Having the right tools is essential when you start investing in the stock market, which is why it is important to choose the best stock market software available. Here are the best programs we recommend.
15 Best Stock Market Software Tools
New information and communication technologies have made the financial markets much easier to access: with the best stock market management software, you can buy or sell a share quickly in a single click.
With data now moving this fast, traders need powerful tools to help us analyze this huge amount of data quickly.
The best stock market management software has been developed to help investors and traders make better decisions and analyze the wealth of information available as effectively as possible.
In this article, we present the best stock market management software that will give you an edge in both time and money in your trading.
On related topics, our articles “Brokerage” and “How to Make a Financial Investment” are a good complement to this guide.
What Is Stock Market Management Software?
Trading software is designed to make it easier to make decisions and analyze any asset, such as:
- Stocks
- Forex
- Futures
- Options
Most brokers offer software when you open an account with them, for example:
- Vantage offers MetaTrader
- eToro offers its own platform
- Axi offers the MT4 platform
- Interactive Brokers offers ProRealTime
Trading software can be set up for a desktop computer, a Mac or a mobile device.
You can also buy software other than that offered by your broker, which may be more advanced or offer unique features, such as:
- ZuluTrade
- TradingView
- NinjaTrader
- AlgoTrader
More and more people have become traders or investors recently, thanks to the opportunities available on the world’s stock exchanges. This has created a need for stock market management software to serve traders better.
What Does This Software Offer?
Trading software can provide traders with:
- Information on asset prices
- Special order types
- Fundamental data
- Charts
- Technical analysis indicators
- Statistics
- Chat rooms
- Other exclusive tools or features
Discover the UK stock market with British stocks to broaden your investments.
Types of Software
Stock market management software can be categorized according to the features offered and its characteristics.
Here are some of the most common features:
- Order execution: The software lets you place simple buy or sell orders, or offers more advanced, customizable order types.
- Fundamental analysis: The software gives you access to news, macroeconomic information, statistics and updates on the financial markets or on a given asset.
- Technical analysis: The software shows you interactive price charts for different assets, where you can draw lines or add technical indicators.
- Automated trading: The software lets you automate your trading strategy, or write your own trading algorithm and backtest it on historical data.
Some software is designed specifically for one type of asset, since each asset has different characteristics.
For example, stocks require software that lets you see the company’s financial results, and a screener so you can easily find the stock that meets your requirements.
Forex, on the other hand, focuses more on technical analysis and the economic calendar, meaning the events or figures that can affect a currency’s price.
List of the Best Software
We tested several free and paid programs for more than three months in order to select the best ones for you.
Below is a list of the best stock market management software.
Broker | Best For | Rating |
 | Forex | ★★★★★ 5/5 |
 | Automated Trading | ★★★★☆ 4.5/5 |
 | Beginners | ★★★★☆ 4.5/5 |
 | Technical Analysis | ★★★★★ 5/5 |
 | Futures | ★★★★☆ 4.5/5 |
MetaTrader
MetaTrader 4 is a free platform for trading forex and other financial instruments such as CFDs, futures, indices and commodities.
MetaTrader 4 is available to retail traders through specific brokers, which license the platform individually.
According to its developer, MetaQuotes Software, the platform is available from more than 750 brokers and banks and has millions of traders worldwide.
PROS | CONS |
|
|
ProRealTime
ProRealTime is an online charting software for technical analysis and trading, designed especially for experienced traders, mainly technical analysts and algorithmic traders.
ProRealTime is available with three world-renowned brokers.
PROS | CONS |
|
|
eToro
Founded in 2007, eToro has just over 13 million users in more than 140 countries worldwide.
The broker made a name for itself with its simple, intuitive platform and its social investing feature, an innovative tool that lets users copy other investors’ trades.
eToro is registered in Cyprus and regulated by the Financial Conduct Authority in the United Kingdom.
PROS | CONS |
|
|
TradingView
TradingView is a powerful technical analysis and charting tool, a charting platform and a research hub offering a wide range of tools that traders and investors can use to make market decisions.
TradingView’s most impressive features include its fully functional stock screener, its wide range of screening criteria, support for custom scripts and much more.
PROS | CONS |
|
|
NinjaTrader
NinjaTrader LLC is a software development company best known for the NinjaTrader trading platform, which has won awards for futures trading.
Based in Denver, Colorado, the company’s platform can be used with a limited number of brokers worldwide.
PROS | CONS |
|
|
How to Choose the Best Software in November
To choose the stock market management software that suits you, you first need to understand your needs.
To do this, answer a few questions to better understand your trader profile and the features you will need to invest in the stock market.
- Which assets will you trade? If you invest in stocks, your software requirements will differ from those for forex, for example, so you need to know which assets you want to trade.
- What is your level of trading knowledge? Whether you are a beginner or an expert, your needs will not be the same. If you have not mastered technical analysis, you will not need software offering tools for advanced technical analysts.
- Are you prepared to pay for the software? Most stock market management software is free, but the most powerful programs with the most features have a paid version.
- Do you want to place your orders manually or automatically? Some software lets you place orders manually, while other programs let you place them automatically.
You should also know that some software is exclusive to one broker, while other programs let you use several brokers, and you can also have software for just one feature.
For example, if you don’t like the charts in your broker’s software, you can use other software such as ProRealTime or TradingView to analyze charts.
The Best by Asset Class: Stocks
Stocks require software that helps you find the stock that matches your criteria before investing in it. This is called a screener.
Next, to understand the financial situation of the stock you want to invest in, the software must give you access to:
- Financial results
- The company’s key metrics
- News about the company
- An analysis of the company’s sector
And all of this must be presented quickly and efficiently.
Forex
The favorite asset of beginners and those new to the markets has slightly different software requirements, since you need the economic calendar and the news that will affect a currency pair right in front of you.
You also need indicators and analysis specific to currency trading, such as a pip converter and central bank rate decisions.
Or, for automated trading, software that lets you easily find programs or algorithms specific to forex. The best management software for forex is MetaTrader.
Futures
Scalpers love futures, since a few points can deliver a huge profit. The software features futures traders need include:
- Fast order execution
- Advanced analysis tools
- Customizable order types
Futures traders must make quick decisions to enter and exit positions as fast as possible, so the software must let them find all the necessary information in a single click and on a single screen.
The best software for trading futures is NinjaTrader.
Diversifiez votre patrimoineInvestissez dans l’artDes tableaux originaux, pièces uniques signées par l’artiste. Un actif tangible, loin des écrans et des cotations.Voir les tableaux →CFDs
Most small traders use CFDs because they can use leverage, and the markets available as CFDs are countless: you can trade currencies, indices, stocks, ETFs and even commodities.
However, CFD trading is based on chart analysis, technical indicators and market sentiment. MetaTrader and the eToro platform are the best suited to CFD trading.
Software for Windows or Mac
- Many traders need to consider the version of the stock market management software and whether it works with their desktop or laptop.
- Some software is compatible with both Mac and Windows, while others only work on one system, so read the software’s technical specifications carefully before making your final choice.
- MetaTrader, for example, works on both systems, and its ease of use makes it one of the best programs for beginners, especially for forex.
Mobile Software
- Take the time to check whether the software you want to download includes a free mobile version.
- For example, if you don’t have access to your computer or you are traveling and want to check the assets you follow or the positions you have already taken, the mobile version of your software will save you a lot of time.
- But be careful: some software has a mobile version that is less efficient and powerful than the desktop version, with limited features.
Day Traders
- These are active traders who buy and sell assets throughout the trading session, but close all their positions by the end of the session.
- Stock market management software suitable for day traders must provide accurate, real-time prices for the assets you want to trade.
- Next, historical charts for those assets must be available, with customizable technical indicators for day trading.
- Order execution must be smooth, since day traders close all their positions towards the end of the trading session.
- Day traders generally do not have a specific market or asset, as they can trade any asset. The best stock market management software for day traders is eToro, ProRealTime, MetaTrader and TradingView.
Scalpers
These are traders who take advantage of financial market volatility by opening and closing positions extremely quickly, hoping for a positive result in the end. Leverage plays an important role in this type of trading, so the stock market management software must offer ultra-fast execution, and keyboard shortcuts must be easy to use so scalpers can make decisions and execute them instantly.
Scalpers like to trade futures, highly volatile stocks and major currency pairs. Many scalpers also like to trade automatically, using a trading algorithm to take positions in the markets. The best stock market management software for scalpers is NinjaTrader and ProRealTime. Note that MetaTrader also offers automated forex trading for scalpers.
Swing Traders
Swing traders are investors who take positions lasting several days or a few weeks.
They try to predict a major move in an asset that will make them a lot of money. The software they prefer offers macroeconomic analysis and quality news coverage. Technical analysis is also a factor to consider, and the technical analysis available in the software will be a key help. The best software for swing traders is ProRealTime and TradingView.
Long-Term Traders
These are investors who build a portfolio for the long term, mainly made up of stocks, ETFs and sometimes even currencies. They need software that offers long-term economic analysis, company financial reports, GDP and unemployment figures and the dividend calendar, as well as detailed reports and a consistent history of their portfolios.
The Best for Beginner Traders
Beginner traders need stock market management software with the following features:
- A pleasant interface
- Easy to use
- Intuitive
- Educational resources
- A troubleshooting page for common problems
The main concern of beginner traders is not the quality or number of technical indicators or the advanced tools the software offers.
Rather, it is how the software works: can you find a given asset easily? And if you don’t understand a tool or feature, will you quickly find the answer?
In addition, beginner traders should have all the resources they need to learn trading: PDF materials, online courses, training, videos and webinars.
The Best for Experienced Traders
Experienced traders look for the following in stock market management software:
- High-quality charts
- Fast order execution
- Customizable technical indicators
- Practical information
- Powerful automated trading
- Real-time price data
The more demanding you are, the more likely it is that the software that meets your needs will be paid, so be sure to factor in the cost of the software when making your choice.
How Much Does Software Cost?
The software we have selected all has a free version, but it may be limited in the features and tools it offers.
It depends on your goals and requirements. Sometimes the free version will be enough, but if you want perfection and more possibilities, the paid versions will be better suited to you.
When choosing your broker, take the time to consider the software you want to use and download afterwards.
MetaTrader
MetaTrader is free software offered with certain brokers such as Vantage or Axi. With its simple design, excellent user interface and features such as copy trading and Expert Advisors, it is ideal if you are a beginner.
ProRealTime
ProRealTime is paid software, but it can be free if you open an account with IG or if you only use the end-of-day version.
The prices are:
- €29.96 per month for the full version license
- €79.99 per month for the premium version
TradingView
TradingView has a free version and a paid version:
- Free for the Basic version
- $14.95 per month for the Pro version
- $29.95 per month for the Pro+ version
- $59.95 per month for the Premium version
NinjaTrader
NinjaTrader is the most expensive of the software we selected, but it is really worth it if you are a professional trader.
You have several options for getting the software:
- Free version with basic features
- Software lease:
- Annual subscription: $720
- Six-month subscription: $425
- Quarterly subscription: $225 with automatic renewal
- Lifetime license
- One-time payment of $1,099
- 4 monthly payments of $329
Conclusion
The best stock market software also depends on your goals, your trading strategy and the asset or market you want to trade. Then you need to consider the cost of the software before making your decision and ask yourself whether the free version is enough. Note that the best stock market management software, even when paid, offers a trial period during which you can test each program’s features.
In your opinion, what is the best stock market management software? Share your opinion with us by leaving a comment and we will be happy to reply!