No matter if you want to analyze your stocks based on fundamental data or technical analysis – you need the best stock analysis software, apps and tools with excellent user interfaces and high-quality data while at the same time considering the costs.
I’ve intensively tested all market-leading analysis tools, ranging from analysis software you can install on your trading computer to web-based tools. Below is my list of the leading stock analysis software perfectly suitable for day traders, swing traders and investors. Let’s get into it.
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Best Stock Analysis Software and Apps (Top 10)
- TradingView – Best Free Stock Analysis App with Global Market Data
- TrendSpider – Best Stock Analysis App for Technical Analysis
- Trade Ideas – Best Stock Analysis Software for Day Traders
- TC2000 – Best Technical Analysis Software
- Finviz – Best Free Stock Analysis Tool for US Markets
- Stock Rover – Best Software to Analyze Stocks’ Fundamental Data
- Seeking Alpha – Best Quant-Based Stock Analysis App
- eSignal – Best Stock Software for Charting and Fast Data
- NinjaTrader – Best Stock Analysis Tool with C# Programming
- Benzinga Pro – Best Stock Analysis App with News Feeds and Audio Squawk
1. TradingView
TradingView is one of the best stock research websites with technical analysis functionalities, trading strategy development features, extensive drawing tools, beginner friendly customization options, integrated stock screeners, and various add ons. 670,000 people search for TradingView every month, and and that’s for a good reason.
TradingView has excellent analysis tools, drawing tools and technical indicators within their analysis software. Do you want to check some stock symbols quickly? TradingView does an excellent job of that. Other features like the stock screener, charting with drawing tools and the market overview are helpful for some basic scanning and market analysis.
But, TradingView is not necessarily the best choice for day traders, especially when using the free version. However, swing traders and investors make a good decision choosing TradingView for their price action analysis and watch lists creation. The monthly plans start at $14.95 and go as high as $59.95 per month, and annual subscribers save 16% by pre-paying for one year.
2. TrendSpider
TrendSpider is a unique stock analysis and charting software. It is an innovative solution that automatically plots trendlines, identifies support and resistance levels and enables you to set dynamic price alerts. Trend Spider works with any browser, and subscribers can also use the TrendSpider app on iOS and Android.
TrendSpider is a technical analysis tool with extensive charting capabilities, technical indicators, and various chart types for intensive stock market analysis. It is one of the best web-based stock charting apps, with an integrated stock screener, the backtesting function (best backtesting software), dynamic alerts and insights to enhanced fundamental data make it an innovative software as a service solution.
TrendSpider currently offers a free trial with access to all functionalities. The regular pricing starts at $89 with a month-by-month subscription plan. All subscriptions include real-time data.
Active day traders may consider Trade Ideas before TrendSpider, but swing traders and less frequently trading day traders consider using TrendSpider.
3. Trade Ideas
Trade Ideas is the number one trading tool for day traders, because whether you are a beginner or an experienced trader, Trade Ideas will help you find the best trading opportunities fast. The stock scanner comes along with powerful features at a fair price.
It costs less than $3 a day, and even the real time market data feed is included in the price. Market data subscriptions can add up fast. So it’s just great that these are included in your Trade Ideas Pro subscription. Trade Ideas is more than just a stock research tool. It is the most comprehensive software for stock trading out there and especially beneficial for day traders when trading stocks. You can connect the in-build brokerage plus API to trading platforms like Interactive Brokers for automated trading.
Trade Ideas is an all-in-one solution and offers one of the best stock scanners, charting capabilities for technical analysis, and in-build artificial intelligence features. But that’s not all. Trade Ideas provides one of the intraday best backtesting engines and focuses on high-grade trading education with free webinars, help guides and chat room access. In addition, it can be used as a web-based technology and can be downloaded for installation on your PC.
Also, Trade Ideas implemented an artificial intelligence based trade alert stream, supports automated trading, fast and reliable backtesting, and scans for hundreds of trading strategies. For more AI insights, consider reading my article about the best AI stock trading software and my Trade Ideas review.
See Also: Trade Ideas Review
4. TC2000
Worden TC2000 offers high-end stock analysis software. It can be used for charting, in-depth technical analysis and even as a stock screener. In addition, this stock analysis software is fast and comes along with a fair pricing model, which is especially great for beginners at a lower budget.
A back-testing functionality is included, and TC2000 also offers a brokerage account, so you can use it as a stock trading app to trade various asset classes like stocks, funds, and ETFs.
You can use Worden’s 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.
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 an additional $14.99 per month.
5. Finviz
Finviz belongs to the stock research tools I frequently use to check the overall market conditions quickly, biggest winners and decliners. Two other cool free integrated features are the earnings calendar and the stock screener. Finviz Elite is their paid plan and comes with more advanced features.
You can use the free stock screener to scan for various fundamental data metrics, market performance statistics, or signals from technical indicators. Finviz is primarily beneficial for a stock trader, but even some key metrics about futures, forex and crypto markets are included.
The paid version, Finviz Elite, starts from $24.96 per month, disables the ads, and unlocks features like extended hours quotes, advanced charts, backtesting capabilities, correlation analysis, and real-time market data.
This trading software is also a SaaS solution and entirely web-based. There is no need to install anything locally on your PC. Simply log in and use it from everywhere.
6. 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. I like the tools pre-configured workspaces as a great baseline for analysis to start with.
Using Stock Rover is like having the ultimate spreadsheet superpower with years of fundamental data for 8,500 North American companies at your hands and over 10 years of in-depth financial data for over 650 different metrics like dividends, analyst ratings, Piotroski F-Score, Altman-Z score, growth and profitability figures.
It is also a stock tracking apps, where you can connect all 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.
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 mouse click, 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.
Stock rover is made for fundamental data analysts and investors who want to handle all their investment activities from one trading software. Charting, data exports, color coding, screeners and top priority support make the offer complete.
7. Seeking Alpha Premium
Most investors know Seeking Alpha as an excellent source for free stock market news and high-quality analysis from experts. Investors can follow their favorite authors and use the stock research features, including fundamental data analysis and charts.
Many don’t know that Seeking Alpha also uses a quant-rating system that evaluates, analyzes, and ranks thousands of stocks based on the latest fundamental data, including earnings announcements, profitability projections, EPS revisions, and stock price momentum.
The Seeking Alpha quant ratings allow investors to make unbiased investment decisions based on clearly defined financial metrics without spending hours on fundamental research.
The quant algorithms continuously categorize stocks in categories like Strong Buy, Buy, Neutral, Sell etc. Over the last 10 years, the quant ratings archived an average annualized return of +27%. In addition, Seeking Alpha is one of the best portfolio analysis tools. Since mid-2020, users can connect all their financial accounts in one place.
8. eSignal
eSignal is another comprehensive stock analysis software. I won’t go into detail about the web-based platform. I think that eSignal’s web-based platform is not state-of-the-art. But their trading software for Windows itself is ultra-cool.
It will be hard to find to search for functionality that eSignal cannot provide. A monthly software fee of $183 per month for the signature package is a word, mainly because taxes and exchange fees will be added on this! The Elite version of eSignal costs $373/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.
9. NinjaTrader
With more than 500,000 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.
Compared to Trade Ideas Pro, NinjaTrader is a bit more challenging for trading strategy creation. While you can build trading strategies in Trade Ideas without coding knowledge, NinjaTrader won’t do you the same favor. Instead, you have to learn C# and go through all the detailed help guides NinjaTrader provides.
However, you need to consider that exchange data costs extra. NYSE and Nasdaq data is cheap, but the fees can be high for CME and commodities exchanges. 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.
10. Benzinga Pro
Benzinga is one of the best financial news sites out there, and a few years ago, they introduced the finance tool Benzinga Pro. Whether you are an investor or trader, news can move the needle in investing and trading. That’s because news is often the catalyst for immense stock price movements.
Earnings, SEC filings, intraday news about FDA product approvals, or corporate news often initiate sharp stock volatility. Recently, Benzinga added much more features to Benzinga Pro, and now it is much more than the news and audio squawk tool that it was before.
Stock market analysis, broad market coverage, technical analysis with charting and indicators, SEC-filing research, an integrated trading chat room, stock scanners and options contract data make Benzinga a great allrounder these days.
Benzinga builds a bridge over various products and serves multiple types of investors with an excellent product. Day traders use Trade Ideas Pro, technical analysts consider TrendSpider, and Benzinga Pro is a great place to start with when you are still uncertain about the investment style you want to choose.
Bottom Line
Every stock analysis software has its advantages and disadvantages, and I hope the guide helped you determine which tool is the perfect one for you. The cheapest products have the worst data and limited functionalities, while quality is not only defined by price. The mix of purpose, functionalities, innovation, reliability and costs is the key to evaluate the perfect tool.
My favorite stock analysis software is Trade Ideas, since it has fast market data, extended analysis functionalities, accurate stock screeners, and advanced features such as backtesting and automated trading. The data feed is included in the price, a free trading room is available, and the customer support is impressive. Everything is well documented, and live webinars take place every week. I see it this way: Most people lose money day trading because they rely on old concepts. Trade Ideas is the only real innovator in the segment of stock analysis software.
If technical analysis is exceptionally important to you, TrendSpider can make a difference in your stock analysis and trading. News, options scans, audio squawk and a great community, make Benzinga Pro an excellent choice.
There are various free stock charts available to identify the best stocks to buy now based on your criteria. Finviz and TradingView are two of the most popular ones. Other tools like thinkorswim from TD Ameritrade have similarities to brokerage platforms like TradeStation and E-Trade. If you are uncertain what tool to use, it’s best to start with 1-month subscriptions or free trial periods. Nearly all charting software and stock market tools offer those.
Find The Right Stock Analysis Software
Now that we have looked at the list of the best stock analysis tools, apps and platforms, you may still be uncertain which software to use. The following mini guide will provide some additional guidance on how to choose the best one.
Define Your Trading Style
First, decide whether to start day trading (intraday stock analysis), swing trading (higher time frame analysis) or investing (long-term investment ideas). The more frequently you buy and sell securities online, the more expensive the tools will be.
Chose the Markets You Want to Invest In
Secondly, you need to choose your favorite market to invest in. That can be the U.S stock market, cryptocurrencies, futures, options or even markets in Asia and Europe.
Define Your Budget
It is crucial to define your budget before purchasing any trading software. The total expenses for the software should always be in the right proportion relative to your overall budget.
Subscribe With the Lowest Possible Expenses
In some cases, it might be tempting to subscribe on an annual basis instantly. This way you often save a lot of money. However, if you are not sure yet what tool you want to use, try all the tools you consider with available free trials and monthly payments before making the final decision.
Start Trading on a Stock Market Simulator
Excellent tools can boost your trading and investment income significantly. However, it always makes sense to practice on a paper trading account or the best stock market simulator. This way, you protect your money, and you get more familiar with the tools you use.
Stock Analysis Tools Features to Consider
Charting
You need good charting tool to succeed in the stock market. Look for technical analysis software that has clean charts that are easy to read with customisable time frames and layouts. The ability to switch between views quickly is key to price action analysis.
Features to consider:
- Candlestick charts
- Multiple time frames (1 minute, 5 minute, daily etc)
- Customisable layouts and colours in the stock analysis app
- Drawing tools for trend lines and support/resistance levels
- Historical data
Technical indicators are key to deep analysis. Make sure your software has:
- Moving averages
- MACD (Moving Average Convergence Divergence)
- RSI (Relative Strength Index)
- Fibonacci retracements
These help you find patterns, analyze stocks and make trading decisions.
Market Scanning
Good stock scanning is essential to finding trades. A good scanner allows you to filter stocks by specific criteria and save you time and effort.
Look for these features in a scanner:
- Customisable search parameters
- Real time data updates
- Ability to save and reuse scan settings
- Integration with charting tools
Popular search criteria include:
- Price changes (percentage or dollar amount)
- Volume spikes
- Technical indicator crossovers
- Fundamental metrics (P/E ratio, market cap etc)
By using a good scanner you can quickly find stocks that match your trading strategy and preferences.
Trading
The ability to trade from your analysis platform saves you time. Look for software that integrates with your broker or has built in trading.
Key trading features to consider:
- One click order entry
- Multiple order types (market, limit, stop)
- Risk management tools (position sizing, stop loss)
- Paper trading for strategy testing
Look for platforms that have real time quotes and Level II data so you can make informed decisions when entering or exiting trades.
Some extras to consider:
- Automated trading based on rules
- Options chain analysis
- Risk/reward calculators
- Portfolio tracking and reporting
Remember the best stock analysis software has all three – charting, scanning and trading – in one place. Take the time to try out different options and find the one that suits you best.
FAQs
How Often Is Stock Analysis Correct?
50%, math-based, you are right with your stock analysis. The art of correct stock analysis is to get statistics in your favor, so that the win rate and profit factor are on your side to keep an overall profit in the long run. Do not expect to be correct 100% of the time.
What Are the Best Tools to Analyze Stocks?
Free tools are great for managing small portfolios. You should not invest more than 1% of your capital per year to pay for analysis tools until you find your edge, which justifies higher investments.
Alexander Voigt • Senior Editor & Founder of DAYTRADINGz
Alexander is a day trader and investor with over 20 years of experience analyzing and trading the financial markets. He wrote for Benzinga and Equities.com and has been quoted on leading financial websites such as Business Insider, Investors.com and Forbes.