Technology is transforming how we trade stocks. As an investor, you have more tools than ever to make smarter trading decisions. Automated trading software, in particular, is reshaping the landscape.
Automated trading platforms use algorithms similar to those used by the best algorithmic trading software to automatically execute buy and sell orders for you based on your trading strategy. They can scan the market for opportunities, place trades, and monitor your positions far faster than a human ever could.
No matter your experience level, automated trading platforms are the future of active investing. You’ll gain a competitive edge in today’s dynamic markets by leveraging technology to make smarter, faster trading decisions. The rise of automation means the best automated trading software can help any investor trade like a pro.
Best Automated Trading Software
When it comes to automated trading software, you’ve got options. The big players are:
- StreetBeat: Known for real-time market insights, StreetBeat is a popular choice. Their algorithms monitor current market conditions to detect opportunities and place trades for you automatically. Great for hands-free trading.
- TradersPost: TradersPost works with a wide range of strategies, from day trading to long-term investing. They offer tools for backtesting, optimizing, and automating your trading ideas. If you want to automate an existing strategy or test out new ones, TradersPost is a solid platform.
- Trade Ideas: For actionable trading insights, check out Trade Ideas. Their AI scans the market in real time to find opportunities based on your criteria. You get a stream of trading ideas daily to act on as you please.
- TrendSpider: Looking for advanced charts and technical analysis? TrendSpider should be on your radar. They provide interactive charts, performance statistics, and custom indicators to help identify market trends and trading signals. Great for technical traders and chartists.
- TradingView: Want to join a community of investors? TradingView makes social investing easy. You can share charts, strategies, and insights with fellow traders. They also offer sophisticated charts and tools for analysis. If you thrive on collaboration and feedback, TradingView is a must-see.
- Mindful Trader: Mindful Trader scans the markets to identify buying and selling opportunities using technical analysis. It is ideal for investors who want to take the guesswork out of trading and rely on data-driven insights.
- SoFi Invest: SoFi Invest excels at providing diversified investment options beyond stocks, including ETFs, options, and cryptocurrencies. Their automated investing tools help you create a balanced portfolio based on your financial goals.
StreetBeat is an AI-driven investment platform with automated trading tools to help you reach your financial goals. Their algorithmic trading features analyze the market to provide reliable investment suggestions tailored to your needs.
StreetBeat offers competitive investment choices like stocks, ETFs, options, futures, forex, and crypto. You’ll have access to in-depth investment tracking and analysis tools to monitor your portfolio’s performance. StreetBeat’s AI continuously scans the market to detect opportunities based on your selected investment strategies.
StreetBeat has flexible plans to suit any investor:
- 7-day free trial to test the platform
- Annual plan: $10/month ($120/year)
- Monthly plan: $12.50/month for a shorter commitment
Whether you prefer manual trading or AI-automated strategies, StreetBeat has an investment solution. Their AI-driven tools and low fees make investing simple and affordable.
TradersPost is ideal for active traders looking to automate their trading strategies across various brokers and asset classes. With TradersPost, you can automatically execute trades through your broker of choice based on signals from services like TradingView.
TradersPost offers four pricing tiers:
- Free: Perfect for trying the platform. Access to over 100 instruments and basic strategy-building tools.
- Starter: $49/month. Everything in Free, plus multi-broker support, paper trading, and strategy backtesting. Great for beginners.
- Basic: $99/month. All Starter features plus access to TradersPost’s strategy marketplace and community forums. For casual traders.
- Pro: $199/month. Everything in Basic plus unlimited strategy automation, premium data feeds, and dedicated support. For serious retail traders.
- Premium: $299/month. All Pro features plus institutional-grade data, server-side automation, and a dedicated account manager. Ideal for professional traders.
No matter your experience level, TradersPost has an automated trading solution to fit your needs and budget, including but not limited to stock screening. Sign up today for free and take your trading to the next level!
Trade Ideas is an advanced automated trading software offering in-depth market analysis. With its advanced analytical tools, Trade Ideas combines proven stock scanning methods with AI to provide the best insights. It offers a full suite of tools like:
- Different scans
- Chart windows
- Educational resources
Trade Ideas’ advanced scanner functionality, educational program, and live chat room give you everything you need to optimize your trading. Some of its main features include:
- Holly AI – An AI assistant that provides trade suggestions in real-time.
- Charts – Customizable charts to visualize market data.
- Pre-built stock scans – Scans to find trending stocks, breakouts, etc.
- The Oddsmaker – Calculates the probability of a stock’s next move.
- Brokerage Plus – Links your brokerage account to place trades directly from the platform.
- Trade Ideas Chat Room – Chat with expert traders and get their insights.
- TI University – Video lessons and courses to help you master the tools.
Trade Ideas offers different subscription plans based on your needs. The Standard plan ($84/month or $999/year) gives you 10 charts, 10 price alerts, and visual trade help from Holly AI. The Premium plan ($167/month or $1,999/year) provides 20 charts, 20 price alerts, access to Holly, and Brokerage Plus connectivity.
For those looking to improve their trading strategies, Trade Ideas’ real-time data, advanced scanning, AI-based trade ideas, and automated trading capabilities are a great option.
TrendSpider is an innovative automated charting and trading platform. By utilizing machine learning, TrendSpider adapts to your trading style and patterns. TrendSpider offers many useful features for technical analysis and trading:
- Raindrop Charts – See price action and trends across multiple timeframes on one chart.
- Automated Trendline Analysis – TrendSpider detects trendlines and channels automatically.
- Automated Heatmap – Quickly spot overbought and oversold stocks.
- Multi-Timeframe Analysis – Analyze charts with timeframes from 1 minute to 1 month.
- Multi Symbol View – View multiple stocks on one chart to identify relationships.
TrendSpider has three pricing plans to suit any trader:
- Premium ($39/month, $198/year)
- Elite ($79/month, $351/year)
- Advanced ($129/month, $409/year)
While the platform is innovative, beginner traders may struggle to utilize all features fully. TrendSpider University provides education to get the most out of this automated trading software.
Overall, TrendSpider is an advanced yet easy-to-use stock charting and analysis platform for technical traders. With machine learning algorithms, trendline analysis, and multiple timeframe charts, this software aims to simplify the trading process.
TradingView is one of the most popular charting and social networking platforms for traders. It offers an impressive array of tools for technical analysis that appeal to traders of all experience levels.
TradingView’s customizable HTML5 charts provide an interactive trading experience. You can choose from multiple chart types like line, bar, candlestick, and Heikin Ashi. Over 100 intelligent drawing tools and 70+ technical indicators help identify trends and patterns. The charts are fully responsive, so you can analyze the markets on the go using TradingView’s mobile apps.
Whether you are a new trader learning the ropes or a seasoned pro, TradingView has resources to help you improve your skills. Their education center offers video courses and how-to guides on technical analysis, trading strategies, and platform features.
TradingView delivers an impressive set of tools for technical analysis and trading at a very affordable price. For most casual traders, the free version should suit your needs. If you require more advanced features, paid plans start at just $9.95 monthly. With responsive charts, a collaborative community, and educational resources, TradingView is a great all-in-one solution for your trading needs.
Mindful Trader uses sophisticated algorithms and statistical modeling to identify profitable swing trade opportunities in the stock market. This automated software provides trade alerts across various sectors and markets to diversify your portfolio properly. You won’t be stuck trading just tech stocks or penny stocks.
When it comes to its trade strategies, Mindful Trader also tops the charts as one of the best backtesting software on the market. The firm backtests all of its strategies over many years of market data to ensure they would have been profitable in the past before ever recommending a live trade. This way, you can have confidence the numbers support the trades.
Mindful Trader’s strategies aim to identify trades with a raw edge, meaning the statistical probability of the trade being profitable is in your favor. They don’t rely on ‘hot tips’ or hype. The platform utilizes Monte Carlo testing, correlation analysis, out-of-sample testing, and standard deviation analysis to ensure their strategies can withstand rigorous statistical scrutiny.
Their data-driven approach leaves little room for subjectivity. For only $47 a month, Mindful Trader provides sophisticated statistical modeling and analysis to identify high-probability swing trades so you can stop guessing and start making better trading decisions. Their diversified, backtested strategies aim to give you a statistical edge in the market.
SoFi Invest is an excellent choice for hands-free investing. Their Auto Invest portfolios are designed to help you achieve your financial goals on autopilot.
SoFi Invest’s Auto Invest portfolios charge no management fees. You’ll be hard-pressed to find robo-advisors that offer free automated investing and portfolio management. The only fee you may incur is a $75 account closure fee.
SoFi will automatically rebalance your portfolio each quarter if it drifts more than 5% from your target allocations to keep you on track. This helps ensure your money works efficiently to meet your goals.
When you open an account, you’ll set an investment goal like saving for retirement, a home, or your child’s college education. SoFi will then create a portfolio tailored to your timeline and risk tolerance to help you achieve that goal.
SoFi Invest provides unlimited access to certified financial planners for investment guidance and advice at no cost. They can help determine if your investment strategy is on the right track and adjust as needed to keep you progressing toward your goals.
SoFi Invest has no account minimums or balance requirements to open an account or access the robo-advisor. You can start with as little as $5 and still use the automated investing and planning features.
Final Thoughts on Best Automated Trading Software
When evaluating automated trading platforms, consider your needs and trading style. Do you want an AI that makes all your trading decisions or tools to help you develop, test, and execute your strategies? Maybe a mix of both? The options run the gamut.
No matter what, look for software with strong security, 24/7 customer support, and a simple, intuitive interface. Check reviews from real traders to gauge the learning curve and see what features they found most useful. Many platforms offer free trials so you can get hands-on experience before committing.
Whether you’re a beginner looking for guidance or an expert wanting to scale your trading, automated software can help reach your goals. Finding the right balance of automation and control for your needs is the key. With so many choices, do your homework, and don’t be afraid to switch platforms if the first one you try isn’t the perfect fit. Your ideal automated trading partner is out there!