MLM Directory

Is Direct market access the typical trading platform that u get in all discount brokers? or is different?

I am confused.....the software that give you level 2 is also called direct market access ....is this right????? why do people make it seem as if it is something special....They say, no you can put in your price....but with Limit orders you always were able to put in your price?? WHAT AM I MISSING.?

Public Comments

1. your broker is also able to facilitate and close transactions. These cabe be between two of their customers or between one of their customers and an outsourced order. So, your broker is a market maker much like a supermarket, say a Safeway. Now there are many Safeways around town just as there are many stock market makers. They are interconnected and can see each others' prices. Those who offer huge discounts in terms of transaction fees limit your ability to shop your order in markets other than your brokers' internal market. Access to the BEST price can mean best price across only your broker's internal market or over all stock markets. With Level 2, you get to see who is buying and who is selling. There is an inference required there but it gives you a better sense of the flow of money in the market.