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We found 1 broker accounts (out of 147) that are suitable for L2Dealer.


Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.

The Ultimate Guide to

The L2Dealer Trading Platform

L2Dealer is a professional direct market access (DMA) platform that enables traders to trade Forex and shares CFDs without the intervention of a dealing desk. The L2Dealer is a downloadable DMA platform available from IG Markets.

L2Dealer offers the following:

  • Shares DMA – Traders can buy or sell CFD contracts on their favourite stocks, or make use of the broker’s share dealing service to trade stocks without dealing desk intervention. Traders get access to full depth of market quotes and also gain access to dark liquidity pools.

  • Forex Direct – Forex traders can get direct pricing from liquidity providers and get algorithmic trade executions for their trades.

L2Dealer is free to use, but exchanges may charge fees for data usage.

L2Dealer: Basic Functions

In this section, we will introduce the basic functions that traders will encounter on the L2Dealer platform. Some of these functions will include searching for assets to trade, opening, and closing positions, monitoring positions, placing orders and setting position sizes, etc.

  1. Searching for Assets to Trade

Assets traded with L2Dealer include Forex assets, indices, shares, and other OTC instruments. The Dictionary function (the magnifying glass on the top left of the platform toolbar) is used to display the different markets that warehouse the assets traded with L2Dealer.

L2Dealer - Search for Assets

L2Dealer – Search for Assets

The markets will then be displayed. Click on any market to see the assets listed. These assets will be listed on the left side of the platform screen. Click on each individual asset to open up the order box in order to open a position or adjust parameters such as trade sizes.

L2Dealer - Markets

L2Dealer – Markets

Traders may also decide to use the SEARCH function to look for a specific asset rather than use the Dictionary function. This is a faster way of locating markets or specific assets.

L2Dealer - Search Function

L2Dealer – Search Function

  1. Opening a Position and Setting Order Parameters

Traders can open trade orders and adjust the order parameters using the Deal Ticket. The Deal Ticket pops up when a specific asset is clicked with the mouse.

L2Dealer - Deal Ticket

L2Dealer – Deal Ticket

Parameters that can be set include the following:

  • Order type: Buy or sell at market price, or use a limit or stop order for the trade.

  • Price direction: there are two arrows available to click. The up arrow is to Buy and the down arrow to sell.

  • Set the Stop Loss (Stop Out) or Take Profit (Limit Out) targets for the trade.

  • Select the Lot size (Forex contracts) or the Contract size (other OTC assets such as stocks CFDs or stock index assets).

  • Stop type: Select from the Stop Types available – Guaranteed or Non-Guaranteed stops.

If Limit or Stop order types are selected, there will be the opportunity to decide the expiry time of the entry (Good till Cancelled, End of Day, etc).

  1. Monitoring Positions

Use the Positions tab to check on open or closed positions.

L2Dealer - Positions Tab

L2Dealer – Positions Tab

If orders are opened using market orders, they appear in the Open Position section of the screen. If the trader has set Limit or Stop orders, they will appear on the Orders to Open section. It is only when the pending orders are executed that the position ticker is transferred to the Open Positions tab.

L2Dealer - Open Positions Tab

L2Dealer – Open Positions Tab

Manage open positions as well as trades that are awaiting execution in the Orders to Open section. Simply right click on the order ticker and select the option to manage the order in the required way in the drop-down menu.

L2Dealer - Order Ticker Options

L2Dealer – Order Ticker Options

L2 Dealer Features

L2Dealer is designed for professional traders, therefore it has the features of a professional-level dealing platform. It is possible to trade a wide range of contracts in different markets using a single account through the L2Dealer platform.

Markets that can be traded are:

  1. DMA Equities

  2. Forex

  3. Exchange-traded Futures and Options

  4. IG Markets’ OTC contracts

The L2Dealer platform has a broad range of features and trading tools:

L2Dealer - Order Depth

L2Dealer – Order Depth

  • Level 2 prices, showing the full market depth for every stock

  • Anonymous order placement – inside the spread or at key levels

  • Access to all the key UK, US, European and world equity markets

  • Professional charts

  • Realtime news

  • Research

  • Tight spreads

  • Competitive bid/ask spreads

  • Large number of currency crosses

  • A large cross-section of world currencies with over 50 currency pairs available to trade

  • Competitive margin rates

  • Maximum Leverage at 1:50, with 2% margin requirements

  • 24-hour online and telephone/voice trading

  • Non-expiring Standard FX contracts.

  • Rolling Spot FX contracts can be traded through L2 Dealer.

Installation Procedure

The first step in the process is to fill an online form on the IG Markets L2Dealer page to register to get login details for the platform. After this is concluded, the trader is sent a download link with login details to access the platform.

L2Dealer - Installation

L2Dealer – Installation

Click on the ‘Install L2Dealer’ download link sent to email. Either open the file directly, or save it locally and then run the executable file (recommended). When the installation of the L2Dealer platform is complete, open the platform by double clicking on the icon on the home page, and log in with the details provided.

The installation requires the Microsoft .NET Framework 2.0 to be installed on the PC.

For traders who want to ensure that their trades are executed at the best market price then a direct market access platform such as L2Dealer may be suitable. The platform offers the liquidity of primary exchanges and market makers for share trading, and a direct connection to the liquidity pools of major banks and other liquidity providers for Forex trading. L2Dealer is available from IG Markets, who are the providers of the product.

Related Pages

Between 54-87% of retail CFD accounts lose money. Based on 69 brokers who display this data.