As a stock trader, one factor that will determine your level of success is the kind of trading software you use. And indeed, Trendspider is one of the most popular programs you'll find out there as it is designed to make technical analysis a walk in the park.
However, even with its popularity, the service is not entirely perfect, and this brings out the need to sample out alternative platforms that might be similar or even better.
Let's have this discussion to see why you might need to make the switch. Further, we will provide you with a list of the top Trendspider alternatives worth considering.
Alternative Platforms to Trendspider in 2023
Now that we know some of the significant shortfalls of Trendspider, let’s now look at the alternative programs available. We shall have a brief comparison with this program and see how they make up for the disadvantages.
1. Trade Ideas
When you look at both Trade Ideas and Trendspider one thing boldly stands out – and that is the fact that these two were created with busy traders in mind. Indeed, they both provide a truckload of automated features all meant to ensure that you can still pursue other obligations in life and never miss a key moment in the stocks markets.
If you’re tired of Trendspider and looking to try something new, we’d definitely recommend Trade Ideas as it is stable, well-built, and highly effective.
What’s more, it provides you with seamless integration to Interactive Brokers to make it super easy for you to open and close trades when time is of the essence.
The only area where TI lags behind Trendspider is in the variety of items you can monitor or trade. So far, Trenspider has a really good presence in the crypto and futures front while Trade Ideas remains largely focused on stocks and options.
Overall, we believe that (hands down) Trade Ideas provides better value for money. And for that, you should also expect to part with a pretty penny (though you’ll probably recoup your investment with the first few trades).
If you find Trendspider a bit boring and somewhat rigid, Tickeron is definitely an alternative worth considering. This company has done a stellar job of incorporating the power of social media into the world of trading. This is way unlike what Trendspider offers. Here you get an interactive marketplace where you can freely interact and learn from seasoned experts.
And that's not all; the kind of training Tickeron is one step ahead. Why so? Unlike Trendspider that only provides training via documentation only, Tickeron provides that plus webinars, in-person training as well as live chats. This way, you get to more than one way to interact with educational content - and that also means a better chance to learn faster.
Perhaps the only area where Tickeron falls behind Trendspider is that while the latter is available on Android, iOS, and SaaS platforms, Tickeron is only available on Android and SaaS platforms. We look forward to the guys behind this potentially excellent service launching an App for all the awesome iPhone and iPad users out there. Otherwise, great alternative!
Sometimes, people believe in a service because it has been around for long and has a proven track-record. If you fall in that category, consider going for TradingView.
This is a well-established service provider and with an impeccable history. Plus. Unlike Trendspider which tends to be slow in rolling out new features, TradingView is always introducing new tools and possibilities.
What’s more, we absolutely like the fact that this alternative takes social trading seriously. Once you become part of the family, you’ll enjoy convenient access to exclusive platforms where you can interact, copy and share ideas.
We all know how badly Trendspider fares in this sector.
And that’s not all, TradingView is home to a wide variety of custom indicators that enable you to stay ahead of the pack when it comes to detecting new opportunities on the charts.
At a glance, it may seem like Scanz and Trendspider operate similarly. However, upon further digging, you will realize that a couple of differences exist.
First off, Scanz, as its name suggests, is more of a scanner that enables you to filter out different stocks as per your preferences.
On the contrary, Trendspider focuses on providing its users with the latest, hot stocks on the markets.
Another key difference is that Scanz is definitely better than Trendspider at broker integration. As such, it enables you to seamlessly identify trades and execute them. So, if smoothness is what you crave, you know where to turn.
That said, we must admit that Trendspider has an edge over Scanz when it comes to platform support. Whereas this program can work with Android, iPad, iPhone, and SaaS platforms, Scanz only supports Mac and Windows.
Hopefully, the developers at Scanz are working really hard to bridge that gap.
If you feel like Trendspider’s features are too complex for you, TC2000 is a program that you should consider going for. First, its charting is pretty basic and yet hands-on.
Next up is the scanner whereby TC2000’s EasyScan is limited to your watchlist rather than the entire stock market. The simplicity and versatility of this scanner are some of the reasons why top traders prefer TC2000 to the competition.
In our honest opinion, TC2000 is the kind of stuff you should go for if you’re a disorganized person. Don’t be ashamed of it, science has proven that disorganized people are actually more productive than ordinary people.
This particular platform provides you with advanced features that make it super easy to organize your trading. You can even jot some notes, highlight stocks etc on one interface.
Above all, whenever you launch the platform, the software immediately recalls your charts and organizes them for you along with any notes you may have jotted down.
Need we say more?
Above all, TC2000 takes community trading seriously. It provides you with a fully equipped chart room that is well regulated, interactive, and resourceful. Social trading is something Trendspider does really badly.
6. BlackBox Stocks
Black Box Stocks is another viable alternative if you consider Trendspider’s features to be too advanced.
Just like TC2000, Blackbox provides you with highly customizable charts. Plus, they’re a breeze to use – you can even include key notes and studies on the charts.
And that’s not all, their newsfeed is absolutely out of this world. Instead of leaving you to be bombarded with tons of headlines per day, the developers behind this platform went a notch further to provide some built-in features to enable you only keep tabs on what matters to you.
The icing on the cake is that Blackbox Stocks also provides you with alerts at your fingertips. Based on your trading preferences, the system can automatically alert you whenever it detects stocks with high activity. This pretty much ensures you have a front-row seat at almost every key trading moment available.
That said, we only wish that BlackBox could be made available via Android and iOS. For now, it only works on SaaS platforms, unlike Trendspider.
There are several areas where Finviz seems to make up for the flaws that may discourage you from investing in Trendspider. Let’s start with the training where Finviz offers you training via documentation and online too. This allows you to go for the option you are most comfortable with.
Note that, Trendspider is limited in this aspect, whereby it only provides you with documentation-based training.
And when it comes to executing your strategy, Finviz is integrated with Alpha Bot brokerage to ensure you get the process done with ease. This is unlike Trendspider, where no brokerage firm is integrated into the system.
We all know that one major flaw of Trendspider is the lack of community trading. Finviz goes ahead to provide a forum where traders and investors interact and exchange ideas. When you combine this community with the training, you’ll note a remarkable improvement in your trading prowess.
But if your deal breaker is customer support, you’d rather stick with Trendspider, which offers both online support and direct contact with the staff during business hours. Other than that, this is a fantastic program to try out.
Before heading on to try out MarketSmith, you should keep in mind that its differences with Trendspider are not that many. The main thing that sets these two programs apart is that MarketSmith is more of a financial research program, thereby providing more in-depth information than its competitor.
The significance of having more information at your fingertips is that it enables you to make more sound decisions.
Another distinction lies in the ease of use where you find Marketsmith’s features are simplified, and the learning curve is not as steep as that of Trendspider. Further, the information is presented in a way that is easy to understand and interpret.
As a result, you will have an easier time with Marketsmith getting trade ideas, evaluating stocks, and knowing when to buy or sell.
However, this alternative would have been better if it had broker integration to enable you to execute your strategies faster.
Why does ToS make it to our list of top alternatives to Trendspider? Well, we shall point out a few good reasons for this. Let’s start with the platforms supported where ToS has an edge over Trendspider.
Whereas Trendspider supports iPad, iPhone Saas, and Android, ToS supports the four platforms in addition to Windows, Linux, and Mac. So, you can switch to whichever platform you find most convenient.
Next up is the broker integration, where ToS has TD Ameritrade in its system to enable you to execute your strategy faster. This is an area where Trendspider falls behind most of its competitors.
If only ToS had a social platform where traders and investors interacted, it would have been an undisputed alternative to Trendspider. However, even with that flaw, it still has a lot in store for traders.
Other Substitutes for Trendspider
The nine discussed above are, no doubt, neck-to-neck competitors with Trendspider. But if you’re yet to find a match, fret not, we’ve got a few more potential substitutes worth considering. They include:
- MetaTrader 4
- Active Trader Pro
- TT Platform
- Venom Trading
Whichever flaws they may have, each of them is designed to ensure that you find the perfect stocks to trade in and make a kill within no time. So, it is up to you to decide which shortcomings you can put up with and which are the deal-breakers because either way, you will still need a trading platform to make it as a trader.
Why You Might Need to find a Replacement for Trendspider
As we stated earlier, the main reason for the need for alternatives to Trendspider is to fill in the gap left by its flaws. Some of its disadvantages include:
- To get started, you need to have some knowledge of technical analysis. Otherwise, the learning curve will be a bit steep
- Since the platform is relatively new, features are still being added, and not everyone can keep up with the changes
- Can only be used in one browser at a go
- Does not offer copy-trading
- Could have been better if social trading was available
We can all agree that Trendspider is one of the best technical analysis software programs you may ever find and will enable you to find the perfect stocks to trade in with ease. However, it has its fair share of disadvantages, thereby bringing about the importance of having alternative platforms.
Keep in mind that no program is perfect, and it is up to you to draw the line. Hopefully, you can find the best alternative from the various platforms we have analyzed so that you never get stranded as a trader.
Lastly, always consult with the established traders and investors around you before settling for a particular alternative program. After all, there is no sense in spending more on an alternative only to experience similar or even more pressing issues ahead.
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