Level 1 and Level 2 market data
Market Data: Level 1 / Level 2 (DOM)
פלטפורמות וכליםDefinition
Level 1 is the last price and the nearest bid and ask line. Level 2, also called Depth of Market (DOM), shows pending orders at several price levels above and below. In some prop firms, Level 1 is included in the price, and Level 2 costs extra or is not available at all.
Detailed explanation
For most traders, Level 1 is sufficient: chart, price, and execution. Order Flow traders and scalpers who read the DOM need Level 2, and it's advisable to check if it's available in the account before purchasing. Upon first entry, you usually sign an agreement for exchange data and declare whether you are Professional or Non-Professional. Choose according to the exchange's definitions, and if in doubt, ask the firm.
An example from the prop world
With FTMO Futures, Level 1 data is included in the subscription, and Level 2 is not included and cannot be purchased with FTMO login details. A trader working with DOM should know this before buying an evaluation.
How it works at the firms on this site
Based on the rules listed on our firm pages. Rules get updated, so check the firm's page before buying.