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Evaluating the market conditions is vital to a trader’s success. Access to fundamental data or technical analysis allows investors to pick and invest in stocks that have potential in the long run.
However, the overwhelming amount of stocks in the market makes it impossible for any trader or investor to create a strategy and pick the most rewarding options.
Interestingly, this is where investment tools and analysis software come to rescue investing strategies for amateurs and experienced traders alike.
Access to the right investment tools and analysis software allows you to:
- Better insight into market movements and sentiments.
- Increased speed and efficiency of taking trades.
- Reduced emotional bias and increased profitability.
- Improved risk management and portfolio optimization.
Sounds like stock analysis software could help you multiply your gains? Let’s dive into the best tools and analysis software in the market.
Best Investment Tools & Analysis Software To Boost Your Trade
Overview:
AltIndex is a unique analysis software that ranks among the best in the market. It tracks thousands of US stocks, covering the NASDAQ and NYSE in a few seconds.
The platform is also competent for tracking down trend cryptocurrencies that could soon register a positive movement. Once signed up, users also have the option to pick their favorite stocks based on their sentiment, analysis, and market movement.
Core Features
AltIndex relies on alternative data to give its users an edge in their trading opportunities. Its potent AI analyzes millions of social media platforms, news feeds, and blogs to evaluate market sentiments and pick stocks that could be the next to boom.
AltIndex also leverages the alternative data to yield a ranking score for all its offerings. The platform ranks stocks and cryptos from 0-100, with a higher score having a better chance to outperform in the broader market.
Pros
- Potent AI that analyzes social media sentiments for different stocks.
- Robust dashboard that tracks thousands of stocks over a few clicks.
- Regular email service suggests the best stock picks.
- Affordable subscription starting at $29 per month.
Cons
- The platform has limited historical data.
Overview:
Stocklytics is another analysis software providing global exposure to investors. The platform can access exchanges from 11 marketplaces, including the UK and Europe.
Much like AltIndex, StockLytics also offers technical ratings to individual stocks to highlight their profitability. This further allows detailed analysis of whether you should buy, hold, or sell on all supported markets. Its real-time analysis, technical grading, and free-to-use model make it a great option for traders at every path of the learning curve.
Core Features
StockLytics offers some of the most robust market analyses in the industry. The platform keeps investors updated with the latest market movements by skimming through leading financial news websites, including Yahoo and Barrons. Every time there’s a story concerning the stocks or ETFs in your portfolio, the platform sends an alert.
In addition, the platform also offers AI-generated price predictions, including average, low, and high-end estimates. StockLytics also offers an in-depth comparison between key players of a relevant industry.
Pros
- Access to over 6,200 and 3,200 ETFs.
- Free to use.
- AI-backed technical scores and price prediction.
- Integrated with financial websites like Yahoo and Barrons.
Cons
- No support for cryptocurrencies or commodities.
Overview:
Next, we have StockRover, a versatile analysis software that integrates with almost every large broker, including Firstrade and Fidelity. While the platform doesn’t offer charts from other brokers, they will look after P/L reporting and offer stock-picking recommendations on portfolio rebalancing.
StockRover provides traders with over 150 intelligently pre-built screeners for better insight into top-performing stocks. The software’s filtering, stock scanning, and fundamental watchlists are among its core highlights, making it a great fit for long-term investors who want to maximize their portfolio income.
Core Features
StockRover integrates with Yahoo Finance and Benzinga to keep users updated with the latest news and social media market movements. It is primarily focused on technical analysis and market movements as the platform charts fundamental financial strength indicators for individual stocks in the market.
Backing StockRover has 10+ years of scanning possibilities and information that help investors get the most real-time analysis for their trades. What’s more? Setting up StockRover is easy. It takes only 15 minutes to set up and offers several screeners and portfolios to make you trade-ready in no time.
Pros
- Leverages advanced comparative analysis for better reporting.
- Offers insightful recommendations with supporting data.
- Available across Smartphone, PC, Mac, and Tablet
- Insightful reports on stock information generated in real-time.
Cons
- The platform lacks a few technical indicators.
- MetaStock
Overview:
Metastock is a stock analysis software industry standard. This sophisticated tool was released in 1985 and has continued to provide insightful, actionable analysis to short and long-term traders.
The platform offers an array of research tools for both technical and fundamental analysis. For instance, traders can leverage the MetaStock Xenith to access real-time news, data, and analytics. At the same time, they can also access Daily Charts for after-market analysis to solidify their market movement.
Core Features
MetaStock is a potent charting software that generates data from exchanges worldwide at the end of the trading day. It offers over 300+ technical indicators covering a wide range of assets, including ETFs, equities, forex, and mutual funds.
Sitting at the core of MetaStock’s functionality are its PowerTools. This pre-built system package allows traders to backtest methods, generate signals, filter markets, and even use advanced technologies to anticipate the likely future performance of individual assets. Additionally, traders also have the option to buy separate add-ons and plug-ins for functions and customization.
Pros
- Access to a variety of scanning and analysis tools.
- Offers a wide range of customization features.
- Simple UI and UX that is easy to use.
- Users have the option to code trading systems and indicators.
Cons
- The subscription can be higher than other options in the market.
- Scanz
Overview:
Concluding our list is Scanz, one of the best analysis tools for day traders. This software brings real-time market insights and news data straight to your dashboard.
Scanz offers high data speeds, which can help users with seamless charting and market planning. You can also leverage the platform’s Chart Montage function to trade without charts.
Core Features
Coming to its core features, Scanz offers a library of fundamental screens and a deal news section that offers real-time news and agreements between firms. Thanks to the platform’s wide range of broker connections also provides insights on contracts that can provide you an advantage if you can estimate the impact of the deal on the company’s profile.
Pros
- Comes with a simple, reliable UX.
- Offers a high-quality stock screener
- Access to real-time news from a trusted broker’s network.
- Chart montage function that allows trading without charts.
Cons
- More expensive than some competitors
Conclusion
Trading with the right information can be rewarding! However, you can’t overlook the market’s volatility during individual trades. So now that you have an idea of the best tools in the market use it wisely and make the most of your portfolio. All the best!
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
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