Bookmap Review 2023
|By: Jeremy Biberdorf||Jan 10, 2023|
In a nutshell: Bookmap is a trading platform designed specifically for day traders. It offers real-time market data visualization, including volume dots and price levels, to help traders better understand market liquidity and trends. In addition, Bookmap offers one-click trading and the ability to view the full depth of the limit order book, allowing traders to quickly spot and act on trading opportunities.
But Bookmap is more than just a tool for executing trades. It also helps traders make informed trading decisions by providing a range of market data from multiple providers, as well as tools for analyzing price action and identifying hidden price patterns.
Overall, Bookmap is a comprehensive trading platform that can be a valuable resource for anyone looking to succeed in the stock market.
|$0 - $79/mo||Volume dots and price levels|
- Real-time market data
- Comprehensive market data visualization
- One-click trading
- Range of market data providers
- Limited platform compatibility
Compare to Other Investment Platforms
Pricing$0 - $79/mo
Fees$84/month - $167/month
Fees$0-$10 per month
Bookmap was founded by a team of experienced traders and software developers who saw an opportunity to create a better trading platform. They wanted to create a tool that would help traders make more informed decisions and execute trades more efficiently, and they saw the potential for using real-time market data visualization to achieve this goal.
After several years of development and testing, Bookmap was launched, and it has since become a popular choice for day traders around the world.
Bookmap offers four different pricing plans to suit the needs and budget of different traders. The plans available include:
Digital: The most basic plan, offered for free. It includes access to delayed market data, volume dots, and price levels.
Digital Plus: For $16/mo, this plan includes everything in the Digital plan, plus access to additional market data providers and the ability to customize the interface.
Global: For $39/mo, this plan includes everything in the Digital Plus plan, as well as access to market replay and additional market data sources.
Global Plus: For $79/mo, this is the most comprehensive plan offered by Bookmap. It includes everything in the Global plan, plus access to advanced market data analysis tools and personalized training sessions.
Key Features of Bookmap
In this section, we’ll break down the key features that set Bookmap apart from other trading platforms on the market.
The cornerstone of Bookmap’s platform is its heatmap visualization, which displays a color-coded representation of the order book for various financial instruments (stocks, futures, options, etc.). The heatmap continuously updates in real-time, allowing traders to follow shifts in the interaction between buyers and sellers and quickly identify key support and resistance levels.
According to user reviews, this heatmap visualization stands out in the market and enhances trading strategy:
“Bookmap is a wonderful order flow tool that has me helped me tighten my risk and stay in trades longer due to being able to see the interaction of the buyers and sellers like no other product on the market.”
Volume Dots and Trade Alerts
Bookmap’s volume dots provide visual cues on the size and direction of executed trades. These dots, combined with customizable trade alerts, help traders quickly identify shifts in market momentum and make better-informed decisions.
Historical and Real-time Data
Bookmap provides both historical and real-time market data, offering valuable insights to both short-term and long-term traders. Users can access an extensive range of data sources, including Rithmic, DXFeed, and IQFeed, for comprehensive market analysis.
Custom Indicators and Add-ons
Bookmap’s platform is incredibly customizable, allowing users to create their own custom indicators and add-ons or choose from a multitude of third-party solutions. This flexibility ensures that traders can tailor their Bookmap experience to suit their individual needs and strategies.
Bookmap is compatible with a range of platforms, offering its users wide accessibility to connect with their preferred trading technologies, including Windows, macOS, and the cloud.
Bookmap Additional Features
- One-click trading: Bookmap’s one-click trading feature makes it easy for traders to execute trades quickly and efficiently.
- Range of market data providers: Bookmap offers data from multiple market data providers, giving traders a more comprehensive view of the market.
- Depth of market: Bookmap’s depth of market feature allows traders to see the full limit order book, giving them a better understanding of market liquidity and helping them spot trading opportunities.
- Customizable interface: Bookmap’s interface can be customized to suit the needs and preferences of individual traders. This includes the ability to choose between different color schemes, add or remove certain data points, and more.
Who is Bookmap Best for?
Bookmap is a unique trading platform that caters to a particular subset of traders. It might not be the best fit for everyone, but it could be a game-changer for the right user. Let’s explore who might benefit most from what Bookmap has to offer.
- Day Traders: The real-time data, volume dots, and heatmap visualization of the order book offered by Bookmap are powerful tools for day traders. These features allow them to see market trends and liquidity in real-time and quickly spot potential trading opportunities. The platform’s one-click trading feature also allows day traders to execute trades quickly, which is crucial in the fast-paced world of day trading.
- Scalpers: Scalpers, who aim to profit from small price changes, can greatly benefit from Bookmap’s real-time data and visualization features. The ability to view the depth of market data can help scalpers understand the market liquidity and make quick decisions.
- Algorithmic Traders: Those who use automated trading systems or algorithms could benefit from Bookmap’s customizable features. The platform allows users to create their own custom indicators and add-ons, which can be used to refine and enhance their algorithmic trading strategies.
- Traders Seeking Depth of Market (DOM) Information: Bookmap’s depth of market feature provides a detailed view of market liquidity at different price levels. This information can be incredibly valuable for traders looking to understand the supply and demand dynamics of a particular security.
- Experienced Traders: While Bookmap can be a bit overwhelming for beginners due to its complexity, experienced traders who are familiar with different trading tools and strategies can take full advantage of the platform’s unique features. The platform provides a wealth of information and a high degree of customization, allowing experienced traders to tailor their trading experience to their specific needs and strategies.
There are many reasons why traders might choose Bookmap as their go-to platform. Some of the most compelling advantages of Bookmap include:
- Real-time market data: Bookmap provides up-to-the-second market data, so traders can stay on top of the latest price movements and trading activity. This is especially useful for day traders, who need to make quick decisions based on constantly changing market conditions.
- Comprehensive market data visualization: Bookmap’s unique volume dots and price levels display allows traders to see the full picture of market liquidity and trends. This can help traders identify hidden price patterns and make more informed trading decisions.
- One-click trading: Bookmap’s one-click trading feature makes it easy for traders to execute trades quickly and efficiently. This can be especially useful in fast-moving markets where every second counts.
- Range of market data providers: Bookmap offers data from multiple market data providers, giving traders a more comprehensive view of the market. This can help traders make better-informed trading decisions and spot trading opportunities that might otherwise be missed.
Of course, no trading platform is perfect, and Bookmap is no exception. Some potential drawbacks to consider include:
- Cost: Bookmap is not the cheapest trading platform on the market. While it does offer a basic Digital plan for free, more advanced plans such as Digital Plus (for $16/mo), Global (for $39/mo), and Global Plus (for $79/mo) can be quite expensive for some traders.
- Complexity: Some traders may find the volume dots and other visualization tools offered by Bookmap to be a bit overwhelming, especially for those new to trading. It may take some time to fully understand and utilize all of the features offered by the platform.
- Limited platform compatibility: Currently, Bookmap is only available as a desktop application, and is not compatible with mobile devices or web browsers. This can be inconvenient for traders who prefer to trade on-the-go or from multiple devices.
Bookmap Review – Final Thoughts
So, is Bookmap worth the investment? Ultimately, this will depend on your individual needs and trading goals. If you’re a day trader looking for a comprehensive platform that offers real-time market data, volume dots and price levels, and one-click trading, then Bookmap might be worth considering.
If you’re still unsure after reading this Bookmap review, consider trying out the free Digital plan to get a feel for the platform before committing to a paid subscription. And remember, no trading platform can guarantee success in the stock market, so it’s important to do your own research and make informed decisions based on your own risk tolerance and financial goals.
If you’re ready to give Bookmap a try,
Sign up for the basic Digital plan for free or upgrade to one of the paid plans to unlock additional features and market data providers. Whatever plan you choose, Bookmap can be a valuable tool in your trading arsenal, helping you to make more informed decisions and spot trading opportunities in real-time.