ only). When you subscribe to a level 2 data package, the default display for your data is market-by-price.
    • Market by price - all orders from each broker at a given price level are combined and shown as a single record
    • Market by broker (for NASDAQ only) - each broker is displayed separately at all of the price levels they currently offer for orders.

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The information contained in this website is for information purposes only and should not be used or construed as financial or investment advice by any individual. Information obtained from third parties is believed to be reliable, but no representations or warranty, expressed or implied is made by Questrade, Inc., its affiliates or any other person to its accuracy.

Questrade Wealth Management Inc. (QWM) and Questrade, Inc. are wholly owned subsidiaries of Questrade Financial Group Inc. Questrade, Inc. is a registered investment dealer, a member of the Investment Industry Regulatory Organization of Canada (IIROC) and a member of the Canadian Investor Protection Fund (CIPF), the benefits of which are limited to the activities undertaken by Questrade, Inc. QWM is not a member of IIROC or the CIPF.