New to trading? Learn about setting up a brokerage account, best free trading software, what is stock market analysis, what you should know as a trader as well as stock trading terms and definitions. What do I need to know as a new trader? Which stock analysis app is the best for me?
You can learn more about stock trading software, stock market analysis app and best online trading platform for beginners here. We will focus on the what’s and how’s as well as specific ratings such as costs, features and benefits for each of the top free trading software programs on the market today.
StockRover
StockRover integrates with almost every large broker, including Fidelity and Firstrade. Although you won’t be able to trade from charts, it will look after the profit and loss reporting and offer recommendations on portfolio rebalancing
This software is most suitable for long-term investors and those looking to optimize their portfolio income. A high-point of the software is its stock scanning, filtering, and of course, its fundamental watchlists. The premium service offers traders more than 150 thoughtfully pre-built screeners, including a favorite, Buffettology screener.
Pricing and Plans
A free version of StockRover is available, and it is impressive. But the premium plus service unleashes the real potential of the software. Moreover, it comes in at a competitive price point of $27.99 per month. The analysis software runs on smartphones, Mac, PC, and tablets, with no installation necessary.
Features
For news and social media integration, StockRover shows information from Benzinga News and Yahoo Finance. Yahoo Finance has a lot of great articles and news regarding the fluctuation of the stock for example StockRover could predict that Microsoft stocks are great to be bought or if NVIDIA shouldn’t be bought right now. While they are not real-time, this shouldn’t be an issue for any long-term investors.
Using technical analysis and reading stock charts are crucial parts of trading. If these are a priority for you then it is worth noting that StockRover focuses on charting the fundamental financial strength indicators. In comparison, TradingView and MetaStock focus on hundreds of technical analysis indicators.
Now we know that StockRover is different from other software vendors, we can understand why it offers over 10 years of scanning possibilities and information—this is far better than almost all other stock screening packages.
For usability, the software can be set up within 15 minutes with no installation needed and no data feeds that need configuring. Even better, the software offers so many screeners and portfolios ready to be imported so that you can get started instantly.
TC2000
TC2000 offers its stock analysis software for stocks and funds in the U.S and Canada. This software offers watchlists, charts, alerts, news, instant messaging, and sorting features.
The coverage of fundamental data comes hand in hand with a backtesting function for historical data. Unfortunately, no automated trading tools are included, though, and it offers assets and classes that are limited to ETFs, funds, and stocks.
TC2000 comes with some other highlights like hundreds of fundamental and technical indicators, along with a big selection of drawing tools. It’s available for iOS and Android, and has a good reputation for being easy to use and fast.
MetaStock
Metastock is a staple in the world of stock analysis software—and for good reason. Released way back in 1985, this powerful tool has stood the test of time—and it still offers so much value that it easily earns the #2 position in our list.
MetaStock’s range of products offers all the tools needed to research stocks like a pro—with both technical and fundamental analysis. The MetaStock Xenith offers fundamentals, real-time news from Reuters, as well as data, analytics, and commentary from industry experts.
Traders can utilize the Daily Charts to get some after-market analysis, while MetaStock will assist real-time traders to reach their goals. The Refinitiv DataLink for MetaStock also includes historical data that reaches back all the way to 1980.
Features
A powerful charting software pulls stats at the end of the trading day from exchanges around the globe. Traders can buy separate plug-ins and add-ons for functions and customization.
MetaStock supports over 300 technical indicators and covers a wide range of assets, including ETFs, derivatives, mutual funds, equities, futures, forex, and commodities. And though MetaStock offers a wealth of data, it isn’t overwhelming, as it is quite easy to filter exactly what you need.
The core of MetaStock’s functionality are its proprietary PowerTools. This suite of pre-built systems allows you to backtest strategies, scan and filter the markets, generate buy and sell signals, and even utilize complex patent-pending technology to get a forecast of the probable future performance of securities.
To make things even better, all of these tools are customizable—but takes a bit of know-how. While the wide array of tools is no doubt powerful, they do have a bit of a learning curve—thankfully, mastering these powerful features is well worth it.
Something important to note is that MetaStock software is only compatible with Windows. Unlike StockRover, which is most suited to long-term traders, MetaStock is best suited to short-term traders who want to do stock market analysis after the market closes, or during trading hours.
Pricing and Plans
The software is available to buy as a once-off, or you can buy a monthly or annual subscription. The monthly subscription fees range from $69 to $300. On top of that, MetaStock offers a free 30-day trial.
MetaStock reigns supreme when it comes to technical analysis. Though some might say that it isn’t particularly user-friendly, that isn’t really the case—it’s more of a case that it offers so many tools that it can seem overwhelming to beginners.
At first glance, MetaStock might seem a tad expensive when compared to the competition—but it’s worth every penny. If you have the necessary knowledge and enough time to master this venerable piece of software, it will pay off in a big way.
Scanz
Scanz is considered one of the best options for day traders and has earned our best for day traders award for several reasons. This stock market software focuses on real time data and real time news straight to your screen. The pricing comes in average but offers a good amount for your money.
Data speeds are high, and users can benefit from the Chart Montage function that enables a powerful way of trading without the use of charts. Access a range of trading information including, level 2 data, and real time news.
Features
Scanz has a set of broker integrations that enables trading from charts, including from two giants in the industry, E*Trade and TD Ameritrade, and other leading stock brokers.
Access a library of fundamental screens, and a deal news section that is simple to implement, giving you all the goss on deals between companies, and contracts which can give you a step up in the game if you can quantify what impact the deal will have on the company’s bottom line.
Although Scanz does prioritize news, it falls on its social integration. There is also a lack of chart patterns and indicators.
The software does not score high on its backtesting as it is designed more for its technical analysis screening which is powerful, fast, and seamless. And in today’s irrational market, what a better time for technical analysts to shine?
This stock analysis software is easy to use, with a simple and intuitive interface that allows you to view liquidity data and buy from the charts directly.
TrendSpider
TrendSpider is a fairly new player to the technical analysis circle, but despite this, it has proven itself by using complex algorithms and a huge selection of securities for numerous asset closet, making it our top pick for charting platforms.
This analysis software enables traders to implement complex strategies and get notified at particular, pre-set trigger points.
Pricing and Plans
TrendSpider technology is innovative, fast and has some unique trendline automation, multi-timeframe analysis and trendline automation. In terms of pricing and software, TrendSpider offers an attractive starting point at $27 per month, including real-time data. It also covers a large range of assets from ETFs, futures, Crypto and forex.
Features
The software is full of technical analysis tools, ideal for anyone serious about market analysis looking to perform the job in a high quality and quickly.
Those prioritizing backtesting will be happy with TrendSpiders automated trend-lines that elevates the software into a leading package in the fintech industry.
Overall, due to the fact that this stock analysis software is innovative, traders should expect a learning curve to be able to utilize everything to its fullest.
TradingView
Recommended for all international Stock, Forex & Crypto Markets. For traders who value a great price, insanely good chart analysis & backtesting with a huge active social community. TradingView is an easy-to-use yet powerful platform.
TradingView Pricing & Software
You can have TradingView for free, and it is a review winner for our Best Free Charting Software Review. However, there are limitations. I would recommend going for the PRO+ at $19 per month or the Premium at $39 per month; the benefits are extensive, including priority customer support and unlimited everything.
Additional benefits of TradingView are fast data speeds and global stock exchange coverage. TradingView covers Stocks, ETFs, Funds, Futures, Forex, Bonds & Cryptocurrencies globally, making it the perfect choice for international investors.
Conclusion
There are so many articles written about stock market, stock trading strategies and best stock software. Stockmarket is a volatile place for new comers. If you want to get more from your investment in the stock market, invest in a good trading software a good free live trading room and a successful training course. Our aim is to provide quality information on where you can find some of the best stock market tools on the internet.