The Best Stock Analysis Software

Improve Your Trading or Investing Plan With These Market Tools

Stock analysis software won't make you an investment pro overnight, but it can improve your success in the market, whether you're a long-term investor or a day trader. 

Stock software can help you with:

  • Real-time stock market simulation to help you to learn how to adapt to market fluctuations.
  • Backtesting, so you can test trading strategies using historical stock market data.
  • Designing a stock trading or investing plan.

Having accurate information helps you avoid making decisions made based on emotions. The data provided by stock analysis software helps you screen stocks, make informed choices and execute trades, sometimes even from right inside the software.

The software options below offer an array of features including real-time data, charting, analytics, news, education, and customization tools. Features may vary by service tier, so be sure you check what's included before purchasing. Choose from desktop, online, or app versions of the software, depending on your preference and your hardware.

MetaStock

In MetaStock's popular family of products, you'll find all the tools you need for both technical and fundamental stock market analysis. MetaStock Xenith gives you real-time news and data, fundamentals, commentary, and analytics in a single destination. MetaStock Daily Charts provide tools for after-market analysis, while MetaStock RealTime is designed for real-time traders. DataLink is powerful charting software that pulls end-of-day data from exchanges all over the globe. Additional functions and customization can be added with plug-ins and add-ons, sold separately.

Other important points about MetaStock:

  • It's compatible with Windows only.
  • The software is best for short-term traders who want to do stock market analysis during trading hours or after the market closes.
  • It is vailable as a single purchase or as a monthly or annual subscription.
  • You can try it for 30 days for free.
  • No refunds are offered for subscription downloads.

Worden TC2000

Worden TC2000 offers stock market software for technical analysis for U.S. and Canadian stocks and funds. You'll find charts, watch lists, alerts, instant messaging, news, scanning, and sorting features. Fundamental data coverage is included in addition to a backtesting function on historical data. There are no automated trading tools, and its asset classes are limited to stocks, funds, and ETFs.

Other highlights of TC2000:

  • The software runs on Windows, and apps are available for iOS and Android; Mac users and Android tablet users can access the software via the web platform.
  • It features hundreds of technical and fundamental indicators and a large library of drawing tools.
  • TC2000 is known for its ease of use and speed, with charts that are simple and fast to scan, sort, tweak, and browse.
  • Its notes function lets you jot memos to yourself and flag stocks for further review.

TradeStation

TradeStation offers stock-trading strategy-testing tools with support for unlimited custom trading strategies, backtesting, paper trading, and automatic trade execution based on custom buy and sell rules. Additional features or services can be added with hundreds of idea-generation applications and customizable analytics.

More TradeStation features of note:

  • The software runs on Windows; Mac users can access TradeStation tools through its Web platform. Apps are available for iOS and Android.
  • Years of historical intraday data is available for equities, options, and futures.
  • It is best for high-activity traders meeting a minimum balance to reduce costs.
  • The software is free, but a fee applies for trades and varies by asset class.

eSignal

eSignal is a feature-rich software tool available at multiple price points, each with a different level of complexity. It's essentially a one-stop shop for charting, trading, and generating trade ideas. It incorporates options, forex, futures, and stock trading. It is, however, a complex and relatively expensive program for those just starting out in investment. Depending upon your level of expertise, eSignal may be worth a look; you can try the product for 30 days for free.

Some facts about eSignal:

  • The software runs on Windows.
  • Intraday data is 15 minutes delayed.
  • Advanced charting offers customizable studies.
  • Use the software with stocks, futures, and forex.
  • Receive free online education and customer support.
  • View up to 500 symbols at a time.

Additional features are available in the upgrade tiers, including the ability to backtest, download data, and view extended histories.