# delayed data....Questrade



## Steve64 (Jun 28, 2016)

I'm relatively new to online trading and am seeing a huge disadvantage to having this Questrade 15 min delay on the stock data i see (level 1). I get that this is their free platform and as a new trader i'm being realistic in my expectations as to my ability to make successful trades. So i'm focusing on my methodologies and keeping my emotions at bay as well as making small trade more so for the practice than the returns. I'm also more of a swing trader 1-5 days & 1-30 days not a day trader (from my understanding of the definition )

The $90/mth that questrade charges for each of the CAD and USA level 2 market data seems high to me (at this stage in my game) but i'd like to get other's feedback as to whether it's money worth spending or i should wait until i generate $300-400 mth consistently in order to justify the expense? 

Also the other concern i have is if the market data is updated every second (as per questrades promise) will my trades be transmitted to the markets just as fast (or will i experience the same delays i am now?)

***questrade reply below ***
The market data will update every second so you will see continuous changes in market prices.
9:07:58 AM
Alana A: 
Real time data means that there is no delay in the data that you will be receiving. You will get the most up to date market quotes.


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## cainvest (May 1, 2013)

If you are trying to capture extra % on daily movements then level 2 is generally needed. For the short duration trades you mention, like 1-5 days, level 2 data might be a good idea but depends on the buy/sell criteria you are using and the stocks you are playing.


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## fstamand (Mar 24, 2015)

you can click on the "refresh" icon next to the stock when you're in quote mode. You'll get the 1sec refresh


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## Steve64 (Jun 28, 2016)

thanks , i'm not sure how to determine if i'll get my $ out of the mthly charge


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## scorpion_ca (Nov 3, 2014)

I think level 2 quote is required for gambler not for investor. I believe BMO offers free L2 quote as long as you have $250k or more in the account.


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## AltaRed (Jun 8, 2009)

scorpion_ca said:


> I think level 2 quote is required for gambler not for investor. I believe BMO offers free L2 quote as long as you have $250k or more in the account.


Doesn't say Level 2 @ $250k here https://www.bmo.com/investorline/self-directed/5-star-vip-program/

Scotia iTrade does Level 2 with Flight Desk @ $250k https://www.scotiaitrade.com/en/dir...cotia-itrade-iclub/gold-iclub-membership.html

Corrected link


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## off.by.10 (Mar 16, 2014)

AltaRed said:


> Doesn't say Level 2 @ $250k here https://www.bmo.com/investorline/self-directed/5-star-vip-program/
> 
> Scotia iTrade does Level 2 with Flight Desk @ $250k https://www.bmo.com/investorline/self-directed/5-star-vip-program/


Yup, you get real-time quotes. Their basic quotes are delayed. See the note here.I haven't checked recently if that's still true.


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## AltaRed (Jun 8, 2009)

I corrected my prior post for the proper Scotia link. The link you provided says nothing about Level 2. Gold status does give one Market Pro Lite, but I don't use it and not sure what it all includes. Didn't bother once BMO IL took away Market Pro Trader for their re-configured status levels. 

I use Scotia's Flight Desk real time Level 2 for all my trades in Scotia and BMO.

Added: Getting back to the OP, Level 2 is not really very important for small trades where there may be sufficient volume being offered at Bid or Ask to complete the trade at the price desired. I doubt it would be worth paying a significant price for. Good luck being a trader. You are going against computer generated trades, algorithms, etc.


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## scorpion_ca (Nov 3, 2014)

AltaRed said:


> Doesn't say Level 2 @ $250k here https://www.bmo.com/investorline/self-directed/5-star-vip-program/
> 
> Scotia iTrade does Level 2 with Flight Desk @ $250k https://www.scotiaitrade.com/en/dir...cotia-itrade-iclub/gold-iclub-membership.html
> 
> Corrected link


It seems that they have changed their plan.


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## AltaRed (Jun 8, 2009)

scorpion_ca said:


> It seems that they have changed their plan.


BMO did a wholesale revision to their 'levels' about April 1st of last year. They downgraded Gold, increased Platinum to $2M, took Market Pro Trader out of Gold and made it exclusive to Platinum. A lot of people lost Market Pro Trader and I think were royally pissed at it.


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## Rusty O'Toole (Feb 1, 2012)

TD Ameritrade gives me real time quotes and the Think or Swim platform for nothing, just a $5 commission on each trade. ToS is especially good for options but works for stock trading, charting etc.


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