Interactive Brokers Data Services?

[schin]

I was reviewing the different data services subscriptions on IBKR. Does anyone use Level 2 or any paid subscriptions for options or non-US markets?

 

My options are 10-20 minutes delayed, but the spreads is so wide in general...but, I wonder if there's much value for a low-volume options trader like me.  

 

I guess the larger question is do people get a lot of value from advanced data services from any platform, if you're not day trading? Or even as a value investor -- are you just looking at being roughly right versus precisely wrong?

[Ronchong]

You can consider the snapshot button (it's the button that looks like a refresh symbol. It's point in time, not real time but I found it's good enough for low volume/value users. Costs you 0.01 cent per request iirc.

[pricingpower]

Level 2 is pretty helpful if you're often trying to execute larger sizes relative to market depth, even if trading infrequently.  I find the sweet spot to be the level2 Fidelity gives you for free above some account size hurdle in Active Trader Pro (the classic version, new beta version they are doing is much worse).  You don't get the good free level2 if you work for a bank/fund that makes you a professional for their licenses though.   I typically use Fidelity to see pricing even when entering orders on IBKR as the level 2 is useful enough.  

[schin]

@Ronchong @pricingpower - Thanks for your comments.