Best AI Trading Software for Traders

Best AI Trading Software

Best AI Trading Software for Traders

Investing is a difficult business. The volatility of the market means that stocks can go up and down at will. The rise in AI-powered stock trade software has made it easier for investors to navigate these turbulent waters by automating or predicting their trades. We’ve compiled a list highlighting the AI trading software most popular in 2021.

Best AI Trading Software for Traders

AI Trading Software lets you trade stocks, commodities, and currencies with artificial intelligence. Artificial intelligence can be used to analyze data and make investment decisions quicker than humans. This software is becoming increasingly popular because it has demonstrated high profitability rates for as long as 10 years without any human intervention.

This blog post will discuss the AI stock trading software. You can determine if it is worth your time to invest in the software.

1. Trade Ideas

Trade Ideas is an online AI trading software and social networking for financial professionals. Users can share stock picks with others and compete in a virtual stock exchange called “The Idea Stream” for profits.

This is the artificial intelligence stock trading software in its simplest form:

  • Trend prediction engine for traders
  • Stock Picks Automatical Technical Analysis by Active Traders with Self-Regulation of Submissions
  • All submitted picks are subject to a review before being published in the Idea Stream
  • Tracking tools to track your picks and receive notifications when they change
  • View the Idea Stream web app or mobile app to share ideas, track portfolios, and view the Idea Stream
  • Create custom alerts according to strategy or stock Trade Ideas analysts write daily posts.

What are they doing?

Artificial intelligence is used to analyze news and investor sentiment to generate trade ideas. These trade ideas can then be shared with the community to allow other users to research them and possibly use them in their portfolios.

What is the secret to it?

You can submit ideas (stock picks), as a trader to the Idea Stream (social networking platform), where others traders can see them. If an idea is popular enough, it will be included in the Top Ideas section. This section contains stock ideas that have performed well over the past 7 days.

You’ll earn points towards the Trade Leaderboard if your pick is selected to appear in one of these Top Idea spots. Each month, the top trader is awarded $850 worth of Amazon gift cards at the end.

You can also earn points for having your ideas displayed in ways that aren’t competitively assigned on the Idea Stream platform.

Trade Ideas employs machine learning algorithms to analyze non-structured data, such as company reports, earnings call transcripts, news articles, and other information, along with structured data, like financials or sentiment scores. These algorithms are then used to generate trade ideas. They have a wider range of data than other investment research companies, even though they aren’t the only ones doing it. They currently monitor over 16 million companies around the world and analyze more than 300,000 news articles each day. Users can find trade ideas and execute them easily on this platform.

Pros

  • They have a vast database that allows them to generate more trade ideas than other investment research companies.
  • Social networking is available on the automated technical analysis platform. This allows users to connect with one another and share strategies for buying and selling orders.
  • It is very user-friendly

Cons

  • The financial industry has been harshly critical of it as a high-frequency trading style that challenges traditional methods.

Also read: 3 Ways Software to Help You Improve Your Trading Decisions

2. TrendSpider for Stock Trading

TrendSpider provides real-time analysis from millions of websites for news and trends. It also offers detailed company research on more than 500,000 global businesses.

This is the stock trading software in its simplest form:

  • A free version that allows up to five companies to be monitored
  • Machine learning algorithms are used to find actionable investment ideas in real-time.
  • Detailed company profiles and financial information on more than 500,000 companies from over 100 industries in 80 countries
  • The ability to set up email alerts so you can receive news about the companies that interest you
  • In-depth analytics of each company, including financial, social media, and website data
  • Trend analysis of industries and global markets

What are they doing?

TrendSpider Alerts is their product. It uses machine learning to extract news and trends from large numbers of publicly accessible sources. The alerts are organized in a dashboard that allows you to monitor them easily. It’s a more efficient version of Google Alerts.

Artificial Intelligence stock trading software allows you to search companies to help you find investment ideas. You can view company profiles that include information such as website data and social media, along with financials and analyst recommendations.

What is the secret to it?

TrendSpider employs a machine-learning algorithm that monitors millions of websites in real-time to generate investment ideas. The algorithm analyses data about companies, industries, as well as the global economy.

TrendSpider’s AI algorithms are capable of processing more than 2 petabytes per day of unstructured texts. They can therefore monitor market-moving news stories faster than other investment research companies.

This is how it works.

  • Search by company name to view their business profile
  • You can create email alerts for any company you wish
  • They give information about each company, such as earnings, mergers and acquisitions, debt, and so on.
  • It monitors social media and helps you gauge the public’s sentiment about a stock.
  • They give detailed information about the company, its competitors, and the industry they work in.
  • Stock screening can be done using their machine learning algorithms. This will generate ideas based on your search criteria.
  • You can enter “Apple” in the tool to get a list of possible ideas.

Pros

  • It contains a lot of data. The more data you have, the greater your chances of creating a predictive model that is accurate.
  • The interface is very clean and simple to use
  • 7-day free trial to try the stock trading software before you buy it

Cons

  • There is no free version to test without credit card information

3. Black Box Stocks

Black Box stocks is a digital investment platform that uses artificial intelligence and machine-learning algorithms to generate trade ideas. Jean Marie (“JM”) Belloir founded it. She is an ex-hedge fund manager who also founded two algorithmic trading styles firms.

This AI trading software provides real-time financial market analysis to traders, investors, analysts, and traders. They also offer a forum for investors to discuss market conditions and share information about investing in different stocks.

What are they doing?

They use data to determine the best time to sell and buy securities. They combine machine learning algorithms with analysis of news stories worldwide, sentiment on social media, price movements, financial reports, technical indicators, and company-specific information to do this.

They have several main sections on their website: Sentiment, Community Forum, Research, and Alerts

This section contains market overviews, estimates of earnings per share (EPS), price targets, analyst recommendations, and stock trading ideas. It also includes reports on insider stock trade (positive or negative).

You can share your thoughts and ideas with others in the community forum about investing. You can post your thoughts and insights on any topic that interests you. This lets you get feedback from others who have done research on the same stock or company.

The sentiment section shows what the community thinks about particular stocks, markets, or industries. This information is derived from millions of pages of text.

Finally, the alerts section lets you set up custom notifications when certain events occur (positive or negative), on stocks, companies, industries, etc.

What is the secret to it?

You must first create an account.

Next, create a portfolio of companies that you wish to monitor and follow. Portfolios can be added by other users.

A forum for users to discuss the stock market, share their thoughts on investing in companies, and offer advice.

Share your investment knowledge and insights with others.

You can use the chatbox to ask questions to other users and to the company if you have any further questions before you execute a trade.

Let’s take, for instance, the case of me wanting to create a portfolio with Apple as an example.

So that I can trade ideas on all my stocks simultaneously, I can create a separate portfolio for each company.

Pros

  • It is easy to use, and the interface is clean.
  • Each stock that you are interested in portfolio management can be set up as a portfolio

Cons

  • It doesn’t provide any data about the companies, but it does offer trade ideas for future performances based on past performance by technical analysts for retail investors

4. EquBot for trading in Stock Market

EquBot, Inc. (EQBOT), is a financial technology company that designs and sells AI-powered algorithmic systems. EquBot’s artificial intelligence platform EquBot(tm), which EquBot built, allows anyone to create automated stock trading strategies by using a drag-and-drop interface. Equbot Inc.’s EquBot ™ Builder allows users to backtest stock trading strategies across multiple instruments, markets, and timeframes.

This is the stock trading software in its simplest form:

  • It is a platform for creating algorithmic stock trading strategies.
  • Backtesting strategies can be done on stocks, commodities, currencies, and other financial assets using historical data
  • The stock trading software uses artificial intelligence algorithms to recognize patterns and generate trade ideas.
  • Users can choose the actions they take when a trading concept is accepted (e.g. You can place a new or modified order, etc.

What are they doing?

Equbot(tm), Inc.’s flagship product, EquBot(TM), allows anyone to create automated stock trading strategies via a drag-and-drop interface. It’s very similar to Trade-Ideas. You simply choose an indicator or specification from the list and drag them into a workspace. There you can then see how they interact.

What is the secret to it?

Interactive Brokers allows you to access trade ideas through your brokerage account. You can also access them via the company’s website. It can be integrated with other brokers like Interactive Brokers and TD Ameritrade. Fidelity, Thinkorswim, and Fidelity.

Pros

  • You don’t have to give any credit card information in order to test it for options trades in the day trading
  • It is easy to use, with no coding required.

Cons

  • Trading ideas are less accurate than other platforms

Also read: How to Read Candlestick Trading Charts – A Complete Guide for Beginners

5. Kavout

Kavout, a cloud-based platform, offers trading options, market strategies, and price alerts. It was designed to assist traders all over the globe in developing successful stock trading strategies by using machine learning techniques and Artificial Intelligence algorithms. It is the best AI trading software and stock trading platform.

This is the stock trading software in its simplest form:

  • It is very intuitive and clean.
  • Users can create automated stock trading strategies by simply dragging and dropping UI
  • The stock trading software uses artificial intelligence algorithms to detect patterns and generate trade ideas for large losses stocks/stocks expert advisors.
  • Once a signal has been recognized, traders can modify your market strategy to suit your needs (e.g. You can place new orders, change an existing order, or cancel one. You don’t need to pay any extra for this.

What are they doing?

Their approach to trades ideas is unique. They not only provide technical analysis for traders but also give fundamentals about the company. This is great if your goal is to find the undervalued stock. The platform includes many pieces of data such as earnings revisions and analyst recommendations.

What is the secret to it?

Kavout is the only platform that allows you to either sign up for a premium monthly plan or pay as you go. To be able to use their trade ideas, you will need to create an account. Kavout is integrated with Interactive Brokers and TD Ameritrade among others.

You can view a list of stock trading strategies created by other users using the pattern search engine.

To test it, you will need your E*TRADE login credentials. Kavout is cloud-based, so you can access all your data and strategies from anywhere.

Pros

  • It’s completely free to use. You don’t even need to create a username or password to achieve remarkable success.
  • It can be used to provide information for market trades that are in-depth by experts, day traders, investors and expert advisors.

Cons

  • Some traders have complained about trading bot payment options not being available in certain countries other than the United States.
  • Stock charts are not covered by a money-back guarantee

6. Zignaly for Automated Trading

Zignaly, a self-service cryptocurrency automated AI trading platform, allows you to fully automate all your trades according to trading rules. They aim to maximize profits and reduce the risk for active traders by providing a transparent, trustworthy, and smart crypto marketplace for stock prices and stock exchanges.

Here’s the platform in its simplest form:

  • Using their educational resources, you can create automated stock trading strategies by simply dragging and dropping UI.
  • This automated system recognizes stock price patterns in daily life using advanced programming languages and artificial intelligence algorithms. It then generates trading ideas for options traders, breakout detection, day trader, win rate, and in-depth market trades over multiple time frames.
  • This artificial intelligence trading software provides you with various market analysis tools and swing trading options to help you with trading success. These are useful if your goal is to find undervalued coins

What are they doing?

This is a unique approach because they offer different analysis tools. These are great for those who are looking for low-value coins. It also uses artificial intelligence algorithms to identify patterns and create stock trading opportunities.

Zignaly is a Cryptocurrency stock trading platform that fully automates trade execution. It executes trades automatically on supported exchanges using user-defined strategies.

What is the secret to it?

All you need to do is link your crypto exchange accounts and choose a strategy. Zignaly will take care of the rest. The platform is compatible with Binance, Bitfinex, and Kraken. Stock trading strategies can be viewed on other users’ websites. These strategies range from low risk to high return. These strategies are low-risk strategies to high-profit returns.

Pros

  • To access swing trading with the ai system pattern search engine, you don’t have to give any other information than creating a username/password.
  • It’s completely free and you don’t have to pay monthly fees or commissions. This includes retail investors as well as traders.

Cons

  • Not all automated trading strategies can be used for financial markets.
  • To make the platform work, you will need to connect Zignaly’s trading bots with an exchange account

Also read: 7 Websites to Track Live Bitcoin Exchange Value

7. Meta Trader 4

MetaTrader 4 is a professional forex stock trading platform that provides algorithmic stock trading and social analysis. Meta Trader 4 can only be accessed via a desktop application, unlike the other platforms on this list.

Software in a nutshell

  • It has a large user base, and you can develop custom strategies with its Advanced Programming Language (MQL4).
  • It is completely free AI trading software. You don’t have to give any personal information except for creating a username or password.
  • It provides real-time analysis for different stock trading instruments to many day traders
  • The platform offers chart windows and day trading charts that will help you analyze live market trading.

What are they doing?

The platform is well-known in the forex market and has a large user base. You can also use advanced features like an economic calendar, social analysis tools, and technical indicators to help you trade stocks faster. Its AI stock trading bots will assist you in

Meta Trader 4 has many features that are useful for professional and novice traders, including backtesting, charting, and automated trading strategies with MQL4/MQL5 among others.

What is the secret to it?

You can download it as a desktop-based automated trading platform and install it on your computer (Windows, Mac, or both). Logging in with your username or password will allow you to access the platform. This automated trading system AI stock trade bots can be used to access trading signals and historical data-based trading options. It also provides a simple trading process.

Download the platform from their site to get started. After downloading the platform, log in to your account and create an automated trading account. You can either create your own automated trading strategy or borrow one from another user on the platform. There are a number of modules that allow you to create automated trading strategies, including text screeners, time and sales, and stock market algorithmic software.

Pros

  • No prior experience is necessary.
  • It provides professional tools for traders both novice and experienced.

Cons

  • The free plan does not cover all the features that you can access on the platform.
  • To make the platform work, you must download it (not accessible via the browser).
  • For beginners, the software may be difficult to use

Conclusion

Check out our list of AI trading software and choose the one that best suits you. Each one has its own unique features so it’s a good idea that you explore them all before making any decisions about how you trade the future. You don’t need to be an expert trader, but you can use these wonderful pieces of software online. It’s never too late to start finding the right AI trading systems for you.

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