Tradespoon provides a mix of a stock picking service, and live trading service with education components. But how does Tradespoon compare to other providers in this segment? That's precisely what you will find out in this Tradspoon review.
Tradespoon presents itself as a Trade Intelligence Platform that wants the users to trade more smartly. They argue that successful professional traders do not depend on luck. But on the best possible skills, tools, and techniques. Tradespoon starts with big promises when they say that they work with:
- a capable software,
- hyper-fast data transfer, and
- outstanding tools
Tradespoon enables its users to make well-informed decisions with the highest potential for profit. And they claim to be user-friendly and affordable. You will also find training videos, advanced tools, and real-time data on many other trading platforms.
I think it is always a good idea to check the people behind the scenes to find out if you believe you may trust them. Continue reading the Tradespoon Review to find out if Tradespoon can keep all these big promises.
About Vlad Karpel
Vlad Karpel, CEO, and founder of Tradespoon were the Executive Vice President and the Head of Technology of OptionsXpress. The figures for the following years are impressing, and they seem to tell a story of success.
By now, he looks back to more than 15 years of experience in this business. He wants to share it with the users to help traders of all different levels to:
- make better informed,
- smarter and
- more successful trades.
He believes in the positive effects of the right teaching methods and promises that the users will always be supported at Tradespoon. Vlad is ready to answer all kinds of questions; the final aim is to enable the users to succeed on their own. Vlad Karpel offers the subscribers to look over his shoulder while he is trading himself.
Products | Services | Costs
Tradespoon offers a free membership, and three paid membership-levels.
Benefits for subscribers:
- Getting Started Guide with a quick-start video to make you see how to handle the platform and what you can do
- Video Training Library: Dozens of short educational videos for traders
- Live Educational Webinars with new live trading sessions and webinars every week
- HD Webinar Recordings that allows you to watch the informative videos you may have missed in the past
- The Market Commentary: Tradepoon's blog that is updated twice every week.
- Case Studies with step-by-step-videos giving you the chance to watch live trading examples
- Smart Trading Guides in the shape of PDF-checklists and guides to help you to improve your trading decisions
- The Virtual Trading Account to practice with virtual money and without any risk
- The Dedicated Support always being ready to answer every question you may have
Tradespoon's tool for analyzing and for predictions is called the Trade Intelligence Platform.
A weekly list of over-performing and under-performing stocks provided by Tradespoon. See stocks that overperform and underperform compared to the S&P 500 Index.
They show the historical performance of every stock. The idea is to enable you to predict the performance in the future. Get a better understanding of up-trends and down-trends and their potentials.
Check the current risk-reward ratio by using the probability calculator by using past data to determine if prices are above or below certain price levels of importance.
Active Trading Tools
A particular service called ActiveTrader for traders who are too busy to do their research but still want to trade active daily.
A unique Tradespoon service for swing traders who are too busy to do their research but who want to trade every week.
Stock Forecast Tool
For analyzing and predicting the movements of stocks including:
- stock forecast tool
- company screener
- profit calculator
- portfolio manager
- education with weekly live trading sessions and training webinars and videos
Webinars and educational trading videos provided by Tradespoon weekly. Those videos included content about technical analysis and fundamental trading.
Forex Forecast Tool
Similar to the Stock Forecast Tool but with a focus on forex trading using currency pricing, charts, and price forecasts.
Futures Forecast Toolbox
It makes the offer complete and adds to the stocks- and forex forecast tool by predicting potential highs and lows of the next trading day.
Trade Idea Tool
One of the features to personalize the predictions according to your investment criteria and price targets. It forecasts potential price levels on your chosen time horizon based on a specific strategy.
Premium Member Stock Picks and Options Picks Alerts
About the highest quality trades. Including the expected direction and the entry and exit prices.
Stock Focus List
The lists include liquid stocks and seasonal charts along with probability projections for the individual share.
The portfolio toolbox is part of the trading platform and helps to envolve the trading plan for short term stock market and swing trading. It's offering the perfect organization of your portfolio focusing on:
- Portfolio Analysis
- Portfolio Optimization
- Portfolio Management
Virtual Trading Tool
Practice with virtual money without any risk by using this tool. It's always a good idea to start with paper trading before putting real money at risk.
Tradespoon allows you to integrate third-party tools like:
RoboStreet is a market commentary based on an algorithm designed to offer statistical advantage offering insights and trend analysis for potentially good investing opportunities.
It's a computer-generated functionality and includes Tradespoon's top 10 stock recommendations. They are a predictive financial pick to learn how to buy and sell stocks and options in the short term. You will learn how the algorithm works, the more you use it.
Elite Trading Circle
The Elite Trading Circle is a small group for self-directed investors and traders. They have extended access to Vlad's live trading sessions. A new WeeklyTrader service is also included for the active investor and active trader.
Video Training Vault
Also, this section is containing a lot of useful video lessons. You can watch every video by using your computer, your laptop, or your mobile devices. Whenever you want and where ever you are. And remember, this is for free. Tradespoon's free Trading Guide is as user-friendly. It is easy to select the topics you want to investigate. You don't have to go through a lot of others before you get to the wanted point.
This particular guide includes all critical aspects of trading. Like technical analysis, the use of research tools like stock screeners. This guide is split into four sections:
- Tradespoon 101 for beginners
- to get familiar with the Tradespoon tools
- Advanced Options Strategies
- understand options, options spread and risk
- Technical Analysis
- Use Tradespoon's forecasting
This Trading Guide is also available as a PDF-book that you can download whenever you want.
Costs and Performance
Tradespoon offers four different membership options you can choose with a month by month subscription.
Forever Free Basic Subscription for Beginners: Enjoy access to all educational videos, live webinars, and case studies - for free and without any time limits.
Stock Forecast for $ 127 per Month: Full access to the Tradespoon Stock Forecast Toolbox. Improve your short-term and long-term investments.
Premium Package for $ 197 per Month: Full access to everything that Tradespoon offers. Plus expert stock and options pick with entry and exit points, alerts, and updates per SMS or e-mail.
Tools Bundle for $ 147 per Month: For traders who want to make their picks with Tradespoon Stock Forecast Toolbox. Once you signed in for a membership with a monthly charge, Tradespoon offers you to pay your money back. They do if you are not completely satisfied within the first 30 days of your membership. This sounds fair to me as it lowers your risk of making a mistake. Are you willing to proceed with an annual subscription? Then you can save up to 77% compared to the monthly plans.
How accurate is Tradespoon? Let's have a look at the performance tables. More valuable points for your final decision are the:
- Tradespoon Expert Picks Performance list,
- Tradespoon Live Trading Performance list and
- the Tradespoon Live Forex Trading Performance list.
These lists will give an impression of how Tradespoon is doing the job (as of January 1, 2019). Here is one negative point about the performance graphs. The performance is based on backtests only.
Those trades where never been executed under real market conditions. For me, it is a bit misleading that the headline is "Tradespoon Live Trading Performance," and the result is "backtest based." In my opinion, the headline should be "backtest performance"!
Also, it seems that there are no commissions included in the calculation. There are not account statements posted, and the brokerage account isn't streamed in real-time.
- Founded: 2012
- Company Address check: Superdome LLC, 318 Half Day Rd., Suite 215 Buffalo Grove, IL 60089
- Free trial: Yes
- Money back guarantee: Yes, 30 days
- Verified income statements: None, but published backtest-results
- User Experience based on internet research: TrustPilot 3.5/5
Tradespoon Review Summary
The Tradespoon free trial is the best starting point for new traders. And the 30-day money-back guarantee is something unique in the trading educator space, and that should keep the number of Tradespoon complaints low. The seasonal charts, price targes, and the probability calculator are two of the interesting advanced options.
But there are some downsides too for such trading tools like Tradespoon. The live trading performance and performance graphs at tradespoon.com are hypothetical results and backtest based. It's a bit misleading that the headline above the performance tables is called "Tradespoon Live Trading Performance," but the results where never archive with live trading. Also, it seems that the commissions are not included in the calculation.
Option Strategies Insider is an alternative to TradeSpoon. The founder Chris Douthit worked for Goldman Sachs and now teaches his students options trading, and he also sends out trade recommendations every week. Proceed reading the Option Strategies Insider review and learn more about the benefits of the service and the free membership.
Update August 2020: It seems that Tradespoon currently moves his business from tradespoon.com to yellowtunnel.com. My interpretation is based on the fact that some navigation elements like the Free Training Vault and the Performance tab at tradespoon.com are now inactive. The YouTube videos also have new branding on the slides of the presentation. Anyway, the YouTube channel still has it's the old name.
The Stock Forecast Toolbox is no longer available under subscriptions. Instead, the new subscription type is limited to one called Aggressive Power for trade ideas and options picks as a premium member. That might change again in the long term or even soon if the transition process happens right now. Make sure to have your trading plan in place. Always start with a paper trading account when following new services. That's important for stock picks, and options trading. I also noticed that the video training vault is now the YouTube channel. Their, Vlad explains his market perspectives based on technical analysis, with price targets, trade management-, and trade ideas.
Pros and Cons
- 7-day free trial and training
- Possible refund within 30 days
- Free weekly live feed via YouTube
- Options trading is a high risk
- Backtest results only
- No real proof of performance