It’s possible to make lots of money trading stocks. But for that to happen, you need to use the most powerful tools available. And this is exactly where pundits draw comparisons in the Trade Ideas vs StocksToTrade duel.
These are some of the world’s most sought-after stock screeners. So, naturally, people want to find out which one of them is better and why.
If you’re looking for such information, you’re in the right place. The following few paragraphs contain all the details you need to know about these two so you can make an informed buying choice.
Briefly About Trade Ideas
This stock market screener has been around since 2002. One thing that stands out about Trade-Ideas (TI) is its ability to respond to technological changes.
In particular, they’ve moved from a Level II kind of screener to one that goes beyond the basics. That’s in response to changing market dynamics that naturally require you to be ahead of everyone else so that you can win.
So far, their AI system called Holly has gained immense popularity as it has been helping investors beat the S&P hands down. And besides Holly, other features such as backtesting tools, chart windows, and oddsmaker stand out.
StockToTrade in Brief
StocksToTrade (STT) was invented seven years after Trade-Ideas. Yup, that’s in 2009. But despite coming to the limelight later, this screener has seen its popularity rise dramatically throughout the decade.
It has particularly been made popular by Tim Sykes who is one of the world’s best-known penny stock trading gurus.
Another thing you need to know about STT is that besides being a stock scanner, it provides charting and paper-trading capabilities.
Plus, if you still prefer digging into Level 2 data, STT will provide you with all that data. You probably won’t need all that data if you’re looking for a hands-off stock-trading method.
Talking about that, hands-off trading, StocksToTrade provides you with Oracle which is a relatively good AI tool for analyzing stocks.
Similarities Between STT and TI
There are quite a few similarities between these two services. It’s no wonder potential stock screener users find it difficult to tell them apart. Some of the similarities include:
1. Backtesting Capabilities
We all know just how important backtesting is when it comes to developing a successful trading strategy. And fortunately, both STT and TI provide you with the means to do exactly this so that you can test if there are technical or theoretical flaws in your strategy of choice.
STT provides what it describes as “Realistic paper-trading” which enables you to sync your trading strategy with market data so you can get accurate fills.
The TradeIdeas backtesting functionality is almost similar to what you’d get if you opted for STT. One thing that sets the TI backtesting functionality apart, however, is something known as “event-based backtesting.”
Using TI’s proprietary software, you can simulate how going long or short on different market events would have affected your investments. This makes it easy to zero-in on specific historical events/data rather than testing on random historical data.
2. Brokerage Integration
It’s easier to win trades when your stock screener directly links to your brokerage account. And the good news is that these two platforms provide such functionalities although with limitations.
Trade-Ideas recently partnered with Interactive Brokers and they are now providing brokerage integration and auto-trading.
However, TI brokerage integration is limited to Interactive Brokers for now although there are plans to add more.
StocksToTrade provides you with diversity as far as integration with brokerage account is concerned. You can seamlessly connect this stock screener to:
- Interactive Brokers
- Ally Invest
- Capital One
Besides convenience, most brokerage integration opportunities provide you with the opportunity to enjoy commission-free trading easily.
3. Reliance on AI
It goes without saying that these two rivals heavily rely on Artificial Intelligence. That is, they have bots that analyze the markets for you and generate trade ideas for you.
STT uses Oracle, an artificial intelligence and big data algorithm that provides you with 1-click access to the 15 most active stocks of the day. What’s more, each one of these is provided along with pre-determined entry and exit points.
TI, on its part, uses Holly. It’s a big data algorithm that’s known for beating the market back-to-back. With it, you get access to dozens of trade suggestions that are compiled complete with risk analysis.
We like the fact that Holly is highly accurate and easy-to-use. Plus, it’s great to see that TI provides Holly in 3 different packages which you can choose depending on your risk appetite.
Honestly speaking, if you’re looking for in-depth stocks news, you’re better off settling for Benzinga. Neither TI nor STT provides in-depth news updates.
That said if basic news updates on developments that are likely to have significant effects on the stocks markets are what you’re looking for, either of these tools will suffice.
Indeed, Trade Ideas and StocksToTrade are designed to provide you only with news alerts that matter. That’s unlike Benzinga which bombards you with all kinds of stocks markets news updates such that you need to use some filters to avoid informational overload.
And now, it’s time to know which factors set these two popular scanners apart. Hopefully, this will make it easier for you to determine which one is best for you.
These are probably the most expensive stock screeners out there. And so, if you’re extremely on a tight budget, this might be a big factor for you to keep in mind.
Trade Ideas provides you with two packages. The first one, Standard, $118 per month. It provides limited access to AI and also zero brokerage integration.
If you want to enjoy the full package, you’re better off with the Premium package which goes for $228.
STT, on the other hand, only has 1 pricing plan. And it goes for $179.95 per month. It doesn’t provide you with auto-trading, though.
2. Free Trial
There’s no free trial for StockToTrade. However, you can still enjoy a nearly free 7 day trial period which currently costs $7 for the entire week.
So, you part with 1 buck to experience all the benefits of STT and if you happen not to like it, all you need to do is cancel your subscription before you’re automatically surcharged for a full subscription price.
On the other hand, Trade-Ideas does provide a free trial opportunity for all. This package provides you with a free stream of trade ideas which are, however, delayed for 20 minutes.
Another thing that comes with the free trial is free stock trading training from TI’s in-house tools and team.
With STT you end up with above-average charts that come with most of the tools you need for accurate analysis. The charts contain Level II data and provide you with the flexibility to load your favorite indicators.
TI, on the other hand, focuses on simplicity and leaves their advanced AI technology to do the heavy-lifting for them.
So, what you get are pretty simple and clean charts with just enough customization options.
That said, if you’re a big fan of stock market charts and like to draw things on them, you probably are better off with advanced charting tools such as TC200 and TradingView.
Pros of Stocks To Trade
- Above-average charts
- Daily trade alerts
- Good paper-trading simulator
- Ideal for intra-day and swing trading
- At $179.95 per month, it’s quite pricey
- Infrequent software lags reported
Pros of Trade Ideas
- Highly easy to use
- Timely trading alerts
- Provides free trial accounts
- Free complimentary training provided
- Great results and track-record so far
- Their charts lack 1M and 5M time frames
- Limited chart customization options
Each one of these two is a great stock market scanner. However, none of them is cheap. In terms of value for money, we think that the premium tier of Trade Ideas offers the best deal available. Even though it costs a hefty $228 per month, it’s possible to recoup that cost easily even when you’re running a busy work-related or academic schedule.