TOP 6 Stock Market Analysis Software Reviews
The In-Depth 800 Point Analysis of all 12 vendors in the review can be found here. This article highlights only the winners and recommended software.
When it comes to Stock Analysis Packages, no two products are identical, there are many strengths that are designed for each product to suit specific needs.
As such most of the packages can be recommended to a specific audience based on their strengths. In the following detailed reviews, we look at the benefits and breakdown each package.
The Type of Trader / Investor Your Are Defines Which Product is Best For You
(Click your investing style below to jump to the Product Best Meeting Your Needs)
- Mid to Long-Term Investors: Best Analysis Software – U.S.A. & Canada
- Mid to Long-Term Investors: Best Analysis Software – All International Markets
- Day Traders: Best Analysis Software for Short-Term Day Traders
- Money Market Traders: FX, Bonds and Cryptocurrency Traders – See also Top 12 CFD & FX Brokers Review
- Quants & Scalpers using Automation: Best Analysis Software for Backtesting, Robotic Trading & Scalping
- Professional Institutional Traders: Best Analysis Software for improving your current Bloomberg installation
TradingView 2018 Review
Shocking! Simple & Extremely Powerful Charting Software, 1st Class Analytics IS THIS the best package available?
TradingView – Result 92%
There is no doubt about it, TradingView has stormed into the Review Winners section in its first try. I spent 2 days playing with this software, and it is seriously making me think about leaving my beloved wife TC2000. It is a close run competition and I am genuinely shocked at how good it is.
Pricing & Software – 10/10
I would recommend going for the PRO+ at $19.95 per month or the Premium at $39.95 per month, the benefits are extensive including Priority Customer Support and unlimited everything.
If you want the intraday spread charts & custom chats opt for Pro+. In any case, try it out completely Free and play around with it to see if you like it.
TradingView runs on PC, Mac, Tablets and Smartphones and requires Zero Installation, it simply works.
The Market data is huge, covering nearly all Stock Markets and it includes Stock, ETF’s Futures, Foreign Exchange & Bonds, all at no extra price, which means outstanding value for money combined with excellent support options.
Also, a huge benefit is that the Data Speed and Coverage are mind-blowing, covering literally every stock market on the planet and not just stocks but ETF’s, Mutual Funds, Futures, FOREX, Bonds & CryptoCurrencies AT NO EXTRA COST.
Trade Management Score – 8/10
With TradingView you get full broker integration, you can place trades on charts and it will take care of Profit & Loss reporting and analysis for you. the only thing it does not cover is Stock Options Trading.
Fundamental Scanning & Screening – 10/10
Another perfect 10 for TradingView as they hit the mark on Real-time scanning and filtering, and fundamental watchlists also.
The list of fundamentals you can scan & filter on is truly huge. Any idea you have based on fundamentals will be covered. They even have insane amounts of economic data like Federal Funds Rates and World Economic Growth, thanks to a connection to the QUANDL database.
TradingView has a very slick system and they have put a huge amount of thought into how Fundamentals Integrate into the analytics system.
Watchlists have fundamentals broken into Performance, Valuation, Dividends, Margin, Income Statement and Balance Sheet. You can set the watchlist and filters to refresh every minute if you wish.
What makes TradingView stand out is the huge selection of economic indicators you can map and compare on a chart. For example, you can compare the Civilian Unemployment Rate versus the growth in Company Profits for the U.S.A. This is incredibly powerful.
News & Social Community Score – 9/10
TradingView is built with social at the forefront. Fully integrated chat systems, chat forums and an excellent way to share your drawings and analysis with a single click to any group or forum.
This makes for an excellent way to generate ideas or learn from other traders. You have to try it and see it in action to understand the power of the implementation.
They have also thoughtfully integrated a Kiplinger newsfeed, Stocktwits, and various FX newsfeeds. With a social first development methodology, combined with powerful economy statistics and a solid newsfeed it is a great package.
As soon as you connect to TradingView you realize this is also developed for the community. You can look at community ideas, post your charts and ideas and join limitless numbers of groups covering everything from Bonds to Cryptocurrencies.
The news feeds are fully integrated, including Kiplinger, DailyFX, Futures Magazine, FXStreet, and StockTwits. Add that to the social network and you have a great solution. The news service is only second to MetaStock with their Reuters Feeds.
Technical Analysis Score – 10/10
With over 160 different indicators, and unique specialty charts such as LineBreak, Kagi, Heikin Ashi, Point & Figure and Renko, you have everything you will need as an advanced trader. With the Premium membership, you also get Level II insight, fully integrated.
TradingView have over 160 different indicators, covering everything you could possibly need, unless you need the Volume at Price Indicator.
On the downside compared to its competition, it is a little weak on drawing tools, offering only Trend Lines, Pitchfork and XABCD Pattern.
So why does it score so highly and rank as a winner in this section?
I was incredibly impressed with the offering of Kagi, Heikin Ashi and Renko Charts including Point & Figure and Line Break.
Also, the user community has developed indicators as exotic as Moon Phase (see chart below).
With this selection of charts, you have everything you will need as an advanced trader. Plus, with the Premium membership, you also get Level II insight, fully integrated. Well done TradingView.
Did I mention the charts are fast and beautiful?
Systems, BackTesting & Automated Trading Score – 7/10
Good but not perfect. TradingView has an active community of people developing and selling stock analysis systems and you can create and sell your own. Also, there are a huge number of indicators and systems from the community for free.
The only things you cannot do is forecast and implement Robotic Trading Automation. For that, you would be better off with NinjaTrader, QuantShare or TradeStation.
Usability Points – 20/20
Within 5 minutes I was using TradingView, no credit card, no installation, no configuring data feeds, it was literally just there.
Click on the TradingView logo on the left and it will be instantly running.
It does not get easier than that.
Even better is the fact it is already configured for use. All controls are intuitive and the charts look amazing. It is quite a feat that it is so easy to use considering TradingView has so many data feeds and backend power.
Telechart 2000 Review – Worden Brothers Inc. – 90%
Telechart has long been one of my favorite tools, I have been a subscriber for over 17 years and find the latest release v17.x to be a huge step forward. Endlessly customizable and scalable the platform offers nearly everything an investor may need.
Pricing and Software – 10/10
Telechart is a big hitter when it comes to software and pricing. Telechart runs on everything – your iPhone your Tablet, your Mac, and your PC. It is priced very reasonably with a simple pricing structure.
If you trade U.S. Stocks, ETF’s or Mutual Funds, then this is a great solution. Worden also provides regular live training seminars which are of a very high quality.
Trade Management – 9/10
Worden recently released TC2000Brokerage offering discount brokerage services $4.95 per trade. This integration means a tight integration for trading stocks from the screen but also one of the best implementations of Stock Options trading available.
Fundamental Scanning and Screening – 10/10
Make no mistake about it, if you want fundamentals screened in real-time layered with technical screens all integrated into live watch lists connected to your charts Telechart is a power player.
News & Social – 8/10
While Telechart does not have a perceivable Real-Time news element, it does have integrated news with connections to Google Finance, CNN, Yahoo Finance, MSN Money, Marketwatch and StockTwits.
If you want social community and integrated news, you will need to roll back to TC2000 v12.5.
Technical Analysis – 9/10
Telechart has an excellent array of technical indicators and drawing tools, all the big ones are there, from OBV, RSI and Bollinger Bands to Fibonacci Fans and Andrews Pitchfork. With over 70 different indicators you will have plenty to play with. They have also introduced live alerts which you can configure to email or pop up if an indicators or trend line is breached. Very useful indeed.
Stock Systems and Back Testing – 4/10
If you want to perform powerful backtesting or trading automation, then TC2000 is not for you. You may be able to utilize the add-on product called StockFinder, if you are a Platinum Member and you specifically call to ask for it. However, StockFinder is no longer in active development, which is a shame because I think it is one of the very best in the market.
Ease Of Use – 20/20
One of the easiest to use and most powerful packages available places the icing on the cake for the Worden Brothers.
Some major improvements to TC2000.com (Gold or Platinum):
- Online—access from any computer anywhere (including your personal settings, WatchLists, etc)This is a huge step forward allowing you to access from any computer all your settings, stocks, notes, overcomes the restrictions of the previous version.
- Personal WatchLists—now shared across all Worden platforms – So being able to access the same watchlist from Stockfinder, Telechart 2007, Freestockcharts.com and in TC2000
- More Data feeds (US—common, preferred, BB, PS; Canadian; Forex; Indexes)
- Bar Intervals—Daily and above; Intraday (supplied by BATS in Gold; full market real-time in Platinum) This is nice, the excellent near real-time feed from the BATS exchange now included in the new TC2000 free for gold members.
- Indicator Library There is a huge library available in the new version and the ability to overlay and daisy chain indicators
- QuickSort—fastest sorting ever! Superfast sorting and scanning.
- WatchList Columns—created by conditions directly from your charts. This is for those people who enjoy the benefits of Stockfinder but wish it was integrated into Telechart.
- News/notes window—streaming news, personal notes
- Improved Drawing Tools – A great new list of powerful tools including trend lines, Fibonacci, Gann, text and more.
- Alerts—trendline, price, condition & reminders – Get alerts to your inbox when a stock breaks through a trend line you have drawn. Awesome.
- TC Menus—still have EasyScan, PCF’s, Custom Date Sort, etc.
- Full Integration with Twitter & Facebook
- Completely compatible with Macs as well as PC’s!
Interested in TC2000?
MetaStock – Review Score 85%
Recommended for day traders and those who need excellent real-time news, access to a huge stock systems market and powerful technical analysis with global data coverage all backed up with excellent customer services.
The latest release of Metastock XV has been a big hit with improvements across the board. with huge improvements in Scanning, Back Testing and Forecasting making this one of the best offerings on the market.
Pricing and Software – 10/10
MetaStock starts at a very reasonable $22 per month which unlocks the entire package, and as you will see that is a great package, including Reuters real-time news feeds and award-winning technical analysis and expert advisors for system backtesting and analysis.
It is designed only for the PC, but can be run on Mac with PC emulation software. You will need to download and install MetaStock and configure your specific data feeds for the markets you want to trade. So the software installation is not as slick and quick as competitors but the package is extremely powerful.
MetaStock has a clean sweep in terms of Stock Exchanges covered (e.g. All of them) and it covers ALL of the vehicles, stock, ETF’s Mutual Funds, Options, Futures Forex, and Bonds.
MetaStock is one of the biggest fish in the sea of stock market analysis software. Backed up by the mighty Thomson Reuters you can expect excellent fast global data coverage and broad market coverage including equities, futures, Forex, ETF’s and options.
Trade Management – 4/10
MetaStock does provide broker integration but the execution of trades from charts and live integrated P&L analysis is limited, this is definately an area of improvement for the future..
Fundamental Scanning and Screening – 10/10
As I mentioned MetaStock is owned by Thomson Reuters, who are without a doubt the biggest and best provider of real-time news and market analysis.
They also have an incredible database of global fundamental data, not just on companies but economies and industries.
The filtering & scanning possibilities are endless. I would like to see better integration within the MetaStock suite, bringing together the fundamentals and the technical analysis to enable better charting on fundamentals. However, the wealth of data is first class.
Using Eikon you can see a really in-depth analysis of company fundamentals from debt structure to top 10 investors, including level II. Excellent watch lists featuring fundamentals and powerful scanning of the markets gets a perfect 10
News & Social – 10/10
MetaStock 12 has full Eikon integration with institutional level news, analysis, and outlook. This is the fastest global news service available on the market including translations into all major languages.
MetaStock however, does not have any social elements, which under normal circumstances, would detract from the score, however, because the news feeds are so strong it warranted still a 10 out of 10.
Technical Analysis 10/10
Forex forecasting based on sentiment is a feature that is absolutely exceptional. Never mind the broadest selection of technical analysis indicators on the market today. MetaStock is the king of technical analysis warranting a perfect 10.
MetaStock takes a clean sweep when it comes to Charting covering all the core chart types, but also includes, Point & Figure, Equivolume, and Market Profile charts.
When it comes to indicators, MetaStock has 300+ different types, including Darvas Box and Ichimoku Cloud. MetaStock will also help you develop you won indicators based on their coding system.
Finally, MetaStock racks up a perfect score on the drawing tools section, which includes Gann and Fibonacci tools.
Stock Systems and Back Testing 8/10
Another area where MetaStock excels is what they call the expert advisors. MetaStock harnesses a huge amount of inbuilt systems that will help you as a beginner or intermediate trader understand and profit from technical analysis patterns and well-researched systems. This is really a key area of advantage. The biggest addition to the MetaStock arsenal is the forecasting functionality which sets is apart from the crowd.
Ease of Use 12/20
MetaStock still has the feel of a collection of separately developed applications that require user’s education to make them work together. However, with the huge selection of automated expert advisors you can deploy on the selection of stocks in your purview make MetaStock well worth the investment.
MetaStock features some industry-leading systems such as:
PowerStrike relies on three phenomena of the market:
1. Stock prices are heavily influenced by trading near option strike price levels. These levels greatly influence where important buying and selling occur.
2. Support and resistance are based on the concentrated buying and selling of influential traders.
3. The human mind gravitates towards memorable, easy-to-remember numbers. These values are typical of option strike prices. Hence many traders' attention is drawn to these numbers providing the potential for even more "concentrated" buying and selling.
All in all a top class showing from MetaStock, simply put one of the best packages available.
TradeStation – Review Score 82%
Recommended for full broker integration, trading off charts and frequent traders. A great price point of FREE for brokerage clients.
TradeStation is a leading brokerage house with excellent execution and low commissions but did you know they have great software also. Joint winner in the review TradeStation offers enough in its software and broker integration to stand tall with the other vendors.
Pricing & Software – 10/10
With a price point of Free for Brokerage clients and awards from Barrons for the software TradeStation is a force to be reckoned with. Excellent customer service, good training and global market data coverage warrant the highest rating in this category.
TradeStation offers their entire software – TradeStation Analytics for free if you are a brokerage client. If you only want the software, it will cost $249 per month for end of day data and $349 for real-time intraday data.
These “software only” costs are high because TradeStation wants you to be a brokerage client. But why not use them as your broker, their super low rates are excellent.
TradeStation has global data coverage and runs on all platforms and covers all vehicles except bonds. Add to this great customer service and you have an excellent all-round package.
TradeStation again scores 10 / 10 especially if you choose them as your broker, but they do integrate with other brokers if you go for the software only option.
A super slick implementation allows extremely quick execution and opens up the potential for automated system execution.
Fundamental Scanning & Screening – 9/10
TradeStation offers an excellent array of choice and flexibility in market screening and filtering, but not just on volume but a host of fundamentals, including exotic data such as commitments of traders, insider traders and even number of company employees.
You can literally screen on anything you think will get you an edge in the market. You also get what they call radar screen which is really fast with integrated alerting.
News & Social – 5/10
TradeStation has real-time news which is an excellent service but only fails to score top marks here because it does not provide market commentary or a chat community. But do you really need that? Some people do, its a factor to consider.
Technical Analysis 9/10
With over 145 different technical indicators TradeStation packs a big punch in the technical analysis space. The charts could be a little more intuitive to use which is why it does not score a perfect 10.
Stock Systems & Back Testing – 9/10
TradeStation has also cultivated a systems and strategies marketplace called the “Strategy Network” where you can purchase stock market systems from an ecosystem of vendors or even contract someone to develop your system for you in the “Easy Language” code.
No perfect 10 in this round as you will need to learn code to develop your own system.
Ease of Use 18/20
TradeStation is easy to use, but extremely powerful also. It is probably due to a face-lift to make it more intuitive to use, but none the less a good score of 8/10 is warranted.
TradeStation was ranked Best by Barrons:
- Best for Frequent Traders
- Best for International Traders
- Best Trading Experience and Technology
Optuma by Market Analyst – 80%
Recommended for professional frequent trading investors, who value a slick touch-enabled interface which operates well with Bloomberg feeds and terminals, premium features and the best Gann Analysis toolset on the market.
Market Analyst has been in the market for almost 20 years and they cater to individual investors as well as to fund managers
Pricing and Software – 10/10
Optuma is at the top end when it comes to price and you will need a powerful PC to run it, but with IQFeed, GFT and MT4 data integration’s, great customer services and the full range of instruments covered (Stocks, EFTs, Mutual Funds, Options, Futures, FOREX, Bonds) for the premium price you get the premium package.
Trade Management – 8/10
While you have the ability to place trades from charts, Optuma does not have a full suite of broker integrations.
Fundamental Scanning and Screening – 10/10
Optuma is squarely aimed, as you can see from the price, at professional traders and wealth managers.
Their clients are tier 1 Wall Street Investment houses. But you can still take advantage of their first class solution. If you have a Bloomberg feed already established this also offers a new world of data and fundamental analytics. This slick integration of fundamentals into the charting and analysis means this is a significant improvement over a Bloomberg terminal and warrants is as a Round 3 Winner.
A perfect 10 for fundamental screening for Optuma. A well thought out real-time scanning and filtering engine and the fundamental watchlists are well implemented
News & Social – 8/10
If you can afford or have a Bloomberg feed then you will get the top end real-time market data you need.
Technical Analysis – 10/10
Another perfect 10 for Optuma. A fantastic array of technical indicators (400+) and drawing tools. Specializing in Gann tools with a full suite including Gann Grid Lines, Gann Fans, and Gann Swing.
Also included are Elliott Wave and Darvas Box, the full set of exotic indicators are present.
To top it off they have also implemented an excellent astrological analysis suite as an upgrade for those of you who believe in that sort of thing, yes commodity traders I am talking about you :).
Stock Systems and Back Testing – 8/10
Market Analyst has back-testing well covered also, with a well-implemented backtesting and system analysis toolset. Best in class up there with MetaStock, QuantShare, and NijaTrader as the industry leaders, but unlike the others, you do not need a Ph.D. in mathematics to setup and test your system.
Ease Of Use 10/20
Optuma requires a High-End PC workstation to function at speed, but if you are a PRO trader this is not a problem.
The interface, the shortcuts, the whole thought process implemented into Optuma does warrant this good score in an important section. They also have an extensive video training library which is very valuable to the new customer.
QuantShare – Result 80%
Recommended for Quantitative Analysts who develop powerful automated systems and value a huge selection of shared user-generated systems and powerful technical analysis tools.
Do you BackTest, Forecast and Program Algorithms to Auto-Trade? The read our 2018 In-Depth Review of Quantshare’s AI and Neural Networks
QuantShare was new to me and I was pleasantly surprised with the feature set.
Pricing and Software – 9/10
An extremely cost-effective solution with integration into new social media outlets like StockTwits.
Trade Management – 8/10
QuantShare scores well in this round, enabling a selection of Broker integration to automate trade management.
Fundamental Scanning and Screening – 9/10
There is certainly a huge selection of fundamentals to be able to scan against, the usability could be improved. Watch-lists can be tricky to set up. Further development required here.
News & Social – 7/10
Including news and the StockTwits integration save the day here for QuantShare, the news is not real-time but certainly does add value.
There is a heavy focus on the sharing aspect of systems with sharing servers which enable people to connect and share systems, perfect for the quant.
Technical Analysis 9/10
Stock Systems and Back Testing 10/10
QuantShare specializes, as the name suggests, in allowing Quantitative Analysts the ability to Share stock systems.
This means they have a huge systems marketplace with a lot of accessible content that you can test and use.
If you have a programmatic mind you can implement and test an endless list of possibilities. They do also offer Point & Click implementation of systems.
What is great is they also have Artificial Intelligence integrations via the AI Optimizer, which allows for the system to combine different rules to see which rules work best together.
They also have powerful prediction models using Neural Networks.
This is seriously advanced software for those with the inclination to test, forecast, predict and automate.
Ease Of Use 12/20
This software package is not the easiest to use and the interface requires serious development effort. The learning curve will take a time investment on your part.