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?
We’ve rounded up some of our favorite trading tools that can help you maximize your profits, minimize losses and master the stock market.
Quick Look at the Best Stock Research Tools:
Now that you know what you’re looking for, consider testing out one of these top picks for stock research.
1. Benzinga Pro
Benzinga Pro is one of the best tools for stock research due to its comprehensive real-time financial news and data analytics capabilities. The platform offers a wide range of features designed to meet the needs of traders and investors, including customizable news feeds, detailed stock alerts, and advanced stock screeners. Benzinga Pro’s real-time news updates enable users to stay ahead of market movements, making it easier to identify lucrative trading opportunities as they emerge.
2. Best for Real-Time Market Coverage: CNBC Pro
CNBC Pro allows you to see all the information you need for your investments in one place. For $599.99 per year, you gain access to several stock research tools, including:
- The CNBC Live Stream
- Expert insights in your preferred assets
- Stock picks from known experts
- The CNBC Pro Stock Screener
- Exclusive content from Jim Cramer’s:
- Research and Portfolio
- Daily and Monthly Meetings
- Homestretch
Every asset on the market comes with a massive range of information like:
- Price targets
- Buy/sell ratings
- Live charts
- Assorted figures related to each assets
- Visualizations you can review on your phone, desktop or even TV
3. BigShort
At BigShort, you can sign up at any time and take advantage of the platforms unique mixture of data science and the advanced analytics with colorful charts that are easy to interpret. You can also look into millions of quotes in mere seconds and learn about what’s going on with the most popular exchanges.
Designed with pattern-day traders, scalpers and swing traders, you can start here if you wish to build your portfolio, diversify, track dividend income and much more.
4. MenthorQ
MenthorQ stands out as one of the best tools for stock research due to its advanced integration of Big Data and AI, enabling investors to analyze vast amounts of market information quickly and effectively. The platform offers a user-friendly interface combined with expert insights, making it accessible for both novice and experienced investors. By leveraging sophisticated quantitative models, MenthorQ helps users predict price movements, volatility, and momentum, providing a comprehensive understanding of market dynamics and aiding in informed decision-making.
5. Stock Market Guides
Stock Market Guides provides investors with a unique look at the markets as a whole. Its proprietary scanner doesn’t just scan for popular trading setups based on indicators or chart patterns. It also shows you how that trade setup has performed historically for the stock.
The platform seeks out the best opportunities for you, sends you alerts and allows you to learn more about investing at the same time. Rich with tools like options and stock calculators, there’s something for everyone, irrespective of your level of experience.
Every service costs $49 per month, whether it be:
- Pre-Market Stock Picks (avg. 10 per day)
- Market Hours Stock Picks (avg. 4 per day)
- Pre-Market Option Picks (avg. 10 per day)
- Market Hours Option Picks (avg. 2 per day)
Every alert is backtested to ensure that you get the best information, and you can receive these alerts view email or text.
You can also read about how to invest in these assets or check out the positive size or profit/stop calculators. Study the terms the site has listed for you so that you know the lingo. Plus, you can get specific information for swing trading (If you prefer that strategy.)
6. Simply Wall Street
Simply Wall St transforms stock research with its best in class analysis, empowering over 6 million retail investors to make smarter decisions. Here’s how its research features stand out:
- Visual Stock Insights: Discover fundamental insights about any company worldwide in minutes. This tool breaks down complex financial data into easy-to-understand visual formats, allowing you to quickly grasp a company’s core strengths and weaknesses.
- Valuation Analysis: Integrated directly into the platform, this feature provides a comprehensive valuation of stocks, helping you determine whether a stock is overvalued or undervalued based on current market conditions.
- Intelligent Stock Alerts: Receive updates on significant changes in stock status, ensuring you’re always informed about the most relevant events without being overwhelmed by information.
- Easy-to-Use Stock Screener: Filter through thousands of stocks using the innovative snowflake filter to find ones that match your investment strategy without needing to dive deep into granular metrics.
- Screener Alerts: Automated alerts notify you when new stocks meet your predefined criteria.
In addition to these robust research tools, Simply Wall St also offers extensive portfolio management features, including advanced tracking and strategic implementation tools, to help you optimize your investment strategy.
7. VectorVest
Whether you are buying, selling, or holding, you can use VectorVest platform to complete a full fundamental or technical analysis of any asset. VectorVest users also get:
- Ranking and graphing for over 16,000 stocks
- Safety and timing ratings
- Pre-built systems
- Stock scans
- Data-driven features throughout the site
This platform integrates with TradeStation, IBKR and QuestTrade so you can manage your entire portfolio in one place, on one screen. You get access to information that is based on mathematical and statistical models, and you can visit any time to see the most timely data as the market continuously shifts.
8. Ziggma
Beginners and experts alike benefit greatly from Ziggma’s institutional grade quantitative stock research offering. Ziggma’s powerful algorithm scores stocks on a scale of 0-100 within a given industry, helping users identify the best stocks quickly.
9. InvestorsObserver
InvestorsObserver is a stock and options analysis platform that helps individual investors make more informed trading decisions. IO’s tools are easy to understand, not because they’re overly simplified, but because they’ve done the hard part and boiled down complex analysis into digestible scores.
InvestorsObserver is a one stop shop for all your trading essentials including: intuitive stock analysis, stock screener, personalized portfolio tracker, stock comparison tool, personalized market news, watchlists, daily newsletters, options screener and trade ideas.
10. Stock Rover
Stock Rover is one of the best tools for stock research due to its comprehensive and user-friendly features that cater to both novice and experienced investors. The platform offers advanced screening capabilities, allowing users to filter stocks and ETFs based on a wide array of criteria, making it easier to identify potential investment opportunities. Its Insight Panel provides a deep dive into stock data, offering detailed analysis and visualizations that enhance the research process.
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 — whatever you’d like to call them — allow you to practice your fundamental analysis or test out trading strategies without wasting actual money. It’s a good idea to test the waters using a stock simulator first if you’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.
How to Choose
There are a few essential features to look for when you decide which stock research tools you want to use.
- Real-time data. If you’re a frequent trader, having the most up-to-date information is crucial. A stock’s value can change at a second’s notice, so it’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 you’re looking for a dummy account, look for one that allows you to trade in real time alongside the actual market — this will give you the most accurate and authentic experience.
- Customizable tool. Every trader is different. Because trading strategies vary so drastically, it’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 it’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 doesn’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.
Frequently Asked Questions
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Traders use charts, stock screeners and simulators.
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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.