Even the best stock analysis software won’t make you rich from one day to the other. But a good stock analysis software and the best day trading software will enable you to trade with more success. You will make better trading decisions and cumulate profits faster. Nonetheless, you need to do it the right way. And you need the best stock analysis software with an excellent price spot.
Whether you are a long-term investor or a short term stock trader, this article is a must read! I will guide you through the best stock analysis software packages available. And I will explain the benefits and drawdowns of each tool.
Must-Have Stock Analysis Software Functionalities
- Real-time market data
- Backtesting capabilities
- Easy to use interface
- Excellent price-performance ratio
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1. Trade Ideas Pro A.I.
Trade Ideas is the #1 trading tool for any day trader. No matter if you are just starting out or if you are an experienced stock trader, Trade Ideas will be of help for you.
This stock analysis software comes along with powerful features. It costs less than $3 a day, and the whole market data feed is already included in the price.
This is one of the main differentiators to all other stock analysis software tools in this article. Market data subscriptions can add up fast. So it’s just great that these are included in your Trade Ideas Pro subscription.
But there is more. Trade Ideas subscribers enjoy:
- Charting capabilities with all major trading indicators and tools
- Free access to their stock trading chat room
- Strategy backtesting with a few mouse clicks and without coding
- Easy to use interface
- Availability as a stock analysis software installation and web-based product
- Free webinars and education material
- Excellent customer satisfaction guarantee
Trade Ideas implemented an artificial intelligence based trade alert stream, supports automated trading, backtesting, and scans for hundreds of free configurable trading strategies. Subscribers to the free Trade of the Week newsletter receive a free stock-pick every week, and traders can join the free Trade Ideas trading room Monday-Friday during trading hours.
Discount: Click here to apply a 15%-25% Trade Ideas Discount
Further Reading: Trade Ideas review
TrendSpider is something like the new kid on the block. It’s a unique stock analysis and charting software. It has functionalities that none of the previously mentioned tools provide.
- plots trendlines,
- identifies support and resistance levels and
- enables you to set dynamic price alerts.
TrendSpider is interesting for retail traders and experts. That’s because of their innovative solution. If you spend a lot of your time drawing lines manually, then TrendSpider could be beneficial for you.
TrendSpider currently offers a free 7-day trial with access to all functionalities. The regular pricing starts at $39 with a month-by-month subscription plan. Click here and use the promo code DTDZ15 under “payment info” to save 15% immediately.
Real-time data is included in all subscriptions.
Portfolio123 has an exceptional backtesting engine for stock- and ETF investment strategies. Customers have access to 20 years of data for stocks and even a bit more for exchange traded funds. FactSet provides the data for Portfolio123. Thousands of North American stock are supported, and they plan to provide global data soon.
The impressive feature is that over 70 pre-configured investment strategies are integrated, and users can backtest all of them. Do you wonder if CANSLIM investing is worth it, or if buying the market leaders in various sectors provides an advantage compared to the S&P500 performance average? It takes you only a few seconds to verify how the strategies performed. I go into detail about the functionalities within the Portfolio123 review.
Portfolio123 is not for traders. It is conceptualized for investors, and it is possible to use hundreds of integrated filters to create investment strategies based on fundamental data and technical analysis.
Best for: Investing, data analysis, backtesting
Best deal: Portfolio123 offers a 35-day trial by using this link. Simply register for the free account, then go to your dashboard and click “start a 35-day trial” for the ultimate plan with access to all features. The trial automatically ends after 35 days without any recurring fees.
4. Stock Rover
Stock Rover is one of the best web-based analysis software tools for investors and makes it easy, like 1-2-3, to see how stocks, exchange traded funds or even connected portfolios and watchlists perform. Using Stock Rover is like having the ultimate spreadsheet with years of fundamental data for 8,500 North American companies at your hands. The data is not as comprehensive as the one from Portfolio123, but 10 years of in-depth financial data is available.
You can connect your portfolios to Stock Rover, create watchlists, calculate your future dividend income, rebalance your portfolio, and use the excellent stock screener to find the best stocks that match your financial criteria right now. Therefore, Stock Rover can become the hub for all investment activities. You can check the best features with insights in the newest Stock Rover review.
It is also worth it to test the Stock Rover Research Reports. You create a PDF file with the most important financial data with one mouseclick ready to download for later reference. The report includes things like a business summary, analyst consensus ratings, value-, growth- and return analysis, ratings vs. peers, a financial statement history and more.
Best for: Investing, data analysis, reporting, portfolio management
Best Deal: Click here to start your 14-day free trial and receive a 25% discount offer from Stock Rover about one week later.
Unclestock is the third fundamental stock screener in the list, with 25 years of data for U.S. stock and over 10 years for European stocks. Worldwide, an incredible number of 77,000 stocks is supported for research, screening, and backtests based on over 450 technical and fundamental indicators and data points.
Score models like Greenblatt, Piotroski, Altman Z, Beneish M and several intrinsic value models are integrated and ready to use.
TradingView charts are integrated within the platform, along with news, key fundamentals, company information and more.
The free tutorials and documentation of hundreds of scores are available on the website. Everything is well explained, linked, documented and helpful to understand financial figures much better.
Best for: Investing, data analysis, backtesting
I interviewed Peter, founder of Unclestock and added the interview to the review about the Unclestock screener.
6. Worden TC2000
Worden TC2000 offers a high-end stock analysis software. It can be used for charting, in-depth technical analysis and even as a stock screener. This stock analysis software is fast and comes along with a fair pricing model.
Some time ago I conducted an in-depth TC2000 review. Make sure to read it if you are interested in trying this tool. A back-testing functionality is included, and TC2000 also offers a brokerage account. There you can trade various asset classes stocks, funds, and ETFs.
You can use Worden’ TC2000 as a standalone stock analysis software tool or as a web-based platform. One of the core strengths is the extensive technical indicator selection range. TC2000 has more than 60 technical indicators and many different drawing tools.
During my extensive test, I realized, that it is straightforward to use. One downside is that it is more of a standard stock analysis software. It does everything you may looking for, but it does not go further.
The costs vary between
- $9.99/month for the Silver Package,
- $29.99/month for the Gold Package and
- $89.98/month for the Platinum Package.
The Gold Package for $29.99/month should have all the essential tools that most investors are looking for. You should be aware of the extra monthly market data feed fees. For example, the real-time U.S. stock data costs extra $14.99 per month.
So if you are a stock trader, then Worden TC2000 costs you at least 44.98/month with the Gold Package ($29.99+14.99). Make sure to check the pricing for the exchanges you need before subscribing.
7. TradeStation Analytics
For many years now, TradeStation offers a stock analysis software. They provide one-click trading, extensive charting capabilities, and great support.
20 years ago TS2000 was the market leading software tool for any backtest enthusiast. Now it is mainly a brokerage company. Like TC2000, also Tradestation aims to get new customers into their brokerage division.
The current name of their stock analysis software is TradeStation Analytics. The tool costs $99 for retail traders plus exchange data. The exchange data costs are a bit hidden, but here they are: https://www.tradestation.com/pricing/market-data-pricing/
And the costs add up. Sadly there are tons of foot-notes in the pricing table. Some data feeds are included if you are a brokerage client. Otherwise, they cost money. It is a bit disappointing that TradeStation is intransparent for people who aim to use TradeStation Analytics only.
TradeStation software is compatible with all major Microsoft Windows versions. It is also available as a web-based platform. There is also a mobile app compatible with Android-based devises, iPhones, and iPads.
Do you remember the example from the beginning about the 50 years history of data points? Well, TradeStation offers this. Such EOD and intraday data is available for equities and futures. If you are a TradeStation brokerage client, then you can use TradeStation Analytics for free.
eSignal is another comprehensive stock analysis software. I won’t go in detail about the web-based platform. I just think that the eSignal’s web-based platform is not state of the art. But their trading software itself is ultra-cool.
It will be hard to find to search for functionality that eSignal cannot provide. As I lined out in my eSignal review, a monthly software fee of $176 per month for the signature package is a word. Especially because taxes and exchange fees will be added on this! The Elite version of eSignal costs $359/month.
With all exchange data and the third-party plugins eSignal provides, you can quickly pay more than $500 per month. In exchange, you gain access to one of the best stock analysis software tools ever. Long data history, excellent data points, fast data, and many other high-end features are waiting for you.
You can use extensive charting functionalities and code your own indicators and strategies. You can view up to 500 symbols at the same time in the Signature Package. If you are starting day trading, then eSignal is not for you.
If you are in this business for a while looking for a high-end tool that suits your need, then you should have a look at my extensive eSignal review. It covers all the things from functionalities, costs, advantages, and disadvantages.
I like to mention, that eSignal provides a 30-day free trial. So if you want to give it a try, use the free trial to start.
With more than 60,000 users, NinjaTrader is one of the market leaders in the free stock analysis software segment. NinjaTrader is free as long as you do not need the live-trading capabilities NinjaTrader provides. A lifetime license with live-trading features costs $1,099 once with free upgrades for life.
There are so many cool features that I crafted a detailed NinjaTrader review. It provides you a great look at this trading software tool from the inside. I have coded hundreds of indicators and trading strategies in NinjaScript which is based on C#.
I bought this software many years ago, and I am still convinced that it is one of the best stock analysis tools out there. Compared to Trade Ideas Pro, NinjaTrader is a bit more challenging when it comes to trading strategy creation.
While you can build trading strategies in Trade Ideas without any coding knowledge, NinjaTrader won’t do you the same favor. You have to learn C# and go through all the detailed help guides NinjaTrader provides. But it is worth the time!
Again, NinjaTrader is free! If you are using the only end of day data, then even the data feed is free with their in-house data feed provider Kinetick. Things change a bit if you need exchange data. But it is not that expensive, Nasdaq Level I costs $7 a month. Same goes for NYSE Level I. Kinetick itself has a base fee of $65 per month.
I would expect that most traders should be all set at about $75-$120 per month for the data packages. If you have an existing data-feed subscription with a compatible brokerage or data provider, you can use the existing data feed by connecting it with NinjaTrader.
VectorVest is a portfolio management- and stock analysis software. The basic layer is VectorVest 7. For using VectorVest 7 you need a subscription ranging from $69/month for the end of day version up to $129/month for the real-time version.
There are various plugin modules available, like the RoboTrader ($99/month), RealTime Derby ($99/month), Options Pro ($249/month) and some plugins available for a one time fee.
VectorVest is definitely meant for experienced users and is within the premium pricing segment. It’s an all-in-one solution with lots of functionalities. Due to the wealth of information available for VectorVest, I wrote a separate VectorVest Review about it.
Conclusion about Best Stock Analysis Software
There is not one fits all stock analysis software. The cheapest products have the worst data and limited functionalities. I think that only innovative products can make a difference. Having access to functionalities that were not available so far can bring you ahead of the completion. And in trading, everything is about competition.
My personal favorite is Trade Ideas. Trade Ideas has just everything a day trader needs, and it costs less than a coffee per day. Also, the data feed is included in the price, a free trading room is available, and the customer support is impressive.
On top of that, they have a good money back policy, tons of free educational material on their website and an excessive help guide.
Not to mention the:
- backtest capabilities,
- unique market scanning functionalities, and
- their amazing artificial intelligence engine called HOLLY.
I see it this way: Most people lose money day trading because most of them rely on old concepts. Trade Ideas is the only real innovator in the segment of stock analysis software.
If you like to go with a traditional stock analysis software, then NinjaTrader is the best way to go if you already have a data feed provider. TC2000 has a fair pricing model, and eSignal is a high-end product for experienced traders.
Technical analysis research becomes more easily with TrendSpider. TradeStation has something of everything and TradingView is a good low-budget solution.
3 More Alternatives
Free Stock Charts
Beginners may want to start with a cheaper analysis solution. If you wish to trade based on Technical analysis, then these free stock charts and low-cost charting tools might be a good idea.
The unique way of visualization makes Bookmap stand out from the competition. The stock analysis software is mainly developed for futures traders who like to monitor the market on a tick-by-tick basis. However, cryptocurrency markets and stock markets are also supported. Ther x-ray visualization shows historical support and resistance levels. More about it in the Bookmap review.
This downloadable software from TD Ameritrade requires local installation on your PC. It is intended for elite-level traders who are constantly involved in active trading. TD-Ameritrade was recently taken over by Charles Schwab. It’s to be expected, that thinkorswim will either become the main software or that it will be merged with Charles Schwabs trading software. Right now, it’s still free to use for U.S.-residents. Check out the tutorial How to use thinkorswim to see how to use it.