How to Get Free Level 2 Nasdaq Quotes
If you want Level II quotes to improve your trading routine, thinkorswim from Charles Schwab may have
exactly what you need. On its flagship trading platform, the brokerage firm
provides Level II data on U.S.-listed futures, stocks, ETFs, closed-end funds, and options at no added platform charge. In addition to the attractive price, Schwab has no minimum account balance or trading requirement for a standard self-directed brokerage account, so even smaller traders can take advantage of these useful quotes.
Enabling Level II Quotes
Level II quotes are part of thinkorswim, but
you still need access to thinkorswim through an eligible Schwab account. Once thinkorswim access is set up, you can log into the platform with the same credentials you use for Schwab’s website.
Free Level 2 Data
Get thinkorswim platform and $0-fee trades at Charles Schwab.
Open thinkorswim Account
Finding the Level II Window
Finding the Level II window on thinkorswim can take a little work. It does not always appear front and center, so you may need to open it from the correct location, which depends on the version of thinkorswim you’re using. The software comes in three versions: desktop, mobile app, and browser platform.
On the desktop platform, there is a plus sign (+) in the bottom-left corner. Click the plus sign to open a menu of available tools. In that menu, there is a link for Level II quotes. Click it to create a Level II window in the left-hand sidebar; then enter a ticker symbol.
The Level II window can be customized in different ways. A drop-down menu offers three data sets: Level II, NASDAQ Full Book, and BATS/EDGE Full Book.
An order ticket can be filled directly from the Level II window. Just click on a bid or ask price to populate thinkorswim’s order ticket. A small icon with three horizontal bars can be used to build a custom multi-leg order at that price. The default setting is 100 shares, although this can be changed.
In addition to the Level II window, the plus sign also includes a link to Market Depth, which is similar to Level II data.
On the mobile app, Level II quotes appear on the Level II tab within an asset’s profile. To reach the profile, type a ticker symbol into the search field (opened through the magnifying-glass icon) or go to a watchlist and tap a symbol. Either path brings up the same profile. Scroll through the menu to find the Level II tab. Tap a price to fill the app’s order ticket. Color-coded histograms on both sides display bid and ask volume; these can be switched off through the gear icon.
On the web-browser platform, click either the Trade or Charts tab in the vertical menu on the left. Near the center of the screen, you’ll see another vertical set of tabs, including one for Level II. Click it to open a vertical list of bid and ask quotes across multiple ECNs. Histograms appear here as well, although gray is the only available color. As usual, clicking a bid or ask price fills the order ticket with a limit order at the selected price. A nearby tab shows time & sales data.
Free Level 2 Quotes
Get thinkorswim platform and $0-fee trades at Charles Schwab.
Open thinkorswim Account
Practicing with Level II Data
Because thinkorswim includes simulated trading, it’s easy to practice with Level II quotes on any of the three thinkorswim platforms. A virtual balance is used in this mode, so there is no financial risk.
Updated on 4/14/2026.
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