TrendSpider vs Trade Ideas 2023
|By: Jeremy Biberdorf|
You could have all the textbook knowledge you need as a trader, but you’ll never profit if you can’t find setups in real-time. Smart traders use stock screeners and scanners to identify setups. And today we’d like to compare two of the most popular. We’re comparing Trade Ideas and TrendSpider.
|TrendSpider is Better for:||Trade Ideas is Better for:|
|Active traders||Experienced traders|
|Early adopters||Trading automation|
|Advanced traders||Artificial intelligence-powered trading|
They are both quite popular and well-known for their ability to use artificial intelligence to automate most tasks. Which of them, however, offers the best value for money? It’s high time to find out.
Read on to fully understand which of this online trading software is best for you.
Automated technical analysis and charting software
Charting, stock scanning, and automated trading
|Membership Fee|| |
$33, $65, and $97/month
|Customer Service|| |
Phone, live chat, Twitter, and email
|Modest Money Overall Rating|
If you are new to online trading, get started with Trade Ideas as it offers you the education, practice and support needed to become a successful investor.
TrendSpider vs. Trade Ideas: Determining Factors?
Trade Ideas is a sophisticated stock scanning software that has grown in popularity over the last decade. It has sophisticated scanning tools as well as cutting-edge artificial intelligence. They also recently completed their integration with Interactive Brokers, allowing them to fully automate trading.
TrendSpider, like Trade-Ideas, is a platform designed to capitalize on technological advances. The idea behind this innovation is, of course, to simplify how we analyze stocks. TrendSpider’s charting tools are fantastic because they send out alerts via app notifications, email, and SMS.
The most striking similarity between these two platforms is that they are both fantastic. When it comes to specifics, the following are the key features that are shared across the board. These two screeners may share many characteristics but are not identical twins. They are fierce rivals, so if you look closely enough, you’ll notice a few differences that set them apart. Mentioned below are the determining factors you should know:
Factor 1: Cost
The first criterion for evaluation is cost. Suppose you are a new online investor, in that case, you may not want to commit to subscriptions that cost hundreds of dollars annually unless you are confident that this research will benefit your financial situation.
TrendSpider is cheaper than Trade Ideas
- $97 per month for Master level
- $65 monthly for Elite level
- $33 per month for Premium level
TrendSpider provides traders with three paid subscription levels, which are as follows:
1. The Master level, which costs $97 per month, includes all of the platform’s features.
2. The Elite level ($65 monthly) differs from the Master level regarding how many alerts and scans can be used concurrently.
3. The Premium level ($33 per month) lacks futures and indices data, backtesting capability, multi-factor, and multi-timeframe alerts, some fundamental data feeds, and some support options.
Trade Ideas Costs
The month-to-month subscription provides greater contract flexibility but higher monthly costs. Traders who pay monthly will be charged $167 for the Premium subscription and $84 for the Standard subscription.
Factor 2: Investment Strategy
The second criterion you should consider when choosing between TrendSpider and Trade Ideas is the investment strategy these platforms utilize in online trading.
Trade Ideas Beats TrendSpider in Investment Strategy
- Trade Ideas provides everything you need to make better intraday trades
- It also provides advanced scanner functionality
- It offers a robust educational program, and a moderated live chat room
- It employs cutting-edge technology to provide unparalleled intelligence
TrendSpider is making great strides in developing innovations for traders. The TrendSpider Raindrop Chart is one of the most innovative features they’ve developed recently. In the meantime, TrendSpider supports US stocks, forex, and cryptocurrency exchanges. That’s incredible, and unique features like
- Instant backtesting functionality
- Chart pattern recognition
- Analysis of trendline
- Analysis of Multi Timeframe
- Alphatrends the VWAP could be applied to all charts round out the package.
Here are some features of TrendSpider:
- Beautiful Charts
- Automated Candlestick Pattern Recognition
- Automated Trendline Detection
- Automatic Fibonacci Retracements:
- Automatic Dynamic Price Alerts:
- Multi-Timeframe Analysis
Technical Analysis is automated by the charting platform for traders using TrendSpider’s tools. It accelerates your stock research and analysis by:
- Drawing trendlines
- Supporting trendline analysis
- Recognizing candlestick patterns
- Calculating and drawing automated Fibonacci retracements
- Detecting and highlighting over 40 candlestick formations with mathematical precision
Trade Ideas Strategy
Trade Ideas analyzes all stock trades in real-time using cloud-based server technology and processing power and reports interesting or statistically unusual behavior to their subscribers. Consider Trade Ideas, a card counter in Las Vegas seeking an advantage over the casino while playing blackjack.
Trade Ideas provides everything you need to make better intraday trades, including advanced scanner functionality, a robust educational program, and a moderated live chat room.
Some of its advanced features are
- Real-Time Streaming Alerts
- Channel Bar
- Idea Surfing
- Pre-Built Stock Scans
- The Oddsmaker
- Brokerage Plus
Factor 3: Performance
When it comes to using software for online trading, performance is the ultimate factor to consider before making a choice of which particular trading software to use.
Trade Ideas Outperforms TrendSpider
- Trade Ideas has a better overall track record than TrendSpider
TrendSpider excels in its user-friendly interface. The platform is not only educational but also enjoyable to use.
Getting started with TrendSpider couldn’t be easier. It takes a few minutes to create an account and use the site’s technical analysis tools.
New users can also benefit from a one-on-one consultation with a trading expert. This is a free phone call with a trading professional who will show you how to employ many of the platform’s most well-known tools.
It’s an added impetus to start using the TrendSpider application and something that other similar platforms don’t provide.
The only real disadvantage of the user interface is that you cannot open two TrendSpider tabs simultaneously while logged in. Aside from that, TrendSpider is relatively easy to use, especially if you have prior knowledge of technical analysis.
Trade Ideas Performance
The software employs an AI-powered robo-adviser system consisting of several investment algorithms. It then runs a million trading scenarios overnight to identify a subset of market relationships with the highest probability of predicting outcomes, which it then uses to advise on which triggers, longs, and shorts qualify. Users can then monitor the AI’s performance or participate in the trades at their own risk.
Holly, termed after the Holy Grail, is the AI advisor who serves as the Trade Ideas investment discovery engine. Holly divides strategies into over 35 concepts after each trading day and analyzes technical and volume-driven data, longs, shorts, fundamentals, and more. The advisor’s monthly performance is published on the Trade Ideas website.
Users have access to three different ‘Hollys’:
- Holly (Holly Grail)
- Holly 2.0
- Holly Neo
Trade Ideas also has several extra features and tools to improve the user experience.
TrendSpider vs. Trade Ideas: The Bottom Line
As previously stated, these two scanners are outstanding. TrendSpider is an excellent tool for hands-on traders, in our opinion. That is, if you don’t mind spending most of your time analyzing charts and switching between indicators.
If you’re tired of all that and want a scanner that does all the heavy lifting for you, we recommend Trade Ideas instead. It’s a sophisticated platform that employs cutting-edge technology to provide unparalleled intelligence. To make smarter, and more efficient trading decisions, get started with TrendSpider.
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