AI Trading Software: 7 Most Specified Ones in 2022

Investing has always been a tricky business. This is because of the volatility in the market, with some stocks soaring and others crashing at any given moment. The boom in AI-powered stock trading software over the last few years has helped investors to navigate these murky waters more easily by automating their trades or even predicting them.

We have compiled a list of the AI trading software that is being most specified in 2022.

AI Trading Software

AI Trading Software is software that can trade stocks, commodities, and currencies with the help of artificial intelligence. Artificial intelligence is being used to analyze data in order to make investment decisions faster than humans are able to do. This type of software is becoming more popular as it has shown high profitability rates without any form of human intervention for up to 10 years.

The purpose of this blog post will be to discuss how the following AI stock Trading Software works and what they do so you can decide if investing in the software would be worth your time or not.

1.Trade Ideas

What is Trade Ideas?

Trade Ideas is an online trading platform and social network for financial professionals. Their users can make stock picks and compete with other users in a virtual stock market called “The Idea Stream” to generate profits for their portfolios.

The stock trading software in a nutshell:

• A trend prediction engine for traders
• Stock picks automated technical analysis by active traders with self-regulation on submissions
• Submitted picks go through a review process before going live in the Idea Stream
• Tracking tools so you can follow your past picks and get notifications when they update
• Share ideas, track portfolios, and view the Idea Stream on the web or mobile app
• Customizable alerts that can be set up by stock or strategy
• Includes industry news from an aggregation of sources as well as a blog with daily posts written by Trade Ideas’ analysts

What do they do?

They use artificial intelligence to analyze data such as news, and investor sentiment in order to generate trade ideas. These trade ideas are then shared with the community so other users can research them and potentially use them for their own portfolios.

How does it work?

As a trader, you can submit your ideas (stock picks) into the Idea Stream (social media platform), where other traders can view them. If an idea gets enough views, it will be featured in the Top Ideas section of the stream, which are all stock ideas that have performed the best over a 7 day period.

If your pick is chosen to be featured in one of these Top Idea spots, you’ll get points towards the Trade Leaderboard. At the end of each month, $850 in Amazon gift cards are given to the top trader on the leaderboard.

Points are also awarded for getting your ideas featured in other ways throughout the Idea Stream platform that aren’t assigned by competition.

Trade Ideas uses machine learning algorithms to analyze unstructured data such as news articles, company reports, earnings call transcripts, etc., along with structured data like financials and sentiment scores. They then use these algorithms to generate their trade ideas. Even though they are not the only ones doing this, they do have a larger dataset than other investment research firms. For example, they currently monitor more than 16 million companies worldwide and analyze over 300,000 news articles every day.

This makes it very easy for users to find actionable trade ideas that aren’t given out by other trading platforms.

Pros

• They have a large dataset that allows them to generate more actionable trade ideas than other investment research firms
• The automated technical analysis platform is social which gives users a chance to network with each other and share their strategies to buy and sell orders
• It has a very easy to use interface

Cons

• It’s been under heavy criticism from the financial industry for being a form of high-frequency trading style and challenging the traditional methods

2. TrendSpider for Stock Trading

What is TrendSpider?

TrendSpider is a service that provides real-time analysis of millions of web sources for breaking news and trends, along with detailed company research on over 500,000 global companies.

The stock trading software in a nutshell:

• Free version that allows you to monitor up to 5 companies
• Machine learning algorithms help discover actionable investment ideas in near real-time
• Detailed company profiles and financial data on over 500,000 companies in 100 industries across 80 countries
• Ability to set up email alerts for news on the companies you choose
• Deep analytics on each company including financial, social media, and website data
• Trend analysis for industries and global markets

What do they do?

They have a product called TrendSpider Alerts, which is an algorithmic tool that uses machine learning techniques to extract breaking news and trends from a huge range of publicly available sources. These alerts are then organized into a dashboard so you can monitor them more easily. Think of it as a more efficient version of Google Alerts.

The stock trading software also allows you to research companies in order to find investment ideas. The company profiles include everything from social media and website data, all the way to financials and analyst recommendations.

How does it work?

TrendSpider uses a machine-learning algorithm to generate actionable investment ideas by monitoring millions of web sources in real-time. The algorithm analyzes data on companies, industries, and the global economy.

TrendSpider’s AI algorithms process more than 2 petabytes of unstructured text daily. This means that they can monitor market-moving news stories before other investment research firms.

This is how it works:

• You can search by company name and see their business profile
• You can set up email alerts for any of the companies you choose
• They provide news on each company such as earnings, mergers & acquisitions, debt, etc.
• It monitors social media to help gauge public sentiment on a certain stock which allows you to find out if people are positive or negative about it
• They provide detailed information on the company, its competitors, and the industry in which they operate
• You can also do some stock screening using their machine learning algorithms to generate ideas based on your search criteria

For example, you can input “Apple” into the tool and it will provide you with a list of ideas:

Pros

• It has lots and lots of data and the more information there is, the better your chances are of getting an accurate predictive model
• The interface is super clean and easy to use
• 7 day free trial period to test out the stock trading software before buying it

Cons

• No free version available to try out without giving credit card information

3. Black Box Stocks

What is Black Box Stocks?

Black Box Stocks is a digital investment platform that uses artificial intelligence and machine learning algorithms to generate its trade ideas. It was founded by Jean Marie (“JM”) Belloir, who is a former hedge fund manager and founder of two algorithmic trading style firms.

The platform is a service that provides real-time analysis of financial markets together with actionable trade ideas for traders, investors, and analysts. In addition, they offer a community forum where anyone can discuss market conditions and share their insights on investing in various stocks.

What do they do?

They analyze data in order to predict the best times to buy and sell securities. To do this, they use machine learning algorithms combined with analysis of global news stories, social media sentiment, price movements, financial reports, technical indicators, and company-specific information.

On their website, they have a few main sections: Research, Community Forum, Sentiment, and Alerts

• The research section includes market overviews, earnings per share (EPS) estimates, price targets, analyst recommendations, stock trading ideas, reports on insider stock trading (positive or negative), etc.
• The community forum is where you can discuss anything related to investing with other people in their community. You can share your opinions and insights on any topic you’d like. This allows you to get feedback from other users who may have also done some research on the same company or stock
• The sentiment section is where you can see what everyone in the community forum thinks about a particular stock, industry, market, etc. This information is generated from analyzing millions of pages of text
• And finally, the alerts section allows you to set up custom notifications for when certain events happen (positive or negative) on a stock, company, industry, etc.

How does it work?

• First, you have to create an account and verify your email address
• Next, you have to set up a portfolio for the companies you want to follow and monitor. You can also add portfolios from other users as well
• There’s a forum where other users discuss the stock market and share their insights on investing in companies
• You can also share your own investment insights and knowledge with other users
• They have a chat box where you can ask questions to other users or to the company if you need further clarification before executing a trade

So, for example, let’s say I want to set up a portfolio using Apple as an example:

I can set up a different portfolio for each company so I can view trade ideas on all of my stocks at once.

Pros

• It’s very simple to use and the interface is very clean
• You can set up a portfolio for each stock you’re interested in portfolio management

Cons

• It does not provide any fundamental data on the companies it provides trade ideas for future performance on the basis of past performance for retail investors by technical analysts

4. EquBot for trading in Stock Market

What is EquBot, Inc.?

EquBot, Inc. (EQBOT) is a financial technology company that designs and sells AI-powered algorithms. EquBot has developed an artificial intelligence software platform called EquBot™ Builder, which allows anyone to develop automated stock trading strategies using a drag-and-drop interface without any programming or math skills. In addition, Equbot Inc.’s EquBot™ Builder offers users the ability to backtest stock trading strategies across multiple markets, timeframes and instruments.

• The stock trading software in a nutshell:
• It’s a customizable artificial intelligence platform that allows anyone to build algorithmic stock trading strategies
• You can backtest your strategies on various financial assets like stocks, commodities, and currencies using historical data
• It uses artificial intelligence algorithms in order for the stock trading software to be able to recognize patterns and come up with actionable trade ideas
• The user can customize the actions to take when a trade idea is recognized (i.e. place a new order, modify an existing order, etc.)

What do they do?

Equbot Inc.’s flagship product is called EquBot™ Builder, which allows anyone to develop automated stock trading strategies using a drag-and-drop interface. In that sense, it’s similar to the Trade Ideas platform as you simply select an indicator or specification from a list, then drag and drop them into a workspace where you can see how they interact with each other.

How does it work?

You can access their trade ideas directly through your brokerage account with Interactive Brokers or you can access them via its website. It integrates with different brokers such as Interactive Brokers, TD Ameritrade, Fidelity, Thinkorswim, and more.

Pros

• You don’t need to provide any credit card information to try it out for options trades in day trading
• It has an easy drag-and-drop interface where you can set up different stock trading strategies without any coding knowledge

Cons

• The trading ideas are not very accurate when compared to other platforms on the list

5. Kavout

What is Kavout?

Kavout is a cloud-based web platform that provides trading options, market strategies, and price alerts. It was created to help traders from all over the world develop successful stock trading strategies using machine learning techniques and artificial intelligence algorithms.

The stock trading software in a nutshell:

• It has a very clean and intuitive interface
• Users can build automated stock trading strategies using simple drag and drop UI
• It uses artificial intelligence algorithms in order for the stock trading software to be able to recognize patterns and come up with actionable trades ideas in case of huge losses markets/stocks for stocks expert advisors
• Traders can customize what your market strategy does once a signal is recognized (i.e. place a new order, modify an existing order, etc.) and you don’t have to pay extra for that.

What do they do?

They have an interesting take on trades ideas as they’ll not only show traders technical analysis but also provide the fundamentals of the company being analyzed before market closes, which is great if you’re looking to find undervalued stocks. Their platform takes into account many pieces of data, including earnings revisions, analyst recommendations, and more.

How does it work?

Kavout is the only platform on the list where you can either subscribe for a premium monthly plan or pay-as-you-go. You will have to create an account in order to be able to take advantage of their trades ideas. Kavout integrates with Interactive Brokers, TD Ameritrade, and eOption among others.

On its pattern search engine, you can see a list of different stock trading strategies that other users have created with the platform.

You will need to provide your E*TRADE login credentials to try it out. Kavout is a cloud-based platform and so all the data and strategies you build are accessible anywhere in your login form.

Pros

• It’s free to use, you don’t need to provide any information aside from creating a username and password for remarkable success
• It can be used for informational purposes for in depth market trades by investors, expert advisors, stocks traders and day traders

Cons

• There are some complaints about trading bots payment options not being available in certain countries outside of the United States for swing traders
• No money-back guarantee for stock charts

6. Zignaly for Automated Trading

What is Zignaly?

Zignaly is one of the self-service crypto automated trading systems that give you trading opportunities to fully automate your trades as per trading rules using their Artificial Intelligence solution according to the market conditions. Their goal is to help active traders maximize their profits and minimize the risk by creating a smart, transparent, and trustworthy crypto marketplace for the stock price and stock exchanges.

The platform in a nutshell:

• You can build automated stock trading strategies using simple drag and drop UI for day trading and technical analysis using their educational resources
• The automated systems uses artificial intelligence algorithms plus advanced programming language to recognize everyday life stock price patterns and come up with trading ideas for option traders, breakout detection, day traders, win rate, in depth market trades in multiple timeframes
• It provides different types of market analysis tools and swing trading options for trading success which are helpful if you’re looking for undervalued coins

What do they do?

It’s an interesting approach as they’ll provide different types of analysis tools, which are great if you’re looking for undervalued coins. The platform also uses artificial intelligence algorithms to recognize patterns and generate stock trading opportunities.

Zignaly is a Cryptocurrency stock Trading Platform with fully automated trade execution. It automatically executes trades on supported exchanges based on user-defined strategies.

How does it work?

For you to get started, all you need to do is link your crypto exchange accounts, choose a strategy and let Zignaly do the rest. Their platform integrates with Binance, Bitfinex, Bittrex, Kraken, and Kucoin.

On their website, you can see a list of different stock trading strategies that other users have created with the platform. These include a few simple strategies ranging from a low-risk strategy to one with high returns.

Pros

• You don’t need to provide any information aside from creating a username and password to gain access for swing trading using the ai systems pattern search engine
• It’s free to use, you don’t need to pay any monthly fees or commissions for most traders including retail investors etc.

Cons

• Some of their automated trading strategies are only for financial markets
• You need to connect Zignaly trading bots to an exchange account in order for the platform to work

7. Meta Trader 4

What is Meta Trader 4?

Meta Trader 4 is a professional forex stock trading platform that provides algorithmic stock trading, social analytics, and other advanced features. Unlike the previous platforms in this list, Meta Trader 4 is a desktop-based application that can’t be accessed through your browser.

The software in a nutshell:

• It has a large user base and allows you to develop custom strategies using their advanced programming language, MQL4.
• It’s free to use, you don’t need to provide any personal details aside from creating a username and password
• It provides real-time analysis of different stock trading instruments for many traders in day trading
• The platform has day trading charting tools and chart windows that can help you with technical analysis of live market trading.

What do they do?

Their platform has a large community of users and is very popular in the forex industry. It also contains advanced features such as an economic calendar, social analytics tools, and technical indicators for faster stock trading. It’s ai stock trading bots assist you in

Meta Trader 4 offers many features for both beginners and professional traders including charting, backtesting, automated trading strategies using MQL4/MQL5, and more.

How does it work?

It’s a desktop automated trading platform that you download and install on your computer (Windows or Mac). You can then access it by logging in with your username and password. You can use this automated trading system AI stock trading bots for artificial intelligence trading signals, historical data-based trading opportunities, the better trading idea with an easy trading process.

To get started, you need to download the platform from their website. Once you’re done with that, just log in and add your automated trading account. You can then create an automated trading strategy using MQL4 or use an existing one from other users on the platform. The platform provides several modules for creating automated trading strategies including Time & Sales, Text Screener, and stock Market Analyzer.

Pros

• It has an easy user interface, no prior experience is required
• It offers professional tools for both beginners and experienced traders

Cons

• It is not completely free to use (the free plan is limited to what you can do on the platform)
• You need to download the platform in order for it works (not available on the browser)
• The software might be difficult to use for beginners

Conclusion

Be sure to check out the list of AI trading software we’ve compiled above and see which one best suits your needs. They all have different features, so it is a good idea to explore them before making a decision that will affect how you trade in the future! Remember–you don’t always need an expert trader with years of experience at their disposal when there are these great pieces of software available for use online. There’s no time like now to get started on finding what system is right for you.

For me, it was Trade Ideas. Trade Ideas has several different features that make it such a valuable asset for traders of any level. It’s the only platform that brings together leading researchers and web scrapers from around the world to give you trade data automatically updated in real-time. All other platforms use free robots, which are highly unreliable – especially alongside providing old or inaccurate data. Trade Ideas provides all fundamental information calculations, allowing users to take back control of their time while still gaining access to advanced alpha signals at their fingertips whenever they need them. Trade Ideas allows traders of all experience levels to consistently generate weekly profits with minimal time and effort. It removes the guesswork, uncertainty, and emotion by using tried-and-proven market algorithms that have been demonstrated to earn consistent profits in bull or bear markets.