Free stock trading software enables you to analyze stocks, find opportunities, and place trades, all at no cost. Free tools are a great way for traders on a limited budget to save money or for novice traders to try different analysis strategies.
There are hundreds of free and free software tools available to traders, and we've tested many of them to find the best ones. Based on our experience, we believe these four tools are the best free stock trading software you can use today:
- Best trading platform – Thinkor Swim
- Best charting platform – Trading View
- Best stock screener -Finviz
- Best mobile stock trading app – He pees
Best free stock trading software
Let's take a closer look at our top-rated free trading tools to find out what makes them stand out in a crowded field.
Best Trading Platform – ThinkorSwim
ThinkorSwim is one of the most powerful trading platforms available, and it's completely free. The only problem is that you need to open a brokerage account with Charles Schwab, but there is no minimum deposit and no trading requirements.
If you want to trade with Schwab, you can place trades directly from your ThinkorSwim charts. ThinkorSwim has plenty of risk management options, including stop losses, other order cancellations, and more.
ThinkorSwim also has a lot of features that you would normally have to pay for in a trading platform. It's packed with indicators, and you can create your own using the platform's ThinkScript language. You can open multiple chart windows, view price action at the tick level, and set custom alerts based on chart annotations or indicator sets.
It even offers backtesting for custom strategies. We found no other trading software that offers advanced strategy backtesting tools for free.
Key Features:
- Create your own indicators using ThinkScript
- Includes second-level time and sales data
- Trade directly from your charts
- Backtest custom trading strategies
Best Charting Platform – TradingView
TradingView is a free platform that offers some of the best charting tools we've seen. Charts are clean, easy to customize, and packed with indicators and drawing tools. You can create your own indicators and run stock screens in the same window as your charts.
TradingView has some unique features that we really like. You can group indicators, which is great for monitoring rates of change or tracking moving averages of other indicators. TradingView will also automatically recognize candlestick patterns and draw Fibonacci retracements.
Perhaps the best thing about TradingView is the community surrounding this platform. Anyone can submit a custom indicator or strategy to the TradingView forums, and you are free to copy these indicators to your own charts.
The free version of TradingView has some limitations. You can display only one chart per window and apply up to two indicators per chart. You are also limited to one alert on indicators and chart annotations.
Key Features:
- Clean charts with 15 chart types available
- Supports indicators on indicators
- Identify candlestick patterns
- Create your own indicators or add community-contributed indicators
Best Stock Screener – FinViz
FinViz is a free stock screener ideal for swing traders and active investors. The screener offers a wide range of technical and fundamental metrics, allowing you to combine both types of analysis when looking for stocks to trade.
FinViz does not let you create custom indicators and you can only filter by predefined value ranges for most metrics. However, we never found this limitation when running monitors.
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Our favorite thing about FinViz is that there are multiple ways to view the screen results. You can view the spreadsheet or view mini-charts illustrated with moving averages and trend lines. Mini charts are great for quickly discovering technical setups without having to click on every indicator your screen shows.
You can also view the screen results in a bubble chart. These charts are great for visualizing stocks based on metrics relevant to your trading strategy, such as profit percentage or trading volume.
One thing to keep in mind is that FinViz data is delayed by up to five minutes with the free plan, so it's not suitable for fast-paced day trading.
Key Features:
- Offers more than 70 technical and basic screening metrics
- View screen results in a spreadsheet or as charts
- Bubble charts allow you to visualize stocks through technical and fundamental metrics
- Price data is delayed for up to five minutes
Best Mobile Stock Trading App – Webull
Webull is an online brokerage that offers commission-free trading on stocks, options, and select cryptocurrencies. While Webull now has an online trading platform, it started as a mobile-only brokerage – and its premium mobile app reflects its roots.
The Webull app is a great alternative to ThinkorSwim or TradingView for traders on the go. Although these platforms have mobile applications, they try to load too much on the smartphone. Webull finds a better balance, giving you the ability to analyze charts and make trades through a more user-friendly interface.
We especially like that you can switch between the order execution screen with basic line charts and more complex technical charts. Although line charts are not typically ideal for trading, they are easier to look at when you are trying to enter an underlying market or a limit order on your phone.
The Webull app also offers fundamental stock research, including news and price targets from Wall Street analysts. So, you can use the app to research stocks and then dive into more detailed technical analysis when you get back to your computer.
Key Features:
- Commission-free trade on stocks, options and cryptocurrencies
- The mobile interface is clean, easy to use, and doesn't feel crowded
- Includes market news and analyst research
- Advanced technical charts are available on your smartphone
What kind of free trading software do I need?
There are many different types of free software for traders. Examples include:
- Charting tools
- Stock screening devices
- Market news platforms
- Basic search tools
The type of free trading software you need depends on how you trade and what software you already have. For example, if you are a swing trader, you may need an advanced charting tool that allows you to create your own indicators and provide alerts. If you are a news trader, you may be more interested in free market news software.
Are free stock trading tools any good?
While some of the free trading tools are not very good, the majority are worth it. We were very impressed with the features that some stock trading platforms offer for free. For example, backtesting from ThinkorSwim and automatic Fibonacci retracements from TradingView.
Ultimately, whether a free tool is worth it depends on whether it provides the features you need. If so, there's nothing wrong with using a free tool and saving some money. If you need more features in the future, you can upgrade to a paid plan or switch to a paid program.
Frequently Asked Questions: Free stock trading software
Can I trade stocks for free?
Many major stock brokers now offer completely commission-free trading. You can buy and sell stocks without fees, and you can also access advanced charting software at no cost.
Do free trading software provide real-time data?
Some free trading tools provide real-time stock price data. However, some platforms delay data by 5-10 minutes, which can be a problem for day trading. Make sure to check if data is delayed before subscribing to free software.
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Should I use free trading software?
Free trading software can save you money while helping you make better trading decisions. Many novice traders will find all the features they need in free software. You can always upgrade to the paid platform when you find yourself in need of features you can't get for free.
Conclusion: Best Free Stock Trading Software
Free stock trading software can help you find, plan, and execute trades. The best free tools offer advanced features with relatively few limitations, all at no cost. We recommend ThinkorSwim as the best free trading platform overall, TradingView for charts, and FinViz for stock screening. If you like to trade on the go, we recommend using the free Webull trading app.
