Charting Platform Reviews
Some of may not yet have a preference for which charting package you use, so we thought we would give you a quick review of some of the most popular charting packages, links to their website and promotional videos. These are other charting platforms that are not reviewed here, because we have never used them.
|Trade Station||Video Tour||Free (1)||Live trading is built in to the platform one of the top rated platforms||Need to be an active trader, a bit difficult to learn, you have touse their brokerage|
|eSignal||Learning about eSignal||$45 to$295 per month||Excellent platform used by many trading professionals||For real time charts, the minimum fee is $145 per month|
|Ninja Trader||Tour of Ninja Trader||$50 per month or $995 to own it||Another excellent platform, highly rated and used by many professionals||High cost to purchase|
|Meta Trader||Trading Platform||Free||Simple to use and setup||Mostly used to trade the Forex markets, lack of some indicators and drawing tools|
|StockCharts.com||Website||Free for Basic$49 per month for Pro||Robust and simple to use web based chart platform, no exchange fees (2)||Web based only, desktop version not available, focus is on stocks|
|Sierra Charts||Website||$40 per month for the best package||Similar to Trade Station||Not as widely used|
|Options Express||Free if you open a demo account (2)||If you are an options trader, this is a great platform||Best used for trading options and stocks. Limited|
|TD Ameritrade||Website||Free if you open a demo account (2)||Amazingly robust platform for all products, originally built as an options platform, now incorporates everything||Live trading only works with their brokerage|
|CQG||Website||$595 per month unless offered by a partner broker||Platform is designed for high speed traders, very fast execution||Very expensive need to be a high speed trader|
- Trade Station platform is only free if you meet their trading criteria
- Most platforms will charge you an exchange fee in addition to the platform cost, Stock Charts, Options Express and TD Ameritrade does not.
- There are many other platforms that we have not reviewed which you might find more suitable for your needs.
Bottom line: If you plan on being a full time futures trader, spend the money and get one of the top 3 in this review, most professional traders use one of these products.
If you plan on only trading the forex markets, MT4 is a great option, but it does not have the same amount of tools as the others. TD Ameritrade is also a great free option.
For options traders, Options Express and TD Ameritrade are considered two of the best in the industry. Trade Station also has an excellent options platform
For stock traders, any of the above platforms will work great, it will just depend on how often you plan on trading.
If you are just getting started trading and just want to demo trade, we recommend one of the free options until you find out what trading products and time frames work best for you.
Thanks for your time!
The Team at Market Masters