Having good stock trading software will immensely help you interpret stock data and numbers as they happen. No matter where you go, each provider will tell you that their program is the very best of them all, and most of them are quite useful.
We rounded up the Top 10 Best Stock Analysis Software and even listed out a few pros and cons to help you decide which is right for you. Any of these are superb in helping you make sense of the markets.
1. Trade Ideas
Arguably the best part of TradeIdeas is HOLLY, which is an AI driven Robo-advisor. It is made up of dozens of various investment algorithms that review a million (yes, 1 million) trading scenarios each night. You are then delivered a subset with the highest chances for success that day.
It makes it far easier to focus on other tasks involved with day trading. You no longer have to scan the markets yourself each day. Trade Ideas does all of that for you. There are HUNDREDS of trading strategies available to you.
The OddsMaker window is perfect for imagining historical profit and loss graphs for all different trading strategies and their variants. It is backtesting at its finest and gives you an overview of how the trading strategies, entry signals, and scans have performed.
The OddsMaker uses the history of the performance of the trading strategy, entry signals, and scans during a certain period of time. You can use it to really nail down your trading strategy. You don’t need any special skills, such as coding, to do this.
- AI driven HOLLY delivers you information never before seen on other programs
- Customer support is second to none
- The social aspect of the program is excellent- for instance, the Trade Ideas Chat Room is a place to talk in real-time
- It is mostly for experts- the amount of information thrown at you can be overwhelming for beginners.
- Charts are lacking in indicators.
For traders that value AI in their work, great system backtesting, and want it all for a great price, this is going to be the program for you.
Beginning at just $27 a month, the TrendSpider team works hard to bring you data in real-time. They have grown since their early days and now cover Forex, ETFs, Crypto, and Futures. It enables you to utilize their Auto Trend-lines and Multi time-frame analysis on markets around the world.
The AI of this program is fantastic. If you consider yourself a serious analyst of the markets, TrendSpider is the way to go. Trendline detection and plotting is automatic, and it’s better at it than most humans. It uses algorithms that can sniff out thousands of trend lines and highlight the best ones that have been back tested for success.
The program runs everywhere- smartphones, laptops, and PC. Customer service is excellent because you are always talking to a real live person around the clock.
- Backtesting is powerful but simple to use
- Fibonacci Trend Detection is automatic
- You can trade crypto, forex, futures and indices- and more.
- The program lacks the ability for auto trading
- Charts can be somewhat confusing – hourly, daily, and weekly trend data all in one can be bothersome at first.
TradingView begins at the great price of FREE. But you should purchase the full version to get the whole experience. The best value around is the PRO+ plan, which is just $19 per month, but you can also opt for the premium plan, which is $39 a month.
The latter is the ultimate best because you get EVERYTHING, and also some pretty great customer service.
The coverage of stock markets for this program is unheard of. You can follow any and all stock markets around the world. You can also follow mutual funds, forex, bonds, cryptocurrency, and ETFs- all included at no extra cost.
The social aspect of this program is great. Community ideas, chart postings, and endless groups of people talking about data is at your fingertips. Whatever your area of interest is, there’s a group for that.
- Great for beginners
- You can trade crypto, stocks, and forex
- Ability to chat, publish data, and follow others
- Customer support is only included when you buy the highest tier pricing plan.
- No access to level 2 data when paper trading.
First, let’s talk about the versatility of the program. Telechart is a seamless program and runs on all your devices, whether you’re running Mac, Android, PC, or laptop. Yes, you can run it on your smartphone, too.
This program is great for all traders but really shines when considering mutual funds, ETFs, and U.S. stocks. You can get trades for a mere $4.95 per trade thanks to the TC2000Brokerage discount services. Everything is available in-app and fully integrated, so it’s very easy to take advantage of.
This program does an excellent job of bringing users the news thanks to its integration with sources such as Google Finance, Marketwatch, and Yahoo Finance. I did notice, however, that the newest version lacks in social and community connection, and to get this, you would have to go back to V12.5.
Lastly, those of you that want to do backtesting, I would look elsewhere. Some users recommended using add-ons to make this happen, which I think should have already been included.
- Top margin rates
- You can trade direct from charts
- Great selection of indicators and charts
- Backtesting is not so great and requires the use of an add-on to shine.
- To get to the social aspect of this program requires the installation of an older version.
Day traders demanding a seamless and simple workflow, news, level II data, streaming charts, and the best broker integration around will do well by picking up Scanz.
The price is a bit higher than we’ve seen with other platforms, coming in at $149. However, it is worth the price. For example, trade management is excellent on this program. You can use the “Chart Montage” function to trade off the charts.
This window has heaps of important trading info, such as level 2 data, and real-time news. Their EquityFeed program helps day traders scan entire markets to look for volatility and volume patterns that can be traded for profit.
The program does a good job at offering news, too. It’s an easy to read feed which shows you contracts, and deals companies have signed. However, there is a very noticeable lack of social integration, which I think is a real drawback considering the price tag.
- Integrates seamlessly with brokers for smart trading
- Easy for all traders to use
- News engine is real-time and easy to navigate.
- Lack of social interaction
- Backtesting is not extensive on this platform.
Coming in at the great price of FREE, Stock Rover was quick to catch our eye. However, to fully understand its power, the Premium Plus version is the way to go. It’s just $28 a month, and you get top-notch customer service AND margin of safety scoring, analyst rating scores, and unlimited stock ratings.
The setup on this program is fast. You don’t need to download a client or huge amounts of data. You can use this program on all your devices, regardless of whether they are Mac or PC, Android, or iPhone.
You will be integrated with ALL major brokers, and even though you can’t place trades via charts, you can track profit and loss reports on your portfolio. You will get recommendations that can show you how to rebalance said portfolio.
This program is for those of you investing for the long-term. You are the sort who wants to max out their portfolio earnings and utilize margin of safety and compounding to achieve security in your investment.
- Great ease of use and versatility on all devices
- Large choice of criteria for fundamental and financial scanning
- Includes favored criteria of Warren Buffet and Ben Graham
- There is a lack of social interaction on this platform
- Needs more technical indicators
This platform boasts more than 60,000 users and, as such, is a leader when it comes to stock analysis software. You can use it for free if you like, but that prevents you from using the live-trading capabilities of NinjaTrader.
I’d suggest opting for it if you try and like the platform. You will have the chance to test out the program first- for instance; you can place simulated orders on exchanges in real-time!
NinjaTrader is excellent for all traders. Whether your game is futures, equities, FOREX, or swing trading, you will find that NinjaTrader is pretty great at what it does.
- You can test and try various trades for free
- Partial and full strategy automation is available
- Webinars, videos, and guides are available to help you learn.
- Program is quite expensive
- Some coding in C# required to program individualized strategy.
Three tiers of membership are offered, the latter two being the only ones that offer app usage. That being said, the platform provides heaps of charts, alerts, scanners, and watchlists at all membership levels.
Charting is smooth and scales easily. The charting is intuitive, and you can link them with many windows. Plenty of indicators are available; you can see everything from moving averages all the way to Fibonacci retraces and more.
The flexible scaling and easy ability to resize charts really shines when you factor in the indicators. With other platforms, the charts tend to slow down, and it becomes a hassle to try and chart anything. All in all, it’s a winning platform.
- All plans grant you free education and customer support.
- Integrates with over 50 brokers
- Charts are easy to resize, navigate and scale
- Exchange fees are quite pricey.
- App usage only available for top two membership tiers
VectorVest is for both investors and traders alike- the services they offer are the very definition of comprehensive. Just download the software and away you go.
When you first fire up the program, your dashboard shows you all the pertinent market data for the day. Color Guard lets you put tables into different color schemes, and Market Timing Gauge uses colors red, yellow, and green to tell you the current status of the markets.
Broker integration is also available. Ally Invest, QuesTrade, and Tradestation are three of the options. The Stock Analysis feature is pretty good; over 20,000 stocks are analyzed by the platform. You can rank your choices and then analyze them with a few clicks. Charts offered by VectorVest are some of the best around.
They can be accessed anywhere inside the platform, and it’s easy to set up and use. You can look at different time frames, which grants you all the most important functions needed to make smart decisions.
- Not limited to USA markets
- Market Timing Gauge is a big help
- Great ranking system based on relative safety/value/timing
- One of the more expensive platforms we reviewed
- May be too complicated for average investors.
Great for day traders and those that want news about the markets in real-time, this is a program which gives you access to great analysis tools and markets around the world. The customer service is also unparalleled with Metastock.
Data and news reach you the second it is released thanks to working with Reuters. Whatever’ s happening around the world, you will get information on it, and that includes futures, forex, equities, options, and ETFs.
Curious about how a sentiment will affect your forex trade? You can see it here. It is a feature which I’ve never seen anywhere else.
Another great thing is the expert advisors that work for MetaStock. Whether you’re a beginner or expert, the built-in systems of MetaStock help you figure out and make money from their analysis patterns. Another great feature is the forecasting functionality, which helps you make sound decisions about managing your money.
- The charts and indicators selection are industry best.
- News and information are posted in real-time via Reuters.
- There is a deal- buy three months of service for the price of one.
- It only works on PC. There is no mobile app.
- P&L analysis is limited.
We hope our recommendations has helped shed some light on the different platforms out there. With so many to choose and all of them claiming to be the best, it can be hard to narrow it down. Use our guide to help and good luck.