MetaStock Review 2024

Jeremy Biberdorf
By: Jeremy Biberdorf
May 13, 2023
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4.2/5

4.2 rating based on 5 ratings

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In a nutshell: What makes or breaks the success of an active trader is the ability to make smart entries and exits. But what if your buy and sell calls were informed by powerful scanning, screening, backtesting, and forecasting? MetaStock provides a robust technical analysis platform for all types of traders.

MetaStock offers more than 300 charts and indicators for stocks, bonds, ETFs, and forex. It uses Refinitiv and Xenith for premier screening and real-time news delivery.

While MetaStock is undeniably a powerful platform, what sets it apart from other technical analysis services? Keep reading for a comprehensive MetaStock review for answers to this question and more.

MetaStock Subscriptions | starting at $59/moMetaStock D/C | $499MetaStock R/T | $1,395

MetaStock Stock Screener

Pros & Cons
Pros
  • Robust technical analysis platform
  • Excellent backtesting and forecasting
  • Xenith add-on competes with the Bloomberg terminal
  • Solid customer support
Cons
  • May be a steep learning curve for some
  • Outdated app and site design
  • No broker integration

What is MetaStock?

MetaStock is a technical analysis software platform tailored for traders desiring in-depth charting and analytical tools. Focused on enhancing trading decisions, it offers over 300 charts and indicators for a variety of financial instruments such as stocks, bonds, ETFs, and forex.

Through strategic integrations with Refinitiv and Xenith, MetaStock ensures premier screening and real-time news updates for its users. With two distinct versions, MetaStock D/C for end-of-day data and MetaStock R/T for real-time data, the platform addresses the needs of both long-term and intraday traders.

External MetaStock Review & Ratings

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Warrior Trader4.5
Liberated Stock Trader4.4

How Does MetaStock Work?

It’s important to recognize that there are two main versions of MetaStock: MetaStock D/C and MetaStock R/T. D/C stands for “Daily Charts,” and R/T stands for “Real Time.”

MetaStock D/C provides end-of-day data. Any combo of charts can be shown (i.e. daily, weekly, monthly, quarterly, or yearly). Since it provides end-of-day data only, MetaStock D/C is better suited for longer-term traders than day traders.

For access to the data behind MetaStock D/C, you’ll need to purchase Refinitiv DataLink as a separate subscription/add-on. DataLink offers extremely accurate signals, which gives traders an advantage over traders without access to such high-quality data.

MetaStock Real time is the more robust version of MetaStock, since it delivers real-time data. Having intraday information is essential for day and swing traders. For MetaStock R/T, Refinitiv Xenith provides the data. As with DataLink, this is also a separate subscription/add-on.

Xenith is a competitor to Bloomberg terminals, giving traders everything they need to trade intelligently, from global news updates to cross-asset data analysis.

MetaStock Features

MetaStock offers a variety of key features to help traders succeed, including the following:

  • Charts – With MetaStock, you have access to multiple types of charts, six of the most popular charting styles: bars, candlesticks, candlevolume, equivolume, Heikin-Ashi, and line. There are also chart templates such as Bollinger Band. All of course available in multiple time frames.
  • Indicators – Knowing the right entry and exit is crucial for trading success. MetaStock boasts more than 150 technical indicators, which gives you an edge on your entry/exit timing.
  • Expert Advisor – One of the best features of MetaStock is its Expert Advisor feature. This tool offers trading signals, trends, and even commentary on trading conditions. There are a variety of preset trading systems to choose from, plus you can set up your own systems.
  • Scanning and screening – MetaStock’s “Explorer” feature is a powerful tool for screening stocks, with over 250 presets. For example, you could isolate stocks by selecting certain chart patterns, 200-day moving averages, or any other number of technical analysis strategies.
  • Backtesting – You can take a lot of the guesswork out of trading by using MetaStock’s “System Tester.” Backtesting is a great way to simulate trading scenarios and gain a better sense of how your trading plan would have succeeded (or not).

MetaStock Pricing & Plans

MetaStock offers both one-off fee plans as well as subscription services. This flexibility is nice, as many services only offer you one option or the other.

There are subscriptions for MetaStock D/C starting at $59 per month, while the one-off fee for MetaStock Xenith R/T goes as high as $1,395.

There is also a huge number of add-ons that can be purchased and/or subscribed to.

MetaStock User Experience and Support

To fully understand whether MetaStock is right for you, it’s essential to consider the user experience and support provided by the platform. Here, we’ll take a closer look at the usability, community, educational resources, and customer support to help you make an informed decision.

  • Usability: As mentioned earlier, MetaStock’s interface may appear outdated to some users. However, this should not be a dealbreaker if you’re focused on the platform’s powerful features and tools. The software allows users to customize their workspace, so with time, you will likely find a setup that works best for you. It may take some time to familiarize yourself with the platform, but once you’ve mastered it, the benefits can be significant.
  • Community: MetaStock has a strong user community, where you can find support and ideas from fellow traders. The MetaStock Forum is a valuable resource where users discuss their experiences, share tips, and help one another troubleshoot issues. Engaging with this community can be beneficial, especially for those new to the platform or seeking guidance on using specific tools and strategies.
  • Educational Resources: MetaStock provides various educational materials to help users maximize their experience with the software. There are numerous webinars, video tutorials, and articles on the platform that cover different aspects of MetaStock, from getting started to more advanced strategies. This educational content can be invaluable for users looking to improve their trading skills and get the most out of MetaStock’s features.
  • Customer Support: MetaStock is known for its responsive customer support team, which can be reached through email, phone, or live chat. Support is available during regular business hours and is generally helpful in resolving issues and answering questions about the software. The quality of customer support can make a difference in your overall experience, especially when you encounter technical difficulties or need help understanding certain features.

Who is MetaStock Best for?

MetaStock is best suited for traders who:

  • Intermediate to advanced traders: Those with a solid understanding of technical analysis and trading concepts will benefit the most from MetaStock’s advanced features and tools. Beginners may find the platform overwhelming and challenging to navigate.
  • Active traders: Day traders, swing traders, and those who frequently trade will appreciate MetaStock’s extensive charting options, real-time data (for MetaStock R/T users), and powerful scanning and screening capabilities.
  • Systematic traders: MetaStock excels in backtesting and system development, making it an ideal choice for traders who follow systematic trading strategies or want to create their own custom trading systems.
  • Data-driven decision-makers: With access to premium data from Refinitiv and real-time news from Xenith, MetaStock caters to traders who rely on accurate and timely data to make informed trading decisions.
  • Long-term investors: MetaStock D/C, with its end-of-day data and charts, can be useful for long-term investors who want to apply technical analysis to their portfolio management.

Is MetaStock Worth It?

MetaStock offers a powerful system for traders who want a robust technical analysis platform. With potent data sources from Refinitiv and global news coverage from Thomson Reuters, MetaStock delivers a professional-quality product at a fraction of the cost paid by institutional investors.

That said, MetaStock has some drawbacks. Beginner traders will likely find themselves overwhelmed, and there aren’t many tools or resources to assist with learning the software. The other big drawback is that the software has a very outdated look and feel.

MetaStock Review – Final Thoughts

MetaStock is a powerful technical analysis platform with an extensive range of features and tools, making it a valuable resource for traders who are serious about improving their decision-making process. However, its steep learning curve and outdated interface may not appeal to everyone.

When deciding if MetaStock is right for you, consider factors such as your trading experience, preferred trading style, and the time you’re willing to invest in learning the software. If you are an active trader seeking advanced technical analysis capabilities, backtesting, and forecasting tools, MetaStock can be an excellent choice.

On the other hand, if you are a beginner or prefer a more intuitive, user-friendly platform, you may want to explore other options before committing to MetaStock. Ultimately, it’s essential to weigh the pros and cons to determine if MetaStock aligns with your trading needs and goals.

To check out MetaStock for yourself, click here and see how it can benefit your trading.