With the rise in popularity of ChatGPT and similar AI-powered chatbots, it’s not too surprising that the technology is also being leveraged in the realm of investing and trading. AI stock trading software can assist you in your trading and investing journey and automate some of the most tedious aspects of the trading process.
The best AI stock trading software in 2024
Without further ado, let’s take a closer look at the best AI stock trading software available on the market today.
TrendSpider – Advanced charting capabilities and chart pattern recognition
Trade Ideas – AI-powered stock signals and stock suggestions
Capitalise.ai – Automate trading strategies and alerts with natural language
Tickeron – A platform packed with AI-powered trading tools
Magnifi – Conversational AI that helps users reach their investment goals
1. TrendSpider – Advanced charting capabilities and chart pattern recognition
TrendSpider is a robust tool for examining price charts, offering over a hundred technical indicators and an extensive collection of drawing tools. These features enable users to map out their trading ideas and strategies in detail. Additionally, TrendSpider includes a stock screener that automatically scans through a large number of stocks, highlighting only those that meet the criteria specified by the user.
A standout feature of TrendSpider is its automated analysis of chart patterns. It can automatically calculate Fibonacci sequences, identify trend lines, recognize candlestick patterns, and pinpoint support and resistance levels. This automation spares users from manual tasks, allowing them to concentrate on the actual chart analysis rather than navigating the software.
TrendSpider also lets users set up and run trading bots without needing to code. These bots execute trades based on the start and end conditions defined within the trading strategy.
Another interesting feature of TrendSpider is that it provides a nice variety of alternative data, which you can use to get a different perspective of the market. This includes a news feed from Benzinga Pro, sentiment analysis based on Reddit posts, an unusual options flow tracker, as well as information about stock sales made by company insiders.
2. Trade Ideas – AI-powered stock signals and stock suggestions
Trade Ideas is a platform that caters to traders who are looking to gain deeper insight into the stock market.
While Trade Ideas has the standard suite of features one would expect from a stock monitoring and charting platform, they also leverage artificial intelligence. The platform offers AI trading signals, which consist of a stock symbol, and suggestions for entering and exiting the trade. In addition, Trade Ideas premium clients can access Holly, and AI-powered virtual assistance that offers stock suggestions.
Users can also access a trade simulator, which allows them to try out how their trading and automation strategies perform without risking any capital. The Trade Ideas is integrated with the Interactive Brokers and Tradezero brokerage platforms, which allows users to make trades directly from Trade Ideas.
Trade Ideas has a free membership tier, which provides access to the core tools offered by the platform. For more advanced users, Trade Ideas offers two paid tiers: the Standard plan ($84 per month) and the Premium plan ($167 per month).
3. Capitalise.ai – Automate trading strategies and alerts with natural language
The Capitalise.ai platform makes it possible to automate trading strategies using plain language. Thanks to the power of AI, users can define an entry such as “Buy Apple stock if it crosses above the 200 day SMA and the VIX goes above the previous day close”.
The Capitalise.ai platform offers a ton of utility for traders, especially those who can’t or don’t wish to code their own automated trading tools. Capitalise.ai can be used to set up a dollar cost averaging strategy, trailing stop loss and take profit orders, news-based trades, create smart notifications and much more.
The technology created by Capitalise.ai can be used for free if you have an account at a brokerage or exchange that’s partnered with Capitalise.ai. The platform is partnered with the likes of Interactive Brokers, Fidelity Investments, Binance, AvaTrade and several other brokers and exchanges.
4. Tickeron – A platform packed with AI-powered trading tools
Tickeron is a platform that provides a variety of trading tools powered by AI technology. This includes AI trend predictions, AI price signals as well as AI-powered virtual accounts with various automated money management features.
The Tickeron platform also features an AI stock screener, as well as a tool that identifies patterns on price charts with the help of artificial intelligence.
For users who prefer to take a more passive investing approach instead of swing trading, Tickeron offers AI-powered stock portfolios which focus on stocks in specific sector (for example the semiconductor industry or biotech).
In addition to its AI-powered features, Tickeron also has a community of traders where trading ideas can be shared and discussed.
The platform has a free tier with limited functionality, which includes daily buy and sell signals. However, Tickeron also caters to more advanced traders with a variety of paid plans, starting from $30 per month. Tickeron offers a lot of customization options for its paid plans, as users select exactly which features they want to purchase.
5. Magnifi – Conversational AI that helps users reach their investment goals
Magnifi is an AI-powered tool that’s designed to help users make investment decisions. The company describes its service as a “co-pilot” for their customers’ investment journey. Magnify’s AI is integrated as a conversational tool – users can simply ask it for advice and it will respond with natural language.
The Magnify AI is designed to help users understand the best investing style according to their preferences and goals. After it understands the user’s profile, it suggests a diversified investment portfolio which is the most likely to help the user achieve their investment goals.
Users who have accounts at supported brokers such as Robinhood, Charles Schwab and E*Trade can use Magnifi to automatically analyze their portfolios and provide recommendations – for example, the AI might detect that the user’s portfolio is too concentrated on a particular stock, or that they could save on fees by choosing another ETF or mutual fund.
The bottom line
All in all, AI-powered trading tools are still at a relatively early stage and you’re unlikely to get a significant edge in the market by picking stocks based on an AI’s recommendations. However, there are AI tools that are already highly useful, such as platforms that allow you to automate trading processes simply by describing them with natural language.
If you’re interested to explore more about stock trading, make sure to take a look at our list of the best stocks to buy right now.