Contributor, Benzinga
March 10, 2023
Trade Ideas
Overall Rating:
securely through Trade Ideas's website

Trade Ideas enables its subscribers to make better market decisions in the US exchanges with access to risk management targets to get in and out of a trade. The company sharpens trading decisions by combining simulated trading with artificial intelligence (AI) to model, test, and optimize trading strategies and decisions. Trade Ideas distinguishes itself from the crowd by offering connections to multiple brokers as an alternative to legacy tools and platforms. Trade Ideas offers a continuously innovating decision support platform that saves time and promotes confident and consistent intra-day and swing trading decisions.

Best For
  • Intraday and swing traders
  • Active traders
Pros
  • Real-time scans
  • Innovative visualizations
  • High quality simulated trading
Cons
  • No mobile app
  • May be easy to get lost for some users

Trade Ideas Ratings at a Glance

Products
Customer Service
Security
Pricing
User Experience
Overall

Trade Ideas Products

Trade Ideas offers a short list of decision-support products with extensive features and capabilities. The platform stands out from the competition by emphasizing the best of hu(man) and machine. Making Trade Ideas part of an active trader’s routine saves valuable time. Trade Ideas uses AI to rank and identify algorithms performing well in the current market. Opportunities identified by the AI or other theme-based channels are visualized on charts annotated with stock-specific risk parameters (e.g., profit target, stop loss) that provide time-saving guardrails for an informed trading decision. When connected to a partner broker or Trade Ideas’ simulated trading engine, additional capital at-risk decisions are answered. For example, the AI identifies another electronic vehicle manufacturer, Lucid, LCID, from a currently high-performing algorithm. Charts display the entry and exit targets associated with it. From here a price alert can be drawn on the chart for continued observation or a preset strategy of risking $200 allows Trade Ideas to calculate the number of shares to purchase and place the trade with the firm or simulated trading engine. The position displays within Brokerage + and the real-time P&L monitor instantly updates. Time spent calculating risk and determining parameters saved. The next trading decision can be made. 

Trade Ideas offers its technology via a downloaded, thin client available in Windows and a web-based platform. There is currently no mobile app available. 

Investors have access to a varied selection of over 15,000 different investments such as ETFs, stocks, and indices. Trade Ideas’ search engine allows subscribers to obtain key technical, fundamental, and derived data points from over 20 years of analysis. 

Trade Ideas Customer Service

Trade Ideas’ earns high marks for its customer service, as measured by ratings and daily testimonials. It provides several methods of communication to its customers. The company maintains a detailed, up-to-date User Guide, knowledge base, and curated playlist of use cases and instructional videos, Additionally Trade Ideas has a strong social media presence, offers an email address for inquiries and provides a prominently displayed support ticket form to field any issues. Trade Ideas maintains a presence on platforms such as Twitter (@TradeIdeasLLC), Instagram (TradeIdeas), LinkedIn and Facebook. 

Inquiries are usually resolved within a day. The company also provides a visible phone number for customers who prefer to have a live interaction with a representative. Support staff trade in the markets and bring a wealth of experience not just with the technology, but properly leveraging in any market condition. We rate this very high compared to other services.

Overall, Trade Ideas provides multiple opportunities to connect to its support resources and facilitate an expedited response time when it comes to addressing inquiries. It also provides a strong social media presence. However, the company has room for improvement in terms of a third-party service like TrustPilot to collect testimonials. 

Trade Ideas Security

Trade Ideas protects its data at rest using industry-standard AES 256 encryption, while info in transit is protected using Transport Layer Security.  This means that user data cannot be viewed by eavesdroppers no matter where you connect to the internet.

Internally, Trade Ideas maintains protocols to protect integrity and confidentiality by employing Multi-Factor Identification (MFA), Virtual Private Networks (VPNs), and firewalls to ensure only agents who need data for business purposes can access that information.  Additionally, Trade-Ideas employs logging of server traffic to detect anomalies and facilitate appropriate forensics should a security incident occur. Lastly, geographically isolated encrypted backups are maintained to ensure resiliency. 

Trade Ideas Pricing

Trade Ideas offers two levels of subscription services: standard and premium accounts, as well as a newsletter subscription service called TI Swing Picks. While there is no free trial, Trade Ideas provides several options for evaluating the service free of charge. 

From the homepage of the website, visitors can sign up for the free Trade of the Week delivered to their Inbox before the open on Mondays. Additionally, Trade Ideas maintains a moderated trading room that is free to access whether you are a subscriber or not. The Trading Room operates from 7am ET to 3pm ET with a moderator who discusses the technology and what stocks are highlighted by the platform. Questions are asked and answered via the chat feature of the room, which at the time of this review had over 500 visitors in attendance. 

A key difference between the standard and premium subscription levels regards the access to the decision-support AI named, Holly. Not only are the ideas generated by Holly useful, but the record of what trades Holly has made, even from the day or days before, makes for useful watch lists and price alerts. The premium level also provides back testing and risk management visualizations on the charts. For a full list of the differences between subscription levels, visit the Trade Ideas pricing page. 

Trade Ideas attracts experienced and new active investors and traders. There is no fee to create an account. All subscribers are required to fill out standard exchange forms from the NYSE and Nasdaq. The firm pays the resulting exchange fees for non-professionals.

Trade Ideas User Experience

Trade Ideas’ downloaded and website platforms are designed to show immediate value and generate an impactful user experience. At times this can seem overwhelming, especially to those new to the markets. A channel bar lists a collection of market-themed algorithms like Unusual Options, Pre-Market Movers, Sector ETFs, and creative variations on technical conditions like Surging Stocks, Momentum, and Alpha Predator. Every idea can be visualized on a chart that also provides risk parameters specific to the stock. The experience of knowing how to get into a trade as well as how to get out saves time in making important trading decisions.

In addition to the experience of seeing the idea generation content, Trade Ideas creates a simulated trading experience with real-time pricing data so that decisions from trading plans can be evaluated. 

Trade Ideas’ website is relatively straightforward, but key details could be more clearly organized to boost comprehension.

The platform and website provide a comprehensive experience that places the active investor in the driver’s seat. You get access to a wide range of tools to compare, research, and ultimately make an informed trade.

Trade Ideas Overall

Trade Ideas earns a total score of 4.5 out of 5. They have notable product offerings, experienced customer support, and a track record of continuous innovation. 

The product offering includes two different account options. A Premium subscription allows investors to access helpful tools such as an AI assistant and charts annotated with risk parameters of the trade. Both accounts allow you to research various investment opportunities such as stocks, ETFs, and other indices.

Pricing remains affordable, with resources and content starting as low as $0 per month. Subscriptions can be purchased on an annual or monthly basis to allow active investors the freedom to decide how long they intend to use an account.

While Trade Ideas manages to stand out from the crowd, its user experience and availability on other operating systems have room for growth. For example, the website version of the technology mimics the desktop experience and could be better optimized for viewing on the go.  

Trade Ideas’ platform is designed to allow active traders and investors from all levels to access top-tier resources and level the playing field with actionable intelligence. The firm focuses on using data in an approachable manner to streamline decision-making. The combination of AI and financial data allows active traders and investors the opportunity to save time normally spent calculating risk and sizing considerations and instead identify actionable ideas and make better decisions. 

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