Best Order Flow Trading Software 2023

Jeremy Biberdorf Image
Dec 02, 2023
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In the world of trading, precision and timely decisions can mean the difference between profit and loss. With an abundance of trading platforms available, it's vital to find one that aligns with your trading style and provides real-time insights.

Order flow trading software offers a glimpse into the depth of the market, shedding light on the trading activity of institutional and retail traders alike. In this guide, we will explore some of the best order flow trading software available, delving deep into their benefits and unique offerings.

By the end, you'll be armed with the knowledge to make informed trading decisions and select the software that best meets your needs.

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Quick Breakdown

Top Rated Order Flow Trading Software

  • Best overall and especially for those looking for comprehensive visual tools and advanced order flow training.

  • Best suited for day traders keen on powerful visual representations and volume dots.

  • Perfect for traders wanting a balanced suite of tools for both technical and fundamental analysis.

  • Ideal for retail investors seeking to identify hidden price patterns and leverage flow charts.

  • Excellent for seasoned traders focused on proprietary trading techniques and realistic slippage.

  • A top pick for those interested in advanced tools and integration with Interactive Brokers.

The Best Order Flow Trading Software in 2023

Jigsaw Trading

4.8 stars
Cost Structure Varies by subscription type
Integration Yes
Best For Visual tools
  • Comprehensive visual tools
  • Real-time insights
  • Advanced order flow training
  • Integration with major brokers
  • Designed for active traders
  • Supports multiple markets
  • User-friendly interface
  • Robust community support
Jigsaw Trading is a prominent name among professional traders, lauded for its comprehensive suite of visual tools. It offers real-time insights into market depth, aiding both institutional and retail traders. One of its standout features is the advanced order flow training, ideal for those keen to up their trading game. Integration with major brokers makes trade execution seamless, enhancing the trading experience for active traders.
Founded by seasoned traders, Jigsaw Trading was designed with a simple goal: to empower fellow traders. Their dedication to providing innovative tools has made them a favorite among institutional day traders and retail investors alike.


4.5 stars
Cost Structure $0 - $79/mo
Integration Yes
Best For Volume Dots
  • Detailed visual representations
  • Live volume dots tracking
  • Real money and simulated trading options
  • Comprehensive volume profiles
  • Advanced technical indicator integrations
  • Real-time market depth insights
  • Day trading specializations
  • One-click trading capabilities
For day traders who rely heavily on visual insights, Bookmap is a beacon. The platform offers intricate visual representations, showcasing live volume dots that aid in tracking immediate market activity. One of its unique features includes the option to switch between real money and simulated trading, allowing traders to practice their strategies.

By integrating advanced technical indicators and offering real-time market depth views, Bookmap establishes itself as a premier choice for day traders.

Emerging as a trailblazer in the trading software realm, Bookmap's inception was influenced by a team of trading enthusiasts committed to providing unparalleled visual tools. The company's primary objective has always been to equip traders with the most advanced and intuitive tools for informed decisions.

Market Chameleon

4.5 stars
Cost Structure $0 - $99/mo
Integration No
Best For Analysis
  • Blend of technical and fundamental analysis
  • Algorithmic trading strategy insights
  • Proprietary trading techniques support
  • Active stock market trend tracking
  • Depth of market statistics
  • Balance of trade data access
  • Regular trading activity updates
  • Comprehensive market trends analysis
Market Chameleon stands apart with its balanced approach towards both technical and fundamental analysis. The platform is enriched with tools that offer insights into algorithmic trading strategies and supports proprietary trading techniques.

With a pulse on active stock market trends and in-depth market statistics, traders can stay ahead of the curve. The platform's ability to provide data on the balance of trade further empowers traders to make informed trading decisions.

Founded by a consortium of experienced traders, Market Chameleon aims to provide a holistic trading platform. Recognizing the need for a balanced approach in the market, the company has always strived to offer a blend of technical and fundamental analysis tools to its users.

Cheddar Flow

4.5 stars
Cost Structure Varies by subscription type
Integration No
Best For Flow charts
  • Flow charts for trading insights
  • Identifies hidden price patterns
  • Real-time block trade alert
  • User-friendly interface
  • Robust algorithmic trading strategies
  • Trade platforms integration
  • Active community support
  • Provides a suite of tools
Cheddar Flow stands out as a favorite among retail investors. With a knack for identifying hidden price patterns, Cheddar equips traders with flow charts that offer real-time insights. Its block trade alert system ensures traders never miss out on key trading opportunities.

Coupled with its user-friendly interface and robust algorithmic trading strategies, it's no wonder Cheddar Flow is highly revered in the trading community.

Cheddar Flow, the brainchild of a group of passionate traders, was crafted to bridge the gap between retail investors and institutional day traders. Their mission has always been to provide a powerful tool, making trading insights accessible to all.


4.3 stars
Cost Structure $0 - $99/mo
Integration Yes
Best For Slippage
  • Proprietary trading techniques insights
  • Offers realistic slippage data
  • Designed for seasoned traders
  • Comprehensive trading strategy support
  • Active trade management tools
  • Integrates with multiple trading platforms
  • Realistic fills for trading accuracy
  • Detailed technical and fundamental analysis
Motivewave is a powerhouse, particularly for traders keen on proprietary trading techniques. It provides in-depth insights into realistic slippage, ensuring traders are always prepared. Crafted with seasoned traders in mind, it supports a plethora of trading strategies.

Its capabilities in active trade management, coupled with its integration with multiple platforms, make it a robust choice for serious traders.

The brains behind Motivewave are seasoned market veterans who recognized the gaps in existing trading software. Their commitment to providing a platform that dives deep into trading intricacies has set Motivewave apart in the crowded market.


4.4 stars
Cost Structure Freemium
Integration Yes
Best For Integration
  • Wide integration, including Interactive Brokers
  • Advanced trading tools suite
  • Real-time trading platform insights
  • Designed for professional traders
  • Supports algorithmic trading software
  • Comprehensive trading experience
  • Real-time trading activity feed
  • Platform tailored for experienced traders
Quantower rises above with its extensive integration capabilities, especially its seamless integration with Interactive Brokers. The platform boasts an advanced suite of trading tools, offering real-time insights that cater predominantly to professional traders.

A nod to its versatility is its support for algorithmic trading software, ensuring traders get a rounded trading experience. Its tailored design makes it a top choice among experienced traders.

Quantower's inception was driven by a vision to craft a platform that caters to the nuances of professional trading. Over the years, their relentless pursuit of integrating advanced tools has solidified their position as a leading choice for seasoned traders.

Frequently Asked Questions

What is order flow trading?

Order flow trading revolves around predicting future price movements based on the orders (or trades) that are currently being executed in the market. By analyzing the depth of market data, traders can gain insights into the trading activity of institutional and retail players, aiding them in making informed decisions.

How do these software options benefit day traders?

For day traders, time is of the essence. These software options offer real-time insights, visual tools like volume dots and flow charts, and one-click trading features. They provide a snapshot of current market depth and activity, enabling traders to react promptly to emerging opportunities.

Why is visual representation important in trading software?

Visual tools, like flow charts and volume dots, allow traders to quickly grasp complex market data. By visualizing this information, traders can more easily identify trends, resistance levels, and potential trading opportunities, ultimately aiding in informed trading decisions.

How does "realistic slippage" impact trading decisions?

Realistic slippage refers to the difference between the expected price of a trade and the price at which the trade is executed. By understanding realistic slippage, traders can set more accurate stop-loss and take-profit levels, leading to better trade management and potentially reduced losses.

Why is integration with platforms like Interactive Brokers significant?

Integration with renowned platforms like Interactive Brokers ensures traders have access to a broad market range, advanced trading tools, and robust infrastructure. Such integrations often streamline the trading process, offer better liquidity, and provide a more comprehensive trading experience.

What's the difference between retail and institutional traders in order flow trading?

Retail traders are individual investors who trade with their own money, usually in smaller quantities. Institutional traders represent large entities like banks, hedge funds, or mutual funds, trading in large volumes. In order flow trading, the actions of institutional traders can significantly influence market direction due to the sheer volume of their trades.

How do volume profiles assist traders?

Volume profiles show the amount of trading activity at different price levels over a specific time period. By analyzing these profiles, traders can identify price levels where the market has shown significant interest, helping pinpoint potential support and resistance levels.

Is day trading with order flow software suitable for beginners?

While order flow software offers advanced insights, it can be overwhelming for complete beginners. However, many platforms provide simulated trading options, allowing newcomers to practice and understand the nuances before trading with real money.

Why is the depth of market (DOM) crucial in order flow trading?

Depth of Market (DOM) displays the buy and sell orders in the market at different price levels. It helps traders understand where the demand and supply exist, offering insights into potential price direction and helping traders make informed decisions on entry and exit points.

Can these software tools predict stock market movements?

No software can predict market movements with absolute certainty. However, order flow trading software provides valuable data on current market sentiment, order volumes, and trading activity. By analyzing this information, traders can make more informed decisions, but it's essential to always use risk management strategies.

How do technical and fundamental analysis fit into order flow trading?

While order flow focuses on immediate market activity, technical analysis reviews past market data to predict future price movements and fundamental analysis considers economic indicators. Integrating order flow with these analysis methods can provide a comprehensive view of the market, blending short-term insights with longer-term perspectives.

Can options flow trading be combined with order flow trading?

Absolutely. Both strategies revolve around analyzing the flow of trades to gauge market sentiment. While order flow focuses on the immediate market activity of an asset, options flow looks at the derivative activity related to that asset. Combining the two can provide a comprehensive view of the market sentiment from multiple angles.

How does liquidity impact order flow trading?

Liquidity refers to the ability of an asset to be quickly bought or sold without causing significant price changes. In order flow trading, high liquidity zones often correspond to areas where there is a high volume of buy and sell orders. A sudden increase or decrease in liquidity can signify potential price movements, making it essential for traders to monitor.

What role do "stop runs" play in order flow trading?

A "stop run" occurs when the price moves sharply to trigger a large number of stop-loss orders. Institutional traders, aware of these stop concentrations, might push prices to these levels to get a better fill for their large orders. Order flow traders monitor potential stop run areas to anticipate these swift price movements and adjust their strategies accordingly.

Can order flow trading be applied across all markets?

While order flow trading originated in futures markets, its principles can be applied to other financial markets like forex, stocks, and commodities. However, the effectiveness might vary based on the market's structure, liquidity, and participants. Traders should ensure they understand the nuances of each market before applying order flow techniques.

How important is the concept of "value" in order flow trading?

"Value" in order flow trading refers to a price range where the majority of trading activity has occurred, indicating a consensus of value among traders. Prices outside this value range may be considered overextended or undervalued. Recognizing these value areas helps traders identify potential price reversals and breakout points.
Jeremy Biberdorf

About the Author:

Jeremy Biberdorf is the founder of Modest Money. He’s a father of 2 beautiful girls, a dog owner, a long-time online entrepreneur and an investing enthusiast.