When most brokers started offering Level 3 (20 Depth View) to traders, FYERS took it to the next level by introducing 50 Levels Market Depth. This feature is a significant leap forward, providing traders with unprecedented visibility and insights into market liquidity.
In an era where speed, precision, and market visibility define success in trading, FYERS has raised the bar with the introduction of 50 Levels Market Depth. This new feature, available exclusively on their Scalper Terminal, gives traders an unparalleled edge.
Let’s get into what makes 50 Market Depth a breakthrough and how it can revolutionize your trading experience.
🔗 Read my hands-on walkthrough of FYERS Scalper Terminal here: A Hands-On Walkthrough of FYERS Scalper Terminal for Options Traders
What is 50 Market Depth?
Market depth refers to the number of buy and sell orders at different price levels in an order book. Most platforms offer 5, 10, or at most 20 levels of depth. However, FYERS has expanded this to 50 levels, giving traders:
- Deeper Order Book Visibility – Get a full picture of market liquidity up to 50 levels deep.
- Better Entry & Exit Points – Identify where large orders are sitting and anticipate price movements.
- Improved Scalping Strategies – Ideal for high-frequency traders who thrive on minor price fluctuations.
- Enhanced Decision Making – Minimize slippage and make more informed trading decisions.
- One-Click Order Execution via DOM (Depth of the Market) – Placing orders is fast, seamless, and trader-friendly, making it ideal for scalpers and active traders.
Where is 50 Market Depth Available?
This feature is currently available on the FYERS Scalper Terminal, a specialized trading platform designed for high-speed execution.
🔗 Try it here: FYERS Scalper Terminal
Different Types of Market Data for Traders
FYERS provides different levels of market data depending on the trader’s expertise and needs. According to Yash Khoday’s LinkedIn post, the classification is as follows:
- L2 Data (Basic Traders) – Shows the top 5 bids and asks.
- L3 Data (Pro Traders) – Displays the top 20 bids and asks.
- L4 Data (Smart Traders) – Coming soon… This is expected to include Tick-By-Tick (TBT) data.
What is Tick-By-Tick (TBT) Data?
TBT data provides the most granular form of market data, showing every individual trade and order book update in real-time. Unlike Level 2 or Level 3 data, which aggregates orders at different price levels, TBT data gives traders an ultra-detailed view of the market microstructure.
Why is TBT Data Important for Traders?
- High-Frequency Trading (HFT): Algorithmic traders rely on TBT data to spot micro-second level price inefficiencies.
- Market Making: Traders providing liquidity use TBT data to optimize their bid-ask spreads.
- Ultra-Fast Order Execution: It enables traders to react instantly to shifts in supply and demand.
- Reduced Impact Cost: Traders can optimize order placements to minimize slippage.
FYERS’ introduction of L4 data hints at bringing institutional-grade market visibility to retail traders, leveling the playing field.
Why 50 Levels Matter More Than 20
1. More Data = Sharper Insights
Tejas Khoday, CEO of FYERS, emphasized in his recent post:
“Using 20 level market-depth is not good enough! We’re now giving you 50 because seeing the fuller picture can help to improve your trading game.”
Traders who rely on only 20 levels often miss out on key liquidity pockets and large institutional orders sitting beyond that range. Having access to 50 levels ensures that you are not blindsided by hidden demand and supply zones.
2. Zero Delay, One-Click Execution
One of the standout features of FYERS 50 Market Depth is the ability to place orders directly from the depth window. This reduces execution time, allowing traders to capitalize on opportunities instantly.
🚀 Key Benefit: Zero delays mean you can react faster to market movements, crucial for scalping and day trading.
3. Reduced Impact Cost & Better Trade Execution
Impact cost refers to the difference between the expected price of a trade and the actual execution price. With deeper market visibility, traders can:
✅ Gauge the liquidity at different price levels.
✅ Place smarter orders to reduce slippage.
✅ Improve execution speed by targeting the right price zones.
How to Use FYERS 50 Market Depth for Trading?
1. Scalping & Short-Term Trading
- Identify the strongest bid/ask clusters.
- Ride momentum trades by observing liquidity imbalances.
- Place quick trades with minimal slippage.
2. Swing Trading & Positional Strategies
- Check how institutional orders are stacking up.
- Use depth insights to determine major support/resistance levels.
- Set stop losses based on market order flow.
3. Option Trading
Since 50 Market Depth is available in the Option Scalper Terminal, traders can:
- See option order flow for better strike selection.
- Identify implied volatility shifts by monitoring large trades.
- Place orders efficiently without getting stuck in illiquid contracts.
Final Thoughts
FYERS’ 50 Market Depth is transforming the way traders access market data. With the upcoming L4 Data (Tick-By-Tick Feeds), FYERS is setting a new benchmark in market transparency and trading execution.
🔥 Don’t trade blind—see the FULL market picture with FYERS 50 Depth!
💡 What do you think about this feature? Have you used it yet? Share your thoughts in the comments!
Hopefully, they will introduce 50 Market Depth to their Fyers API soon. Looking forward to it!
