BookMap Review – Does The Platform Live Up To The Hype?

BookMap Review

If you are looking for a powerful tool to enhance your day trading experience, BookMap is worth considering. This innovative platform offers real-time market data visualization, comprehensive analysis tools, and convenient trading features.

With BookMap, you can gain valuable insights into market liquidity, identify hidden price patterns, and make informed trading decisions. In this unbiased BookMap Review, we explore the platform’s features and capabilities to help you determine if it aligns with your trading needs. Read on to discover if BookMap is the right fit for you.

What Is BookMap?

BookMap, born out of the collaboration between experienced traders and skilled software developers, emerged with a mission to redefine the trading experience. Their vision was to create a cutting-edge platform that would empower traders with greater insights and efficiency in decision-making and trade execution. Leveraging the potential of real-time market data visualization, BookMap aimed to provide a unique perspective on the market.

After years of meticulous development and rigorous testing, BookMap made its debut, capturing the attention of day traders worldwide. But how exactly does BookMap differentiate itself? Let’s take a look at its features to see.

BookMap Features

  • Heatmap Visualization: Displays a color-coded representation of the order book for real-time insights into buyer-seller dynamics and key support/resistance levels.
  • Volume Dots and Trade Alerts: Provides visual cues on trade size and direction, along with customizable alerts for better decision-making and identifying market momentum shifts.
  • Historical and Real-time Data: Access to comprehensive market data from multiple sources, offering valuable insights for both short-term and long-term traders.
  • Custom Indicators and Add-ons: Highly customizable platform allowing users to create their own indicators and add-ons or choose from third-party solutions.
  • Multi-platform Compatibility: Compatible with Windows, macOS, and cloud platforms, ensuring accessibility and flexibility for traders.
  • One-click trading: Streamlined feature for quick and efficient trade execution.
  • Customizable interface: Tailor the interface to individual preferences, including color schemes and data point customization.
  • Charts: Offers various chart types (candlestick, bar, line) with adjustable timeframes and the ability to incorporate order flow data and trading volume.
  • Bookmap Indicators: Designed to interpret market liquidity data, including proprietary heatmaps, bid/ask volume bubbles, and spread lines.
  • Heatmaps: Displays liquidity levels at different price levels, aiding in the identification of support and resistance areas.
  • Market Replay: Allows recording and playback of market data, beneficial for analysis and back-testing of trading strategies.
  • API: Provides an API for integration with proprietary and algorithmic trading strategies, enabling automation of execution and trade management triggers.

BookMap Pricing

BookMap offers a variety of pricing packages designed to cater to the diverse needs and budgets of traders. The available plans include the Digital Free Package, Digital Plus Package, Global Package, and Global Plus Package.

The Digital Free Package is a no-cost option that provides access to BookMap’s unique heatmaps. Traders using this package can benefit from real-time market data for cryptocurrencies from major exchanges like BitMEX, GDAX, Bitfinex, and OKCoin. Additionally, delayed market data for stocks and futures is available.

For those seeking enhanced features, the Digital Plus Package is available at a monthly cost of $16. This package includes several indicators such as VWAP, point of control, and cross best bid and offer. Traders can also take advantage of one-click trading for cryptocurrencies.

The Global Package, priced at $39 per month, offers all features of the Digital Plus Package and also gives access to market replay. For the most comprehensive package, traders can opt for the Global Plus Package, priced at $79 per month.

In addition to the features included in the Global Package, this plan offers proprietary tools like the large lot tracker, imbalance indicator, and Depth of Market Pro. Traders can enjoy one-click trading functionality for both stocks and futures.

BookMap also provides discounts on annual plans, with a 20% reduction in pricing.If you are sold on the benefits of BookMap, there is the option to purchase a lifetime subscription to the Global plan for $990 or the Global Plus plan for $1,990.

BookMap Review: The Pros & Cons

Pros:

  • Live market data
  • Extensive data visualization
  • One-click trading for Quick execution and ease
  • Multiple data provider options

Cons:

  • Complexity in understanding and using the platform
  • Limited compatibility with certain trading platforms

BookMap Alternatives

If BookMap’s expensive premium packages are out of your price range, there are cheaper options available. One of the more affordable options is FinViz. For just $39.50 per month, users gain access to their suite of powerful tools, including their highly rated Heatmaps. Learn more about them in this FinViz Review.

If you are an options trader looking to gain an edge, TheoTrade is definitely worth looking into. Although a bit expensive, at $997 per year, the one-on-one coaching offered by TheoTrade gives traders invaluable knowledge. Read more about what makes it so special in this TheoTrade Review

If you are just starting out on your trading journey and want to become a successful day trader, there are a number of quality resources to help you achieve your goals. You can find an extensive list of the best day trading platform for beginners by clicking the link.

Final Thoughts

Bookmap offers a powerful trading platform with its heatmap visualization, real-time market data, and customizable features. While it may require some effort to navigate its complexities and consider pricing plans, Bookmap provides valuable insights for informed trading decisions.

If you’re seeking advanced tools to analyze and gain an edge in the market, Bookmap is worth exploring. If you want to take advantage of its unique features and enhance your trading strategies, Click Here to get started.

The views expressed in this article are those of the authors and do not necessarily reflect the views or policies of The World Financial Review.