Are you interested in the best online stock market resources? These are the most important tools and website you need to know and add to your trading arsenal.
In this review we break down the top 20 stock market website and resources to the top 5 in each of the follwoing 4 categories:
Top 5 Stock Market & Financial News Providers - will share the best sources of news on the web
Top 5 Stock Market Software Vendors – will reveal the best stock market software for trading success
Top 5 Educational Products – the best stock market training courses on the web
Top 5 Free Stock Charting Websites – will highlight the best of the free stock chart websites
So lets start with our top 20 review for 2015.
Top 5 Stock Market Resources & News Providers
Having fast access to real time news and breaking alerts on events in the stock market can provide a significant edge and add to your trading success. Here we reveal the best sources of news and rumors on the web.
Benzinga is one of the fastest growing real-time news providers. Its articles are well written and all focused on actionable trading ideas. This is quite unique and an excellent source of inspirations when you are searching for your next trade.
Benzinga PRO adds the real time element to the news so you get the edge before other investors. Benzinga PRO has a browser based real-time news feed and the boast that their news is so quick that they can consistently alert you to stock moves before Wall Street has a chance to act. They also have real-time audio alerts which is absolutely unique.
The Pro service is well worth trying especially as they have a risk free 14 day trial. See for yourself at Benzinga PRO
Full access to the entire Benzinga news-feed Real-time
Real-time market commentary - giving you expert stock analysis and previews to up coming events
Customizable watch-lists - enabling you to see real-time news on stock you are interested or invested in
Calendar access so you know what is about to happen and how the market might react and also the importance of the announcement on the move. This is further sub-divided into Economics annoucements that can move markets, ratings shifts, mergers and acquisitions news, splits, IPO’s, retail sales, and conference calls. You name it Benzinga PRO has it at your finger tips.
Trading ideas is a nice touch with insights into potential moves that you could profit from
Real-time Audio News - this is really impressive, I have it open whilst watching the markets so I do not need to be watching the screen. Every 2 minutes a real time audio feed announces the latest news via my speakers – this service is worth the upgrade to Mach III. As I am writing this an announcement came through that Novartis got FDA approval for a new drug. I just checked online this is not on the web yet.
Mach IV($209,00 – Check latest price here) - this is the service I am using and although the price is a significant upgrade from the Mach II and III offerings it does provide in addition to the above:
Sentiment Indicators - this is a really excellent feature that allows you to feel the sentiment of the analyst who submits the news item, this is rated as 1 to 3 bulls or bears depending on how the analyst feels the news will move the stock. This is unique and a great asset.
Chat with News-desk Feature - wow this allows you to question directly the Benzinga news desk to deep dive into your own specific questions – straight from the hub of the news.
Exclusive CEO comments - Benzinga Analysts have frequent exclusive interviews with CEO’s and the publish exclusively key comments that may provide key insights into a stock you own.
In person Event Coverage at live earning announcement events – if you trade earnings this is your ticket to sitting at the event its self getting analyst feedback at it happens.
eToro brings to the table something unique. The ability to follow and copy traders with proven verifiable track records. You get instant alerts on the trades they are making. Each trade is logged through eToro and the wins and losses are therefor verifiable.
What is refreshingly clear is that you can search for traders that match what you are looking for.
You can search for:
Do they trade Stocks, Commodities, Indices or Currencies
How active are they (% in weeks)
How many trades have they made
You can also review:
What their weekly drawdown is
What percentage of profitable weeks they have had
Their overall gain
How many followers they have
The service is free for the copier, the traders get paid a portion of the profits they earn with your money and if you select for example to copy a trader and lay down $1,000, when they trade through the system your trades are automatically made also. If they make 20% in a year you will also.
It is a fascinating system with clarity into the track record of the traders you copy. Of course if they go on a losing streak so do you. But this is truly an innovative product worth investigating further.
The Street does not provide real-time news but it does have a number of Stock Advisory Services. A highly popular site that is well established having been around for a long time, The Street is focused on providing premium services for investors. For example, you can subscribe to various newsletters with celebrity advisers like Jim Cramer from the CNBC TV show Real Money. A summary of the type of advisory services they have is below:
Quant Ratings Service uses an in house algorithm to recommend stocks with a high potential of significant increase – TheStreet Quant Ratings
Trifecta Stocks – a system using quantitative techniques, fundamental analysis and technical analysis
Action Alerts for Options, Stocks Under $10, Dividends, and Growth Products are also options.
I have not seen to much evidence of a solid track record of winning in these products as they are not published and and also they are not recommending the exact buy or sell per minute. However, they may spur idea generation in stocks and the surrounding strategies. The individual advisory services are not expensive ranging from $10 to $40 per month, how beneficial they are is up to you to decide.
Seeking Alpha is a content rich opinion based website that has a wealth of information. Articles are submitted from investors detailing their opinions regarding the valuation and future direction of stocks. Most of the articles are very well written and contain solid and often honest analysis form the perspective of the author. Authors are also required to disclose if they have a position in the stock they are talking about.
Bloomberg is one of the powerhouses of financial investing news services, catering primarily to Wall Street and Institutions, many of which pay a lot of money for the real-time feeds and core market intelligence the Bloomberg Terminals bring. The Bloomberg TV stream over the Internet is a resource rich multimedia expereince and contains mostly high quality reporting. Trading during the day, have Bloomberg TV running in the background keeping you up to date with the latest market developments. One drawback is too many adverts, repeated over and over again, however it is still a good news service.
Review Score 8.9/10
Recommended for 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 XIV 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 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.
Fundamental Scanning and Screening 10/10 – 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 fundamtentals and powerful scanning of the markets gets a perfect 10
News 10/10 – MetaStock 12 has full Eikon integration with institutional level news, analysis and outlook. This is be the fastest global news service available on the market including translations into all major languages.
Technical Analysis 10/10 – Forex forecasting based on sentiment is 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.
Stock Systems and Back Testing 10/10 – Another area where MetaStock excels is what they call the expert advisors. MetaStock harnesses a huge amount of in-built 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 8/10– 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.
Review Score 8.9/10
Recommended for full broker integration, trading off charts and frequent traders. A great price point of FREE for brokerage clients.
TradeStation are a leading brokerage house with excellent execution and low comissions 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 – 9/10 – 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.
Trade Management – 10/10 – With full broker integration TradeStation can offer trading from charts, live P&L analysis and automated trading as part of the package scoring a perfect 10.
Fundamental Scanning & Screening – 10/10 – 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 excotic 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 – 8/10 – 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 – 8/10 – TradeStation have also cultivated a systems and strategies market place 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 8/10 – TradeStation is easy to use, but extremely powerful also. It is probably due a facelift to make it more intuitive to use, but none the less a good score of 8/10 is warranted.
TradeStation were ranked Best by Barrons:
Best for Frequent Traders
Best for International Traders
Best Trading Experience and Technology
eSignal Review – Interactive Data Inc. – 8.4/10
Recommended for those who like great charts, scanning, broker & chart trading integration and an easy to use yet powerful and elegant interface.
Pricing and Software 10/10 – eSignal offer a quality product that is well developed, looks great and has beautiful charts. It will run on your PC, Mac, Tablet or Smartphone. Not only that they have global data coverage for all stock exchanges, very fast data speeds and cover all markets in the review from equities and ETF’s to futures and Forex.
Trade Management 10/10 – Sporting Broker integration with TD Ameritrade, Interactive Brokers and 10 other brokers eSignal has one of the best integrations of any software vendor. You can place trades from charts and the live profit and loss (P&L) analysis is well developed. Another top score for eSignal.
Fundamental Scanning and Screening 8/10 – eSignal allows you to setup real time scanning and screening of the markets with live updating watch lists. eSignal could offer more in the form of scanning for fundamentals however you can list a huge array of fundamentals in your watch list columns.
News 8/10 – News feeds and more importantly real time news feeds are important to traders, eSignal offers a solid news stream which should not let you down. A lack of trader and community chat or market commentary mean eSignal does not score a 10/10 for this section.
Technical Analysis 8/10 – For the hardcore technical analyst eSignal might not offer enough indicators for your liking, but how many is enough. eSignal has 22 indicators it calls “Studies” and they work quite effectively. However for the drawing tools and the indicators full real time alerting is integrated meaning you do not need to miss the action even if you are not looking at the chart.
Stock Systems and Back Testing 7/10 – eSignal has developed a good ecosystem of stock market system developers who can sell you their systems or develop yours for you. However because there is no point and click system development or back testing you will need to pay for the services.
Ease of Use 8/10 – One of the easiest platforms to use, the interface is intuitive and very reactive.
Telechart 2000 Review – Worden Brothers Inc. - 8.4/10
Recommended for US Investors with a fundamental bias who need powerful screening and excellent charts on all platforms. Telechart has long been one of my favorite tools, I have been a subscriber for over 15 years and find the latest release 12.x to be a huge step forward. Endlessly customizable and scalable the platform offers nearly everything an investor may need.
Pricing and Software 8/10 – 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 simply pricing structure. Why does it not score a striaght 10/10? Only because it’s data coverage is U.S. and Canada only and it does not cover options, futures, forex or bonds. However, it was not designed to cover those. If you trade U.S. Stocks, ETF’s or Mutual Funds, then this may be a good solution. Wordens also provide live weekly training seminars which are of a very high quality.
Trade Management 7/10 – Currently Telechart is only integrating with TD Ameritrade, but if you are using TDA as your broker then the portfolio integrations and trading from charts works well.
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 watchlists connected to your charts telechart is a power player.
News 7/10 – While telechart does not have a perceivable Real-time news element, it does have integrated news, but what sets it apart is it has a daily Market Commentary from Pete Worden and a very active community sharing trading ideas and banters in a live chat window. It certainly provides some entertainment while your stocks are moving sideways.
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 8/10 – Worden Brothers also have a little secret when it comes to developing backtested systematic approaches to trading. With a platimum membership to telechart you also receive a tool called Stock Finder. Stock Finder is one of the single most powerful intuitive point and click system development tools on the market today. No programming required. That is saying something because it is up against some very stiff competition in this space. Although Stock Finder cannot be used to automatically place trades, it’s ease of use still warrants a 8/10 rating, despite deveopment on the tool being halted. My request to Worden Brother is to integrate the GUI aspects of Stockfinder directly into TC2000 and improve the P&L analysis in the backtester.
Ease Of Use 10/10 – One of the easiest to use and most powerful packages available places the icing on the cake for the Worden Brothers.
QuantShare - 7.7/10
Recommended for investors with a who do not need real time data feeds but value a huge selection of use generated systems, watchlist and powerful technical analysis tools. QuantShare was new to me and I was pleasantly surprised with the feature set.
Pricing and Software 8/10 - An extremely cost effective solution with integration into new social media outlets like StockTwits.
Trade Management 7/10 - While QuantShare enables some features in this space, they probably do not cater for your broker
Fundamental Scanning and Screening 8/10 - There is certainly a huge selection of fundamentals to be able to scan against, the usability could be improved. Watchlists can be tricky to set up. Further development required here.
News 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.
Technical Analysis 9/10 - With the largest selection of technical indicators to choose from (520+) this package leads the way in the chart analysis stakes.
Stock Systems and Back Testing 10/10 - There is a huge selection of shared systems and the ability to back test them.
Ease Of Use 6/10 - 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.
Top 5 Educational Products
In this section we take a look at the best ways to educate yourself in the workings of the stock market.
Liberated Stock Trader PRO – Training
Although we should not add our own product here as it may seem biased, we do believe that the Liberated Stock Trader courses offer very high quality training at a very good price.
Marketfy is essentially a market place for training courses and trading rooms you can join to trade with the trader. Trading rooms is a concept whereby you connect to the head trader and he shares his desktop and you can essentially watch over their shoulder and trade with them asking questions and learning as you go.
The Marketfy Explorer package allows you to check out multiple rooms or trading packages that meet your needs.
They offer a range of educational products as well and vetted and tested trading rooms I have personally spoken to the folks over at Marketfy and it is well run with good support.
They offer packages covering Futures Trading, Forex and even Cannabis Trading they call the “Green Rush”. Well worth a try.
Do you want to learn about trading options? Options University offers a wealth of Options Trading Courses that enable you to take your knowledge of stock market investing and apply it to the world of options training.
Read a Book
Self education can be a good source of information to get started and reading the best books in the business is a great place to begin. Read our review of the Top 20 Stock Market Books ever written.
Listen to a book
Do you not have time to read a book, then do what I do listen to one. Our review of the Top 20 Best Audio books provides you a list of entertaining and educational stock market books.
Top 5 Free Stock Charting Websites
In this section we review the top 5 free websites provding stock charts. Although inferior to the premium packages they do offer value to the investor on a low budget.
This has been launched by the Worden Brothers Incorporated, and is based on the multi-award winning Telechart 2000.
This tool is way ahead of the pack for free charting. The Liberated Stock Trader uses Telechart 2000, to screen, sort, and find winning stocks, and FreestockCharts also comes highly recommended.
You will need to have the latest version of Microsoft Silverlight, but this will install quickly.
The self proclaimed “simply the webs best financial charts” unfortunately comes in 2nd in our survey. Worth commending are the sharp charts, which are visually very impressive, and its array of exotic indicators may excite the “think they know it all investor”. One thing to mention this service offer excellent Point and Figure Chart, which to my knowledge no other free service offers.
Missing trend lines, rolling EPS, and a weak news service do not do it justice. More effort from Stockcharts.com could make it one of the better free services on the web. They do offer a Membership service starting at 14.95, and scaling upwards, but for this money you could buy a service like “Telechart 2000” which is frankly the best pay for Charting and screening software around for those on a budget, at $29.99 per month.
While Google finance suffers criminally in the weakness of its charting, scoring 7 out of 28 points, and the worst of all contestants, it is not all bad news.
Google is an excellent place to go for a single page of latest news, blog alerts, and the P&L & Balance Sheet of any stock, and if you only need a rapid view of the general stock this is still a good stop of point for a general look. The news reports can be overlaid on top of the stock price which is unique and valuable to the investor interested in how news plays out in the stock price.
Yahoo like Google offers no trend lines, but does offer 9 sub windows with a healthy array of indicators to plot in those windows. Coming joint second in our review, Yahoo it seems can do at least one thing better than Google.
While the stock screener from MSN Money is in the opinion of the author the best free screener available, the charting software comes in only in 6th spot. Lack of trend lines, Moving averages, OBV and index overlay mark it down heavily. However with Membership you can get real-time stock quotes.
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