Last updated on March 4th, 2023 at 02:51 am
Depending on your level of trading expertise, the thought of using AI stock trading software definitely has you piqued. Automated stock trading software is becoming more and more popular, but what many don’t understand is that it is not a money machine; human judgment will always be a part of the stock investing process.
However, you don’t know where to start. Here’s where I come in. I have picked out 6 artificial intelligent stock trading platforms for you to try and hopefully will increase the money in your portfolio. Let’s dig in!
6 Artificial Intelligence Stock Trading Tools For Optimal Trading
Black Box Stocks
The Black Box Stocks app is a computer program that aids in the development of more skillful stock trading decisions. Every day, its algorithm examines hundreds of millions of data points in search of viable investment possibilities, then offers to buy/sell suggestions to human traders based on this information.
One thing that you should know about Black Box Stocks is that it is focused more on long-term investments rather than short-term trends – if you are a conservative investor, this is for you.
One of the most significant advantages of employing black box stocks over similar products on the market today is their accuracy. The program’s track record of outperforming the market by a considerable margin is impressive.
In addition, Black Box Stocks is partnered with:
- TD AmeriTrade
Black Box Stocks Features
- Pre and post-market scanner.
- Real-time quotes.
- Chat room.
- Volatility indicator.
- Focus on long-term investing.
Black Box Stocks Pricing
Black Box Stocks’ pricing starts at $99.97 per month or you can pay $959 yearly.
Black Box Stocks Pros and Cons
- Great accuracy in performance.
- Browser-based platform.
- Excellent customer support and service.
- Not for the short-term investor.
EquBot is an interesting idea. It’s an AI-powered ETF instead of stock software. Equbot works by running algorithms to analyze past data and predict future trends. Equbot will automatically buy and sell stocks based on these predictions, making it ideal for individuals with no trading expertise!
With Explainable and Custom AI-powered Portfolios as a Service (PaaS), indexes, and signals, Quantitative Edge Software’s Quantitative Edge BotAI is working with IBM’s Watson computer to assist asset managers to navigate the exponential growth of data. The AI-powered portfolios as a service (PaaS), indexes, and signals help insurance organizations and other asset owners achieve improved investment results that are easy to understand.
Watson has the ability to adapt learning, senses, and experience in order to learn from structured spreadsheet data as well as unstructured data such as news articles and social media posts. Watson is the first major computer able to learn like humans do by employing learning, sense, and experience.
- The collaboration with Watson IBM.
There is no set pricing with Equbot, you would have to contact them for their services and then they will quote you a price.
Equbot Pros and Cons
- Machine learning optimizes your portfolio to reduce risk and your other financial goals.
- No control over the execution of trades.
- Not a subscription service.
Kavout is an AI stock trading software that allows investors of all skill levels to build portfolios based on data. The program eliminates emotion from the equation and applies data analysis to determine the best possible outcome.
Kavout also has “Kai.” Who or what is Kai? It’s not a person, but rather an artificial intelligence technology that examines millions of data points and stock quotes in order to determine the best value at any given moment. News, blogs, and social media are all considered by this software to provide you with the most precise valuation possible at any one moment. This allows you to see each company and its potential with clarity and immediacy.
- Analysis of the market.
- A watchlist to keep track of stock performance
- Customization of investing style and screen stocks to pick.
- Kai Score — it lists stocks in numerical ranking that is easy to understand.
You will need to contact Kavout for pricing.
Kavout Pros and Cons
- Easily accessible information.
- Focuses on the facts as opposed to emotion.
- Easy to navigate layout.
- Practice without real money.
- There is so much info that it may be overwhelming.
- Remember, this is a simulation.
Tickeron’s AI-powered tools aim to help investors improve their trading methods. That’s because the platform utilizes artificial intelligence to turn massive amounts of stock market data into useful information. Tickeron allows even novice investors to trade with confidence thanks to a wide selection of pre-set windows and AI-driven reports.
Tickeron allows you to access a variety of powerful and helpful tools for portfolio creation, analysis, and more. You may also want to know that it includes a unique third-party marketplace where you as an investor can hire professionals. Free amenities include a stock scanner that you may test before deciding whether or not to pay a membership fee. However, in order to get the most out of its possibilities, you will be required to create an account.
- AI-Powered Search Engine.
- Free stock screener.
- Trade Alerts.
- The Academy — a wealth of content designed to help you get to know the software.
Tickeron’s pricing is based on four levels: Swing Trader, Day Trader, Investor and Expert.
Each of these levels (except for Expert) has sub-levels of pricing: Beginner, Intermediate One and Intermediate Two.
The beginner plans for Swing Trader, Day Trader, and Investor are free. However, things get a little confusing after this.
The starting price for Intermediate One at each level is $90/month (except for Investor, which starts at $100/month), and Intermediate Two starts at $180/month. However, there are additional features that are separately billed, which can get confusing and may take a chunk out of your budget if you choose all of them.
Tickeron Pros and Cons
- An excellent wealth of resources the Academy offers.
- Free beginner plan.
- The AI search engine costs extra.
- The results are not instantaneous.
- If you want to access the platform’s more advanced tools, you would have to upgrade to a premium subscription.
Trade Ideas is a program that employs artificial intelligence to assist traders in making more informed investment choices. Every day, the Trade Ideas algorithm scans through millions of data points in order to identify possible trading situations. Once an opportunity is identified, the AI will create a rule based on it that can then be used by human traders to make their own trades.
One of the best things about using Trade Ideas is that it filters out poor stock selections. The AI system accomplishes this by looking at past performance as well as present market conditions. This makes it less likely for you to lose money on a bad trade, no matter how inexperienced you are about investing or automatic trading.
The biggest feature of Trade Ideas is Holly. No, she’s not a person; she’s the artificial intelligence behind this software.
There are several trading algorithms in Holly. She analyzes the previous day’s market activity at night and utilizes millions of trading possibilities to generate trading recommendations for the next day. From a number of perspectives, Holly examines securities markets. Assets are assigned a score based on their short, long, expensive, cheap, fundamental, social, and technical qualities. Before the markets open, Holly makes predictions based on her extensive backtesting history.
Holly’s probability of success is above 60%. She is able to suggest both long and short trade ideas.
Trade Ideas Features
- Live trading room that is free to use.
- Extensive resources.
- Price alerts.
Trade Ideas Pricing
Trade Ideas is not the cheapest software out there. If you are paying monthly expect to shuck out $118 per month for the Standard package and $228 per month for the Premium. If paying yearly, $84 per month for Standard and $167 per month for Premium.
Trade Ideas Pros and Cons
- Saves time and money.
- Beginner friendly.
- Offers simulated trading.
- No mobile app.
- Robo trading tends to override human decision-making.
The TrendSpider AI software is meant to find profitable trend trading possibilities in the forex market. The Trend Spider algorithm that scans through historical market data and finds trends in the forex market is proprietary. Human traders who can make lucrative trades based on this knowledge are then provided with these possibilities by the system.
Both programs provide comparable services, but there is one key distinction between them. Trend spider focuses on making profits via FX currency pair trading (forex), whereas Trade Ideas is more user-friendly for stock traders.
Trend Spider Features
- Technical analysis.
- Quick at finding accurate trend trading signals.
Trend Spider Pricing
Premium: $39/month paid monthly, $33/month if paid yearly.
Advanced: $79/month paid monthly, $65/month if paid yearly.
Elite: $129/month paid monthly, $97/month if paid yearly.
Trend Spider Pros and Cons
- 7-day free trial.
- Pretty, pretty charts.
- Watch lists.
- Horizontal trendlines unsupported.
AI Stock Trading Tools FAQ
Can you use AI to trade stocks?
Of course! In fact, there are a number of AI trading platforms on the market today.
One key advantage of using AI to trade stocks is that it can help you make more informed and timely decisions. For example, an AI system can analyze huge amounts of data in order to identify patterns and correlations that a human trader would not be able to see. It can also make decisions rapidly based on updated information, whereas a human trader might take longer to process the same information.
That said, there is no substitute for experience when it comes to trading stocks. So it’s important to always use AI in conjunction with your own judgment and analysis.
Can AI be used for day trading?
Yes, artificial intelligence (AI) can be used for day trading. However, AI is not a silver bullet and should be used in conjunction with human analysis.
Additionally, it is important to note that AI models are only as good as the data they are trained on. As such, it is important to use high-quality data when developing AI models for day trading. Finally, it is also important to test the AI model’s performance over a period of time to ensure its accuracy.
Are stock trading bots profitable?
It depends on the bot and the stock market conditions, but generally speaking, yes, stock trading bots can be profitable.
If you have a good trading strategy and you program your bot accordingly, then your bot will be able to trade profitably in most cases. However, there are also a number of factors that can affect whether or not your bot will be successful, including the volatility of the markets and the fees associated with trading.
Can you automate stock trading?
Yes, you can automate stock trading. As this article is all about, there is a plethora of software programs that can trade automatically and make it easier for you.
However, there are also a few things to keep in mind before automated stock trading, such as:
- The potential risks involved. While automated stock trading can help you make money, it can also lose you money if the market crashes or there is another unforeseen event.
- How much money you’re willing to invest. If you’re only investing a small amount of money, automated stock trading may not be worth your time.
- Your understanding of the stock market. Automated stock trading does not mean that you don’t need to understand what’s going on in the market; that ignorance will lead to a world of heartache and possibly empty pockets.
Using AI stock trading software can help you make better and faster choices in your trading, but there are a few things to consider.
The most important question is: should you use an automated trading system?
Other questions to ask:
- Do you know what you’re getting into?
- What is your strategy?
- What are your investing goals?
Automated trading systems, on the other hand, should not be viewed as a substitute for well-planned trading. Technology malfunctions may occur, and as a result, these systems need to be monitored. Server-based platforms might be useful for traders who want to minimize the risk of mechanical breakdowns.
Before you start using automated trading systems, try to gain some trading expertise and understanding. It can make a world of difference in your wallet and your portfolio.
Dani Lehmer is the Founder and Head Honcho of Dani Digs In.
She is a Quality Assurance Analyst and blogger whose natural curiosity allows her
to dig in (pun intended) to help people build their businesses and satiate curiosity
in regard to data science, analysis, and crypto.