We are often asked whether traders need Level 2 for their trading. Here is our response:
As a client of Optimus Futures you have access to different data feed options for your futures trading. While level 2 data can provide valuable insights, it is not a mandatory requirement for trading through our platform. Level 2 data, with its more detailed view of the market depth, can be a helpful tool for trading. It shows multiple bid and ask prices and the corresponding volumes at each price level. This information can help you gauge market sentiment, identify potential support and resistance levels, and make more informed trading decisions IF you know how to read level 2.
Our platform also fully supports level 1 data. This includes the current best bid and ask prices, the last traded price, and the trading volume. Many of our clients find this level of data more than sufficient for their trading needs.
Using level 2 data ultimately depends on your trading style, strategy, and personal preferences. If you believe the additional market depth information would enhance your trading, we recommend considering CME level 2 data package. However, if you are comfortable making trading decisions based on level 1 data, you can continue to trade without upgrading to level 2.
If you have any further questions about our data feed options or would like to discuss which level of data is most suitable for your trading needs, please don’t hesitate to contact our customer support team. We are here to help you maximize your futures trading experience with Optimus Futures.
Best,
Matt Z
Optimus Futures