5 Best AI Investing Bots for Effective Stock Trading | INVESTEDMOM
With the recent boom in artificial intelligence and machine learning models, many stock traders have been interested in learning about this technology to make better, well-informed decisions. The premise of artificial intelligence is that it can imitate human action, making it useful for automating processes and reducing the need for human intervention to complete repetitive tasks.
Traditionally, stock trading involved a lot of manual trading. Thanks to AI, however, many investors can now automate stock trading and let stock trading bots carry out a financial analysis to help make well-informed decisions.
It should be noted that many stock trading bots are available on the market, each suited to a person’s specific needs. So, when looking for an AI investing bot for your portfolio, it’s important to ensure you choose the right one for you.
In this article, we’ll look at five of the best stock trading bots to help you create and implement an effective investment strategy and diversify your portfolio.
Top Stock Trading Bots
Trade Ideas - Best Overall Stock Trading Bot
Trade Ideas is leading the AI revolution in the investment world thanks to its state-of-the-art stock trading bots. The technology behind it was developed in 2003 by financial tech entrepreneurs that were previously part of a big venture capitalist-backed startup.
Their 3 AI bots with AI pattern recognition can backtest multiple stocks from US Markets in real-time, allowing it to stay on top of every minute fluctuation. It consists of several algorithms working in the back end to provide detailed insights and data to improve your decision-making and provide the maximum profits from your investments.
Due to its careful watch of the stock market, it’s a perfect investing bot to actively trade stocks for day traders, which is its originally intended audience.
Despite its advanced learning algorithms and impressive collection of real-time data, Trade Ideas is also suitable for people new to investing. Within the platform, you can set up a real-time virtual trading environment where you can learn how to deal in the market and keep track of your profits and losses.
Pricing
Trade Ideas has two pricing plans:
Standard - $118/month for basic features, including an AI virtual assistant and 10 simultaneous charts.
Premium - $228/month for premium features such as risk assistance, chart-based AI trade assistance, and auto trade strategies.
SignalStack - Best for Order Execution
SignalStack is an enterprise-grade platform that automatically converts alerts from their desired trading platforms into executed orders within a brokerage account. It was rolled out to' level the playing field’ and empower retail traders to compete with hedge funds.
Its ability to process incoming signals from any outside platform into orders within your brokerage account makes it an incredibly powerful tool to have in your arsenal.
Pricing
Signal offers flexible pricing packages charging you per signal sent through the platform, but you get the first 25 for free.
Their pricing is broken down like this:
50 for $74.50 ($1.49 per signal)
100 for $119 ($1.19 per signal)
200 for $218 ($1.09 per signal)
400 for $396 ($0.99 per signal)
1,000 for $890 ($0.89 per signal)
2,000 for $1,580 ($0.79 per signal)
5,000 for $3,450 ($0.69 per signal)
10,000 for $5,900 ($0.59 per signal)
Tickeron - Best Stock Trading Bot for Swing Traders
Tickeron is an AI stock trading bot ideal for short to mid-term traders. It's a wholly-owned subsidiary of SAS, a thought leader in innovative AI and data analytics, that works with some of the world’s top companies.
Their service provides traders with complex stock trading bots and algorithms to develop effective AI trading strategies. With over a billion stock and ETF comparisons, the data Tickeron provides is invaluable. Its cutting-edge AI algorithms manage to help stock traders create an extensive game plan by generating trade ideas, running technical analysis on detected patterns using their pattern search engine, and then backtesting the pattern’s previous track record and making suggestions based on their AI trend predictions (TPE) algorithm.
Finally, what’s impressive about this platform is its transparency. Tickeron provides a complete track record of its AI investing bots, including a summary of their performance, the amount of each trade, and other stats such as average consecutive wins, Sharpe ratio, and trade duration.
Pricing
Tickeron categorizes its pricing plans based on the specific needs of the customer. Their four pricing plans are geared toward Swing Traders, Day Traders, Investors, and Experts.
Here’s a breakdown of their pricing for each plan:
Swing Traders
Beginner - Free, and it comes with features like daily signals, AI investment ideas, and reports of the best stock picks
Intermediate One - $90/month
Intermediate Two - $180/month
Day Traders
Same as Swing Traders
Investors
Beginner - Free with the same features as others
Intermediate One - $100/month
Intermediate Two - $210/month
Experts
Expert - $250/month with access to all their features, algorithms, and AI investment/stock trading bots
TrendSpider - Best Automation Tool for AI Investment Strategies
TrendSpider is the tool you need for automating your stock trading analysis. It provides complete stock chart data pattern recognition with automated trendline detection and automatic multi-frame analysis.
This platform was developed by Dan Ushman, who’s not only the founder and CEO of TrendSpider but also of Signal Stack. Thanks to its impressive AI features, TrendSpider intelligently analyzes data and automatically plots trend lines and Fibonacci lines. Their fully automated trading analysis, partnered with powerful backtesting, makes it the ultimate tool for any active investor.
With TrendSpider you can deal in Forex, Crypto, ETFs, and stocks and use its smart machine-learning models to detect trends and real-time data.
Despite offering the ability to code your scripts, one impressive thing about TrendSpider is that it lets you test out your strategies without any coding. You can type in the strategy you want to test, and it’ll automatically code it for you. This enables you to implement your strategies quickly to get a headstart on your trading journey.
Pricing
TrendSpider offers its users 3 pricing packages, each with a 7-day free trial:
Essential - $39/month gets you basic access to most data and tools and is helpful for beginner traders.
Elite - $79/month gives you full access to the platform’s data, tools, and capabilities and is great for traders.
Elite Plus - $179/month which includes all the features of the Elite package but with extended capabilities such as a higher number of bots, alerts, and capacity, and is geared toward professionals.
MetaStock - Best Charting and Backtesting Software
MetaStock is an AI backtesting and charting service that gives you technical and analytical insights into the best stocks, ETFs, indices, and bonds. It’s an award-winning platform due to its standout AI features, intelligent pattern recognition, and excellent forecasting.
The software excels in many areas. You can backtest some of the pre-built systems loaded within their power console, and it’ll spit back a list of every trade to buy or sell within your preferred index. By clicking on any of the stocks, you can get a detailed breakdown, including information on its background, the trade size, duration, and the expected profit or loss.
Other standout features of MetaStock include its add-ons and Expert Advisors. Their Expert Advisors work similarly to robo-advisors. They are essentially AI chatbots that help you perform a better analysis and show you how to utilize the system’s algorithms for maximum profit. Although they’re not perfect, these Expert Advisors do give beginners and intermediate traders a good guideline to know what to look for to start trading.
The add-ons available have been developed by some of the industry's leading experts. They provide you with additional functionality to expand the capabilities of the MetaStock analysis and improve your overall trading methodology. You’ll be able to enhance your trading strategy with features like custom indicators, system tests, advanced signals, and expert advisors.
Pricing
MetaStock has many features and functionalities. Each add-on has a different price, but their main pricing packages are:
MetaStock D/C (Daily Charts) - $69/month or $59/month for some regions. Gives you access to daily charts, which are perfect for traders performing end-of-data analysis.
MetaStock R/T (Real-Time) - $100/month. Gives you access to real-time data, which is essential for most day traders and swing traders.
XENITH - $165/month or lower, depending on the region. Gives you access to MetaStock R/T powered by Refinitiv for fundamental data, insights, and news.
Frequently Asked Questions (FAQs)
Are investing bots legal?
Yes, AI investing and stock trading bots don’t face any kind of financial regulation from authorities and are perfectly legal. High-frequency arbitrage trading bots that are trained specifically to manipulate price quotes can be banned by brokers.
Are stock trading bots useful?
Most professional traders use automated trading bots in some shape or form to effectively buy and sell stocks or other assets. Although no stock trading bot can guarantee you a 100% success rate, they do largely help in analyzing financial documents quickly and exploit the stock market to put the odds in your favor.
Is it possible to automate trading?
Yes, in fact, the majority of the stock market is run by AI algorithms and massive machine learning models by hedge funds and investment banks to arbitrage differences between asset prices.
Conclusion
AI has taken every industry by storm, and the stock market is no stranger to it. With the recent boom in technology, many investors and traders have started to utilize AI stock trading bots to help them make better financial decisions and create a winning strategy.
Professional traders, including hedge funds and investment banks, have been using AI for the longest time. With the introduction of stock trading bot software like Trade Ideas and TrendSignal, retail investors are also able to improve their stock portfolio by automating processes and order executions.
In this article, we discussed the 5 top stock trading bots for investment and looked at some notable features each platform has to offer. Hopefully, this gives you an idea of what to look for in a platform and the options you have to try your hand at AI investing.
AI may be all the rage nowadays, but it can still be difficult to wrap your head around. To learn how to effectively incorporate it into your investing strategy and make full use of this technology, contact Invested Mom today and get on a 1-on-1 coaching call.
Meet the Author:
Inge was born and raised in Cape Town, South Africa, and moved to Canada in 2010 looking for a better life. She always had an entrepreneurial spirit and started her first side hustle when she was 9 years old – selling fudge at school during lunch breaks.
It wasn’t until much later that she realized that saving isn’t enough to get ahead. She was always very interested in real estate, but saving up for a down payment was grueling and slow, and the demands of life kept getting in the way.
She started investing in herself and upgrading her skills while learning how to invest. She quickly became debt free and compounded her money at a staggering rate.
It wasn’t until she became a coach that she realized how significant an impact she can make in people’s lives by sharing her journey, learnings, and processes.
So here she is, advocating for everyone who is invested and wants to build their wealth, especially the mommas!