Best Day Trading Software Tools For Beginners

Updated June 3, 2024

Navigating through the dynamic world of day trading isn’t an easy task. As a trader, you should use the best day trading software tools to seize opportunities and stay ahead of the competition. These tools are key to your success in financial markets as they offer the functionality and insights necessary for making informed decisions. 

Since modern-day trading operates under a digital economy, manual spotting of market trends, analyzing trades, and reviewing your overall trading performance can be overwhelming. Luckily, in this article, we’ve recommended top-level day trading software tools that will help you complete the above tasks easily. 

What are Day Trading Software Tools?

Day trading software tools are valuable platforms that provide a backup for your trading activities. These tools give you an interface where you can monitor and evaluate your trading activities in a wide range of assets, from ETFs, crypto, forex, stocks, etc. They have various features like scanners and charts to help you carry out fundamental and technical analyses of different trading strategies.

#1

Trade Ideas

Trade Ideas is an advanced stock market analytics and real-time decision support platform that uses artificial intelligence to help traders identify profitable trading opportunities and optimize their trading strategies.

4.5 of 5 stars

#2

TradingView

TradingView is a powerful charting platform and social network for traders and investors, providing real-time data, customizable charts, and an active community for sharing trading ideas and insights.

4.5 of 5 stars

#3

TrendSpider

TrendSpider is a cutting-edge technical analysis platform that utilizes automation and AI to streamline charting, identify trading opportunities, and enhance the accuracy and efficiency of market analysis for traders and investors.

4 of 5 stars

#4

TC2000

TC2000 is a stock analysis and trading platform that offers advanced charting, robust scanning tools, and integrated brokerage services to help traders and investors make informed decisions in the financial markets.

4 of 5 stars

#5

Benzinga

Benzinga is a dynamic financial media outlet that provides actionable market news, analysis, and trading tools to empower traders and investors with timely and relevant information for better decision-making.

4 of 5 stars

#6

Tradersync

TraderSync is an intuitive trading journal platform that helps traders track, analyze, and optimize their trading performance through detailed statistics, insights, and advanced reporting features.

4 of 5 stars

#7

BlackBoxStocks

BlackBoxStocks is a real-time financial analytics platform that uses advanced algorithms and artificial intelligence to provide traders with live alerts, market data, and insights to identify potential trading opportunities.

4 of 5 stars

#8

FinViz

Finviz is a financial visualization platform that offers advanced stock screeners, detailed market maps, and real-time data to help traders and investors seamlessly analyze market trends and identify profitable opportunities.

4 of 5 stars

#8

StocksToTrade

StocksToTrade is an all-in-one trading platform designed to provide traders with comprehensive tools for scanning, charting, and executing trades, along with real-time market data and news to optimize trading strategies.

4 of 5 stars

Top 9 Best Day Trading Software in 2024

This list details some of the best day trading tools on the market today. In summary the top names in our selection are as follows:

1. Trade Ideas


Trade Ideas tops our list of the best day trading tools thanks to its innovative scanner that gives you a detailed analysis of the stock markets. It combines AI with proven stock scanning methods to ensure the timely delivery of efficient market insights.

The tool brings you the best setups and related data to make your day trading or swing trading experience an easy one. This gives you confidence when buying or selling stocks and eventually execute your trades. 

You’ll love their customizable screener that allows you to customize average volume, charts, volume percentage, or stock float information to suit your strategy. What’s more, the results are relayed in an easy-to-understand format in the form of charts.

To top it all up, Trade Ideas is renowned for its revolutionary Holly AI system that’s known for revolutionizing the entire trading game. Holly automates most of the trading analysis and sends out alerts based on your preferred trading criteria.

Overall, Trade Ideas is a powerful day trading tool – one that is beginner-friendly and also widely believed to have a high level of accuracy.

Pros

  • Live Chatroom for sharing ideas
  • Excellent analytical tools
  • Offers training tutorials
  • Customizable scanner
  • AI integration for excellent results

Cons

  • High subscription fees

2. TradingView


TradingView is a platform widely known for low-cost analysis and charts that visualize the latest trends in stock markets. Simply put, TradingView is a social networking and cloud-charting platform that allows you to make better stock trading decisions. 

The platform has great charting features that day traders will love. You can view indicators, time intervals, financial data, alerts, real-time news, watch lists, etc. Moreover, you can view up to 8 charts on a split screen for easy data comparison.

TradingView has powerful screeners that help you get information from thousands of assets. There are three screeners: crypto, forex, and stocks. The screeners have various filtering options, including technical and fundamental analysis. Each screener incorporates the chart view mode for a convenient relay of results.

The active community allows you to share ideas with other day traders and get feedback concerning your trading strategy. Additionally, enhanced hotlists and watchlists are handy for identifying profitable opportunities, while alerts keep you updated on the latest market trends. Finally, TradingView supports integration with several brokers like TradeStation, OANDA, and FOREXcom to allow you to trade comfortably.

Pros

  • Superior charting system
  • Powerful screeners
  • Wide range of assets
  • Efficient alert backtesting capability
  • Allows paper trading

Cons

  • Limited features on the free plan
  • Stiff learning curve for complete beginners

3. TrendSpider


TrendSpider is an all-rounded charting and technical analysis platform for traders with different interests, whether stocks, futures, or crypto. The platform is great for swing and day traders who want to develop winning strategies. 

No matter the day, Trendspider is always watching the market and will alert you on the latest market trends, which is handy for determining entry/exit points. Moreover, you can customize it further to specific time frames, bounce, or breakthrough alerts. This saves you time when exploring different trading strategies. 

TrendSpider has an efficient scanner that scouts the market for information depending on a given criteria. You can work with the already programmed settings or twerk them to suit your trading interests. The scanner incorporates the chart pattern recognition system to ensure you don’t miss anything.

The Trend Spider code-free backtesting software is another great feature for day traders. It allows you to track the historical performance of your strategies and displays the data in an easy-to-understand layout. This makes it a great platform for both experienced and beginner traders.

Pros

  • Mobile app
  • Wide range of assets
  • Excellent education resources
  • Simple interface
  • Automated trend line analysis

Cons

  • The charts load slowly

4. TC2000


TC2000 is an excellent trading platform widely known by traders due to its popular charting feature. Besides, it has robust scanning tools, technical analysis, and price alerts. This is not all, it has a beautiful interface that’s easy to navigate through thus great for both novice and expert traders.

TC2000 values beginner day traders by having a pre-made EasyScan like “Bounce after pullback” and “Gap up with momentum” to act as a starting point. But once you feel that you have learned the financial markets ins and outs, you can advance to making your preferred scans. Additionally, you can use the premarket scanner to get more insights into the performance of stocks before the market opens. 

The charts are user-friendly; you can customize them in any way that works for you. If you feel like you aren’t ripe to jump into live trading yet, you can try the TC2000 paper trading tool. It allows you to trade without real money thus the best way to learn trading. 

With TC2000 watchlists, you can sort through financial markets quickly. You can use the preconfigured watchlists or create your own to help track everything from one place. You can further organize your preferred watchlists into columns for fundamental data, technical indicators, or customized criteria.

Pros

  • Intuitive interface
  • Free paper trading module
  • Customizable charts
  • Efficient scanner
  • Multiple indicators

Cons

  • No backtesting functionality
  • Only supports stocks

5. Benzinga Pro


Benzinga Pro is an incredible platform for investors and traders looking for real-time trade alerts, options signals, financial news, stock research, or insider block trades. In short, Benzinga Pro helps you to improve your trading strategies and make more informed trading decisions.

You no longer need to worry about the latest market trends as Benzinga Pro delivers all these in real-time via its news feed feature. This framework explains why many day traders prefer the platform as they can maximize an opportunity quickly as it arises and stay ahead of others. That’s not all; you can customize the news feed to suit your watchlist so you won’t get unnecessary news.

There are 7 chatrooms where you can learn and share information with other traders. This is an excellent way to ascertain the areas you are doing fantastic and those you need to improve. Don’t worry if you are a beginner feeling left out by experienced traders, thankfully, the Benzinga Pro chatrooms are classified according to experience levels. 

Benzinga Pro has advanced screening tools that help you filter through thousands of stocks to those that match your search criteria. You can further filter the screening tools to scan the market using different financial metrics like earning reports, pricing, or volume spikes.

Pros

  • Offers real-time market data and analysis
  • Live market news feed
  • Interactive trader chat rooms
  • Has Squawk Box that offers audio alerts
  • Highly customizable

Cons

  • Steep learning curve
  • No mobile app

6. Tradersync


Ranked among the leading trading journals out there, TraderSync is known for its ease of use and reliability. With this tool, you can either manually input your trades or automatically sync them from your online brokerage.

Once the data is uploaded, TraderSync analyzes it and provides you with feedback relating to your setups and any potential mistakes you might be making. In short, TraderSync is all about reviewing your trading strategy, identifying your weaknesses, and transforming you into a better trader.

A closer look at this system reveals that a lot of thought was put into every tiny aspect of this journaling tool. The site flows seamlessly and everything is arranged in logical order. This is absolutely important as it reduces the amount of time it takes for complete beginners to learn the ropes.

What’s more, the tool is designed to help you keep track of things like brokerage fees and even commissions. Tracking such data is crucial if you want to have a realistic look at your day trading portfolio.

The regular reports generated by TraderSync are informative and educational which is partly due to the fact that TraderSync is AI-powered and, therefore, able to scour through tons of data in no time.

Overall, TraderSync is a powerful yet reliable journaling tool that day traders should consider adding to their arsenal.

Pros

  • Flexible pricing
  • 7-day free trial
  • Employs AI for data analysis
  • Mobile app available (iOS and Play Store)
  • Good customer support

Cons

  • Elite tier subscription needed for AI reporting
  • Their trade management module has room for improvement

7. BlackBoxStocks


BlackBox Stocks is a financial markets scanner widely renowned for its mobile-friendly algorithmic trading. It offers swing and day traders the best analytical tools to better equip them for the next trading day. However, you should have knowledge of how trading operates to be successful. Don’t worry, BlackBox Stocks has you covered through its vast educational resources.

The platform is made specially to suit the interests of options and stock traders. It has multiple scanners like the premarket scanner, options scanner, automated trading scanner, dark pool scanner, and penny stock scanner which you can use to get technical data. So, this breakdown of scanners helps you narrow your search to certain metrics.

For example, the premarket scanner shows you the biggest movers on the NYSE/NASD in the morning before normal trading hours. The penny stocks scanner gives you detailed data on all hot-moving penny stocks, while the options scanner helps you find options flow that suits your trade setup.

Pros

  • Has various scanners for additional efficiency
  • Gives traders dark pool data
  • Live discord
  • Real-time data analysis
  • Ideal for options/stock trading

Cons

  • Not beginner-friendly

8. FinViz


FinViz is a web-based research, market visualization, and stock screening platform for day traders, swing traders, or long-term investors. Many traders love FinViz because it has both free and paid versions. This makes it a great option for beginner traders interested in charts, news streaming, or thousands of listed stocks. 

Experienced traders benefit more from the premium versions that come with advanced alerts, backtesting, charting, and real-time stock quotes. As a day trader, FinViz helps you base your emphasis on most traded stocks by other day traders depending on insider trading or volume. 

The Finviz stock screener is easy to use and features up to 67 technical and fundamental criteria that make your search process easier. Luckily, you can use the given 30 charting signals, which include chart patterns and insider transactions, to fine-tune your investment strategies. 

Charting is the most adored FinViz feature that offers 5 charts: performance-based, candle, interactive, line, and advanced. Each chart describes additional data like earnings, cash flow, income statements, news, market cap, and outstanding shares. Lastly, the FinViz backtesting features offer you up to 24 years of data, stock chart pattern detection, and over 100 indicators for easy strategy evaluation.

Pros

  • Provides insider trading information
  • Advanced charts
  • Affordable pricing
  • Great visualization of stocks
  • Has a free version

Cons

  • Limited to US exchanges
  • No mobile app

9. StocksToTrade


StocksToTrade is a revolutionary trading platform geared towards helping traders remain successful using its powerful algorithm-enhanced and AI-integrated tools. It provides excellent research, and day traders can access fundamental analysis, financial reports, endless indicators, plus modern charting.

StocksToTrade features a powerful scanner and screener that enables you to select different filters for conducting quick searches through thousands of stocks. These tools have an intuitive interface that doesn’t require coding experience, thus making them beginner-friendly. The built-in templates like top losers, top gainers, stocks rebounding, and stocks pulling back help you get a general look at the market.

Furthermore, the platform has excellent charting options to provide detailed analysis. As a beginner, you can use the standard charting options as a basic ground for building a trading strategy. However, if you are an expert trader, you can customize the charts to unlock enterprise-level capabilities. 

Finally, StocksToTrade integrates with several brokers like Interactive Brokers, Ally Invest, Robinhood, etc. So, you can trade directly without leaving the platform. This is a great time saver, unlike having to logout from the platform first and then log into your broker account to do your live trading.

Pros

  • Excellent AI integration
  • Allows paper trading
  • Algorithmic chart analysis
  • Supports broker integration
  • Customizable settings

Cons

  • Viewing multiple charts on one page isn’t possible

Conclusion

As a day trader, you should face trading like going to the battlefield; thus, the more knowledge you acquire, the better prepared you’ll be. The trading tools you choose will determine your success or failure in trading.

Day trading software tools incorporate various software that are designed to execute trades, analyze financial markets, and manage risks. Using the best day trading software tools like the ones outlined above will help you find and seize potential opportunities to maximize your profits. 

Jerry Garnes

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About the Author

Jerry Garnes is a seasoned writer in personal finance. His informative and insightful pieces have been featured by esteemed platforms like Bankrate, The Street, and Business Insider. In addition to his financial expertise, Jerry is a passionate poet and musician with a deep love for nature.

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