As a stock trader, you know that taking time to research stocks and funds you want to trade gives you an advantage, so do you use tools and subscription services that can help you trade more effectively?
Weâ€™ve rounded up some of our favorite trading tools that can help you maximize your profits, minimize losses and master the stock market.
- Best Stock Research Tools
- Main Types of Stock Research Tools
- What to Look for in a Stock Research Tool
- Research Tools to Drive Growth
- Frequently Asked Questions
Now that you know what youâ€™re looking for, consider testing out one of these top picks for stock research.
8. Benzinga ProÂ
- Who itâ€™s for: All levels
- Price: Starts at $99 per month – Learn More
Benzingaâ€™s own Benzinga Pro is a full suite of easy-to-use, customizable stock research tools.
The core of the platform is the real-time newsfeed, but includes several other tools for stock research. Users can also set up a variety of real-time alerts, including desktop notifications, email, and voice alerts among the tools.
Tools inside Benzinga Pro include:
- Movers (Find top gainers and losers)
- Audio Squawk
- Stock Details
- Why Is It Moving?
- Calendar Suite
- Signal Alerts (including opening gaps, block trades and options alerts)
Whether youâ€™re looking for a screener, top movers or want to chat with other traders, Benzinga Pro brings all the essential tools together in a single platform. Each of the tools are customizable so you can fit it to your trading strategy.
- Who itâ€™s for: All levels
- Price: Free for the basic version, $9.90/month for Ziggma Premium
Beginners and experts alike benefit greatly from Ziggmaâ€™s institutional grade quantitative stock research offering. Ziggmaâ€™s powerful algorithm scores stocks on a scale of 0-100 within a given industry, thereby helping users identify the best stocks quickly.
The Ziggma Stock Scores are the product of over two years of extensive R&D work by a team of seasoned financial analysts and programmers. The underlying methodology captures 32 key performance indicators (KPIs) across the categories valuation, growth, profitability and financial situation. In addition to a stockâ€™s overall score, Ziggma provides sub-scores for the categories growth, valuation, profitability and financial situation. This provides additional value for growth or value investors, for example.
Ziggmaâ€™s methodology is more than validated by excellent backtesting results. An investment portfolio consisting of Ziggmaâ€™s top-scoring stocks yields an outperformance of 8% per annum relative to the S&P 500 for the period 2011 – 2020.
Ziggma makes sophisticated stock research, which used to be the exclusive domain of hire-powered hedge funds and asset managers, available to individual investors.
Linking a bank account to check how Ziggma scores your stocks is free of charge.
3. Finviz Stock Screener
- Who itâ€™s for: All levels
- Price: Free for the basic version, $25 a month for Finviz Elite
By far one of the most intuitive and easiest stock screening tools available on the market, Finviz is an asset for both beginning traders and seasoned professionals alike.
The name Finviz comes from a combination of the words financial and visualization, referring to the siteâ€™s wide array of candlestick charts and easy-to-comprehend visuals that tell you how the market is doing with a single glance.
Finvizâ€™s stock screener is impressive, sorting and scanning stocks with over 60 technical, descriptive, and fundamental characteristics.
Access to Finvizâ€™s real-time market data comes with its $25 per month Elite version â€” but for professional traders, this is money well spent for a gold mine of data.
- Who itâ€™s for: Cost-conscious traders
- Price: Free
Moomoo was designed as a platform for smart trading, while investors can also enjoy the benefits of low fees.
This mobile trading platform built their advanced tools well-organized in one app. Itâ€™s free and easy to use for both beginners and experienced traders. A host of research tools can help you make smart investment decisions. Thereâ€™s also a paper trading feature with real-time data if you want to simulate the investment experience before going all in.
Moomoo allows you to invest when itâ€™s convenient for you. You can initiate trades whether to go or at home, with your customized set-ups synced on different devices. Plus, thereâ€™s no minimum deposit to open an account.
5. Stock Rover
- Who itâ€™s for: Professional investors
- Price: Free to $479.99 bi-annual subscription
Stock Rover is a comprehensive stock analysis and screening tool that gives investors access to high-quality research tools, educational content, expert analysis and more.
Stock Rover goes well beyond standard analysis tools, offering account holders 1 of the most comprehensive sets of screening criteria and research qualifications that weâ€™ve seen. For example, users can filter investment opportunities using over 650 metrics with Premium Plus access.
Stock Rover offers 4 different plan tiers, which can become confusing for new investors who arenâ€™t exactly sure which tools theyâ€™ll use. However, free accounts offer a wide range of functionality that gives users a better feel for Stock Roverâ€™s setup, along with a free trial of Premium Plus functionality. Getting started with a Stock Rover account is also exceptionally easy â€” we were able to open our free account in under 60 seconds.
- Who it’s for: Beginner to advanced traders who want customizable workspaces
- Price: Basic package starts at $59 per month, but you can try it free for 14 days
Looking for a new, affordable, and non-traditional way to enhance your trading? Enter Yewno|Edge.
The AI-driven platform will help you save timewhile uncovering opportunities using altnerative data. Some capabilities allow you to click of a button.
Basic components include access to the following:
- A stock watchlist complete with custom fields
- Today’s top movers
- Stock screener with fundamental and alternative data
- News with options to filter based on keywords
- Company profiles and overviews
- Advanced charting to look at current and historical prices
- Filings for public companies
Premium and pro features allow for users to access a custom strategy builder, key developments for stocks you may be watching and portfolio and concept exposures.
- Who itâ€™s for: All skill levels
- Price: Free to about $40 a month for the most in-depth packages
TradingView is a combination stock screening tool and charting package that offers a more readable charting software than some of the best investing apps on the market.
Featuring a clean and easy-to-master format with over 100 indicators, both new traders and veterans will be able to use TradingView on a day-to-day basis. It even offers cryptocurrency and forex screeners.
Like most other screeners and charting software, TradingView follows a freemium model that offers some tools for free and the most advanced features for a monthly fee.
Novice and moderate traders wonâ€™t need to buy a subscription to get some great use out of TradingViewâ€™s charting and screening software.
8. The Motley Fool Stock Advisor
- Who itâ€™s for: New to intermediate traders
- Price: $99 per year
Many investors donâ€™t have the time to run their own stock research tools and instead focus on expert selections. Motley Foolâ€™s Stock Advisor newsletter is an easy-to-read monthly subscription that provides 2 new monthly stock picks from David and Tom Gardner, the founders of The Motley Fool.
Youâ€™ll also get the 10 best buys now stock list monthly as well as 10 starter stocks for your new portfolio. If that doesnâ€™t sound like much, know that Foolâ€™s marketing team claims that their recommendations regularly beat the S&P 500. This can offer busy investors a chance to get a closer seat in on the action.
Stock Advisor doesnâ€™t just tell you which stocks you should buy, it also tells you why they chose them, information on each selectionâ€™s risk profile and 24/7 monitoring to make sure the investment is still viable.
A great learning tool for both new and experienced investors alike, the Stock Advisor newsletter delivers all of this for less than the price of a monthly gym membership.
9. MS Algo
The Market Scalper Algo (MS Algo) is a tool that currently works only within TradingView to overlay your financial charts with signals to buy and sell. It also provides independent exit signals for each.
The tools can be used on equities, futures, forex and cryptocurrency. It uses proprietary technology and strategies to provide the most accurate signatures. You can setup automated alerts for your phone, email and Webhooks.
It’s easy to setup and affordable. Plans start at $49 per month.
10. MacroRisk Analytics
MacroRisk Analytics provides you a way to measure the economyâ€™s influence on investment prices. Investment Advisers offers tools to measure downside volatility and insulate against world events. You can also accomplish this without needing to choose economic or political scenarios or guessing the direction of the economy â€” almost impossible.
Defend against economic risk, navigate through economic turmoil and harness the economy’s power. MacroRisk Analyticsâ€™ patented system reliably accounts for 95% of price variation in most stocks, mutual funds and ETFs.
Tap into MacroRisk Analytics today.
TraderSync features user-friendly design and a sleek interface to provide you with the tracking and reporting data to take your trading to the next level. It’s loaded with options to improve your journaling and analytics.
You can import your trades with just a few mouse clicks. The TraderSync import feature offers support for a large number of brokerages and to get started, you simply click the â€œAdd Tradeâ€ button in the top right-hand corner of the dashboard. Next, select your broker from the dropdown menu, choose the portfolio that youâ€™d like to import the trades to, and then click the â€œImport Tradesâ€ button to complete the process.
The journal is straightforward. Youâ€™ll see the notes field at the bottom of the trade detail page. You can also select â€œTrades > Journalâ€ from the sidebar menu to view and add journal entries for all of your imported trades from the same page.
Main Types of Stock Research Tools
There are multiple types of stock research tools available. The best ones to use will depend entirely on your trading strategy and personal preferences. Here are some of the most common types of research tools.
- Stock screeners. Stock screeners scan the entire market and give you information on average trading volume, price, chart patterns and more. You can set a predefined set of criteria. For example, you could set for stocks trading under $1 that have an average volume of at least 1 million shares. The screener will show you stocks that fit your specifications.
- Charting software. Charting software shows you the performance of a stock, fund or index over time. Charts may be shown using lines or candlesticks. Many day traders use candlestick charting software to decide when they should buy or sell.
- Stock simulators. Paper trading accounts, dummy accounts, stock simulators â€” whatever youâ€™d like to call them â€” allow you to practice your fundamental analysis or test out trading strategies without wasting actual money. Itâ€™s a good idea to test the waters using a stock simulator first if youâ€™re entering the market for the first time.
- Trading newsletters. Trading newsletters are expertly-crafted email or print messages that tell traders about unusual market movements, new developments and innovations and offer expert opinions on how stocks will move. Newsletters may be sent out as sparsely as every quarter or as frequently as every morning.
There are a few essential features to look for when you decide which stock research tools you want to use.
- Real-time data. If youâ€™re a frequent trader, having the most up-to-date information is crucial. A stockâ€™s value can change at a secondâ€™s notice, so itâ€™s important that you have the most recent information on price, movement, charting pattern and volume. Look for stock research tools that offer real-time market streaming and charting. If youâ€™re looking for a dummy account, look for one that allows you to trade in real time alongside the actual market â€” this will give you the most accurate and authentic experience.
- Customizable tool. Every trader is different. Because trading strategies vary so drastically, itâ€™s possible to interview 10 traders and get 10 completely different answers when asked what makes a good research tool. Look for research tools that allow you to customize your experience and data.
- An easy-to-use format. The best research tool is useless if itâ€™s too hard for you to use. Most major charting and scanning software providers allow you to enjoy a limited test run of their products before you invest in the full set of features. Run a few trades or scans with the demo version first before you buy. If your tool or app doesnâ€™t offer a free trial version, make sure to read plenty of reviews and pay special attention to what the reviewer thought about the platform. See if you can find a free version or sample issue online. Read through it to see if you enjoy the tone and subject of the newsletter.
No matter which research tool and trading strategy you use, remember that there are certain rules of thumb:
- When investing, always be sure to keep your overall asset allocation in mind.
- Donâ€™t be afraid to take calculated risks after youâ€™ve done your research.
- Make sure that you donâ€™t trade more than you can afford to lose.
Frequently Asked Questions
What stock research tools do professional traders use?
Traders use charts, stock screeners and simulators.
What is a popular tool for analyzing stock?
A standard method is the price-earnings ratio. It divides the price of the stock from its earnings per share and compares it with the industry. The lower the ratio, the more attractive the stock is versus its peers.