NEW YORK, June 5, 2020 /PRNewswire/ -- Zero-commission investing platform TradeUP announced today that it is offering Level 2 market data powered by NYSE ArcaBook for free. Users who open an account with TradeUP will receive free access to NYSE ArcaBook for 3 months. Users can get free access to NYSE ArcaBook for an additional 9 months if they can get 5 likes on their social media post.
Unlike Level 1 data, which shows the best bid and ask, Level 2 data provides a broader range of buy and sell orders for a given security on a real-time basis. NYSE ArcaBook provides the 40 best bid and ask prices as well as their order sizes for more than 8,000 U.S.-listed securities. The continuous feed of quotes gives users detailed insights into the price action, which can help them better determine the current buying and selling interest for a particular stock, as well as the likely future direction of the stock's price. For easier comprehension, TradeUP also includes a depth chart to visualize the order book so that users can identify supply and demand at a glance.
"With NYSE ArcaBook, TradeUP's users are able to gain a clearer view of market activity," said Ryan Song, director of TradeUP. "By displaying multiple bids and asks in real-time, Level 2 screens allow investors, especially active traders, to gauge trade signals with intraday pricing and volume. For instance, investors can have a better sense of market liquidity by looking at how quickly buy and sell orders replenish. "
Song added, "Level 2 market data is often offered as a premium subscription service by other 'zero-commission' trading platforms, which means users still have to pay for access. TradeUP, on the other hand, makes this free to average U.S. retail investors. At TradeUP, zero-commission does not mean fewer product or service offerings. Instead, our goal is to utterly remove the last remaining barriers to investing for everyone."
Launched in January 2020, TradeUP is a fintech-powered investing platform that quickly drew the attention of young investors due to its intuitive and sleek design. According to Song, TradeUP also plans to upgrade its data provision to provide extra depth to users. Users may access additional, in-depth information and features available on TradeUP from the Discover module such as the economic calendar, most active stocks, and customizable alerts.
Zero-fee or commission-free trading means $0 commission trading on self-directed individual cash or margin brokerage accounts that trade U.S. exchange-listed stocks and ETFs online. A $0.65 per contract fee applies to options trades. TradeUP also charges commission on Hong Kong stock trading. For more information, see our full pricing details: https://www.itradeup.com/pricing/commissions-us
Brokerage services in TradeUP are offered by Marsco Investment Corporation. Download TradeUP in the Apple App Store or Google Play for free. For more information, please visit TradeUP's website: https://www.itradeup.com/
About Marsco Investment Corporation
Marsco Investment Corporation is a registered brokerage firm at SEC (CRD:18483; SEC: 8-36754), a member of FINRA/SIPC and a member of DTC/NSCC, regulated by the US Securities and Exchange Commission and Financial Industry Regulatory Authority.
All investments involve risk, including possible loss of principal. Past performance of a security, market, or financial product does not guarantee future results. Electronic trading poses unique risks to investors. System response and access times may vary due to market conditions, system performance, and other factors. Market volatility, volume, and system availability may delay account access and trade executions. The contents of this article shall not be considered a recommendation or solicitation for the purchase or sale of securities, futures or other investment products.