In this Jigsaw Trading review, we’ll explore how order flow trading works and how it can work for you! Commonly, traders use technical and fundamental analysis to decide to enter a trade. Taking a completely different approach, Jigsaw Trading uses a suite of tools to help traders learn to use order flow charts to make trades.
Founded in 2011 by Peter Davies, Jigsaw Trading is a privately held company that provides innovative solutions for traders day trading stocks and futures markets. Serving more than 3,500 customers globally, Jigsaw is rated the top software product out of more than 280 trading applications.
Stock market trading needs great brokers to be successful. Gone are the days of someone doing it for you. Therefore, make sure you have the best broker for your trading style.
Table of Contents
Jigsaw Trading Review Introduction
Our Jigsaw trading review has a little secret for you. Here’s a fact that may come as a surprise to you. As you know, markets operate on a cause-and-effect model. A move happens due to a “cause,” and the “effect” is displayed in the charts.
Because of this, many professional traders hardly bother with the charts at all. They’re interested in the “cause,” so they can catch the move before it hits the charts! Level 2, or the order book, is known to be a “leading indicator,” which means it shows activity BEFORE a trade happens.
Moving averages, charts, and most other indicators are known as “lagging indicators,” meaning they provide information AFTER that trade occurs. No one wants to be “that” person — the one who buys the high or sells the low. But how can you find the best entries and stops without insights into market order flow?
Order Book
Generally speaking, traders know quickly acting on trading opportunities is key to success. Understanding the order book is one of the most important keys to success for retail traders.
And why’s it important? By “reading the tape,” a.k.a level 2 data, traders can buy and sell at the right time. Certainly, the importance of order flow cannot be underestimated.
That’s where Jigsaw comes in. Their philosophy is to help users understand and anticipate these “causes” or what moves the market so traders can time their entry accordingly.
For example, they identify stocks primed to “move” based on volume profile and order flow. Keep reading our Jigsaw trading review to learn more.
Market Data
The depth of the market is a window that shows the number of buyers and sellers interested in a particular security or currency at different prices. Simply, it measures supply and demand.
The depth of market data is also known as the order book or level 2 data since it shows pending orders for a security or currency.
The higher the number of buy and sell orders at each price, the higher the market depth. It also refers to the number of shares of a stock that can be bought without an impact on stock price.
Viewing the depth of market information for a particular security in real time allows traders to profit from short-term price volatility. Traders use this information to their advantage as it can reflect where the price of a stock is going.
Jigsaw Order Flow Patterns Review
There are two ways in which Jigsaw can help to identify order flow patterns. Firstly, it provides order flow in real-time in their Depth of Market (DOM) tool and order book heat map.
Secondly, the historical representation of the order book is presented.
Jigsaw Trading Dom Tool
The clearer the DOM, the easier it is to read and avoid making mistakes. Jigsaw’s strength lies in its DOM tool. Compared to BookMap, Jigsaw’s competitor, Jigsaw’s DOM is far more visually appealing. Virtually everything displayed is customizable in terms of appearance. This can make a real difference when staring at your screen for hours.
Historical Representation
Historical bid x ask data isn’t available on most feeds. Generally, if it is, the data is unorganized and doesn’t make sense. Thus, it is referred to as “unbundled” data.
What sets Jigsaw apart is their ability to record this data and stitch it together. This is cool; Jigsaw uses an algorithm to re-bundle orders into the size they were executed at the market.
No other trading platform on the market has this ability. This means you are armed with very powerful information when backtesting your strategies.
Its highly customizable DOM allows traders to enter OCO’s and custom smart order types depending on which platform it’s running on.
On the contrary, the platform has nothing particularly innovative to offer. But in my opinion, that shouldn’t be a deal breaker.
Educational Support
Jigsaw offers extensive order education on its site, such as its free Order Flow Foundation video course. Arguably, it’s the best order flow training material available online.
It comprises four modules: theory, practical exercises, benefit-specific lessons (e.g., trade management, reversal trading, scalping), and trade location.
Jigsaw’s educational material is being disseminated in several Proprietary Trading firms to help their interns grasp Order Flow concepts. It’s pretty impressive if you ask me!
Jigsaw Trading Community
CEO of Jigsaw, Peter Davies, explains, “What sets Jigsaw apart is that we actively encourage our customers to communicate with each other.
Indeed, we even provide a venue for them to meet in the ‘Jigsaw Chat Room,’ a friendly, un-moderated, live discussion room where traders discuss the market action.
Many of our customers have their own YouTube pages, contribute to the Jigsaw Blog, and create threads on various Trading Forums explaining their methods and how they use the products.
We contribute our own content and trade recordings to the site and our partner sites.”
Are They Legit?
A quick internet search and the results speak for themselves:
- Voted “Trading Product of the Year” in the futures io communities “True Edge Awards.” This is the largest futures trading community in the world, with over 85,000 traders
- Voted number 1 product in the “Trading Software: Forex/Futures” category at Trader Planet.
COMPANY |  |  |  |
|---|---|---|---|
| DESCRIPTION | Trade Ideas provides powerful tools like real-time market scanning, AI-driven trade signals, customizable alerts, advanced charting capabilities, and time-saving data visualization | TrendSpider is the most robust all-in-one trading platform on the market today. Uncover strategies, pinpoint opportunities, analyze assets, and time trades like never before | Benzinga allows traders to profit with actionable stock news, trading signals and alerts, A streaming platform with all the information you need to invest smarter today |
| HIGHLIGHTS | Trade smarter • Faster trades • Ease of use • AI • Real-time scanning • Customizable Trade Ideas > | Real-time data • Consolidate tools • One platform • Analysis tools • Automated charting platform TrendSpider > | Breaking stock news • Options alerts • Stock market quotes • Financial news • Trade ideas Benzinga > |
Key to Their Success
A complete understanding of the trading process. CEO of Jigsaw, Peter Davies, explains, “Of course, people need quality trading tools, they need education too, but more importantly, they need the confidence to persevere through the learning process.”
This confidence factor is not to be underestimated. “When you discover a new trading method, you can’t expect to be an expert from day one.
There’s a learning curve. Having access to other traders that have been through that learning curve gives you the confidence to stick with it.”
Jigsaw Trading Pricing Review
- Independent $579
- Professional $879
- Market Maker $1,499
- Institutional $1,799
- You will need a subscription on top of that as well at $50 a month or $500 annually.
Get updated pricing here.
Pros
- High-quality order book software
- Superior quality training and educational materials
- Two visual representations of real-time market flow – a DOM tool and heatmap
- Excellent customer support backed by a strong, supportive community and live daily chat room
- Ability to re-bundle orders into the size they were executed at the market.
Cons
- Jittery heat map
- No built-in market replay function
- Fees can add up
- The focus is exclusively on order book traders
Final Thoughts: Jigsaw Trading Review
With a trail of accolades, it might be tough to understand why anyone would use any other order book trading software.
Furthermore, users can access trading tools, a comprehensive free training course, and a vibrant trading community.
The basic subscription is well worth the investment if you’re an experienced order book trader.
However, it will be very expensive if you’re new to order book trading and need advanced tools; it might be wise to start with the basics; with experience, you can scale up.
Frequently Asked Questions
Investors cannot purchase shares of Jigsaw Trading because the company is privately held.
Peter Davies is the founder of Jigsaw Trading.
Jigsaw Daytradr costs $50 per month or $500 per year. It works with IQFeed, CQG Continuum, Gain (OEC), Rithmic, and Tradovate.
Jigsaw is a specialized discount futures broker that offers low rates to traders. They have an award winning trading platform.
Some traders are able to make money with algorithmic trading, however, most traders don't. It can help traders take a disciplined and systematic approach if they have a proven trading style.
