Are you a day trader searching for that game-changing platform to elevate your trading game? Well, we might have found the right solution to your trading needs, and it’s called Bookmap.
This platform has been creating quite a buzz among day traders. You might be curious about what makes Bookmap stand out in the sea of trading platforms and whether it has that extra oomph to supercharge your day trading experience.
In this riveting Bookmap review, we’ll take you through its features, cost, pros, and any potential hiccups you may encounter.
By the end of this post, you’ll have all the insights you need to determine if Bookmap is the ideal companion for your trading style and ambitions.
Table of Contents
What is Bookmap?
Imagine a platform that pushes the boundaries of real-time data visualization, offering you a crystal-clear representation of market data as you’ve never seen before.
That’s Bookmap for you, with its fascinating heatmap functionality captures market data with incredible precision.
Since its launch in 2014, Bookmap has become a formidable player in the market-depth data visualization arena.
Sure, there are many charting tools, but none compare to Bookmap. Traditional charting tools can sometimes leave you wanting more, as they may filter or summarize data beforehand or only use data from ECNs.
But here’s where Bookmap steals the show – it’s all about leveraging 100% of the market data for spot-on analysis.
Instead of giving you pre-filtered information, Bookmap lays out the full market depth to explore.
Features of Bookmap?
Bookmap provides several features that can be helpful to traders of all levels.
1. Heatmap and Volume Dots
Bookmap brings unique features to the table, with its heatmap being the show’s star.
This brilliant tool displays the order book’s dynamics using an easy-to-understand color scale. Think of warm hues like yellow, orange, and red reflecting support and resistance levels.
The heatmap reveals the entire order book and trading volume, both current and past, giving you a faster and more in-depth understanding of market dynamics.
2. Iceberg Detector and Large Lot Tracker (LLT)
Imagine being able to spot the “big fish in the pond” – that’s what this feature does, helping you pinpoint the largest limit orders in the order book.
3. Replay Mode
Now, this is super handy – Replay Mode records your real-time trading sessions for later analysis. You can study the order book’s development, which may spark fresh ideas or inspire improvements to your trading strategies.
4. One-click Trading
Who doesn’t love convenience? With Bookmap, you can trade directly from the chart using one-click trading.
Place your orders right on the chart and at the highest subscription level. You can even trade straight from the Bookmap chart. It supports all popular order types, including OCO orders and bracket orders.
5. Real time Data
Bookmap is all about being up-to-date, with its event-driven tool refreshing every 30 milliseconds. It delivers unfiltered, “raw” real-time data for all US stocks at full depth, covering US stock exchanges like Nasdaq TotalView and Nasdaq Last Sale.
And if you’re interested in future data feeds, you can subscribe to those. What do you think about the features? You can also read this review on Bookmap by MBN.
Bookmap Pricing
Bookmap has crafted four different pricing plans to accommodate the varied needs and budgets of traders like yourself.
Here’s a quick rundown of the plans available:
- Digital: Starting with the most basic plan, which is free! You’ll enjoy access to delayed market data, volume dots, and price levels.
- Digital Plus: For a mere $16/month, this plan includes everything in the Digital plan and offers access to extra market data providers and the ability to personalize the interface.
- Global: Priced at $39/month, this plan encompasses everything in the Digital Plus plan while unlocking access to the market replay and even more market data sources.
- Global Plus: At $79/month, this is the ultimate plan Bookmap has to offer. You’ll get everything in the Global plan, advanced market data analysis tools, and tailor-made training sessions to sharpen your trading expertise.
With these options, you can find the perfect plan that aligns with your needs and budget, allowing you to maximize your Bookmap experience.
Pros of Bookmap
- Real-time market data
- In-depth market data visualization
- Variety of market data providers
- One-click trading feature
Cons of Bookmap
- Expensive
- The learning curve is slightly steep
- Restricted platform compatibility
Is Bookmap Worth it?
Is it worth your hard-earned cash? Well, that depends on your unique needs and trading aspirations.
Bookmap is one of the best for day traders searching for a comprehensive platform that boasts real-time market data, volume dots, price levels, and one-click trading, then Bookmap might just be right up your alley.
Still on the fence after this chat? No worries! Give the free Digital plan a whirl to test the waters before diving into a paid subscription.
And always remember, no trading platform can promise stock market success. Doing your own research and making well-informed decisions based on your personal risk tolerance and financial objectives is crucial.
Click here to sign up for the basic Digital plan for free, or level up to one of the paid plans to unlock extra features and market data providers.
About Carson Derrow
