TraderSync vs TraderVue 2023
Gone are the days when you had to manually write down your trading activity to monitor your trading performance. Nowadays, online trading journals make it easy for traders to track the success—or failure—of their trading strategies using online platforms.
Like most other financial services, investors have plenty of choices to choose from. We’ll be focusing on two today in this article. Which one will provide the better value?
Find out in this TraderSync vs TraderVue comparison!
|TraderSync is Better for:||TraderVue is Better for:|
|Premium users||Free users|
|AI-powered insights||Budget-minded traders|
|Mobile users||Tracking multiple brokers|
Each service is capable of importing data from a trading platform, and both support the same asset classes. Having the ability to instantly view your day trading performance is certainly useful, but you should consider all of the different capabilities & limitations if you want to become a truly profitable trader.
|Free Features||Manually record & track trades||30 trades/month, basic journaling, basic reporting, sharing|
|Paid Features||Manually record & track trades Pricing reports, volume reports, setup reports, mistake reports, weekly reports, hourly reports, sector reports, market cap reports, evaluator reports, simulator reports, AI-powered insights, automatic target/stop losses tracking, automatic spread detection, “Stock Market Replay”, trading management features||Unlimited trades, enhanced journaling, advanced reporting, risk analysis|
|Annual Subscription Fees||$0-$79.95/month||$0-$49/month|
|Securities Analyzed||Stocks, forex, options, futures||Stocks, options, futures, forex|
|Best Use||Online trading journal||Performance tracking and analysis|
|Modest Money Overall Rating|
Factor 1: Free Features
While you can certainly become a successful trader without using a trade journal, using one could give you the trading edge you need to succeed. True, you won’t be able to create extremely detailed reports using the free versions, but even the free versions of these services can help you improve your trading strategies.
TraderVue Has More Useful Free Features
- TraderVue “Basic” offers basic journaling and reporting
- TraderSync doesn’t offer automatic trade imports for free
- TraderVue “Basic” supports all asset types
This trading journal software can only be used to track your trade history for free if you’re willing to link it to a Twitter account. The linked Twitter account must be allowed to share all of your trades, which is inconvenient.
Active traders will find the free version of TraderSync largely useless. Although you will be able to use the journal functions to keep track of trades, setups, and mistakes, you’ll need to enter each trade manually. For high-volume day trading, this is simply too time-consuming to be practical.
The free (i.e., “Basic”) version of TraderVue only offers basic journaling, basic reporting, and sharing. However, since you’ll be able to automatically import data from supported trading accounts, it instantly has an advantage over the free version of TraderSync.
Free users can only track a portion of their trade history (thirty trades per month), but this should be enough to track trade details, identify negative trade behavior, and make better trading decisions moving forward.
Factor 2: Paid Features
Paying for a service allows you to unlock its true capabilities, but it also puts a dent in your wallet. We recommend taking a look at the features offered, thinking realistically about which ones you’d actually use, and then selecting a plan from there.
TraderSync is a more capable platform overall
- TraderSync offers three paid subscription plans
- TraderVue makes it easy to track trades across multiple asset classes
- TraderSync “Elite” includes mobile app access & AI-insights
Once you’re willing to pay, this online platform has more to offer than just a simple trading journal. Different membership levels will have access to different trading tools, but there are enough to meet the needs of nearly any trading style.
Offering interactive charts, trade simulators, AI-powered trade insights, charting, backtesting, and more, TraderSync is truly a powerful tool for active traders.
Like TraderSync, there’s more to this trading journal software than meets the eye when you’re willing to pay for a subscription. Active traders will be able to track an unlimited number of trades, import data automatically from multiple brokerages, assess their trading journey using advanced reporting features, and more.
The only real drawback that TradeVue has is its lack of real-time data, which isn’t offered (regardless of your plan selection).
Factor 3: Subscription Costs
Ideally, you want to profit when you day trade. Of course, not every individual trade will be a winner, but the idea is that you can use your trading journal to learn from previous trades. However, if you’re overpaying for advanced features that you’re not even using, you could be cutting into your profits without reason!
TraderVue’s top-tier plan is more affordable
- TraderVue “Gold” costs $588 per year
- TraderSync offers three paid plans
- TraderVue “Silver” offers a decent user experience
Although professional traders may be used to paying higher-priced subscriptions, the monthly expense could come as quite a surprise for less-experienced retail investors. The cheapest plan—Pro—only costs $29.95/month, but we don’t think it provides a good value for the price.
Instead, we’d recommend opting for the Premium or the Elite plan, which offer much higher levels of functionality and additional features. However, they do cost a bit more. The “Premium” plan costs $49.95/month; the “Elite” plan costs $79.95/month.
Offering unlimited trade journaling, the “Silver” plan provides an excellent value at only $29/month.
For more experienced traders who also want to have access to risk analysis features, the Gold plan is a great option (at only $49/month).
Learn More About TraderVue
TraderSync vs TraderVue: Summary
Both of these platforms are excellent options for those who want to keep trade notes of their trade history while day trading. Either one can record trades and take trade notes, but—depending on your anticipated usage—we do recommend one over the other.
If you’re primarily concerned with keeping track of successful trades while documenting and learning from trading mistakes, we’d recommend TraderVue. Thanks to the affordable pricing, you can’t go wrong!
On the other hand, if you want to perform in-depth trade analysis while you track your trading activity, we recommend you choose TraderSync. The service may be a bit more pricey, but if you’ll actually take advantage of the AI-powered insights, they could prove extremely useful!
Click here to join TraderSync, or click here to get started with TraderVue!