Best Stock Trading Software in 2024
Want to jump straight to the answer? The best Stock Trading Softwares are TradingView and StockRover.
The #1 Forex Trading Course is Asia Forex Mentor
The rising opportunities for online earning have lured various professionals from other businesses towards the American stock exchange. The flow of investments increased during 2020, which can be attributed to the excess free time due to the work-from-home routine. The New York stock exchange is currently operating at its highest market capitalization, a whopping $26.2 trillion. The average revenue traded is more than $260 billion. The statistics suggest that the environment is feasible for new investors to enter the market.
According to a survey in 2017, more than 90% of new investors entering the market quit within a year. The main reason for their exit is increased losses that hit their investments. It is psychologically proven that humans have a preference for loss aversion, which means that we are inclined to give up on profit for fear of equivalent loss. Hence, the exit of the market comes as a result of constant losses and fear of losing the hard-earned investment. Although the statistics might pull you back, it is vital to know the reason behind their failure.
The primary reason behind the failure of most stock investors is over-reliance on experts and no access to technical analysis tools. Most new investors believe that the self-proclaimed “experts’ ‘control the market, and their market analysis is the eventual truth. Hence, they avoid churning numbers independently and make trades solely on their recommendation. However, the mystical bubble bursts when the predictions of the experts start going wrong. The losses start eating their investment, and their confidence hits rock-bottom. Is there a solution?
The growth of trading platforms has brought a revolution for busy investors who don’t want to rely on gurus but can’t figure time on their own for market research. The newer platforms come with excellent automation options to help you make the most of your profits. Similarly, the technical analysis indicators are another great option that summarizes the market data in some charts that can provide useful insights within a few minutes. Thus, it won’t be wrong to say that your success in the stock market comes down to your trading platform and its stock analysis software.
However, the problem doesn’t end there. There is a sea of trading platforms that come with different varieties of technical analysis, which makes it hard to sort the best of them all. Most of them have positive reviews to support their technical indicators and brand. The confusion can be demotivating for most investors, and they want to have a precise understanding of how each of them is different and which is the ‘best stock trading software. Are you in a similar dilemma?
Then, you don’t need to look any further. In this blog, we will talk about the seven most popular stock trading software and how they have the capability to provide you with the ultimate trading services. If you are new to the business, we have got several other details to help you in your pursuit and reaching the final decision. Let’s go!
Best Stock Trading Software
#1. StockRover
Stock Rover is amongst the most customizable stock trading software available for general users. It takes users’ flexibility to a whole new level. Its existing educational resources provide users with a fantastic opportunity to improve their information about a subject and draft separate technical indicators for it. The automation bots pre-installed in the trading platform backtest the indicators on historical data and carry out technical analysis to determine their overall efficiency.
Screening is a highly commended trait of StockRover’s trading platform. The main interface of the desktop application is clutter-free and provides concise and readable information for all users. Despite the plethora of technical tools available, the trading software contains drawers that hold most options; hence, users can retain their attention on the most critical problems.
Another valuable feature for investors is the comparative efficiency of the application. Stockrover’s desktop application works on a filter-based system that can help you compare two different stocks in terms of their statistics, margins of safety, data charts, and much more. The comparison tools can also be used for mutual funds, ETFs, and options. The comparison feature helps investors identify more profitable deals amongst two different assets, which allows them to make more money.
Research and educational resources from StockRover are second to none; both the mobile and desktop applications include a research and education section integrated into them. The research drawer comes in handy for identifying the market trends and deciding whether the market is going to rise or fall in the future. StockRover’s trading platform also contains individual reports about each stock so that investors have a good understanding of the asset before they make the purchase.
Finally, the portfolio tracking feature puts it ahead of the rest in the race of best stock analysis software. As investors on StockRover can trade anything between stocks, ETFs, mutual funds, and options, it can often be perplexing to keep all records at one hand. Thanks to StockRover’s portfolio management, any investors can find out information about their portfolio and track how it performs.
#2. TradingView
TradingView claims its philosophy as “Look First, then leap ”; its main focus is on helping new investors learn about the market through a real-time demo experience and allowing them to trade with experts before they invest their hard-earned money in the market. The option to trade stocks in a simulation enables the investors to learn about the market without putting their investments at stake. The trading software has more than 30 million active users, rated it at 4.9 stars. The company claims that no other trading platform shares a better or similar rating.
A popular perk amongst the users is the ability to create custom scripts and share them on the platform’s community. The website suggests that more than 8 million scripts are shared on the market each month. TradingView is also popular thanks to its low-cost trading; the company charges a fairly small commission for its services. Most of the expenses are covered using the ad revenue. TradingView allows its users to operate in a free atmosphere, where the earning is made using ads on the website and mobile platform.
Another highlighted feature of TradingView is its fantastic trading software. There are three different ways to trade stocks using the brokerage account. You can use the website, mobile app, or desktop program. These applications come with detailed descriptions of the stock market and possess useful technical indicators.
However, the desktop application is a step ahead in its features compared to the other two. It has more than 100+ trade indicators drawn based on historical data that provide crucial information about the market. The easier access to information ensures that your trading strategy brings the most profitable results for you.
TradingView is famous for its numerous community-built indicators based on several trading strategies. The trading platform hosts more than one million technical indicators that active traders draft for personal and public use. A multi-frame option is also handy in simplifying the research process, as investors can analyze several indicators simultaneously.
#3. Zen Trading Strategies
If you are an investor looking for a break from the trading world and still make money from it, zen trading strategies can be your perfect partner. Zen trading strategies are among the few stock trading platforms that have created a hands-off trading circuit. The trading platform follows algorithmic trading, allowing investors to set specific rules or trading strategies that determine their profit target.
Once the rules are set up, the trading algorithm will carry out trades on behalf of the investor. As soon as the condition is achieved, the trading platform will take the necessary action.
Educational resources of Zen trading Strategies consist of detailed and descriptive lectures that explain each of the pre-installed trading strategies in detail. The videos also shed light on how the strategies were made and how custom strategies can be developed as experience increases.
To help investors in making final decisions, Zen trading strategies come with a community of more than 30 thousand users. The goal of the community is to allow experts to share their opinions and views about the stocks and market as a whole. The discussion provides valuable insights into the behavior of the market and what can be expected of the future.
Zen trading strategies are also famous for their unique mathematical indicators backtested with precision. The trading platform hosts eight sections of technical indicators, each of which follows a specific trading strategy. The interface allows each user to view the indicators and determine their efficiency in helping them move towards profitability.
Unlike other stockbrokers, the focus of Zen trading strategies has been on quality rather than quantity. The number of indicators available for technical analysis is fewer than other brokers. However, the accuracy and efficiency of these indicators in simplifying data feeds is a step ahead of the rest.
#4. eTrade
The brokers discussed earlier are new entrants into the market that have embraced the increased technological advancements in their trading software. However, Etrade is one of the oldest brokers on our list, and its reputation for efficiency makes it one of the most reliable. E-trade was founded in 1982 in California, united states, and it has spread across multiple continents during the past years, and the growth has attracted an audience of millions. Today, E-trade has a customer base of more than 10 million, and its headquarter is located in Virginia.
Online trading of digital assets has a higher risk, but Etrade’s mutual funds are a solution for most investors. The selection of stocks for the mutual funds is based on the precise prediction of indicators that can acknowledge for future growth. Diversification is an essential characteristic of the mutual funds’ portfolio, followed by Etrade. Any brokerage user can purchase mutual funds from the app after seeking guidance from real-time data and trading tools.
E-trade has earned a reputation amongst active traders due to its zero-commission trading strategy for stock traders. The policy includes all shares from the US-listed exchange and similar ETFs and options. There are numerous tools available to carry out a market analysis; nevertheless, Etrade has researched reports that come out at regular intervals.
These reports provide valuable ideas regarding investment strategies and how the market’s future may shape up. The stock trading platform of Etrade is based around the classic theme, but it contains all the latest options in a sophisticated manner that prevents any useless distraction for investors.
#5. TD Ameritrade
TD Ameritrade has earned popularity throughout its years of operation to its powerful trading platform. While the new entrants have recently launched automation features, TD Ameritrade was one of the few brokers across the united states to establish the profit and loss stop feature. The role of the algorithm was to provide ease to the investor by setting rules regarding the purchase and sale of the asset.
It is our oldest broker on the list and was founded in 1975 by Joe Ricketts. Since its inception, the headquarter of the company has been located in Nebraska, United States. Currently, the company has an active user base of more than 1 million, and its trading platform is amongst the most used platforms across the US.
TD Ameritrade has recently got back to the limelight after the recent advancements to its trading platform. Previously, the trading platform came with an old interface that was hard to navigate and utilize for modern investors; however, the latest ‘thinkorswim’ trading provides access to elite tools and commendable educational resources. The advanced trading platform has everything a day trader wishes for.
From constant updates about the market to real-time data monitoring, the platform offers it all. The extensive range of features has simplified the stock market analysis, and investors aren’t bothered about it.
Thinkorswim trading platforms also come with pre-configured trading strategies that aim at easing the selection of trades. The trading strategies apply a particular set of rules on your stock trades that are applied as soon as the relevant conditions are achieved. These strategies simplify the role of an investor to the click of a button; as soon as the trading rule is passed, the strategy starts working, and decisions are taken at the right time.
#6. Webull
Webull was founded on 24 May 2017 by Wang Anquan. The company has received funding from popular Chinese tech companies such as Xiaomi, which ensures its strong financial backing and reliability. Its growth in the United States has been smooth, and the early adopters have given positive reviews. Daily traders have highlighted its importance and efficiency in the day trading of stocks and exchange-traded funds(ETFs). The company has earned a reputation for its technologically advanced stock market analysis features that are unique even for the modern stock market.
The integration of Nasdaq TotalView has helped users in analyzing the market through fundamental data and tools. The addition of the software is to make the interface compatible with a heavy power usage that will be required with several real-time charts and data. The trading platforms contain a wide range of powerful technical indicators that have significant importance for all investors. The indicators help us find new trade ideas and make the most of our investments.
Although the company has also gained popularity due to its seamless processing, the main reasons behind its growth are feasible trading costs for active and day traders. The company follows a straightforward trading strategy that includes $0 commission trading for options, ETFs, and stocks. The company also provides easy loans for investors with a balance of more than $2000. The loans come with different margin rates, and the primary purpose is to help investors enhance their profitability without the restriction of any funds.
#7. TradeZero
TradeZero is amongst the fastest-growing start-ups in the United States. The rapid growth resulted from amazing customer service and dedicated plans to help the investors grow towards profitability. TradeZero is one of the few brokers that allow the free real-time streaming of market data, which means that any user can log into the website and benefit from the stock screener.
The data is available for most financial markets and comes with basic drawing tools, so you can evaluate immediate results without paying a penny. TradeZero has also attained a reputation for its shorting efficiency.
Early Adopters share the positive experience of the application and suggest it to be an exemplary shorting device. The ease of finding a customer for your shorting trade is straightforward, and better prices allow investors to make significant profits on the right deals. Despite all these amazing standout features, the reason for TradeZero’s popularity is its range of trading platforms.
The brokerage offers three different trading platforms: ZeroPro, ZeroFree, and ZeroMobile. The two latter platforms are unpaid and can be helpful for new traders in finding the right footing in the stock market.
However, for more experienced investors, ZeroPro offers a new dimension of stock research tools. The software comes with real-time news about the stock market, advanced hotkeys, multiple chatting with indicators, stock screener, custom layout, etc. The wide range of research tools allows experienced investors to learn better details about their preferred share that will eventually help them make more profit. The online trading platform costs $59.00 per month; it also includes ZeroWeb.
Stock Trading Software Pros and Cons
Pros
- Technical indicators allow an objective view
- Real-time monitoring of the investments
- Multiple securities can be traded at a time
- Portfolio tracking helps in making informed decisions.
- Avoid broker bias
- Reduces time wastage
Cons
- Quick investment procedure may misguide you into investing more than you initially planned
- Unreliable platforms may lead to more loss than profit
How to Choose the Best Stock Trading Software
If you remember, we started the blog by labeling Stock Rover and TradingView as the best brokers. Our description of the two brokerages would have helped you determine the reason behind our selection, but if it didn’t, let me explain. The most important thing for us in a trading platform is the number of technical tools available.
Although most trading tools won’t be required simultaneously, their presence shows the trading platform is designed with precision to address the concerns of the users. The additional indicators provide an excellent opportunity to learn hidden details about the market that isn’t yet published in the news.
Most investors who make a loss in the stock market do so due to sheer lack of information; hence, a trading platform containing inadequate knowledge is far from a recommendation. Hence, our second reason for selecting StockRover and TradingView was their philosophy to update the inventor’s mentality by educating them about the market.
Both the trading platforms contain a separate section for the latest news and techniques for evaluating the stock market. It provides valuable insights into how the market works and what are the best decisions for an investor based on their strategy.
Finally, another important factor that we considered before shortlisting the final two was the range of offerings. Although educational resources and technical indicators are great tools to improve your march towards profitability, they aren’t fully utilized if the trading platform doesn’t allow you to trade a wide range of securities.
Both Stock Rover and TradingView have various offerings, including stocks, mutual funds, ETFs, and options. To ensure that investors can make better deals, The trading platforms contain adequate details about the assets and whether it’s the right time for entry or exit. Automation strategies can also come in handy for making profitable deals.
What to look for in a Stock Trading Software
Profitability is the primary motivator behind any business. The high risk in stock trading means that only high profits can attract investors to the market. The stock trading platform plays a massive part in determining your profitability in the long run. Most new investors struggle to identify how to weigh each feature. Here are some of the must-have features for your stock trading software.
Trading fees are an important aspect of the trading platform. If a trading platform has high fees, it will never let you maintain a profitable streak, and most of your profits will be diluted after the final transaction is completed. If you are looking to trade actively, it is vital to go for a trading platform that offers no commission trading for the US-listed stock.
It will provide you with a fantastic opportunity to retain most of your profits; hence, the slightest increase can help you towards profitability. Similarly, you should also check whether the platform has usage fees. Most high-end platforms are now restricted to premium users. Therefore, they charge a nominal fee to allow its usage.
The trading fee is often worth the future; however, not all investors have a budget to utilize platform fees; thus, you can opt for platforms that are free.
Another vital prospect is the efficiency of the platform. Stock trading is all about making the right deals at the right time. A lag in the trading platform or an incorrect order transmission means that your investments will end up making losses. You need to ensure that your eventual platform selection considers the efficiency and error rate of the platform.
If the error rate is about 1%, it is better to opt for other platforms with higher fees but better efficiency. User reviews can help understand how the trading platform works and whether it is prone to frequent problems or not.
Finally, technical indicators are another important feature to look out for. Although you won’t get to use most of your indicators for stock trading, they still provide you with the flexibility to judge the stock’s profitability from multiple perspectives. You must aim at a trading platform that offers a wide range of trading tools that can help make the right decision. The latest indicators are also programmed to form trading strategies in automated trading software, which allows an investor to make deals without sticking to their screens at all times.
Best Forex Trading Course
Investing in the Forex market might seem to be a daunting task especially if you are a beginner, and have just started exploring the Forex market. Although experience is said to be the best teacher when dealing in the Forex market, it is good to learn about the Forex market briefly before making your first investment.
There are several ways in which you can start expanding your knowledge of the stock market. You can either start reading books or ask for tips from your friends or family members who have prior experience of trading on the Forex platform. However, the former is a time-consuming method while the latter is not always a credible learning source.
If you want to learn about investing in the Forex market that would help you gain knowledge, and tell you all you need to know about the market, then you can opt for some professional courses available on the internet. These courses are developed by Forex markets experts who have years of training Forex traders.
Now, there are thousands of courses on the internet that claim to teach you about Forex investment. However, not all of these courses are reliable and give accurate information. So which is the best Forex course for learning the ins and out’s of the Forex market?
Asia forex mentor course by Ezekiel is by far one of the best Forex learning courses on the internet, and they are one of the best learning sources if you want to expand your Forex trading knowledge.
They have been featured on multiple different leading forex platforms and Forex events happening around the world. Ezekiel’s platform is the perfect solution for you to learn because their clients include multiple trainees and bank traders from private trading institutions around the globe.
It is the number one course available on the internet because it also reaches new bank traders and has fun managing if you want to make money from trading forex stocks and other commodities.
You can get a great return on investment by indulging yourself in this systematic course. Even if you are a beginner in the field and do not have enough experience and knowledge about Forex trading, you still join this program with zero knowledge. Everything will be taught to you from scratch, and you can enroll yourself in this program right now to get started.
Check out the testimonials on the website and start your Forex trading journey right away. The good thing about this course is that you will be crystal clear about what you need to do from day one.
They are using a return on investment approach to teaching their students. It is a scientific method of beating the market, and you will not be taught this somewhere else.
Conclusion:
Stock trading isn’t a simple game, but it isn’t extremely challenging with the right trading software. You need to be aware of how the market works and which indicators provide accurate results. Although making deals based on the recommendations of Youtube experts is easy, it would eventually result in more monetary losses compared to any profit that it would have bought.
Before reaching a decision about the perfect trading platform for yourself, you must check for its prices, reliability, and features. It is difficult to find the best mix of the three factors, but you need to ensure that you don’t compromise on the prices and reliability of gimmicks. The trading fees would eventually determine whether your investment is profitable, and the platform’s reliability would ensure that your deals are processed precisely. You don’t lose out on good deals due to mistiming.
The American stock market is an exciting opportunity for investors to make good deals and skyrocket their revenues, but it can become a nightmare if accurate indicators don’t back decisions. It is always better to seek knowledge from professional investors that share their ideas in various communities. Trading platforms have grown, and people have served their lives to the stock market. Financial analysts analyze stocks and mutual funds keenly to ensure that the correct trade information is available to all investors.
As your hard-earned money is at stake, you need to ensure that your decisions aren’t from abrupt emotional flow; otherwise, the results can be depressing. Small losses prepare us for bigger profits, every defeat has a reason, and once you learn from your mistake, it will help you be a better version of yourself. Stock trading has the potential to transform your life from a 9-5 job to a more relaxed schedule of the American stock exchange.
Best Stock Trading Software FAQs
What is the best stock market trading software?
After reading our above discussion, you might have found out that the efficacy of a trading platform is based on its usability. Some users might think that TD Ameritrade is the best option as they rate reliability as the most crucial factor, while for others, Zen trading strategies appear a better option due to its automation procedures.
If we look for a mix between reliability and innovation, both StockRvoer and TradingView stand out. They have the reliability, prices, and features that all investors are looking for. The low prices accompanied by automation features mean that you can make a profit without spending tons of hours analyzing and researching stocks. The wide range of offerings, including stock, ETFs, and options trading, is another perk that helps our eventual decision.
What software do pro traders use?
The software selection amongst pro traders is diverse; some of them like to retain most of their profits; hence, they opt for trading platforms that charge less commission and platform fees. Other investors may value innovation more than prices; hence, they opt for premium software that may provide elite indicators on a nominal cost.
However, regardless of how they value other features, the safety and security of the platform is usually the first feature that determines their investment pattern. Most investors are trading with a massive amount, and if the platform isn’t secure, their hard-earned money is at the risk of loss.
What is the best free stock software?
Most of the brokers mentioned above have free alternatives for their premium trading platforms. Like StockRover, TD Ameritrade, and Webull, most brokers offer a mobile and desktop option for free usage. The purpose of the software is to allow casual investors to understand the market news and make trades with their understanding. The more sophisticated version of the platforms is often paid.
According to our experience, the best free stock software is the trading platform of TradeZero, also called ZeroFree. It is a web-based platform with an interactive interface that hosts a plethora of trading indicators that investors can use to make the best trade deals. Real-time streaming also provides an additional perk for investors who can make deals based on accurate information about the market’s current condition.
However, if you are an investor, it is vital for you to evaluate all trading software based on their reviews and efficiency. Most companies offer a free trial for their software, and it is better to avail of it before signing up for the account.
