When you buy through affiliate links in our content, we may earn a commission at no extra cost to you. Learn Stock trading software enables investors to make smart decisions. Some of the tools available include technical indicators, stock screeners, simulated trading, and data-driven insights.
In this guide, we review the 13 best stock trading software for 2024. We also explain how beginners can leverage stock trading software to increase their success rate.
Check out the list below, which highlights the 13 best stock trading software for investors: Now let’s move straight onto our comprehensive reviews, which reveal the 11 best stock trading software for 2024. Regulated by major institutions in the EU, US and UK, eToro is a global brokerage platform that offers 0% commission on stock and ETF trades. You can buy and sell thousands of stocks from the US, UK, Europe, Asia, and beyond, all with no fees, making it one of the most competitive trading platforms on the market today. Although eToro does not strictly offer trading software, their web interface and mobile application include all the features you need from a stock trading platform. To help you find the best stocks to buy, eToro has a proprietary charting platform with a wide selection of technical indicators and drawing tools. You can monitor multiple charts in a single window, compare multiple tickers on a single chart, and set price alerts so you never miss a move. On top of that, eToro displays buying and selling activity for every stock on its platform. This enables you to monitor market sentiment and better identify momentum stocks. eToro also supports copy trading for stocks and ETFs. You can automatically mimic the positions of more experienced traders, following every buy and sell they make without any manual order entry. You can copy as many traders as you want with a minimum of $200. If you want to develop your own trading strategy, you can do so risk-free using eToro’s free demo account. The demo account is loaded with $100,000 in virtual money and you can reset it at any time. Pros Cons
76% of retail CFD accounts lose money – your capital is at risk. Seeking Alpha is a top stock trading software to use when looking for long-term investments. The team at Seeking Alpha consists of several in-house analysts who study the in-depth fundamentals of different companies and stocks. Their goal is to track company valuations and profitability before suggesting any stock picks. Since Seeking Alpha goes deep into the fundamentals of a stock, they provide two monthly stock signals to members. The signals are provided on US-based and international stocks. In addition, Seeking Alpha regularly updates members on their outstanding positions. If a ‘Hold’ changes to a ‘Sell,’ users are instantly notified on the platform. A stock rating is also provided and constantly updated to keep investors informed. Since launching in 2009, Seeking Alpha has offered an annualized average return of 25% per year. However, it is crucial to note that this figure is generated using just the ‘Strong Buy’ recommendations that the platform provides. Since 2009, Seeking Alpha has also outperformed the S&P 500 by 20%, year-on-year. Seeking Alpha’s trading software can be purchased for an annual fee of $239. However, the price will be reduced to $214 should users pick up the 7-day free trial option. Pros Cons
Price increases to $299 on October 1st. Get $25 off and secure your rate today. Named ‘Best Financial Research Company’ at the Benzinga Global Fintech Awards, Danelfin is one of the most successful stock trading platforms currently available. Alongside all the top stocks and ETFs from the American market, Danelfin also provides all the latest data on European companies. Using the latest AI driven algorithms, Danelfin provides stock recommendations from 600+ technical indicators, 150+ fundamental insights, and 150+ social sentiment metrics. Collating masses of data each day, Danelfin calculates an individual rating score for the likely 60 day performance of each stock or ETF between 1 and 10. With 1 being the lowest and 10 a ‘Strong Buy’, Danelfin does all the hard work and saves the user hours of extensive research. The core AI data on stocks and ETFs can be manually reviewed at any time and subscribers to the Plus and Pro plans have access to unlimited data across thousands of companies. Furthermore, Pro plan subscribers can access a range of technical, fundamental and sentiment signals to help ensure they make the right investment decisions. Danelfin has a reputation for delivering accurate and profitable data on a massive range of American and European stocks. Its performance between January 2017 and December 2022 actually outperformed the S&P500 by more than 100%. Pros Cons
AltIndex is the most accurate stock predictor for investors seeking real-time insights. It offers a unique methodology that is based on alternative data. It crawls data from social media platforms and other websites to discover consumer sentiment and broader trends. For instance, it extracts social media posts, comments, shares, likes, and mentions. The data is taken from Facebook, Twitter, Reddit, and other networks. AltIndex will then analyze the data with emerging technologies to evaluate overall sentiment on thousands of stocks. For example, consider a technology company that has just released a new smartphone. After the launch, AltIndex data will reveal whether consumer sentiment on the smartphone is positive, neutral, or negative. This gives investors early insights into whether or not the stock is likely to report strong quarterly earnings. As one of the best stock research tools, AltIndex enables investors to secure a first-mover advantage. We also like that AltIndex tracks job postings and employee satisfaction. If postings are up and employees are happy, this highlights healthy growth. AltIndex will also scrape data from website analytics. If more people are visiting a website, this could mean that sentiment on the brand is positive. The best thing about AltIndex is that it displays social sentiment scores in an easy-to-understand way. Through artificial intelligence, stocks are rated between 0 and 100 via its stock prediction software. The scoring system updates every day and incorporates new data. Stocks with a sentiment score of 70 or more are considered a strong buy. While those with a score of 30 or under are considered a strong sell. AltIndex is also the best stock trading software for time-starved investors. This is because the platform sends real-time alerts when it generates a new stock recommendation Those with more time on their hands can view stock ratings manually. This can be filtered by the industry. We also like that AltIndex often highlights small-cap stocks that would otherwise stay under the radar. This will appeal to growth investors looking for the next big stock. Additionally, AltIndex also offers social sentiment analysis on the best cryptocurrencies. This includes the best altcoins, such as Ethereum, XRP, Uniswap, and Dogecoin. When it comes to pricing, available plans cost $0, $29, and $99 per month. Each plan offers 2, 10, and 50 stock alerts monthly, respectively. Plans can be canceled at any time. Pros Cons
Webull is one of the best stock trading software for beginners. The software is free to download and supported by Windows, Mac, and Linux devices. This is in addition to an app for iOS and Android. That said, users will need to open an account with Webull before being able to access its software. There is no requirement to make a deposit, as Webull offers free paper trading accounts. This comes pre-loaded with $1 million in virtual funds. As such, beginners can practice their trading strategies without risking any money. The Webull software comes with plenty of features. This includes over 50 technical indicators, all of which can be customized. Over 60 technical signals are supported too, including candlesticks and classic patterns. Chart drawing tools are also available, enabling traders to find emerging trends. We also like that users can customize their trading screen. For instance, the trader might want order book data on the right, charts in the middle, and watchlists on the left. The Webull software also supports multiple order types. This includes everything from trailing stop-losses and limits to markets, brackets, and take-profits. Webull also supports real-time, custom stock alerts. Parameters include price targets, technical signals, financial news, and volume hikes. In terms of investment fees, Webull offers commission-free trading on stocks, options, funds, and cryptocurrencies. There is no minimum deposit and fractional assets are supported. For example, stock and funds can be purchased from just $5 – irrespective of the market price. Pros Cons
Thinkorswim is the proprietary trading software developed by TD Ameritrade. This is one of the best options for seasoned traders who want high-level tools. The software is fully customizable, so traders can adjust their trading screen as needed. Thinkorswim supports more than 400 technical studies, including support, resistance, and monkey bars. Traders can also deploy up to 20 chart drawing tools at any given time. Thinkorswim is also ideal for gaining insights into fundamental data. It supports over 400,000 data points that are delivered in real-time. Traders can also examine company financials, such as revenue, operating profits, and dividends. Thinkorswim also offers one of the best stock screeners in the market. This comes with an unparalleled range of filters, enabling investors to find stocks that align with their financial goals. We also like Thinkorswim for its social sentiment tools. This keeps users informed on public attitudes toward companies. Users can also set up custom alerts to stay updated with key technical developments. Thinkorswim is also available as an app for iOS and Android. While this comes with limited functionality, it enables traders to buy and sell stocks on the go. Thinkorswim also supports other asset classes, including options, futures, forex, and ETFs. While there are no fees to use Thinkorswim, an account with TD Ameritrade is needed. In terms of investment fees, TD Ameritrade offers 0% commission trading on US-listed stocks and ETFs. Pros Cons
TradingView is the most popular free stock charting software in the market. The platform is now used by over 50 million investors and traders globally. While TradingView is also available on web browsers, its desktop software offers the most advanced features. The software can be downloaded on Windows, Mac, and Linux devices. Once installed, users will have access to over 100 pre-built technical indicators. That said, there are over 100,000 additional indicators that can be installed manually. These were created by the TradingView community, giving users access to indicators not commonly supported by online stock brokers. Moreover, the TradingView software also supports more than 90 smart drawing tools. These enable traders to assess trends, perform forecasts, and mark potential entry and exit points. TradingView also has its own development tool – Pine Script. This allows traders to design their own custom indicators and strategies – and import them into TradingViews. We also like that TradingView supports real-time stock alerts with over 12 custom conditions. Although TradingView is favored by technical traders, it also supports fundamental research. This includes financial statements, valuation analysis, and financial news. TradingView is also the best stock trading software for supported markets. It supports tens of thousands of stocks from the US and overseas. This is in addition to cryptocurrencies, forex, indices, futures, and bonds. TradingView is not a broker, so it imports real-time data from leading trading platforms. Although TradingView is free to use, it also comes with premium plans. These range from $14.95 to $59.95 per month. Premium plans come with additional functionality and features. That said, the free plan will be fine for beginners. Pros Cons
Trader Workstation (TWS) is an advanced trading platform backed by Interactive Brokers. The software supports thousands of financial instruments from 33 countries. This includes stocks, ETFs, options, futures, forex, and bonds. TWS will appeal to short-term traders deploying a high-frequency or scalping strategy. It comes packed with technical features, including dozens of drawing tools and economic indicators. It also supports real-time financial news streaming, alongside live market commentary from Reuters and the Dow Jones. TWS is fully customizable. Traders can import custom charts, watchlists, order books, and plenty of other metrics. We also like TWS for its high-level risk management tools. Its proprietary software – IB Risk Navigator, supports pricing assumptions, simulated outcomes, and risk exposure predictions. TWS also supports paper trading facilities. This enables traders to perfect their strategies without risking their own capital. TWS supports multiple devices, but its desktop software comes with the most advanced features. Supported operating systems include Windows, Mac, and Linux. The software is free to download, but users need to open an account to access the platform. Pros Cons
MetaTrader 4 (MT4) is the best stock market software for automated trading. Launched in 2005, MT4 is used by millions of traders worldwide. The software is supported by hundreds of online brokers. Users simply need to log into MT4 with their brokerage credentials. The MT4 desktop software is free to download and is supported by Windows, Mac, and Linux. MT4 comes with plenty of tools that will appeal to technical traders. This includes 30 in-built indicators and more than 2,000 that can be manually imported. This is in addition to analytical objective lines, multi-chart screens, and custom order types. That said, we found that MT4 is the best stock analysis software for automated trading. The MT4 marketplace sells hundreds of strategies and bots, which can then be uploaded to the platform. The bot will then trade stocks on behalf of the user. MT4 also supports demo accounts, which is ideal for backtesting bots. However, an account will first need to be opened with a compatible broker. Pros Cons
StreetSmart Edge is the proprietary stock trading software developed by Charles Schwab. Not only does it offer premium trading experiences for stock investors – but options and ETF traders too. StreetSmart Edge is suitable for both short and long-term strategies. It also covers an unparalleled level of technical and fundamental data. The latter includes live financial news streaming and real-time market developments. Technical tools include economic indicators and drawing tools. We also like the Idea Hub tool, which is aimed at options traders. This generates trading ideas across bullish, bearish, and neutral markets. It also enables users to analyze trades in simulated conditions. StreetSmart Edge can also be customized to meet the user’s needs. Features and tools can be added or removed from the trading screen as needed. StreetSmart Edge can be accessed via desktop software or through web browsers. The latter operates on the cloud for fast execution speeds and limited downtime. StreetSmart Edge is free to use after opening a Charles Schwab account. Pros Cons
Power E*TRADE is a stock trading software that will appeal to novice analysts. While it comes packed with analysis tools, its user-friendly layout is suitable for beginners. The trading platform is neatly laid out, with the majority of the screen displaying pricing charts. To the right of the chart are watchlists and financial news. And to the left of the chart is where users place orders. There is also a search box that enables traders to quickly find their preferred markets. We also like the risk-reward tool offered by Power E*TRADE This offers detailed insights into potential profits and losses based on adjustable parameters. The software also allows traders to discover the most suitable exit strategy before entering a position. After opening an account, Power E*TRADE is accessible via standard web browsers. It also comes as an app for Android and iOS. Pros Cons
Stock Alarm is the best stock tracking software for mobile users. This mobile app for Android and iOS sends real-time notifications when custom alerts are triggered. Stock Alarm supports over 125 custom parameters. This includes technical indicators such as the RSI and MACD. For instance, the user can opt to receive alerts if a large-cap stock hits an RSI reading of over 70. Fundamental alerts are also possible. This includes everything from earnings reports and CPI data to mortgage rates. Not only are push notifications supported but also telephone calls, SMS, and emails. This ensures that users never miss an important market movement. We also like that Stock Alarm supports multiple exchanges. In addition to the US markets, it also supports exchanges in the UK, Japan, Canada, Singapore, and Australia. Pros Cons
TradeStation is a popular online broker that has developed its own trading software. The platform can be downloaded onto Windows and Mac desktop devices. One of the best features available is RadarScreen, which is native to TradeStation. In a nutshell, this enables investors to rank stocks based on custom specifications. For instance, the investor might want to view stocks based on a selection of technical indicators and fundamental ratios. RadarScreen updates in real-time, ensuring that trading opportunities are never missed. Another feature of TradeStation is its backtesting facility. This enables traders to test their strategies and assess how they would have performed across 30+ years of data. The strategy can then be adjusted to ensure it aligns with current market conditions. TradeStation also allows users to write scripts for custom indicators and strategies. Supported markets are extensive on TradeStation. This includes thousands of stocks, futures, options, funds, and cryptocurrencies. Pros Cons
We have discussed a range of stock trading software to suit all investor profiles. Investors still unsure which software is right for their needs can read on. The first option is software that yields alternative data and analytics. AltIndex is a good example here. The platform offers social sentiment scores that are crafted by artificial intelligence. The scores are determined from social media metrics, such as followers, likes, and comments. AltIndex also scans website traffic, Google searches, and employee satisfaction. The online software then ranks each stock based on its AI sentiment score. The idea is that stocks with a high score are viewed positively by society. This could be because of a new product, environmental practices, or customer service. Ultimately, AltIndex is aimed at investors that seek trading ideas, insights, and recommendations on the best stocks. It also supports cryptocurrencies, including Bitcoin, Dogecoin, and XRP. Some of the best stock trading software specializes in charting analysis. This will appeal to traders who make decisions based on quantitative data. Software providers typically offer hundreds of technical and economic indicators. This includes everything from the MACD and RSI to Fibonacci retracement levels. Additionally, the software will include chart drawing tools. This enables traders to look for trends and potential market movements. Some online stock trading software specializes in tracking tools. Stock Alarm, for example, offers real-time alerts on thousands of stocks. Users can customize their alert parameters. This includes fundamental data like interest ratings and earnings calls. Technical-driven parameters include economic indicators and volume. We also came across software providers that supported automated trading. For example, MT4 enables users to buy trading robots and upload them into its desktop software. After setting up the trading parameters, the robot will buy and sell stocks on behalf of the user. Bots can be purchased externally or from the MT4 marketplace. One of the best features offered by stock trading software is backtesting. This enables traders to test new strategies against historical market data. The backtesting facility will determine how the strategy would have performed in previous market cycles. The strategy can be adjusted and re-tested if needed. Many of the stock trading software discussed today are backed by regulated brokerages. This gives traders the best of both worlds. Not only can they perform chart analysis, backtest strategies, and stay updated with financial news – but directly trade stocks too. The main benefits of using a stock trading software are summarized below: In this section, we explain how investors can pick the best stock trading software for their requirements. Investors should consider that they want to get out of stock trading software. For example: Alternatively, some investors will prefer software that offers automated trading. This removes the need to perform any manual research and analysis. Instead, the bot trades on the user’s behalf. Investors should also consider what core features they seek from stock trading software. For instance, some investors want to keep track of the stock markets in real-time. In this instance, stock alerts and real-time financial news are useful. Alternatively, some investors will want to test out new strategies in a risk-free environment. Backtesting facilities and paper trading accounts are both useful here. Some stock trading software is offered by online brokers. This option will suit investors who want to directly buy or sell stocks after discovering insights. Make sure the broker is regulated and that it charges reasonable fees. The best stock brokers offer commission-free trading on small account minimums. Investors should also check what fees apply when choosing stock trading software. If the software is offered by an online broker, then it will likely be free. This is because the broker wants people to trade so that it earns commissions. Some providers offer a free service but with limitations. For example, while basic features on TradingView are free of charge, premium plans are required for full functionality. Investors should check what devices and operating systems the software supports. Most are compatible with Windows and Mac desktops. Linux is often supported too. Mobile users will find that most providers now offer an iOS and Android app. This often connects to the desktop software through the same account. AltIndex – which is one of the best alternative data providers, operates a web-based service. This means there is no requirement to download or install any software. The user-friendliness of the software should also be considered. On the one hand, software providers like Thinkorswim and Trader Workstation are aimed at experienced traders. Beginners will find its features and tools overwhelming. That said, providers like AltIndex are aimed at novice traders. No prior experience is needed, as AltIndex conducts all of the analysis via AI stock picking technology. Users are then provided with an AI sentiment score based on real-time metrics. Whether or not stock trading software is worth it depends on the goals of each investor. For example, most trading software is aimed at active traders such as stock portfolio trackers which help users monitor their portfolios more efficiently. They come with plenty of tools and features that enable traders to analyze the stock markets. For example, technical indicators, chart drawing tools, and data-driven insights. In other words, stock trading software is ideal for traders that never want to be more than a click away from the markets. Additionally, stock trading software is suitable for traders who need help making investment decisions. For instance, AltIndex members receive up to 50 stock recommendations every month. Investors are told which stock to buy and what entry price to set. As such, AltIndex appeals to complete novices. That being said, not all investors need to use stock trading software. This is especially the case when investing in index funds with a dollar-cost averaging strategy. Every month, the investor will add funds to their index fund portfolio regardless of market conditions. Therefore, trading software isn’t required. Stock trading software offers many benefits for investors – from analysis tools and insights to price alerts and signals. The best option for beginners is eToro. The platform may not provide trading software, but the mobile app and web trading platform offers all tools you need to start trading stocks. You can access technical indicators, drawing tools, and copy trading mechanisms with eToro.
76% of retail CFD accounts lose money – your capital is at risk. https://www.oracle.com/hk/artificial-intelligence/machine-learning/what-is-machine-learning/ https://www.ibm.com/topics/artificial-intelligence https://coinmarketcap.com/currencies/bitcoin/ https://www.theguardian.com/business/stock-markets https://intelligent.schwab.com/article/dollar-cost-averaging https://www.fidelity.com/viewpoints/investing-ideas/the-market-cycle-and-investorsThe Top 13 Stock Trading Software
Best Software for Stock Trading: Reviewed
1. eToro – Top Stock Trading Platform with 0% Commission
Key features
Supported Devices
Price
0% commission stocks and ETF trading. Customizable trading platform with price alerts. Copy trading.
Web, iOS, and Android.
Free with 0% commission
2. Seeking Alpha – Top Stock Trading Software for Long-term Investors, Get 2 Signals Every Month
Key features
Supported Devices
Price
Two stock trading signals provided monthly. Regular updates on outstanding positions. Provides fundamental analysis of stocks.
Web, iOS, and Android.
$239 per year. ($214 per year, with the 7-day free trial offer).
3. Danelfin – Daily ‘Best Stock Picks’ Calculated by AI Driven Algorithms
Key features
Supported Devices
Price
Award winning AI stock analytical platform. Easy to use Platform. Daily report on the most promising stocks & ETFs.
iOS, Android, Windows and Mac
Basic plan is free. Plus & Pro cost $19 and $52 per month respectively
4. AltIndex – Real-Time Stock Insights Generated by Social Sentiment and AI
Key features
Supported Devices
Price
AI-backed sentiment scores on thousands of stocks and cryptocurrencies. Data is extracted and analyzed via machine learning and natural language processing. Also offers stock recommendations via email alerts.
Desktop and mobile browsers.
Prices range from $0, $29, and $99 per month.
5. Webull – Beginner-Friendly Stock Trading Software Pre-Loaded With Virtual Funds
Key features
Supported Devices
Price
Free stock trading software for those with a Webull account. Comes pre-loaded with $1 million in virtual funds. Supports technical indicators and signals, custom order types and trading screens, alerts, and financial news.
Windows, Mac, Linux, iOS, and Android.
Free
6. Thinkorswim – High-Level Stock Trading Software for Professional Traders
Key features
Supported Devices
Price
Advanced trading software for seasoned investors. Over 400+ technical studies and up to 20 drawing tools. Also offers bespoke alerts, in-depth order books, and stock screeners.
Windows, Mac, Linux, iOS, and Android.
Free
7. TradingView – Free Desktop Software for Technical Analysis
Key features
Supported Devices
Price
Free stock trading software for desktop users. Supports 100,000+ technical indicators and 90+ drawing tools. Charts can be customized and trading scripts can be written. Supports tens of thousands of stocks from multiple markets. Also supports other assets.
Windows, Mac, Linux, iOS, and Android.
Free, but premium plans are also available – ranging from $14.95 to $59.95 per month.
8. Trader Workstation – Professional Software Suite With Unrivaled Insights and Tools
Key features
Supported Devices
Price
Supports thousands of financial instruments from 33 countries. Real-time financial news streaming and live market commendatory. Dozens of technical and economic indicators, plus risk management tools. Paper trading facilities are available.
Windows, Mac, Linux, iOS, and Android.
Free
9. MetaTrader 4 – Free Desktop Software Supporting Automated Trading Robots
Key features
Supported Devices
Price
Third-party trading software that connects to hundreds of online brokers. Supports chart analysis, technical indicators, custom order types, and automated trading.
Windows, Mac, Linux, iOS, and Android.
Free
10. StreetSmart Edge – Premium Trading Experiences By Charles Schwab
Key features
Supported Devices
Price
Lots of analysis tools for technical and fundamental traders. Supports stocks, ETFs, and options. The latter includes a proprietary tool for trading ideas. The entire trading screen is fully-customizable.
Windows, Mac, iOS, and Android.
Free
11. Power E*TRADE – User-Friendly Trading Software for First-Time Analysts
Key features
Supported Devices
Price
Browser-based trading platform suitable for beginners. Lots of useful features, including technical pattern recognition, risk-reward projects, and exit strategies. Also supports paper trading.
Web browsers, iOS, and Android.
Free
12. Stock Alarm – Custom Stock Alerts With Over 125 Parameters
Key features
Supported Devices
Price
Set up custom alerts on thousands of stocks and cryptocurrencies. Choose from over 125 technical and fundamental alert filters.
iOS and Android.
Free
13. TradeStation – Advanced Charting Platform With Custom Stock Ranking Tools
Key features
Supported Devices
Price
Set up custom alerts on thousands of stocks and cryptocurrencies. Choose from over 125 technical and fundamental alert filters.
iOS and Android.
Free
Types of Stock Trading Software
Data and Analysis Software
Charting Software
What is the Best Charting Indicator for Beginners?
Stock Tracking Software
Automated Trading Software
Backtesting Software
Brokerage Trading Software
Benefits of Stock Trading Software
How to Pick the Right Online Stock Trading Software for You
Type of Trading Software
Core Features
Trading Facilities
Pricing
Supported Devices and Operating Systems
What is the Best Device Type for Trading Software?
User-Friendliness
Is Stock Trading Software Worth it?
Conclusion
References
FAQs
What is the best trading software tool?
What software is used for stock trading?
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