Top 10 AI Trading Software Review

If you are looking to get an edge in the trading markets, then you may want to consider many professional traders’ secret weapon - AI trading software.  With AI trading software, you can have a programmed software trade everything from stocks to options, forex, and cryptocurrency 24 hours a day. That means that you can literally make money while you sleep. 

Now the question is, what are the best AI trading software programs out there? We have gathered 10 of the most popular free ai trading software programs as well as paid AI trading software programs. Chances are that one of these trading programs may be right for your trading portfolio. 

Best 10 AI Trading Software Review

1. Trade Ideas

Trade Ideas

What is it?

Trade-Ideas is a professional AI trading software system that provides a performance history, win rate, entry point, profit target, and stop-loss for each trade. The system is designed to generate trade opportunities on both the buy-side and the sell-side of stocks. In 2018, the “Holly” AI program returned 32% while major indexes posted a loss.

Features 

  • Buy-side and sell-side trades
  • The performance history of each trade
  • Win rate for each trade
  • Profit target and stop loss provided with each trade 

Pros of Trade Ideas

  • Has a history of outperforming the major indexes
  • Offer both buy-side and sell-side opportunities
  • Provides stop losses to prevent excessive drawdowns
  • Generates an average of 375 trades per month 

Cons of Trade ideas 

  • Options trading is not available
  • Forex trading is not available 
  • Crypto trading is not available 

2. Trend Spider

Trend Spider

What is it?

Are you looking to set up your own custom AI trading system based on your own perimeters? Then Trend Spider is the ideal AI trading software platform for you. With Trend Spider, you can use their robust charts and resources to set up what you want the AI system to trade for you. For instance, you can exclusive trade long side break-outs or short new 52-week lows. This is ideal for more experienced traders.

Features 

  • Customize an AI trading program
  • Over 61,000 trading assets are available
  • Robust charting
  • Technical analysis features

Pros of Trend Spider

  • Trade just about any asset including stocks, options, forex, and cryptocurrencies
  • Easy to use charts
  • Lots of technical analysis options
  • Create your own AI trading program 

Cons of Trend Spider

  • Not for beginners
  • Priced higher than other AI trading platforms 

3). Black Box Stocks 

Blackbox stocks

What is it?

Are you looking to get simple stock and options alerts that can let you know when there is an explosive breakout likely to happen? Black Box Stocks is a simple AI trading software platform that is ideal for new and experienced traders. The system scans 8,000 stocks and over 900,000 options contracts to find you the trades with the best set-up opportunities. If you are looking for an easy-to-follow AI trading software platform, the Black Box Stocks is for you. 

Features 

  • Offers alerts on stocks and options
  • Real-time monitoring or stocks and options contracts
  • Community interaction 
  • Education program 

Pros of Black Box Stocks 

  • Easy to use
  • Offers well-priced plans
  • Active community of traders 

Cons of Black Box Stocks 

  • Does not offer Forex or cryptocurrencies
  • May be too simple for some traders 

4). Tech Trader

Tech Trader

What is it?

If you are looking for a fully autonomous AI trading system with mechanical precision, then Tech Trader is going to be the AI trading software for you. This program trades simple chart set-ups and can go on the long or the short side of a trade. This is a pretty basic AI trading software that just gives you the trades and not much more. Ideal for those looking for a basic AI trading program. 

Features 

  • 100% autonomous trading
  • Long and short side trading
  • 24-hour trade opportunities 
  • Performance grid of current holdings available on home page

Pros of Tech Trader 

  • Simple and straight-forward
  • Offers a number of trading opportunities

Cons of Tech Trader

  • Limited features
  • The platform is unclear on trading strategy 

5). Meta Trader 4

Meta Trader

What is it?

Meta Trader 4 is the largest and the most popular Ai trading software platform available. The company has been in operation for over a decade and is well-respected and well-trusted. Meta Trader 4 offers forex trading singles exclusively and provides robust features from automated trading to trading signals. That means that you can have the AI trade for you or selectively follow trading signals. 

Features 

  • Automated trading
  • Trading signals
  • Trades most forex pairs
  • Community interaction 

Pros of Meta Trader 4

  • The largest and most well-known AI trading software service
  • Offers automated trading and trading signals
  • Well priced 

Cons of Meta Trader 4

  • No stock, options, or cryptocurrency trading 

Also read: Top 10 AI Ecommerce Platforms for Better Sales

6). eOption

Eoption

What is it?

Are you big into options trading? Then eOption is the choice for you. While this is not exclusively an AI trading platform, eOptions allows you to autotrade newsletter trading signals. However, you will not be short of charts and technical analysis information to help you find the right trading opportunities. 

Features 

  • Options and stock trading
  • Autotrade newsletter signals
  • Retirement/IRA investing 

Pros of eOption

  • Ideal for option traders
  • Allows for auto trading of newsletter signals
  • Low trading fees for options

Cons of eOption

  • Does not have its own proprietary AI trading program
  • No cryptocurrency or forex trading 

7). Kavout

Kavout

What is it?

If you are an individual investor or a portfolio that lives quant info in trading opportunities, then Kavout is going to be your ideal choice. The company uses its proprietary K score to tell you the probability of outperformance on a trade. This is ideal if you want to test out your own trading ideas or use the platform’s own AI trading service. 

Features 

  • K score rates trade ideas 
  • Human research
  • AI trade ideas
  • Deep data mining 

Pros of Kavout

  • Excellent research tools
  • Ideal for both individual traders and portfolio managers
  • Excellent data mining for backtesting 

Cons of Kavout

  • Too complex for new traders
  • Higher price 

8). Algoriz

Algoriz

What is it?

For those who want to build, test, and automate their own trading system, Algorriz, gives you a simple, yet robust system to get the job done. This platform is exclusively for stock and cryptocurrency traders. Since Algoriz is designed for those who build their own trading systems, you may need some trading experience if you want to get the most out of this platform. 

Features 

Build, test, and automate trading systems

Stocks and cryptocurrencies

Connects to many major brokers for auto trading 

Pros of Algoriz

  • Backtest your trading ideas
  • Affordable pricing options 

Cons of Algoriz

  • Not ideal for beginners
  • No “hands-off” AI automated trading 

9). Equbot

EquBot

What is it?

One of the largest and most trusted AI trading software platforms. Equbot has almost $2 billion entrusted on its platform from top global institutions. Equbot analyzes millions of news articles and over 50,000 companies and asset classes to find the best opportunities. This AI trading platform is more designed for asset managers than traders. However, an experienced trader may find value in the service. 

Features 

  • Scans news stores
  • Over 50,000 companies and assets analyzed 
  • Design custom strategy
  • Test strategy 

Pros of Equbot

  • One of the most sophisticated AI trading platforms
  • Analyzes news stories 
  • Works with almost any asset class

Cons of Equbot

  • Not for new traders
  • Expensive service 

10). Zignaly

Zignaly

What is it?

Want a pro trader or AI bot to make trades for you? Then Zignaly is the choice for you. This service provides you access to top trading bots where top performers make triple digital annual gains. You can get started with as little as $1 and it is very new trader-friendly. Bets of all, this is a free AI trading software service. You only pay when you make a profit. 

Features 

Autotrade from top traders and bots

Fund secured at the exchange level

Pros of Zignaly

  • Start with as little as $1 
  • Only pay if you profit 
  • Access to pro traders and bot 

Cons of Zignaly

  • Not many trading tools are available 
  • May be too simple for pro traders 

FAQs

If you are unfamiliar with AI stock trading software, then you may have some basic questions on how it works. Here are some answers to some of the most frequently asked questions about AI trading software:

1. How AI is used in stock trading?

AI trading software is used to detect and trade technical brakes in stock. For instance, an AI can trade “golden crosses,” “death cross,” new 52-week highs, new 52-week lows, moving average crosses, breakouts on higher volume, and breakdowns on higher volume. Also, AI trading software can be programmed to trade on news regarding a stock. For instance, an AI trading software can be programmed to purchase a stock if news related to the company has the phrase “insider buying,” or “buy rating” in the news story. 

2. Is AI good for trading?

There are a number of reasons for considering AI trading software. First, AI trading software can open and close trades 24 hours a day. This allows you to step away from your computer while you can still make profitable trades. Also, AI trading software is unemotional. Therefore, it can not be “shaken out” of trades. Finally, AI trading software can practice risk management to prevent excessive drawdowns and losses. 

3. What makes a good AI trading software? 

One of the factors that make for a good AI trading software is the ability to get fast fills on orders to both open and close. Also, a good AI trading software service will practice good risk management and prevent a portfolio from blowing up. Also, a quality AI trading software service will be well backtested to ensure that it will have better performance for future trades. 

4. What is the best AI trading software?  

For experienced traders, Meta Trader 4 is the best AI trading software based on a few factors. First, it is one of the most well-known and well-established AI trading software service providers. Also, the company documents its performance history which is rare in the space. Finally, Meta Trader 4 has a high number of positive reviews on various third-party review websites. 

For new traders, Zignaly is going to be best. That’s because you can choose from a number of different pro traders or AI bots to handle your portfolio. Also, you can start with as little as $1 and you only pay if you make a profit. 

Getting Started with AI Trading Software 

AI trading software can be an excellent way for your money to work 24 hours a day without you monitoring the market. Also, AI trading software can allow you to trade without being caught up in the emotions of the market. Be sure to consider at least several of the top AI trading software listed above. At least one of these AI trading software programs may be the ideal addition to your trading portfolio. 

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