If you are just getting started with trading then you probably asked yourself where to start. There are so many trading products, stock market prediction tools, stock market analysis tools, online trading software that it is often hard to separate the wheat from the chaff.
Even if you are already a seasoned trader another question that might come to your mind is whether it makes sense to switch system or tool or any other related topic. You obviously would like to get rid of information overload and get on the right track.
TC2000 – Best Value
Pros
- Robust scanning and charting tools
- Easy to Use Interface
- Rich graphics
- Beginners can practice trading using their strategies on a virtual similar
Cons
- Filter systems need to be used to avoid becoming overwhelmed by the amount of data
Visit TC2000on TC2000’s website
TC2000 Review
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.
JStock
JStock is a free and open source stock analysis software for Windows. It is one of the simplest stock market analysis tools in this list. Different tabs to have a watch over stock markets are available on the main interface. The main tool for stock market analysis is Stock Watchlist. Let’s check out its functionalities.
- Here, you can search for a stock market from Stock search box and add it to the watchlist to analyze related market activities. As per its claim, it contains information on 36 stock markets from America, Africa, Asia, Australia, and Europe. Some of the major stock markets include DOW JONES, NASDAQ, TSX, SENSEX, AEX, JSE, etc. As you type initials of a stock, the suggestions for stock exchanges are displayed. So, you can easily choose the one you want to add. It lets you add multiple stock markets to the Stock Watchlist. You can also create customized stock watchlists.
- The real-time information fetched regarding the corresponding stock includes Code, Symbol, Buy, Buyer Quantity, Sell, Seller Quantity, High, Low, Change, % Change, Fall Below, Rise Above, etc. values. These information are provided on the main interface itself.
- On clicking a stock market, you can view data over a time period (last week, month, year, etc.) in a separate window (see full screenshot). This data is represented by price, volume, and Commodity Channel Index (CCI) graph. On hovering mouse over a particular date, you can see stock market information like Open, High, Low, Volume, Close, 14w CCI, etc. From Technical Analysis menu, you can choose a particular indicator for graphical representation. These indicators include EMA, SMA, RSI, MFI, and CCI. You can select Price Volume or Candlestick as the type of chart. JStock provides the flexibility to save this graphical data in CSV or XLS format. As it suits you, it lets you change the theme (Dark or Light) of the graph window.
Apart from above-mentioned features, it provides tools like Stock Indicator Scanner, Stock Indicator Editor, Portfolio Management, DriveWealth Trading, etc.
JStock is another great stock analysis software for Windows. It also supports other languages apart from English, including Chinese, French, German, and Italian. You can also change the interface skin. It is available as an Android app too.
TrendSpider – Best for Advanced Charting Systems
Pros
- Automatic Multi-TimeFrame Analysis
- Easy to use backtesting
- Automated Trend Line Detection
- Real-time exchange data
- ETFs, stocks, Forex, Futures, Crypto and Indices
Cons
- No social platform
- No auto trading
Visit TrendSpideron TrendSpider’s website
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 – Best Premium Software
Pros
- Simple system development
- Easy to use, beginner friendly
- Social First, Publish, Chat, Follow
- Real time exchange data globally
- Quality stock screening
- Trades forex, stocks, cryptocurrency in the US and globally
Cons
- No real-time news
Visit TradingViewon TradingView’s website
TradingView Review
TradingView offers its clients its software for free, however, it is recommended that you go PRO+ for a price of $19 a month, or purchase the Premium package priced at $39 a month which offers extensive benefits including priority customer support.
The brokerage also offers access to high-speed data, which allows clients to access stock markets around the world. Provided that you know how stock trading works, this is a great boon. The firm also offers coverage on mutual funds, futures, forex, ETF’s, bonds, and cryptocurrency, all included in the package fee.
Features
TradingView stock analysis software is available on PC. The software is an HTML 5 application that runs through Cloud. When you initially launch the software, the HTML 5 code will download automatically, and run smoothly (in most cases) from there.
TradingView offers full broker integrations that enables you to place trades using charts and you won’t need to worry about analysis, or reporting your profit or less because it will all be taken care of for you. That said, stock options trading is not covered.
Another highlight of the stock analysis software is its fundamental scanning and screening. This covers filtering and real-time scanning, and of course, watchlists.
The sheer size of fundamentals available for you to filter and scan through is substantial. The amount of economic data including World Economic Growth and Federal Funds Rates is insane, all with thanks for the QUANDL database connection.
TradingView Community
The platform also supports moving averages and hosts an active community of its own. Together with a very informative news section, the social sphere that Tradingview provides shouldn’t be underestimated—you can learn a lot from fellow traders.
News feeds offer Kiplinger, Futures Magazine, DailyFX, StockTwits, and FXStreet. Not to mention, the social network, which combines beautifully. The news section is only beaten by MetaStock with its Reuters Feeds.
Advanced traders will appreciate the huge selection of 160 indicators, and fast charts like Kagi Charts, LineBreak, Heikin Ashi Charts, and Renko Charts. The systems, back testing and automation scores average.
The userbase of the platform actively develops and sells analysis systems. If you opt for the premium service, you can also sell your own. On top of that, numerous community-made indicators and systems are available free of charge.
The one thing that clients cannot do is forecast and implement Robotic Trading Automation. For this, MetaStock is a better option.
Last but not least, the platform is intuitive and easy to set up. There’s no installation per se, nor will you have to provide any personal data to get started.
Scanz – Best For Day Traders
Pros
- High quality stock screener
- Easy to use
- Smart real-time news
- Big suite of broker integrations
Cons
- More expensive than some competitors
Visit Scanzon Scanz’s website
Scanz Review
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.
NinjaTrader: Best for Automation
Pros
- Competitive fees
- Excellent educational material
- Quality platform
- Great research tools
Cons
- Higher withdrawal fees than competitors
- No mobile app
- Assets limited to futures and options on futures
Another big player in the game for stock analysis is NinjaTrader. This software offers traders customized options and third-party solutions to help sort out any problem. Traders can benefit from all the general features, like charting, technical indicators, research tools and fundamentals.
Where NinjaTrader really stands out though, is with its trading simulator. This feature allows investors to practice trading strategies and get a sense of the current environment, without any of the risk.
NinjaTrader also shines due to the fact that traders can use its advanced charting, backtesting, and trading simulator free of charge.
Conclusion
As technology advances, so does the stock market. Therefore, the tools used to predict the stock market are changing. Nowadays, there are many different types of tools being used for this purpose.