I know traders think differently, so I’m trying to understand how people actually think about pricing when it comes to trading tools.
My husband has been trading for 15+ years and we were having a debate about this.
I feel like tools should be more accessible, like around $45/month, especially in the beginning so more people can use them and see if they actually help.
He thinks something closer to $97/month makes more sense if the tool provides real value and helps with decision making.
So I wanted to hear from other traders…
Are you paying for any trading tools right now? If yes, which ones and how much?
What actually makes you feel like a tool is worth paying for?
At what price do you start thinking it’s too expensive?
(Not promoting anything, just trying to understand how traders think about pricing of trading tools)
Traders , what's a fair monthly price you pay for a trading tool?
byu/Trade-nurse inStockMarket
Posted by Trade-nurse
7 Comments
$0 pretty much all of the information is free on a trading platform, company website, or yahoo/msn.
Wtf is a trading tool? I think my app is like $3 per trade
My philosophy is that everyone that hides behind a paywall secretly has nothing to offer. I don’t need trading tools. Useless overhead.
Zero. I use Schwab TOS that used to be TD Ameritrade. Used to pay for TradingView but find it useless as a paid app these days. The free option good enough although now it has a ton of distracting advertisements. Still not worth the $10 plus monthly even with their annual Black Friday deals.
Will say it allows you to create multiple different charts and flag stocks but one could pay for a month and create all the charts needed then on free version use the one needed. Including opening multiple sessions with each having a different chart. Just cannot have charts with multiple imbedded charts. Where TOS works.
zero.
All the necessary data can be found for free (Finviz, stooq, yahoo finance etc ). If you have little bit of coding experience you can automate that process too.
I use Fidelity+. Its a desktop app thats pretty good. Reminds me of my days working with the quant team where I used Bloomberg
Im not sure if im a “trader” but I do trade. I pay either $100 or $200 /yr for the tool I use. Sure they have daily alerts and all that other bullshit everyone has, but i like the charts and data it provides.