Trading software encompasses the tools with which he/she goes to work. Just like a carpenter needs all tools in good working order, a day trader needs high end trading software that is both easy to use and gets the job done.
In this article I will explain what trading software is and pinpoint for day traders outside of North America some of the specific things they need to look out for when choosing the best trading software. I will then look at some of the benefits of the different trading software types offered by TradeZero International.
What Is Trading Software?
Trading software is defined in this article by Investopedia as software that facilitates the trading and analysis of financial products such as stocks.
Trading software is basically the medium through which the broker/dealer allows the day trader to electronically trade the stocks they choose.
Choose A Broker/Dealer That Has Good Customer Service
I personally highly recommend this factor. Even for day traders who are tech savvy, learning how trading software works can still be tricky. It takes time and to have a readily available helping hand from your broker/dealer is always assuring. Users of TradeZero International need have no worries in this regard as it has been my experience that their customer service is exceptional with all of my queries and questions delta with immediately.
Does The Trading Software Allow Fundamental Analysis?
Fundamental analysis involves examining the related economic and financial factors that contribute to a company's intrinsic value. Trading software that offers fundamental analysis will typically offer notification of earnings, offerings and any news related to the company.
Below is an example of the news window on the TradeZero International trading software ZeroPro. In this example I typed in a symbol and used the keyword earnings from the list of options. Immediately a whole list of articles related to that specific symbol show and earnings are at my disposal. This is an incredibly useful and efficient feature.
(ZeroPro News : 09/14/20220
Easy To Use Yet Advanced Charting
As day traders we want to learn how our trading software works as fast as possible. We want user friendly yet technologically advanced. I recommend that indicators such as VWAP and EMA’s are available as well as the option to draw trendlines and add personal notes to saved charts. My own favorite charting is the TradeZero platform: ZeroPro. It is easy to use and allows me to go in-depth in my technical analysis.
(ZeroPro Charts . Technical Analysis 09/14/2022)
Does The Trading Software Have Live Data?
In addition to live charts informing day traders how stocks are moving, extra live data such as Level 2 can give day traders an added edge. Level 2 is a feature of trading software that provides real time access to a stock exchange's order book by showing bid prices and ask prices. This information provides additional market depth and can help day traders to understand market flow and to predict the direction of future momentum.
Direct Access Trading Software
TradeZero has established for certain exchanges and market makers that it routes to, direct access routing which allows it to route client order flow directly to these venues for execution, depending on the time of day, order type and other order and market variables.
Access to trading software with direct access capabilities is, in my opinion, a must for day traders who wish to give themselves every chance of success.
Trading Software Offered By TradeZero International
TradeZero International offer four trading platforms to choose from:
- ZeroMobile is perfect for both beginner traders learning the ropes and those with more experience who are on the move and often away from their desktop.
- ZeroFree is a completely free, browser based trading software that more than does the job for new and intermediate traders.
- ZeroWeb is an incredibly efficient and user-friendly trading software suitable for traders of all levels.
- ZeroPro is a state of the art, dynamic and feature rich trading software. The charting, customizable windows and ability to save multiple layouts will help take your trading to the next level. TradeZero is also currently offering a free trial of the ZeroPro trading software. This is an offer not to be missed.
Trading software that offers both quality and reliability is an essential tool for day traders. Day traders outside of North America have less options to choose from in this regard but luckily can avail of the services of broker/dealer TradeZero International. Among the most important factors I recommend when considering the best trading software is a broker/dealer with good customer service, trading software that allows fundamental analysis, charting that is advanced and user friendly, reliable live data and trading software. TradeZero International has four different types of trading software. My personal recommendation is ZeroPro.
This content (“Content”) is produced by John Maher. The Content represents only the views and opinions of Mr. Maher. Mr. Maher’s trading experiences and accomplishments are unique, and your trading results may vary substantially. TradeZero does not endorse the Content and makes no representations or warranties with respect to the accuracy of the Content or information available through any linked third party sites. The Content has been made available for informational and educational purposes only and should not be considered trading or investment advice or a recommendation as to any security. Trading securities can involve high risk and potential loss of funds. Mr. Maher is compensated by TradeZero for producing the Content and may also receive compensation for customers he introduces to TradeZero.
TradeZero Securities Canada, ULC (“TZC”), a subsidiary of TradeZero Holding Corp., is a Canadian broker dealer, member firm of IIROC and CIPF, that offers self-directed electronic securities trading to its customers. TZC does not provide financial or trading advice and does not make investment recommendations to its customers. This communication does not constitute an offer to sell or a solicitation to buy any security or instrument which it may reference. There is a risk of loss in online trading of securities including equities and options. Trading on margin is for experienced investors only as the amount you may lose can be greater than your initial investment. Likewise, short selling as a securities trading strategy is extremely risky and can lead to potentially unlimited losses. If you have any specific questions, please reach out to TZC directly at firstname.lastname@example.org.
TradeZero - Homepage (October 20th, 2022)
Investopedia - Trading Software by Cory Mitchell (Updated July 19th, 2022)
TradeZero – ZeroMobile (October 20th, 2022)
TradeZero – ZeroFree (October 20th, 2022)
TradeZero - ZeroWeb (October 20th, 2022)
TradeZero – ZeroPro (October 20th, 2022)