Fortunes are won and lost on the stock market. Learn more about stocks without paying a penny by checking out our list of free stock analysis tools.
To most people, the numbers, graphs, and predictions surrounding the stock market get too complicated way too fast. But if you’re looking to the stock market to make your fortune, you might just be used to the facts and figures that lie at the heart of this investment strategy. So how can you increase that knowledge for better results?
Most investors use stock analysis tools to evaluate prospective purchases. These tools can make the difference between investing in a dud and making enough to live off of for the next several years. At the same time, not many of them are free.
To help you save more money for investing and learn more about stocks to increase your profits, we’ve put together a list of free stock analysis tools. Each of these tools approaches the stock market in several ways, but they all can help you learn more about the stocks you’re already invested in, as well as find out more about potential stocks you want to add to your portfolio.
Are you ready to see how you can analyze the stock market for free? Let’s get started.
12 Free Stock Analysis Tools
If you want to learn more about stocks and don’t want to pay for the privilege, check out these dozen stock analysis tools.
1. Scanz – Our Top Pick
If you’re looking for a stock analysis tool that offers stock-picking services, Scanz could be the right choice for you. There’s practically no limit to the outputs you can choose from for the particular stock you’ve chosen.
In fact, you can combine several technical and fundamental variables to create your own parameters. Or, if you want to pick from the pre-built scans, they’re available to you as well.
Scanz features the Pro Scanner tool to run pre- and post-market sessions in real-time. Plus, you can use the Easy Scanner and News Scanner to find out which stocks are moving and which ones you should avoid.
You can try Scanz for a week for free, but then you’ll have to pay $149 per month for both or between $79-99 for them individually.
Stock Rover is the free investment research platform you can use to learn more about over 8,500 North American stocks and more than 4,000 exchange-traded funds, as well as over 40,000 mutual funds.
Stock Rover also provides portfolio management and brokerage integration.
Features of the Stock Rover free plan include the ability to access multiple charts, data analyst ratings and rankings, and in-depth market news.
There are also multiple paid versions of this platform, including Stock Rover Essential. At $7.99 per month, it’s an affordable way to learn through portfolio and watchlist tracking, up to 5 years of detailed historical data, and access to the Stock Rover Library and guru portfolios.
TC2000 is a stock analysis tool that is free to download with a few paid plans to choose from if you want to upgrade. TC2000 allows you to practice your stock-trading skills for free with its trading simulator.
There are plenty of features to choose from when it comes to TC2000. This free stock analysis tool allows you access to a stock and options screener, charts, a watchlist, built-in option strategies, option profit and loss zones, alerts and reminders, and a custom layout.
You can also choose between eight pre-designed layouts and use the condition wizard to build your own conditions for indicators.
Once you’ve learned more about what TC2000 can do to help you learn about stocks, you might want to upgrade to the Silver, Gold, and Platinum plans. They range in price from $9.99 to $89.98, depending on which one you choose.
Finviz offers a free and premium plan, depending on what you want from your stock analysis tool. While Finviz Elite ups the ante, the basic features free to the public include things like quotes, charts, and screen captures.
The drawback of this particular tool is that you don’t have access to real-time quotes. Even a delay of 5 minutes could mean you’ll lose out on a lucrative opportunity, depending on the circumstances. At the same time, this free stock analysis tool lets you track up to 50 portfolios and 50 tickets for each portfolio, with up to 10 tables and 36 charts.
You’ve probably heard of Robinhood because it offers commission-free trades. However, it also contains one of the most generous margin trading capabilities of any company on our list. Robinhood is rather light on investment tools and research when compared to other platforms, but it does allow you to trade directly from the platform.
If you don’t want to choose your investments, Robinhood is also one of many robo advisors that pick your stocks for you. This service can be particularly useful for self-directed investors, particularly if you’re looking to invest in cryptocurrency.
Research tools available from Seeking Alpha include a portfolio tracker, conference call transcripts, a historical price chart, financial metrics, and bullish and bearish analysis articles from contributors.
You can also sign up for a free newsletter and take advantage of the 14-day free trial.
The free version of Seeking Alpha is somewhat limited, but for $19.99 per month, you can access Premium membership features such as Quant Ratings, stock screen, author ratings, and market commentary. This version is best if you’re using your stock analysis tool on a daily or even weekly basis.
The free services Yahoo Finance offers aren’t the most complex, but they’re perfectly capable of guiding new investors especially. You’ll have access to over 100 technical indicators, real-time quotes, and charts. Plus, you can trade stocks directly from the charts through Yahoo’s partner, Trade.it.
As the name suggests, this free stock analysis tool provides real-time charting of stocks and can even generate custom technical alerts. There are three different paid plans and a free version, each with its own unique features.
The free version allows you to include three technical indicators and three technical overlays per chart. You can also take advantage of the free data plan that uses BATS real-time data for domestic markets and delayed data for international markets.
You’ll need to choose either Basic, Extra, or PRO to gain access to 25 technical indicators and overlays. This will cost you anywhere from $14.95 to $39.95 per month but you can save your charts and annotations.
StockCharts.com is best for both active and passive traders looking for an affordable stock analysis tool. You can access the service on a desktop or smartphone, making it a convenient tool for many inventors of all backgrounds.
Long-term investment strategies thrive with NinjaTrader, a free stock analysis tool you can use to simulate futures and options trading. You will have to open an account to access the platform, but it is free.
NinjaTrader features include the ability to access advanced charting, backtesting, and real-time analysis of several hundred markets. You can also trade directly from the chart if you’d like. NinjaTrader allows social media sharing and uses third-party trading indicators and apps to provide you with unlimited simulated trading. In fact, you can trade with as little as $400 with NinjaTrader.
Free stock analysis tools on this platform also include order flow, market-to-confirm movement, and volumetric bars. You can even take advantage of advanced alerting capabilities to trigger custom notifications as a way to support your investment strategies.
This free stock analysis tool works for both beginner and advanced traders who want both a desktop and mobile version to work with. You’ll have access to real-time data and there’s nothing to download. TradingView offers customized technical analysis, stock screeners, and over 100 pre-built studies you can use to analyze the market in-depth.
With TradingView, you can also track Bitcoin in real-time. Paid plans include Pro, Pro+, and Premium, ranging in price from $14.95 to $59.95 per month.
11. Benzinga Pro
When real-time information matters, check out Benzinga Pro. This platform offers both free and paid versions, with prices ranging from $27 to $347 per month for premium plans.
Free features include NASDAQ quotes that are delayed by 15 minutes, the Benzinga Pro Wire Newsfeed, a stock watchlist, and a detail tool with key stock stats. The Benzinga Pro watchlist lets you keep track of stocks with current positions and potential trades and updates in real-time. Plus, it includes multiple unlimited basic price-related metrics. You can also set up watchlist alerts to receive email notifications.
12. CNN Money
As one of the leading sources of investment information, CNN Money resembles Yahoo Finance’s simple platform. However, you can easily access information regarding stocks exchanged internationally from the homepage. You’ll also have access to updated information such as breaking market news and other news developments.
How Do Stock Analysis Tools Work
Stock analysis tools aim to increase your knowledge and profits by simplifying the wealth of information available on this type of investment. In fact, many free and paid stock research apps provide stock analysis tools as part of their feature list.
The main purpose of a stock analysis tool is to provide you with enough information so that you can identify patterns in prices to buy and sell at opportune moments. For example, you can look at how a stock has performed in the past to estimate what it might do in the future.
New and advanced stock investors alike leverage stock analysis tools to help them. The best analysis tools help you react faster to market changes by evaluating the fundamentals of a company. Common characteristics within this evaluation include long-term revenue and profit growth, market share, and future prospects.
Though taking advantage of free stock analysis tools can make it easy to switch between them to find the right fit, it can be worth the investment to choose a premium plan when you do finally settle on one. Most premium versions will allow you access to further analysis so you can continue your research and learning path.
Common Stock Analysis Tools Features
Individual stock analysis tools will contain various features specific to that platform, but there are some common characteristics you can look out for if they help you to make more informed choices.
For example, tools that incorporate real-time analysis can help you make quick decisions. After all, timing is critical to the stock market. The best stock analysis tools will also be easy to use with an intuitive interface that’s simple and speedy.
The ability to customize your dashboard and/or analysis can really help a stock analysis tool stand out. For instance, if you want to invest in biotech stocks or electric car stocks, relevant information on these stocks will help you decide which company to invest in. After all, you’re using this tool as a guide to help you navigate the stock market, so the more tailored it can be, the better.
In addition, stock promotions can potentially sway your decision. Stock analysis tools that connect you with promotions can be well worth their fee.
A stock chart is one of the most basic features you’ll find on any stock analysis tool. This chart visually portrays data regarding the stock such as pricing and trade volume, most commonly in a line graph. Depending on which stock analysis tool you choose, you may even have access to advanced tools such as market sentiments, social media buzz, and price momentum.
The on-balance volume (OBV) of a stock expresses how often stock is bought and sold, comparing uptrend volumes to downtrend volumes. When a stock experiences low trend volume, it typically means a price reversal.
Relative Strength Index
If you’re looking for another highs and lows comparison, the relative strength index (RSI) of a stock can help you determine whether or not a stock is overbought. Each stock is assigned a value between 0-100. Stocks with an RSI of 70 or above are overbought, while those with a 30 or below index are oversold.
A stock’s moving average captures how much that particular stock has moved over a specified period of time. Most often, investors will use a 50-day or a 200-day moving average to determine when to buy or sell. In most cases, when a stock’s 50-day average is below the 200-day average, it’s a good time to sell. When it’s above the 200-day average, you might think about adding to your portfolio.
Investors will also look at the moving average convergence/divergence (MACD). This indicator pinpoints the trend and momentum of stock to, again, determine when to buy and/or sell. A “0” rating indicates neutral, where positive numbers indicate ideal buy times and negative numbers signal it’s time to sell.
The best free stock analysis tool for you will depend on what you’re looking for and what’s most useful to you. Where one investor might appreciate the features of a particular stock analysis tool, another investor might find them a nuisance. In contrast, many investing apps also include stock analysis tools, some of them free and some of them paid.
You should first take advantage of free opportunities to figure out which stock analysis tools help you the most. You may even try free trials if you want to explore a paid tool before making a purchase. Ideally, you would pay for stock analysis tools that boost your investing power to make them worth the fee.
Day traders typically use 15-minute and 60-minute charts. They may also use 5-minute or tick charts.
There is a wealth of information available for free on the internet about the stock market. Do a simple Google search and you’re sure to find enough reading material to keep you busy for weeks on end. At the same time, some of the best investing books written are great for offline reading.
Invest Smartly in Stock for Free with Stock Analysis Tools
Free stock analysis tools work wonders for increasing your knowledge about stocks to make higher profits. There are many free stock analysis tools you can take advantage of, and we hope this article has shown you that they’re within reach. Whether or not you choose to pay for the premium versions is up to you. With the right knowledge, you may find yourself needing a financial advisor instead.