share-trading-software

Your guide to share trading software

Detailed charts and technical analysis can help you decide which stocks to buy and sell. Find out whether share trading software is right for you.

Share trading software can help you pick winning investments on Australian and international stock exchanges. These software applications identify rising stocks for day trading and sustained income stocks for long-term investments.

You can use share trading software to achieve capital growth no matter your investment strategy; however, share trading software is favoured by day traders looking to take advantage of price movements before the market closes.

Share Trading Account Offer

IG Share Trading Offer

$0

monthly fee

$8

standard trade

Share Trading Account Offer

Special offer: Earn up to 10,000 Qantas Points on a new IG Share Trading account.
Competitive broker fees on Australian and international shares

  • Monthly fee: $0.00
  • Brokerage fee - standard trade: $8.00
  • International: Yes
  • Support - After hours: Yes
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Share trading software is different to a share trading platform. A share trading platform acts as an intermediary between you and a stock exchange so you can make trades. Although some packages can automate trades, share trading software is not designed to place trades for you but, rather to help you with market analysis.

Also called technical analysis software, share trading software provides research and analysis tools which allow you to research stocks. Examples of tools you can use includes advanced charting and custom tax reporting. Share trading software also includes technical indication functions (indicators) which looks at patterns in the past to predict future performance.

Share trading software does have limitations. These applications give you guidance on which shares to trade; however, past performance is no guarantee of future results.

What is share trading software and how is it used?

Share trading software can give you information about the past and present performance of a company, live stock updates and recommendations about which shares to trade. Share trading software works by choosing the best stocks for you to trade based on predetermined criteria.

Share trading software is expensive. It’s important to research share trading software before you commit to making a purchase so you can be sure the features on offer are the best you can get for your budget. For example, different software applications make use of different indicators. Indicators are algorithms which help you decide which shares to trade. Popular market analysis software Metastock provides the RMO trading indicator, something that isn’t available with other packages such as BullCharts. You can request a free trial of most share trading analysis packages so you can test the features on offer before you buy the software.

Keep track of your holdings with Sharesight's portfolio tracker

Sharesight Portfolio Tracker

Sharesight works alongside your online share trading platform and can be integrated with your Xero account.

  • Free for investors with less than 10 holdings
  • Comprehensive dividend and tax reporting
  • 25+ stock exchanges supported
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What are the benefits of using share trading software?

  • Backtesting. Backtesting is a share trading software feature you can use to test your trading strategies without spending a dollar. Your chosen trading strategy is tested against past performance of securities and different investments to give an indication about future performance.
  • Notifications. Share trading analysis software can send alerts to your mobile phone when your trading signals have been met so you can execute your trades.
  • Education. Share trading software applications feature educational tools you can use to learn about the software itself as well as different trading strategies and indicators.
  • Updates. Software developers are constantly improving marketing analysis software so you’re always up-to-date.
  • Product testing. Most share trading software packages include a free trial period. You can even ask the software provider for a list of the package’s recommended trades over the last couple of months if you want to assess the performance of the software’s technical indicators.

What are potential risks associated with using share trading software?

  • There is no perfect system. There’s no guarantee you will make money using share market analysis software. The Australian Securities and Investment Commission (ASIC) advises investors to steer clear of any software promoted as a foolproof way to make money on share market. Share trading software can help you make a best guess about which stocks to trade, but the economy and the markets are unpredictable. While we can see market trends over time, these movements can be identified in retrospect only. Major international events such as the 2008 Global Financial Crisis completely disrupt market trends and make it near-impossible to predict what will happen next.
  • Backtesting limitations. While backtesting is a major drawcard there are limitations. For example, backtesting doesn’t take into account market crashes and company announcements which can significantly influence share price.
  • Active trading. Share trading software has simplified day trading for everyday investors. Although there’s potential for quick profits, day trading is a high risk investment strategy. Day traders can invest in securities, forex and commodities to take advantage of price movements before the close of the stock exchange.

Definition look-up

Share trading strategy

A trading strategy sets out when you want to buy and when you want to sell securities. A trading strategy includes criteria for buy and sell orders such as stop loss orders designed to meet your investment objectives such as capital growth.

Day trading

Day trading involves buying and selling securities and other investments such as commodities to take advantage of the movement in price between the time the market opens and the time it closes. Day traders generally leverage investments. Borrowing to invest presents opportunities for large profits as well as large losses. Some share trading software applications are suited to day traders only; while other applications with a focus on comprehensive charting are suited to long term investment strategies. Day traders capitalise on the short term price movements of investments.

Indicators

Technical indicators let you set your own criteria so you can decide which stocks to purchase and sell. You can set parameters to identify opportunities for capital gain. Indicators examine the past performance of the stock market to make a prediction about price movements in the future.

Compare share and CFD trading accounts

Updated September 22nd, 2019
Name Product Monthly fee Standard Brokerage Fee Margin trading - Online
$0
$8.00 or 0.1%
Yes
Special offer: Earn up to 10,000 Qantas Points when you start trading on a new IG Share Trading account. T&C applies.
Enjoy some of the lowest brokerage fees on the market when trading Australian shares, international shares, forex and CFDs, plus get access to 24-hour customer support.
$0
$6.99 or 0.1%
Yes
High quality, low-cost brokerage on global share trading.
Access up to 19,000 global stocks on 36 of the world’s major stock exchanges and enjoy some of the most competitive FX rates on the the market when you trade with Saxo Capital Markets.
$0
$9.50
No
Trade ASX-listed shares for a flat fee of $9.50, regardless of the trade size. New customers receive free access to Community Insights with SelfWealth Premium for the first 90 days. Follow other investors and benchmark your portfolio performance.
$0
$15 for first 10 trades
Yes
Offer: For a limited time, get a custom deal based on your trading preferences when you switch to Bell Direct.
Bell Direct offers a one-second placement guarantee on market-to-limit ASX orders or your trade is free, plus enjoy extensive free research reports from top financial experts.
$0
$11 or 0.1% for first 10 trades (for trade value up to $11,000)
Yes
Access a broad range of investment products from Australia and overseas.
Take advantage of IPOs and trade shares, warrants, options and CFDs listed across the ASX, SSX and Chi-X, and other major global exchanges, including US, Canada and UK markets.

Compare up to 4 providers

Updated September 22nd, 2019
Name Product Minimum Opening Deposit Major Trading Instruments Commission (ASX 200 Shares) Platforms
AU$100
Indices, FX, Shares, Commodities, Cryptocurrency, ETFs, International futures
No commission
Plus500 Web Trader
CFDs are complex financial products and traders are at high-risk of losing all of or more than their initial investment.
Finder exclusive offer: Open a new trading account and receive a welcome bonus of AU$120 when you deposit your first $400 and enter the bonus code “Special200”. T&C’s apply.
Trade Australian and international CFDs on shares, forex, indices, commodities and more.
$0
Indices, FX, Shares, Commodities, ETFs
0.08% with $5 minimum
MetaTrader 4
At Pro
Advantage Web
CFDs are complex financial products and traders are at high-risk of losing all of or more than their initial investment.
Special offer for new customers: Get a cash bonus of up to $1,000 when you open a new account with City Index and meet minimum deposit and trade requirements. T&Cs apply.
Trade CFDs on indices, FX, global & Australian shares and commodities, plus access other markets such as metals, bonds and interest rates.
$0
Indices, FX, Shares, Commodities, Cryptocurrency, ETPs
0.08% with $7 minimum
MetaTrader 4
ProReal Time
CFDs are complex financial products and traders are at high-risk of losing all of or more than their initial investment.
Introductory offer: Build confidence by trading at lower minimum trade sizes for the first six weeks. Plus, receive a reduced commission on Australian shares CFDs. T&C's apply. Trade from over 15,000 markets with Australia's leading service for CFD trading and forex.
AUD$3,000
Indices, FX, Shares, Commodities, ETFs
0.10% with $6 minimum
SaxoTraderGo
SaxoTrader
CFDs are complex financial products and traders are at high-risk of losing all of or more than their initial investment.
More than 9,000 CFDs including single stocks, stock indices and commodities
AU$200
Indices, FX, Shares, Commodities, Cryptocurrency, ETFs
No commission
eToro Trading Platform
CFDs are complex financial products and traders are at high-risk of losing all of or more than their initial investment.
Join the largest social trading network in the world.
US$200
Indices, FX, Commodities, Cryptocurrency
No commission
MetaTrader 4
MetaTrader 5
cTrader
CFDs are complex financial products and traders are at high-risk of losing all of or more than their initial investment.
Trade stock indices on the global market, via Pepperstone's MetaTrader 4 and cTrader client terminals.
AU$1,000
Indices, Shares, Equities, Commodities, Futures
0.10% with $10 minimum
IRESS
CFDs are complex financial products and traders are at high-risk of losing all of or more than their initial investment.
Trade CFDs with FP Markets using the IRESSTrader platform. Trade CFDs on international equities, futures and forex.

Compare up to 4 providers

Updated September 22nd, 2019
Name Product Minimum Opening Deposit Minimum spread Commission Minimum Trade Size Platforms
AU$100
0.7 - 3.0 pips
$0
0.01 lots
Plus500 Web Trader
Margin FX is a complex financial product and traders are at high-risk of losing all of or more than their initial investment.
Finder exclusive offer: Open a new trading account and receive a welcome bonus of AU$120 when you deposit your first $400 and enter the bonus code “Special200”. T&C’s apply.
Open an account and experience Plus500's easy-to-use proprietary trading platform, 24/7 online chat support and free real-time forex quotes.
$0
0.5 - 1.22 pips
$0
0.01 lots
MetaTrader 4
At Pro
Advantage Web
Margin FX is a complex financial product and traders are at high-risk of losing all of or more than their initial investment.
Special offer for new customers: Get a cash bonus of up to $1,000 when you open a new account with City Index and meet minimum deposit and trade requirements. T&Cs apply.
Choice of trading platforms, integrated Reuters news and device-synching so you can monitor trades across multiple devices.
$0
0.6 - 1.5 pips
$0
1 lot
MetaTrader 4
ProReal Time
Margin FX is a complex financial product and traders are at high-risk of losing all of or more than their initial investment.
Introductory offer: For the first two weeks of trading, take advantage of IG's lower minimum trade sizes to help you build confidence.
Choice of trading platforms. Choose optional extras like advanced charting, reporting and order types. Over 90 currency pairs to choose from.
AU$3,000
0.6 - 1.1 pips
$0
5,000 units
SaxoTrader
SaxoTraderGO
Margin FX is a complex financial product and traders are at high-risk of losing all of or more than their initial investment.
Competitive spreads, plus integrated news spreads and reports from Saxo's team of in-house analysts.
$200
1.0 pip
$0
$200 (to CopyTrade)
eToro Trading Platform
Margin FX is a complex financial product and traders are at high-risk of losing all of or more than their initial investment.
Social trading, advanced charting tools, plus receive exclusive benefits through the eToro Club (membership is tiered based on the equity in your trading account).
US$200
0.0 - 0.1 pips
AU$3.50 per 100k traded
0.01 lots
MetaTrader 4
MetaTrader 5
cTrader
Margin FX is a complex financial product and traders are at high-risk of losing all of or more than their initial investment.
Choose from a range of fee-free funding methods, plus a suite of 10 different apps available as part of Pepperstone's Smarter Trading Tools.
AU$200
0.1 - 1.1 pips
$0
0.01 lots
MetaTrader 4
MetaTrader 5
Margin FX is a complex financial product and traders are at high-risk of losing all of or more than their initial investment.
Low minimum opening deposit, real-time news and pricing, and customisable alerts based on news or technical trading indicators.
$200
From 0.0-0.1 pips
AU$3.50 per 100k traded
0.01 lots
MetaTrader 4
MetaTrader 5
cTrader
Margin FX is a complex financial product and traders are at high-risk of losing all of or more than their initial investment.

Compare up to 4 providers

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