Stock trading can get complicated. You have to look over many stocks, track their technical indicators and determine good times to enter and exit positions. Traders need plenty of resources to make well-informed decisions, and AI stock trading software can help. Some AI stock trading tools make the trades for you based on a set of parameters you provide. Other AI stock trading tools make it easier to conduct technical analysis and access pertinent information sooner. AI stock trading software solutions are on the rise, and this guide covers some of the top platforms to consider.
7 Top AI Stock Trading Software Options
Traders looking to generate more profits with AI may want to consider these top AI stock trading software options.
- Best for Alerts: Signal Stack
- Best for Stock Analysis: MetaStock
- Best for All-in-One Software: TrendSpider
- Best for AI Assistant: Magnifi
- Best for Stock Scanner: Trade Ideas
- Best for Options Trading: BlackBoxStocks
- Best for Auto Trading: Streetbeat
1. Best for Alerts: Signal Stack
Many investors set alerts to see when their favorite stocks hit certain price points. Signal Stack can take action based on your alerts and execute orders automatically. You won’t have to frantically rush into your brokerage account to take advantage of the alert. Signal Stack offers 99.99% uptime and transactions that take place within 0.45 seconds.
Signal Stack is a user-friendly AI companion that does not require coding. You can connect Signal Stack with over 20 brokerage firms. Retail investors get access to enterprise-level order execution through the AI stock trading software.
Pros
- Execute trades automatically upon receiving alerts
- Includes tools that help with technical analysis
- No coding required
- User-friendly platform
- Automated investing
Cons
- Per-signal pricing structure can get expensive
- Market and limit orders only
- Limited brokerage firms
2. Best for Stock Analysis: MetaStock
MetaStock makes it easy for investors to scan the market for opportunities that align with their criteria. The platform lets traders backtest their ideas to see how well their strategies would have performed in the past.
Traders can choose from over 150 technical indicators to compare stock trading opportunities. MetaStock accounts also come with basic and advanced charting features. Traders can monitor economic events, social sentiment, market news and other information from the MetaStock dashboard.
Pros
- Over 150 technical indicators
- Advanced charting
- Access to real-time data
- Backtesting and forecasting tools
- Options chains
- Forex trading included
Cons
- Overwhelming product list
- Flat fees, subscriptions or both
- Does not integrate with brokers
- Not the best for beginners
3. Best for All-in-One Software: TrendSpider
Traders need various resources to make well-informed decisions. However, gathering these resources and accessing multiple dashboards can take up a lot of time. TrendSpider offers a more streamlined approach that can replace all your trading tools with a single software.
TrendSpider’s AI trading bot can conduct trades based on real-time data on over 65,0,00 assets. Traders can receive dedicated 1-on-1 support and training to capitalize on its features. TrendSpider offers various charts and over 200 indicators to help traders make better decisions.
Pros
- Over 200 technical indicators
- Real-time prices and AI trading bot
- Over 65,000 assets on the TrendSpider dashboard
- Various charting tools
Cons
- Does not integrate with brokerages
- Complex interface
- Can feel expensive for traders with lowest plan at $39.99 per month
4. Best for AI Assistant: Magnifi
Manifi makes it easy for investors and traders to find investment opportunities. The platform’s advanced search engine makes it easy to find stocks, exchange-traded funds (ETFs) and other assets that align with your search queries. For example, if you want to search for funds that contain Tesla stock or find growth stocks with high revenue growth, Magnifi has you covered for those queries.
Magnifi lets you link various brokerage accounts, such as Robinhood, E*TRADE and others. If you don’t want to invest your money right away, you can store it in a high-yield savings account with a 5% interest rate. Magnifi is a useful research tool that can help investors and traders.
Pros
- Receive customized stock recommendations based on your financial objectives
- Create watch lists
- Commission-free trading
- Over 15,000 investment opportunities available
Cons
- $13.99 monthly fee
- Stronger focus on long-term investing than day trading
5. Best for Stock Scanner: Trade Ideas
Trade Ideas is an AI-driven stock charting and charting platform that helps investors filter stocks by several categories, such as the most popular stocks, top gainers, and unusual volume activity. Traders can set up customizable alerts and AI-driven trade signals. Advanced charting and data visualization help traders save time and make well-informed decisions.
Trade Ideas is available on every device and is mobile-friendly. Investors can get a deep dive into individual stocks and use backtesting to see how their trading strategies would have performed in the past. Trade Ideas is well known for its charts and also has Picture-in-Picture Charting, which helps traders detect multiple trends simultaneously.
Pros
- Advanced scanning and charting
- Set up alerts
- Backtesting
- Link to your brokerage firm and make trades with one click
Cons
- Expensive with lowest plan at $84 per month
- Not beginner friendly
6. Best for Options Trading: BlackBoxStocks
BlackBoxStocks uses automated scanners to help investors discover opportunities in the market. The platform has an options flow scanner that allows retail traders to follow the smart money and capitalize on trends. Traders can set up alerts to receive notifications when stocks reach certain milestones.
BlackBoxStocks also comes with a trading community. You can interact with other traders and discover new strategies that may increase your returns. The trading community features seasoned experts and the ability to listen to live channels. BlackBoxStocks has a Dark Pool scanner that reveals large blocks of trade that take place outside of the public market.
Pros
- Options flow scanner
- Dark Pool insights
- Market alerts
- Interact with the trading community
Cons
- Not beginner friendly
- $99.97 per month membership fee
7. Best for Auto Trading: Streetbeat
Streetbeat offers auto trading services that allow you to buy into stocks, ETFs, crypto and more. You can use Streetbeat to get all the information you need on any asset and allow the AI technology to do much of the trading for you. Some traders even prefer a mix.
Additionally, the platform makes life simpler for traders with:
- Support for investors of all skill levels
- No trading commissions
- Low minimums (as low as $1)
- Bonus opportunities
- Less than a 1% management fee when using strategies build by Streetbeat
You should be aware that fees could add up on very large accounts, but for the most part, traders can save cash and build a robust portfolio that they don’t need to babysit 24/7 with Streetbeat.
Pros
- The AI technology can help you leave your portfolio be from time to time
- Real-time data helps you make wise decisions and powers the AI with current information
- You can easily track your expenditures through the app and receive personalized advice
Cons
- You may need some time to get up to speed on how the platform works
What is AI Stock Trading Software?
AI stock trading software incorporates machine learning algorithms to match traders with better investment opportunities. These tools make it easier for traders to filter through information to find the best stocks. Some of these tools conduct the buy and sell orders for traders based on pre-established criteria. Stock trading software often comes with advanced charting tools, many technical indicators and key data points.
Criteria for Evaluating AI Stock Trading Software
Traders can choose from many AI stock trading software. These are some of the factors to consider before committing to a software platform.
Accuracy and Reliability of Stock Predictions
Traders should review the stock predictions and see if they are accurate and contain up-to-date information. Some AI stock trading software does not update in real time or may lack accurate information. Comparing the platform’s results with the information you find online can help you verify the accuracy of its stock predictions. Once you verify an AI stock trading software is legitimate, it becomes easier to trust its data.
Portfolio Customization Options
The best AI stock trading software lets you customize your investment strategy based on your financial goals. You can filter out many investment opportunities and act on the trades that work best for you.
Real-Time Data Analysis Capabilities
Traders should receive real-time information instead of asset prices that get updated every 20 minutes. Real-time information allows traders to make quick decisions and capitalize on short-term opportunities right away.
User-Friendly Interface and Customizable Settings
The software should be easy to use across multiple devices. You shouldn’t have to rely on a desktop to have a seamless experience. Many of the top platforms have mobile applications.
Integration With Popular Brokerage Platforms
Integration with popular brokerage platforms can save you time and lets you do everything from one dashboard. Platforms that do not integrate with brokerage firms force you to have another tab open to make trades. It’s better to get a streamlined experience than to feel as if you need multiple windows open to execute trades.
Using Artificial Intelligence to Guide Your Trades
AI stock trading software can make your life easier as a trader. These platforms give you quicker access to information and can execute trades automatically based on your parameters. The industry has been heating up, so traders have more choices than before. Comparing the tools and knowing what you want can help you find the right choice.
Frequently Asked Questions
Can you use AI to trade stocks?
You can use AI to trade stocks. Some platforms have AI tools that automatically make trades for you based on your criteria.
Does AI trading software really work?
AI trading software does work. You still have to come up with a trading strategy and input the parameters, but it can trade for you.
Are AI stocks a good investment?
AI stocks can be good investments, but investors should look at valuations and financials to assess how a stock can perform in the long run.
About Marc Guberti
Marc Guberti is an investing writer passionate about helping people learn more about money management, investing and finance. He has more than 10 years of writing experience focused on finance and digital marketing. His work has been published in U.S. News & World Report, USA Today, InvestorPlace and other publications.