ProRealTime and Level 2 data

[mella]

Morning all,

 

Newbie here!

 

I am considering using ProRealTime and would like to know if it comes with level 2 real time data?

 

Thanks in advance.

[Caseynotes]

Hi , the two platforms are different, PRT is a charting platform and comes with the standard IG server feed, the L2 is a dealing platform with differing pay for feeds so though PRT doesn't come with L2 the two can be used in conjunction.

 

I notice that the IG info now to bundles the names Forex Direct, DMA (direct market access) and Level 2 all together which is a bit confusing. Most would consider that to take full advantage of the pay for feeds you would want to be dealing in considerable size?

[JamesIG]

Thanks  for the Community reply. Hopefully I can add with the mod response. 

 

L2 data feeds and PRT are separate packages. If you have the L2 data on and you want to use PRT you will not see market depth, and there will be no benefit from having L2 enabled - i.e. your deals would be executed in the market. As stated if you're going to be using L2 data it would possibly be more useful to use the L2 DMA Platform: https://www.ig.com/uk/l2-trading-platform

 

This is useful if you're going to be dealing in size or want to do specific trade execution. For most, although DMA is often thrown around in chat rooms and online courses and is generally thought of as 'superior' (it is), it may not be necessary for all individuals.

 

What was the thinking and reason you wanted the L2 data and execution? Let the Community know what you are looking for from a dealing point of view and we should be able to assist / guide on whats the best option. 

[Caseynotes]

Hi , thanks for the clarification, can I just ask though, am I right in thinking the L2 DMA platform doesn't come with a charting package?, and if so and you were using PRT just for charting and DMA for dealing would you be liable for the monthly fee for using PRT or would the trades through DMA count?

[mella]

Hi James,

 

Thanks for coming back to my question.

 

I would like L2 info/data, so I can analyse/consider all orders/bought and sold shares with volume info in real time before making a final decision.

 

Best,

Lawrence

[JamesIG]

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wrote:

Hi , thanks for the clarification, can I just ask though, am I right in thinking the L2 DMA platform doesn't come with a charting package?, and if so and you were using PRT just for charting and DMA for dealing would you be liable for the monthly fee for using PRT or would the trades through DMA count?

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Hi  - to clarify you don't need to execute the actual deals through PRT for them to count towards the 'free PRT' offer. That was poorly worded but I hope it makes sense. 

[JamesIG]

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wrote:

hi i have a simple question not sure if its the right place but i need to know why when i click on the little blue pen icon on a Australian stock it asks me for my Tax file number? but if i click on the chart and then go to execute a trade it seems to work fine and not ask me for my TFN?

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Hey  - I've passed this to our Australian office who will be able to assist. 

[JamesIG]

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wrote:

Hi James,

 

Thanks for coming back to my question.

 

I would like L2 info/data, so I can analyse/consider all orders/bought and sold shares with volume info in real time before making a final decision.

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Thanks @mella - in this case you can download the L2 dealer (as above) and execute via that platform. IF you would like charting packages as well, then you can also use the PRT offering, however because this will use derived pricing and OTC fills the charts won't be a direct or accurate representation (depending on how specific and accurate you want the charts to be). 

[Guest Simon]

Hi, I'm having issues bringing up charts through L2 dealer. I've spoken to IT and they are looking into it, but I thought I would post to the community to see if you have any thoughts?

I am unable to bring up PRT or the L2 Dealer charts when clicking the icons within L2 dealer. Apparently this is a known issue....are there any fixes coming?

Admins: Is there any thought to being able to use DMA through PRT? 

Also, any thought to having hot key ability within L2 dealer for faster execution?

[richeb]

Hi - are the spreads better if you deal via L2 Trader versus the web platform (with or without PRT)? Basically I'm trying to get spreads suitable for Day Trading on IG. Thanks for your help.