Last Updated on February 21, 2024
Stock trading is one of the most lucrative passive income-generating opportunities. However, it requires a great deal of time commitment to carefully monitor the trends in stock prices and make split-second decisions.
Even if you’re pursuing stock trading as a full-time venture, it’s impossible to keep tabs on the stock prices around the clock. You could easily miss out on profitable opportunities while asleep, in the gym, or at the grocery. And that’s where investing in the right stock trading software can make a world of difference.
Stock trading software are programs that utilize artificial intelligence (AI) to automate the buying and selling of stocks. These programs leverage the power of AI and machine learning (ML) to carefully monitor the trends in the stock market. They implement bots that collect and interpret huge amounts of data to determine the ideal time to make a trade. This entire process is technically known as robot trading or algorithm trading.
Stock trading software provide accurate insights into market trends, thereby eliminating computational human errors. They also allow for hands-off trading 24/7, reducing the amount of time you have to spend carrying out the trading tasks manually.
The good news is that there are numerous software to jump-start your stock trading career. Read on as we introduce the ten best AI stock trading bots and algorithms.
1. Trade Ideas
Pricing: Plans start from $167.00/month
Trade Ideas is a stock trading software designed primarily for day traders. The program trawls the intricate stock market to uncover potentially lucrative day trading opportunities and then initiates transactions on your behalf.
Trade Ideas streams stock insights in real time, ensuring you never miss out on any profitable opportunity. These ideas mainly include price alerts that clue you in on potential increases and dips in relevant stock prices.
In addition to exceptional stock scanning, Trade Ideas also scores highly in terms of its signal reporting capabilities. The program has bots that continuously suggest Entry and Exit signals. There are multiple stock trading bots to pick from, each of which performs distinctive roles. For instance, the AI-Holly bot mainly provides statistically-weighted Entry Signals.
Another unique feature of this stock trading software is its Full Quote Windows, which users can activate to get more insights into a stock market’s price. Simply pull the window to access all the datasets relating to your stocks.
The tool also has preconfigured layouts that you can quickly use to kick-start your stock trading, as well as custom layouts which let you personalize your channels.
2. Tickeron
Pricing: Plans start from $39.00/month
Tickeron is one of the most reliable marketplaces for artificial intelligence stock trading bots. The company continuously updates its platform to ensure that traders have access to new trading algorithms each time. There are bots designed exclusively for stock traders and those intended for crypto and forex traders.
One of the main reasons to choose Tickeron as your automated stock trading assistant is its ever-ongoing discounts. As at the time of writing (April 30, 2023), the company was offering an introductory offer of $5/month for unlimited access to its Buy/Sell Daily Signals. That’s a fantastic discount of up to 70%.
Tickeron provides three major features as far as stock trading goes.
First is the AI Robots, a signals-only feature that lets you review comprehensive datasets and closed trades so you can make informed decisions in split seconds. This feature also includes real-time alerts for open trades to give you a significant edge over your competitors.
Next is AI Robots, a virtual accounts function that comes with advanced money management capabilities. This provision allows you to adjust your trading balance accordingly to match your brokerage account, thereby maintaining the right amount of funds required for your stock trading.
Last is the AI Trends Predictions (TPE) function which provides real-time stock trading trends and insights.
Tickeron also maintains a neat, intuitive, and visually appealing interface. The dashboard makes it incredibly easy to compare popular stocks at different times of the day.
3. StockHero
Pricing: Plans start from $4.99/month
StockHero is your ultimate hero if looking for powerful stock trading bots. The tool’s mobile-friendliness means you can access your trading accounts right from your mobile phone, making it a perfect fit for on-the-go traders. Plus, it’s compatible with both Android and iOS devices.
Like Tickeron, StockHero boasts an intuitive user interface. Beginners can quickly get the hang of this software without requiring prior coding skills.
It’s also worth noting that StockHero is cloud-based. Therefore, you don’t need to install the software to avail its stock trading bots. Cloud-based operation also means the program is more accessible, supports collaborations, and provides advanced security.
StockHero has three different pricing plans. The cheapest plan starts from as low as $4.99 per month, and all three come with a reasonable money-back guarantee.
You can enjoy up to 30 active bots, 10 price alerts, and 24/7 customer support, depending on your bundle. The software even lets you decide on your trading frequency and notification channels. Trading frequencies can be down to every five minutes.
4. Algoriz
Pricing: Paid plans start from $29.00/month; a free version also available
Algoriz was developed by Goldman Sachs bankers. That already says a lot about its credibility as an AI stock trading assistant. The platform allows users to trade in both traditional stocks and cryptocurrencies.
One of Algoriz’s noteworthy features is its simulated trading environment. Users can design their own bots and then test the software in this environment to gauge their suitability before using them.
Algoriz is also one of the few stock trading software that come with a free version.
The program’s free plan provides two algorithms, one screener, and a one-year backtest period. However, it’s strictly limited to stock trading and notifications are only sent via email. You’ll need to upgrade to the paid plans (which start from $29 per month) to unlock other advanced features.
It’s also worth noting that Algoriz is especially suitable for experienced traders. While you can navigate the platform without requiring prior coding skills, you’ll need some background knowledge in stock trading to make the most of the software’s bots.
5. UltraAlgo
Pricing: Plans start from $67.00/month
Despite the near-similarity in the names, UltraAlgo and Algoriz are two distinct stock trading platforms with their own standout features.
Clear Buy and Sell signals is one of UltraAlgo’s signature features. The software provides reliable signals on securities listed across all major exchanges, such as NYSE, NASDAQ, TSX, CBOE, and LSE, to mention but a few. These signals include insights into both traditional stock, as well as Futures and ForEx markets.
UltraAlgo provides its users with powerful time-saving, market-tested algorithms. All its algorithms have been back-tested in live trading, guaranteeing their efficiency.
What makes UltraAlgo’s stock market predictions so accurate is that it analyzes the markets using a combination of automated bots and human analysts. The software then reports its findings on hundreds of charts daily, so you can grab a trading opportunity before the next person does.
UltraAlgo also provides diverse trading strategies. The platform integrates with multiple brokers too. For $67/month, you also get trading tutorials, risk allocation tools, and responsive human support. What’s more – the tool is accessible to international traders.
6. TrendSpider
Pricing: Plans start from $29.75/month
You can tell a lot about the credibility of a stock trading bot by looking at its developer. TrendSpider is the brainchild of Dan Ushman, one of the most respected tech entrepreneurs.
The program’s creator appreciates the fact that stock traders differ in their experience levels. As such, he created an application that both beginners and experienced traders can quickly get the hang of. Each sign-up takes you to a 10-minute in-app training session. You can leverage the training session to familiarize yourself with the tool’s core functions before committing fully to it.
TrendSpider provides tons of stock market insights collated from platforms like NASDAQ, NYSE, CME Group, ICE, and CBOE. Its bots are usually set to trade every thirty minutes. However, you can customize your trade limits depending on your needs. Alerts are sent via email and SMS notifications.
While many trading bots focus on active market hours, TrendSpider does you one better by performing market analytics during pre-market and after-hours. This gives you maximum control of the markets by ensuring no investment opportunity goes untapped.
Real-time scanning, integrated backtesting, and price heat maps are other major things to love about TrendSpider.
7. SignalStack
Pricing: Usage-based; with the first 25 signals free
Most stock trading bots charge standard fees for their services. However, SignalStack lets you enjoy the first 25 signals free of charge. Fees are then levied on a usage-based model, with prices starting from as low as $0.59 per signal.
But the unique pricing model isn’t the only thing to love about SignalStack. This software also prides itself on its superfast signal processing speeds. You can convert multiple signals into orders within split seconds to minimize slippage.
SignalStack’s bots are compatible with any trading platform. Besides, the algorithms integrate with dozens of brokers and cryptocurrency exchanges.
You’ll also love SignalStack for its neat and clutterless website. The tool automates orders the same way as traditional hedge funds, giving you an extra advantage of the markets.
With SignalStack, you can place Market and Limit orders automatically by simply adjusting the payload sent to your account. The program keeps logs of all its engagements with third-party brokers and sends you automated alerts when important transactions occur. Coupled with its ease of set-up, dedicated support, and 99.99% uptime, it’s clear to see why SignalStack enjoys the confidence of renowned stock traders worldwide.
8. Build Alpha
Pricing: Charges a one-time fee of $1500
Build Alpha is another stock trading platform on this list that was founded by a renowned trader – David Bergstrom. The tool utilizes a genetic algorithm to create thousands of accurate algorithmic trading strategies within a single click of a button.
There are over 5,000 market signals to choose from. You can use the signals as they are or customize them further to develop your unique trading algorithms. And the best part is that you need ZERO coding skills for that.
Algorithm trading with Build Alpha is a remarkably easy process too. Simply pick a market and test dates from the thousands of Entry signals available, then set Exit combinations before selecting fitness function. Next, run the Build Alpha simulator and then complete the process by analyzing the results.
The app’s reports cover a broad spectrum of dynamics. You can view hundreds of trading strategies, backtest codes, stress-test algorithms, and run-forward stimulations. There’s also the provision for checking correlations, creating a portfolio, or printing tradeable codes.
Build Alpha can generate codes for numerous trading brokers, including MultiCharts, TradeStation, MetaTrader4, MetaTrader5, Python, and NinjaTrader. The software costs a one-time fee of $1,500. Be sure to contact the developer for any discounts and offers.
9. Scanz
Pricing: Plans start from $169.00/month
Scanz is the go-to trading platform for day traders or swing traders looking for complete and hassle-free control of the markets.
As the name suggests, this tool performs deep scans of the stock market in seconds. It then sends an endless stream of alerts to help you make important trading decisions in real-time.
To paint a clearer picture of Scanz’s capabilities, users can quickly scan a combination of 100+ price, volume, fundamental, and technical variables. You can also achieve better automation by choosing from the huge library of scans pre-built by the software’s trading team.
Scanz is also powered by over 100 news sources to ensure you never miss a chance to capitalize on any investment opportunities. The news sources range from financial blogs to press releases and SEC filings.
This software’s bots trawl the industry and then uses ultra-powerful filtering and sorting capabilities to deliver the most dependable alerts. You can receive alerts when a stock makes record highs or lows or when prices and volume ranges break out. There are even notifications on stock liquidity and block trade opportunities.
10. BlackBoxStocks
Pricing: Plans start from $99.97/month
BlackBoxStocks has been around since 2014, during which it has become the preferred stock trading tool for thousands of traders worldwide.
Like most programs on this list, BlackBoxStocks maintains powerful stock screening bots that utilize advanced algorithms and artificial intelligence to trawl the market for potential trade openings. The software’s proprietary algorithms provide real-time trading alerts via multiple channels to keep you in the loop of the market dynamics.
BlackBoxStocks has trading bots for both the stock market and the futures market. The software recently added an Options Flow Scanner that scans the options market extensively to uncover trading opportunities. There’s also an advanced scanner for dark-pool activities.
In addition to its comprehensive stock scanner, BlackBoxStocks maintains a private Twitter group as well as a private discord channel. Both platforms offer real-time access to trade alerts for stocks and options. Besides, users can exchange insightful stock trading ideas to gain control of the market.
Last but not least, it’s reassuring to know that BlackBoxStocks partners with numerous stock broker. These include TradeStation, TastyTrade, and E*Trade.
Summary
Stock trading can be a risky venture for those who wade into the industry headlong.
However, it can also turn out to be a lucrative income opportunity for those who adopt smart strategies, like investing in the above-mentioned trading bots.