The prototype of artificial intelligence was developed back in the 1960s. Then researchers created the first devices that were capable of the simplest calculations. Now we can see how far this brought us as a result. Over the past few years, AI has not only developed significantly but has also become one of the most discussed trends in the digital world. Together with cloud technologies, and the deepening of measures to strengthen cybersecurity, this technology has changed the world. The digital world has accelerated at times when this technology has become an integral part of the Internet processes. Even those engaged in trading could feel that artificial intelligence stock trading software has completely changed the rules of the game in the stock market.
For example, one of the latest trends in AI is ChatGPT. The primary function of the product is to answer questions posed by users. AI analyzes information from various Internet resources and answers the question as if you asked an ordinary person. Interestingly, this chatbot (let’s call it that) learns and improves its skills every day. In the future, the development of this project can radically change the approach to solving many issues and reduce the workload on employees of many companies. But there are other trends, and if you want to create modern software, you should follow them.
Why it Can Be Useful in Trading
First, you need to understand the basics. Trading stocks used to look like a scene from “The Wolf of Wall Street.” Any stock exchange, a bunch of people, phone calls, noise, a bunch of offices within walking distance — and in each of these offices, some people trade, buy, resell, and otherwise interact with stocks.
Now everything looks a bit different. Everything has become much easier with the advent of artificial intelligence trading software. Now is no need to leave the house or call somewhere to buy and sell shares. He can do it online without leaving his home. Moreover, you don’t have to be at the monitor all the time. In addition, the Covid-19 pandemic has contributed to trading software development. In conditions when everyone had to stay home due to quarantine, and the world seemed to have stopped, the stock market showed incredible results. And, as you know, demand creates supply. And the more traders worked at home, the more they needed convenient and practical tools. Thanks to this, a large number of software options have appeared that brokers and traders can use. And AI makes everything simpler, clearer, and easier.
The technology allows you to:
- Speed up all calculations that you need.
Not only instinct is essential in trading. Calculations are the basis of successful trades regularly. Certain regularities and interdependencies in the market affect which stocks will rise in price and which will fall. If earlier these calculations had to be done manually or with minimal use of a computer, now the lion’s share of such operations is taken over by artificial intelligence.
- Increase the array of processed information.
To predict the situation on the market, you need a massive amount of information. High-quality, articulate intelligence trading software can process large data amounts and extract the necessary information. The more extensive the array of data on which you make predictions, the more accurate the results you will get.
- Reduce the burden on traders and brokers.
Thanks to modern software tools, a trader can simply set up an algorithm according to which artificial intelligence will select trades and execute them independently. Thus, the trader becomes much less tied to the workplace. At the very least, you will no longer need to manually search for promising offers through all those available on the market: artificial intelligence can collect offers according to the criteria you need, and you will decide what to do with them.
Modern software can only be considered modern if it has a mobile version. Up-to-date artificial intelligence software for stock trading has an application or at least a mobile version of the site through which traders and brokers can carry out the necessary operations. Thanks to this, all participants can safely travel or do any other business.
Therefore, developing software for traders and brokers, which will contain tools and capabilities of artificial intelligence, is a good idea.
5 Best Stock Trading Programs with AI
Here is a comparison table of 5 stock trading programs with AI:
|EquBot||– AI-driven stock alerts in real time|
– Detailed analytics for every alert
– Community forums and mentorship
|– Limited customization options|
– Doesn’t offer trading or brokerage services
|$99/month or $999/year||Moderate|
|TrendSpider||– Advanced charting and technical analysis tools|
– Customizable scanning for trade signals
– Backtesting module to test strategies
|– Steep learning curve for new traders|
– No fundamental/news analysis features
|$27-$197/month based on plan||Growing|
|Kavout||– Automated AI analytics and trading signals|
– Customizable rules and parameters
– Works with many brokers via API
|– Limited technical indicators|
– No portfolio rebalancing tools
|$9.99-$39.99/month||Low, newer service|
|Black Box Stocks||– AI-driven stock alerts in real time|
– Detailed analytics for every alert
– Community forums and mentorship
|– Focused only on momentum stocks|
– Limited charting and backtesting capabilities
|$99-$399/month||High among momentum traders|
|Trade Ideas||– Powerful AI pattern recognition for trading|
– Customizable scanning and alerts
– Integrates with many brokers
|– No portfolio management or auto-trading|
– Can be complex for new traders
One of the best artificial intelligence trading software works based on fundamental data analysis. The mission is seen by the team as providing access to investment opportunities for everyone. You may be their target audience if you prefer to invest long-term.
The developer is a former trader whose goal is to facilitate the trading process and simplify the search for suitable trades in the market. The technology works by analyzing real-time data, and the trader receives notifications when trades that meet the criteria appear on the market. The main advantage of the offer is the speed with which the software analyzes the data array and gives the desired result.
The developers of this software have implemented machine learning technology. Both individual traders and entire institutions can use this software. The portfolio of tools allows you to rank stocks by actual valuations, view individual charts of historical profitability, and provide many opportunities that will be useful for successful trading transactions.
Black Box Stocks
This software scans data sets and looks for promising areas for investment. The peculiarity of this software is that it is suitable for those who want to focus their attention on long-term investments rather than short-term investments with quick results. In addition, compared to other similar offers on the market, this software solution has proven to be extremely accurate. You set the criteria — and you can be sure that you will like the selected options.
One of the most famous examples in this field. This software enables traders to choose investments more rationally. It can be compared to an experienced trader who can give advice – this is the impression this software gives. In addition, a significant advantage is that this offer helps to filter out bad trades.
Starting to develop your software for brokers and traders, you should consider the offers that already exist on the market. This will help you avoid competitors’ mistakes but at the same time, implement features that other players lack.
Adopting the experience of the best is one of the most effective practices in creating something of your own. Examples of companies that help traders in their work will help you create a worthwhile software product. But for everything to work out in the best possible way, you will definitely need a team that will implement the technical part — and will be engaged in developing a software product for your company. And given the market trends, you need experienced specialists who know how to work with artificial intelligence tools.
If you want to get a high-quality software product, we recommend contacting Fintatech. Our profile is software development for the fintech sector, particularly software for traders and brokers. We have a great tool — Trading Platform Designer — a set of foundations for the components that will make up your software. This tool also allows complete customization to the needs of your business.
For all the details, please get in touch with us. During the consultation, we will discuss possible ways to solve your problem and develop trading software using artificial intelligence tools specifically for your company.