Artificial Intelligence has really come a long way from, say, fifteen years ago. Where before the most advanced thing someone could do with an AI was ask them questions, now it’s possible to have an AI perform specialized research for you.
It is because of this evolution that so many traders have been turning towards using AI in their trading process to increase the chances of their trades being profitable, after ensuring they know of the legalities of using AI for stock trading first, of course. Perhaps the best way of doing this is by using an AI bot that specializes in stock trading.
However, since there are so many AI bots that can trade stock out there, we’re here to go through the seven best ones to ensure your stock trading bot trades are as profitable as can be.
The first entry on this list goes to Kavout, which might surprise many AI fans as it’s a rather beloved trading platform. Because of this, we would just like to clarify beforehand that every bot mentioned on this list is the best of the best. Cream of the crop if you will. We just believe some AI bots deserve to be higher than others.
Kavout is an AI powered trading platform that uses various machine algorithms to analyze market data and trends in order to make predictions about future market movements using that said data. This might sound rather cookie cutter so far, but Kavout also offers personalized trade recommendations depending on the user’s preset risk tolerance and expected profitability goals.
There are various tools offered by this specific trading platform to ensure traders are able to make informed investment decisions and the thing that helps in doing this the most is its proprietary Kairos platform. Kairos is able to go through various social media posts, blog posts, market news, and financial data to gather data relating to potential trading opportunities and risks.
In addition to all of these tools, Kavout also offers various educational resources to its users which allow them to know the ins and outs of what goes on behind the scenes as a trader. This, in turn, allows users to use their own logical thinking and combine that with the data already at their disposal because of Kavout to make the most informed decisions possible. The most useful tool is the paper trading portfolio. This allows traders to trade with virtual money first to see how much they would have made or lost if they had used actual money.
The bottom line is that Kavout is an exceptional trading platform with various tools and features that are sure to help you in your trading journey. Even if you’re a complete beginner to stock trading, with all the resources given to you by Kavout, you’ll be a pro in no time at all.
Up next is Equbot, another stock trading platform that utilizes AI to use machine learning algorithms to analyze market data and make decisions regarding smart investments. The platform uses natural language processing as well as the computer vision expected from a platform like this in order to collect data from various different sources. These said sources include but are not limited to, new articles, online blogs, social media posts, company filings, and financial news.
Equibot’s algorithm specializes in identifying stocks that have the potential to outperform other stocks in the market in order to come to a profitable conclusion for the end user. Users are also given access to real time investment recommendations that the AI gives only after going through all the available data. Since it’s an AI, you already know the data will be up to date and completely reliable.
Of course, every trading platform also has a plethora of other tools the users can utilize at any time, and Equbot is no different. These tools include risk analysis as well as portfolio optimization, both of which are meant to help users make more informed decisions in order to manage their investments more efficiently.
One of this platform’s rather unique features is how it’s possible to have Equbot’s AI judge a company based on its Environmental, Social, and Governance score. What this does is it allows users to know which companies are committed to sustainable practices and which ones are not. This can help traders make portfolios and invest in businesses that align with their values to ensure there aren’t any regrets.
All in all, Equbot is a very advanced and helpful AI bot for stock trading, and we’re expecting it to only get better from here, especially with how dedicated a team is behind this super innovative platform.
The next AI stock trading bot option we want to go through is Tickeron. This is another stock trading platform that uses AI to gather data related to market trends and the stock performance of businesses in order to give evidence based recommendations on what to invest in and what to not invest in.
One of the many noticeable key features of this platform is the AI assisted smart portfolio tool. It basically goes through your portfolio in order to provide suggestions on how to best optimize it based on the data the AI is able to collect from various different sources on the internet, both directly and indirectly related to the businesses you’ve invested in. This way traders are able to areas where their portfolios might be lacking.
Naturally, Tickeron also monitors your portfolio in real time in order to alert you of any potential risks or profitable decisions you can make. This alerts are given only after analyzing a variety of data, including social media posts and stock prices.
Additionally, Tickeron also has various non AI powered tools you can take advantage of as well. These tools include educational ones that you can take advantage of in order to make more informed stock related decisions that are more likely to be profitable, as well as personalized support or advice you can ask for.
In summary, Tickeron offers users a variety of different tools and measures they can take to ensure every decision they take is an informed one, and when you add in the fact that it also offers users various customizable options depending on how their portfolios are, you have yourself a winner.
Alpaca is a rather unique entry on this list, as instead of being a stock trading platform that uses AI, it’s a platform that allows users to deploy their own algorithmic AI bots in order to conduct trades after first collecting the necessary data. Naturally, these bots can be freely customized in whatever way you want depending on various factors such as the market condition at the time as well as the volatility of your portfolio.
Perhaps the thing that makes this specific platform the most unique is the fact that it has an open source API. Because of this, developers are able to build their own trading bot using the preexisting technology of Alpaca. Like this, traders can ask for or develop bots that suit their own specific risk management potential or unique trading strategies.
Of course, being able to build your own bot isn’t a requirement if you want to use this specific platform. This is because Alpaca also offers a range of prebuilt bots that are already set with some of the most commonly found conditions and types of trading, such as momentum trading and swing trading.
When it comes to the fee, Alpaca offers potential and existing users various plans to choose from depending on what they need from the platform. Naturally, the more you pay the more benefits and features you can expect. There’s also a free plan for traders who just want to check the platform out but don’t want to pay a hefty fee in case they don’t like it.
All in all, we’d say Alpaca is by far the best platform for developers who want to use AI bots, but want those said AI bots to have very specific instructions. If you feel like your portfolio or requirements are a little too unique and other AI bots aren’t able to cater to them, then Alpaca is the platform for you.
If you’ve been in the AI stock trading bots scene for a while, then chances are you’ve heard of TrendSpider before. After all, it’s one of the most popular of its kind and is considered to be the most comprehensive trading bot software that utilizes AI. Perhaps the best thing about it is the fact that it provides automated technical analysis assistance all the while giving the users the freedom to customize the engine so they could trade the way they want.
One of the most noticeable features TrendSpider has is that it can automatically detect and draw trendlines on price charts after doing research using various different methods. The platform uses AI algorithms to analyze trends that are relevant to the current market conditions to ensure the data collected is up to date and usable. These aforementioned trendlines can then be used by traders in order to identify potential support and resistance levels to make more efficient trading decisions.
As is to be expected, this platform also has trading bots that collect data in real time to give more informed suggestions to traders. It’s also possible to set an alarm or notification to be alerted as soon as a certain trendline is breached so you’re able to make quick decisions regardless of whether or not you’re keeping an eye on the market at that time.
TrendSpider also offers various other technical analysis tools, such as multi timeframe analysis. backtesting, automation tools, smart watch lists, options flow, dark pool data, and VERY powerful mobile apps that allow users to check the market regardless of where they are.
With all the graphing and charting features TrendSpider gives users, we highly recommend traders who have a habit of making trading decisions only after doing technical analysis of the market themselves to use this specific AI bot platform.
#2. Signal Stack
Signal Stack is an AI powered trading platform that has gained popularity among traders and investors fairly recently. As is to be expected, it uses AI in order to collect data from market trends and other relevant places. That data is then analyzed and the traders are given recommendations based on what decision would be the riskiest and which would be the most profitable.
While Signal Stack offers various tools and features such as real time analysis risk management options, and customizable trading strategies in an already very user friendly interface, perhaps the best thing about this platform is how it allows traders to communicate with an entire community of already seasoned traders. This allows traders to share insights and trading ideas with each other and build relationships on the bases of a common interest/hobby.
Another key feature of this platform is the automated trading feature. The platform’s algorithm can be customized in a way that it’ll make trade decisions automatically when very specific trade conditions are met. Although we realize many traders might be rather apprehensive about letting an AI bot make trades for them, this feature has the potential to save some users a lot of time.
Of course, the thing that urges many users to try the automated trading feature is the fact that Signal Stack also has top of the industry risk management tools, including stop loss orders and position management. These types of tools allow traders to make decisions without the risk of losing their entire life savings in a single trade. Good thing if you ask us.
With all of the features Signal Stack offers users, it’s completely understandable why so many traders have been jumping on the Signal Stack train. When we also consider the fact that it has an automated trade feature, something that not many platforms have, we’re expecting even more people to get on it soon enough.
#1. Trade Ideas
Here it is, the number one AI bot for stock trading out there, Trade Ideas. If you’ve been in the trading bots scene for even some time, then you’ve definitely heard of this specific AI powered robo advisor and stock scanner before. We can confidently say that the biggest reason for this platform being at the top of this list is the extremely talented and dedicated team behind it.
After all the technology this platform uses has been built from the ground up by a US based team of developers, something that’s rather surprising since most similar platforms simply use some preexisting code or technology after making some changes to make it more personalized. The team’s server also connects directly to the Exchanges.
With that being said, what does this platform have for you, the user? Well, for starters, the AI bots this platform has are capable of very quickly and efficiently going through various sources in order to collect relevant and up to date data. This data is then given to you in the form of comprehensive trade recommendations that have the potential to either increase your profitability or reduce the risk of a trade you were about to conduct.
The algorithm of Trade Ideas is called “Holly”, and as soon as the market closes, Holly starts analyzing the previous market session as well as its effect on the last 60 days of trading. What this pretty much means is that the more this specific algorithm trades, the better it becomes at analyzing data and predicting market changes to give more informed and accurate recommendations to the users. Holly’s so good at its job that it’ll make someone wonder if AI could ever replace trading.
The Trade Ideas team is dedicated to ensuring that regardless of what level of trading you’re at, you’re still able to utilize the various tools and features offered to you by this platform. Even entry level traders will find themselves being able to learn quickly using the dedicated training and practice sessions held to bring newcomers up to speed. The more traders the merrier is what we say!