Why Ironbeam Offers Free Level 2 Market Data — and How to Use It

Level 2 market data is one of the most powerful tools available to futures traders. It provides a detailed view of the market beyond just the best bid and ask prices. While many brokers charge for access to this data, Ironbeam offers it free of charge on our trading platform.

This article explains why we offer free Level 2 data, how it works, and how you can use it to improve your trading.

What Is Level 2 Market Data?

Level 2 data, also known as market depth, displays the entire order book for a futures contract. Instead of only displaying the best bid and ask (Level 1), Level 2 displays:

• Multiple levels of bids and offers at different prices
• The number of contracts available at each level
• Real-time updates as orders enter or exit the book
• This provides traders with greater insight into market liquidity and buying or selling pressure.

Why Level 2 Data Matters for Traders

Here’s how traders use Level 2 data to make more informed decisions:

• Scalpers watch shifts in the order book to identify short-term trading opportunities.
• Day traders monitor liquidity and imbalances to fine-tune entries and exits.
• Swing traders use market depth to confirm support and resistance levels.
• Algorithmic traders rely on this data to feed execution strategies.

Level 2 data offers critical context for understanding how and where the market is likely to move.

Why Most Brokers Charge for It — and Why We Don’t

Many brokers treat Level 2 data as a premium feature, charging additional monthly fees per exchange. These charges often range from $10 to $45 or more per month. At Ironbeam, we take a different approach.

We believe that traders should have access to the tools they need without incurring additional costs for visibility. That’s why we offer free, real-time Level 2 market depth data on the Ironbeam platform with every account.

How to Use Level 2 on the Ironbeam Platform

Accessing and using Level 2 data on the Ironbeam platform is simple:

1. Open the Depth widget on the Ironbeam platform.
2. Monitor the order book as bids and asks update in real time.
3. Place orders directly from the DOM by clicking on price levels.
4. Customize your layout to show market depth, volume columns, working orders, and more.

The Ironbeam platform combines full market depth, order flow, and execution in a single, integrated environment — eliminating the need for third-party plugins.

Who Benefits Most from Level 2 Access?

• Active futures traders who rely on fast-moving order flow
• Traders who prefer one-click trading and a drag and drop style of placing and modifying orders
• Traders coming from equity or crypto markets are accustomed to modern, data-rich interfaces
• Anyone looking to improve execution or gain a better understanding of price action

Whether you’re scalping tick-by-tick or managing risk around key levels, Level 2 data provides the transparency you need to trade with confidence.

Start Trading with Full Visibility

If you’re an existing Ironbeam user, you already have access to Level 2 data. Just log in and launch the platform.

If you’re new to Ironbeam, open a live or demo account and experience it for yourself.

Level 2 data isn’t a luxury. It’s a necessity for serious traders. At Ironbeam, we provide it for free because we believe complete transparency should be the standard, not an upsell.

If you’re ready to trade with complete market visibility, we’re prepared to help.