Webull, a top-rated trading app, is offering all customers a 3-month free subscription to Level 2 Advance (Nasdaq TotalView)! Become a better trader with more complete market data. Try it out for 3 months!
Thank you to Webull for sponsoring this post. Although The Money Ninja was paid for our time, all opinions are our own.
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Webull Level 2 Advance 3-Month Free Subscription Offer
Information is the key to trading.
The problem is the market is not always as transparent as it’s supposed to be. Common investors can’t access as much information as professional investors, therefore, they’re not able to fully understand the market.
Webull, as a fintech company, is committed to providing equal market information to everyone. They have partnered with Nasdaq to give all Webull users access to Level 2 market data.
And for a limited time, you can get a complimentary 3-month subscription to Level 2 Advance (Nasdaq TotalView).
How To Get Level 2 Free Subscription On The Webull App
- Launch the Webull App
- Click on the “Menu” icon on the bottom right-hand side
- Under the “Promotion Center“, locate and tap “Advanced Quotes Bonus“
What Is Level 2 Advance?
In one word = data.
Level 2 allows the average investor to see what professionals see when they trade. Get in-depth market data: including real time quotes for Bid & Ask across 30 price levels:
Here are all the features you’ll get with Level 2 Advance:
View Complete Depth-of-Book
One of the main benefits TotalView offers is the ability to view the complete depth-of-book with NASDAQ’s best 30+ bids and offers. This information lets you see locations of orders placed, how they bunch in real time, as well as how the bids and asks feed into the changing stock price. Basically, this shows supply and demand as it adjusts in the security in real-time. Based on this activity, you get an improved sense of future price movements. You can choose to access the order book by price levels or by individual orders.
Follow the Largest Liquidity Pool in Real-Time
All investors want to be able to anticipate where the market is going and TotalView can help. Within the United States, NASDAQ is the largest single liquidity pool. With TotalView, you can follow pockets of liquidity over time to better understand how orders are distributed in the market. This understanding aids you to identify new trading opportunities.
Gain Access to Net Order Imbalance Indicator (NOII) Data
Traders gain access to Net Order Imbalance Indicator (NOII) data in real time before the official open and close. Viewing accurate broadcasts of what the likely opening and closing prices will be ahead of time can reveal valuable trading opportunities. The Auction Crossing NOII provides investors transparency in not just into the opening cross and closing cross, but also Initial Public Offerings (IPOs) and halt crosses. Let’s look a bit more closely into how this works.
Step 1: Auction Process & Crosses
The auction order book combines all eligible orders at each price level. Buy orders are calculated by adding the order quantity up to that price level. Sell orders are calculated by adding up the order quantity at or greater than that price level.
Step 2: Indicative Cross Orders
The value of indicative cross orders is the number of orders that are eligible to be matched at each of the price levels. It’s the lower one of the aggregate buy or sell orders at each price level.
Step 3: Determine the Reference Price
At the end of the auction window, the auction runs with the goal of maximizing the quantity of shares crossed, while still respecting the different limits on orders.
Step 4: Find Imbalance Side
The amount of indicative cross orders, based on the reference price, is the number of paired (“matched”) shares. The difference between the aggregate buy orders and the sell order at the reference price level is the value of the “imbalance shares.” The imbalance quantity is the number of opening or closing shares that wouldn’t get executed at the current reference price. The ”imbalance side” tells you whether a buy-side or sell-side imbalance exists or if there is no imbalance.
If there are imbalance shares at the reference price level, the auction continues to look for a crossing price that will clear the imbalance shares or maximize matched shares.
The “near indicative clearing price” is the crossing point that uses the auction orders as well as the continuous market orders. This price is largely representative of where the auction will end up executing. The “far indicative clearing price” is the crossing price that only uses auction orders.
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The Bottom Line
Webull’s Level 2 Advance (Nasdaq TotalView) provides extremely valuable data, but all the information you get can be overwhelming.
If you’re a new investor or trader, I’d recommend familiarizing yourself with the Webull app first; learn how to navigate the app, understand the basics of buying and selling stocks, and participate in the chat room with other Webull users.
Once you’re ready to absorb more advanced trading info, then start your free Level 2 Advance 3-month trial to take full advantage of the free offer.