Trading may sound like an easy and straightforward thing on paper, but those who have been doing it for long enough know just how unpredictable things can get. Fortunately, the growth of technology has seen the creation of powerful systems that can help enhance your confidence.
Two of these – Trade Ideas and TC2000 – have been in the markets for close to 2 decades. But have you ever wondered which one of the two offers the best package for your unique trading style? The following in-depth comparison is meant to help you find an answer to that query.
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Both companies have been around for close to two decades. However, TC2000 is the older one since it was established in 1997. Trade Ideas, on the other hand, was formed in 2002.
Both are US companies and have been part and parcel of our ever-dynamic stock and day trading markets. TC2000, in particular, was formed by a company known as Worden Brothers, Inc. The company is based in Wilmington, North Carolina.
There’s no denying that the company has grown in leaps and bounds over the last 21 years. In fact, TC2000 has so far amassed numerous accolades and awards from Bulls on Wall Street, Liberated Stock Trader, The Trader’s Magazine, and Warrior Trading.
More about Trade Ideas
Trade Ideas, on its part, has seen its fortunes rise over time. The company currently has a notable presence in over 19 countries across the world – including in the Canadian and US equity markets. They recently scooped an award at the 2015 Benzinga FinTech Awards and reportedly have over 50,000 traders as part of their premium membership team.
Now that we have a fairly good understanding of the backgrounds of the two, let’s now delve deeper into the real stuff.
So far, it’d seem like we have a tie. But here’s the tiebreaker. As you know, the price of a system can be a big factor especially for beginner traders who’d like to do anything it takes to save every penny.
Well, the TC2000’s most expensive package costs $90 per month (cheaper, lower tier packages exist). Trade Ideas’ most expensive package, on the other hand, goes for $228 per month (the standard package goes for $118 per month).
Both companies have huge discounts on their annual packages. For instance, if you buy an annual package of TI’s premium tier, you’d pay $2268 which is close to $500 cheaper than a month-by-month payment option. The TC2000’s annual package costs $900 which is close to $200 cheaper than if you choose to pay for the subscription on a month-to-month basis.
So, as far as pricing is concerned, TC2000 seems to be the cheaper one of the two. But as a good trader, it’s good to check what you get across the board.
What You Get With the TC200 Platinum Package
TC200 provides you with a helpful scan dashboard which makes it easier for you to understand what’s going on in the markets. In addition, you get the freedom to monitor up to 15 concurrent accounts in real-time. And to make sure you’re always up to speed with the ongoings on the market, you’ll get access watchlists of passing stocks.
The icing on the cake is the fact that you’ll be in a position to monitor up to 1000 alerts on trendlines, indicators, and price.
What You Get with Trade Ideas Premium Package
Under TI, you’d get the freedom to track over 20 charts, simultaneously. That’s in addition to receiving up to 500 price alerts, risk assessment services, and advice on entry/exit signals. But perhaps one thing that makes TI a tad different from TC2000 is its use of chart-based artificial intelligence trade assistance. Their AI assistant, Holly, stands out with her ability to offer real-time assistance to anyone that might be in need of a helping hand.
So, even though TC2000s is better priced, its package is quite limited as compared that what you’d find under TI. But the difference, really, boils down to your style of trading. If you’re a hands-on trader, the TC2000 would be just fine.
However, if you’re a hands-off trader who prefers to have nearly everything automated, we’d suggest going for TI.
TC2000 seems to have an upper-hand in this realm all thanks to its well-thought-out training programs. For instance, the company runs free nationwide training classes. The classes are designed to be collaborative. Attendants get an opportunity to experiment with the use of the TeleChart software which has made TC2000 popular as a go-to charting platform.
The best part is that admission to these classes is entirely free. For now, the training sessions are available in New York, Philadelphia, Washington DC, San Francisco, San Diego, Dallas, and Tampa.
Trade Ideas (TI), on the other hand, seems to lag behind in training. That said, all first-timers get an opportunity to schedule one-on-one training sessions with a TI staff member. However, this training is predominantly based on guiding one on how to use the platform.
On other days, one has to rely on regular webinars and occasional videos that are posted on their YouTube channel for training. We, genuinely think the training could have been better but it’s not too bad either.
Once again, your style of trading is the one which will help determine which service is best suited for you. Live Trading is recommended for traders who like being part of a community and accessing mentorship. However, some experienced traders may prefer to trade in a quiet environment so they can make their own analyses without any outside influence.
If you belong for the former group, we’d recommend going for TI. They offer an open and free for all live trading platforms. The platform works throughout the weekdays from 9 AM ET to 4 PM ET.
So, if you are looking for a mentor or an opportunity to observe what’s going on in different marketplaces, this platform would come in handy.
The TC2000’s forum seems to lag behind. Much as it’s a great place, we found it less active (and a bit disorganized) than the one TI provides. Therefore, if you’re looking for a warm trading community to fit into, TC2000 may be less ideal as compared to TI.
Both companies seem to have great customer service. So it’s a tie. Have any queries? You can simply shoot them to their hardworking customer service teams and rest assured to have them answered. For the case of TC2000, we found them to be quite responsive to queries sent through their website.
They were, however, a bit slow, unlike TI to respond to queries raised via their social media handles. Luckily, both have useful discussion forums. These are great platforms to learn and access useful answers to basic queries.
The TC2000 is a perfect platform for beginners and professionals. Its flexible pricing makes it a wonderful and safe option to settle for. Even if you’re skeptical, you can still shoot for the silver package just to get a look and feel of it. We’d recommend TC2000 for swing trading.
Trade Ideas, on its part, is a superior platform. We’d, however, recommend it for intra-day traders as opposed to swing traders. The system generates so many trading ideas and you’d always have your hands full from the minute you start using TI.
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