Quick Overview
- 1#1: thinkorswim - Professional-grade desktop platform offering advanced charting, real-time scanning, options analysis, and paper trading for active stock traders.
- 2#2: TradingView - Web-based charting and social platform providing powerful technical analysis tools, custom indicators, and broker integrations for stock trading.
- 3#3: Trader Workstation (TWS) - Highly customizable desktop platform supporting stocks, options, and global markets with algorithmic trading and low-cost execution.
- 4#4: TradeStation - Comprehensive platform for backtesting, automating, and executing stock trading strategies with EasyLanguage scripting.
- 5#5: Active Trader Pro - Robust desktop application delivering real-time quotes, customizable charts, and advanced order types for stock and options trading.
- 6#6: Power E*TRADE - Advanced web and mobile platform with sophisticated charting, snapshot analysis, and streaming data for stock traders.
- 7#7: NinjaTrader - Advanced platform for order flow analysis, automated trading, and charting across stocks, futures, and forex.
- 8#8: Webull Desktop - Commission-free desktop app featuring extended-hours trading, 50+ technical indicators, and customizable layouts for stock investors.
- 9#9: DAS Trader - High-speed platform optimized for day trading stocks with Level II data, hotkeys, and ultra-fast order routing.
- 10#10: Sierra Chart - High-performance charting and trading platform with extensive technical studies, historical replay, and custom development support.
We ranked these tools based on key factors: advanced features (e.g., real-time analysis, automated strategies), performance (speed, reliability), user experience (intuitive design, accessibility), and overall value, ensuring relevance across diverse trading styles and goals.
Comparison Table
Navigating the variety of trading stock software requires careful evaluation, and this comparison table streamlines the process by examining top tools like thinkorswim, TradingView, Trader Workstation (TWS), TradeStation, and Active Trader Pro. Readers will discover key differences in features, usability, and suitability for different trading styles, empowering them to select the platform that best fits their needs.
| # | Tool | Category | Overall | Features | Ease of Use | Value |
|---|---|---|---|---|---|---|
| 1 | thinkorswim Professional-grade desktop platform offering advanced charting, real-time scanning, options analysis, and paper trading for active stock traders. | specialized | 9.6/10 | 9.9/10 | 7.8/10 | 10/10 |
| 2 | TradingView Web-based charting and social platform providing powerful technical analysis tools, custom indicators, and broker integrations for stock trading. | specialized | 9.3/10 | 9.8/10 | 8.5/10 | 9.2/10 |
| 3 | Trader Workstation (TWS) Highly customizable desktop platform supporting stocks, options, and global markets with algorithmic trading and low-cost execution. | enterprise | 8.7/10 | 9.6/10 | 5.9/10 | 9.3/10 |
| 4 | TradeStation Comprehensive platform for backtesting, automating, and executing stock trading strategies with EasyLanguage scripting. | specialized | 8.7/10 | 9.5/10 | 7.0/10 | 8.2/10 |
| 5 | Active Trader Pro Robust desktop application delivering real-time quotes, customizable charts, and advanced order types for stock and options trading. | specialized | 8.7/10 | 9.2/10 | 7.5/10 | 9.5/10 |
| 6 | Power E*TRADE Advanced web and mobile platform with sophisticated charting, snapshot analysis, and streaming data for stock traders. | specialized | 8.7/10 | 9.2/10 | 8.0/10 | 9.5/10 |
| 7 | NinjaTrader Advanced platform for order flow analysis, automated trading, and charting across stocks, futures, and forex. | specialized | 8.4/10 | 9.2/10 | 6.8/10 | 8.7/10 |
| 8 | Webull Desktop Commission-free desktop app featuring extended-hours trading, 50+ technical indicators, and customizable layouts for stock investors. | specialized | 8.6/10 | 9.2/10 | 8.1/10 | 9.4/10 |
| 9 | DAS Trader High-speed platform optimized for day trading stocks with Level II data, hotkeys, and ultra-fast order routing. | specialized | 8.4/10 | 9.2/10 | 6.8/10 | 7.9/10 |
| 10 | Sierra Chart High-performance charting and trading platform with extensive technical studies, historical replay, and custom development support. | specialized | 8.7/10 | 9.6/10 | 5.8/10 | 9.2/10 |
Professional-grade desktop platform offering advanced charting, real-time scanning, options analysis, and paper trading for active stock traders.
Web-based charting and social platform providing powerful technical analysis tools, custom indicators, and broker integrations for stock trading.
Highly customizable desktop platform supporting stocks, options, and global markets with algorithmic trading and low-cost execution.
Comprehensive platform for backtesting, automating, and executing stock trading strategies with EasyLanguage scripting.
Robust desktop application delivering real-time quotes, customizable charts, and advanced order types for stock and options trading.
Advanced web and mobile platform with sophisticated charting, snapshot analysis, and streaming data for stock traders.
Advanced platform for order flow analysis, automated trading, and charting across stocks, futures, and forex.
Commission-free desktop app featuring extended-hours trading, 50+ technical indicators, and customizable layouts for stock investors.
High-speed platform optimized for day trading stocks with Level II data, hotkeys, and ultra-fast order routing.
High-performance charting and trading platform with extensive technical studies, historical replay, and custom development support.
thinkorswim
specializedProfessional-grade desktop platform offering advanced charting, real-time scanning, options analysis, and paper trading for active stock traders.
thinkScript, a proprietary scripting language allowing users to create fully custom studies, strategies, and alerts
thinkorswim is a professional-grade trading platform offered by Charles Schwab (formerly TD Ameritrade) that provides advanced tools for trading stocks, options, futures, forex, and more across desktop, web, and mobile applications. It excels in real-time data analysis, customizable charting with hundreds of technical indicators, and powerful backtesting capabilities. The platform supports paper trading for risk-free practice and includes sophisticated scanners and strategy builders for active traders.
Pros
- Unparalleled depth of charting, analysis tools, and real-time Level II data
- Powerful thinkScript language for custom indicators and automated strategies
- Free paperMoney simulator for practicing trades without financial risk
Cons
- Steep learning curve due to overwhelming interface and advanced features
- Resource-intensive desktop app requires a powerful computer
- Web and mobile versions lack some desktop functionalities
Best For
Experienced active traders and technical analysts who need professional-level tools for stocks, options, and futures trading.
Pricing
Free for all Charles Schwab brokerage account holders with no platform access fees.
TradingView
specializedWeb-based charting and social platform providing powerful technical analysis tools, custom indicators, and broker integrations for stock trading.
Pine Script programming language for creating and sharing custom indicators and trading strategies
TradingView is a comprehensive web-based charting platform designed for technical analysis across stocks, forex, cryptocurrencies, futures, and more. It offers advanced charting tools, customizable indicators via Pine Script, real-time data feeds, and a social community for sharing trading ideas and strategies. Users can access it on desktop, web, and mobile, with broker integrations for trade execution.
Pros
- Exceptional charting tools with 100+ indicators and drawing tools
- Vibrant social community for sharing ideas and scripts
- Pine Script for custom indicators and automated strategies
- Multi-asset support and real-time data across devices
Cons
- Free tier limited by ads, fewer saved charts, and indicator caps
- No native brokerage; relies on third-party integrations for trading
- Steep learning curve for Pine Script and advanced features
- Premium features can get expensive for casual users
Best For
Technical traders and analysts seeking customizable charts, community insights, and multi-asset analysis.
Pricing
Free basic plan; paid tiers: Essential ($12.95/mo annual), Plus ($24.95/mo annual), Premium ($49.95/mo annual).
Trader Workstation (TWS)
enterpriseHighly customizable desktop platform supporting stocks, options, and global markets with algorithmic trading and low-cost execution.
Comprehensive API and algorithmic order types for automated, high-frequency trading strategies
Trader Workstation (TWS) is Interactive Brokers' flagship desktop platform, offering direct market access to stocks, options, futures, forex, bonds, and more across over 150 global exchanges. It provides advanced tools like customizable charts, real-time scanners, algorithmic trading, and robust API integration for automation. Designed for high-volume and professional traders, it emphasizes depth, speed, and low costs over simplicity.
Pros
- Unparalleled access to global markets and asset classes
- Powerful customization, API, and algorithmic trading tools
- Extremely low commissions for active traders
Cons
- Steep learning curve and overwhelming interface for beginners
- Cluttered, dated UI despite Mosaic improvements
- Requires minimum activity or balance for optimal pricing
Best For
Advanced and professional traders needing sophisticated tools, global access, and cost efficiency for high-volume trading.
Pricing
Free platform with brokerage account; tiered commissions as low as $0.005 per US share (min $1/order), volume discounts, and no inactivity fees for active accounts.
TradeStation
specializedComprehensive platform for backtesting, automating, and executing stock trading strategies with EasyLanguage scripting.
EasyLanguage for custom indicators, strategies, and fully automated trading systems
TradeStation is an advanced trading platform tailored for active and professional traders, providing powerful charting, technical analysis, and direct market access for stocks, options, futures, and ETFs. It excels in strategy development through its proprietary EasyLanguage scripting, allowing users to create, backtest, and automate custom trading systems. The platform integrates seamless analysis with execution, making it ideal for technical traders who demand precision and customization.
Pros
- Exceptional charting and technical analysis tools with hundreds of indicators
- Powerful backtesting, optimization, and automated trading via EasyLanguage
- Seamless integration of research, strategy development, and trade execution
Cons
- Steep learning curve, especially for beginners unfamiliar with programming
- Desktop-focused with less robust mobile and web apps
- Inactivity fees ($10/month after 90 days) and higher costs for futures/options
Best For
Experienced active traders who develop and automate custom strategies using advanced technical analysis.
Pricing
Commission-free stocks/ETFs; options $0.60/contract; futures $0.85+/side; no account minimum but $10/month inactivity fee.
Active Trader Pro
specializedRobust desktop application delivering real-time quotes, customizable charts, and advanced order types for stock and options trading.
Active Trader Ladder for ultra-fast, one-click order entry and position management
Active Trader Pro is Fidelity's advanced desktop trading platform tailored for active stock, options, and futures traders, offering robust tools for analysis and execution. It features highly customizable workspaces, over 50 technical studies on charts, real-time streaming quotes, and advanced order types including the Active Trader Ladder for rapid trading. Seamlessly integrated with Fidelity's brokerage, it supports multi-monitor setups and powerful scanning capabilities for identifying trading opportunities.
Pros
- Extensive customization with multiple layouts and multi-monitor support
- Advanced charting, scanning, and real-time data tools
- Lightning-fast order execution with no platform fees
Cons
- Steep learning curve for new users
- Windows desktop-only (no Mac or web version)
- Requires a Fidelity brokerage account
Best For
Experienced active day traders who are Fidelity customers and need a powerful, customizable desktop platform for high-volume stock trading.
Pricing
Free for Fidelity brokerage customers; trades subject to standard commissions ($0 for U.S. stocks/ETFs).
Power E*TRADE
specializedAdvanced web and mobile platform with sophisticated charting, snapshot analysis, and streaming data for stock traders.
Options Analyzer with visual strategy builder, risk graphs, and probability calculations
Power E*TRADE is E*TRADE's advanced web-based trading platform tailored for active traders, offering customizable workspaces, real-time streaming quotes, and Level II data. It excels in stock, options, and futures trading with over 100 technical studies, advanced charting, and tools like the Options Analyzer for strategy building and risk assessment. The platform integrates seamlessly with E*TRADE brokerage accounts, enabling fast trade execution and portfolio analysis.
Pros
- Over 100 technical studies and customizable multi-chart layouts
- Powerful options tools including analyzer, probability cone, and strategy scanner
- Free access with no platform fees for E*TRADE account holders
Cons
- Web-based only with no native desktop app for offline use
- Steep learning curve for beginners due to dense interface
- Limited customization compared to dedicated platforms like thinkorswim
Best For
Active day traders and options enthusiasts who need advanced analysis tools without extra costs.
Pricing
Free for E*TRADE brokerage customers; $0 commissions for online stock/ETF trades, $0.65/contract for options.
NinjaTrader
specializedAdvanced platform for order flow analysis, automated trading, and charting across stocks, futures, and forex.
NinjaScript, a C#-based language for building fully custom indicators, strategies, and trading apps
NinjaTrader is a robust trading platform primarily designed for futures, forex, and stock traders, offering advanced charting, technical analysis, and automated trading tools. It excels in backtesting strategies, market replay, and order flow analysis through its NinjaScript programming language, which allows users to create custom indicators and automated systems. The platform supports live trading via integrated brokers and provides a free version for simulation and advanced charting.
Pros
- Powerful NinjaScript for custom indicators and automated strategies
- Excellent backtesting, simulation, and order flow tools
- Free advanced platform for charting and practice trading
Cons
- Steep learning curve and complex interface for beginners
- Stock trading features are secondary to futures focus
- Live trading requires separate brokerage fees and setup
Best For
Experienced active traders and developers seeking customizable tools for technical analysis and algorithmic trading in stocks, futures, and forex.
Pricing
Free to download and use for simulation/charting; lifetime license $1,099 or $225/year; live trading commissions via brokers (e.g., $0.09-$0.59 per futures contract).
Webull Desktop
specializedCommission-free desktop app featuring extended-hours trading, 50+ technical indicators, and customizable layouts for stock investors.
Customizable multi-chart layouts with advanced technical analysis tools rivaling professional platforms
Webull Desktop is a robust trading platform from webull.com that enables commission-free trading of stocks, ETFs, options, futures, and cryptocurrencies with real-time data and advanced analytics. It offers customizable multi-monitor layouts, over 60 technical indicators, Level 2 quotes, and a paper trading simulator for strategy testing. Designed for active traders, it supports extended-hours trading and portfolio analysis tools.
Pros
- Commission-free trading across stocks, options, and crypto
- Advanced charting with 60+ indicators and multi-timeframe views
- Paper trading simulator for risk-free practice
Cons
- Limited third-party research and news integration
- Customer support can be slow outside business hours
- No mutual funds or bonds trading
Best For
Active day traders and technical analysts seeking professional-grade tools without trading commissions.
Pricing
Commission-free for stocks, ETFs, options, and crypto; margin rates from 5.49%; no account minimums or inactivity fees.
DAS Trader
specializedHigh-speed platform optimized for day trading stocks with Level II data, hotkeys, and ultra-fast order routing.
Advanced hotkey system allowing one-click order entry and modifications for ultra-fast trading
DAS Trader is a professional direct-access trading platform tailored for active day traders, offering advanced Level 2 quotes, time & sales data, and customizable charting tools. It supports high-speed order execution through hotkeys and multiple broker integrations, making it ideal for high-volume stock and options trading. The platform emphasizes speed and customization over flashy visuals, with robust tools for technical analysis and market monitoring.
Pros
- Highly customizable layouts and hotkeys for rapid order execution
- Superior Level 2 data and time & sales for precise market depth
- Reliable performance during high-volatility sessions
Cons
- Steep learning curve for beginners due to complex interface
- Dated user interface lacking modern aesthetics
- Additional data and exchange fees increase overall costs
Best For
Experienced day traders seeking fast execution and deep customization for high-frequency stock trading.
Pricing
DAS Trader Pro: $125/month or $100/month annually; requires separate broker account with data fees ($10-100+/month).
Sierra Chart
specializedHigh-performance charting and trading platform with extensive technical studies, historical replay, and custom development support.
ACSIL (Advanced Custom Study Interface and Language) for building fully custom indicators, studies, and automated trading systems directly within the platform
Sierra Chart is a high-performance professional trading platform specializing in advanced charting, technical analysis, and automated trading for stocks, futures, forex, and cryptocurrencies. It supports over 50 data feeds and dozens of brokers, offering unparalleled customization through its ACSIL programming interface for creating custom studies and strategies. Ideal for power users, it delivers low-latency execution and extensive historical data replay capabilities.
Pros
- Exceptional customization with ACSIL for custom indicators and automated trading systems
- Lightning-fast performance and support for high-frequency trading with minimal latency
- Broad compatibility with data feeds, brokers, and markets including stocks
Cons
- Steep learning curve requiring significant time to master
- Outdated graphical user interface that feels clunky compared to modern platforms
- Requires separate subscriptions for data feeds, adding to costs
Best For
Experienced day traders and developers seeking maximum customization and performance in stock and futures trading.
Pricing
Monthly plans from $26 (Basic) to $56 (Advanced Package 5); lifetime licenses start at $500 with discounts for annual prepayments.
Conclusion
While all reviewed tools offer distinct advantages, thinkorswim emerges as the top choice, combining professional-grade features like advanced charting, real-time scanning, and paper trading to cater to active traders. TradingView impresses with its web-based accessibility and social technical analysis tools, making it a strong pick for those prioritizing flexibility, while Trader Workstation (TWS) excels with high customization and global market support, ideal for sophisticated users. Each tool serves unique needs, but thinkorswim stands above in overall performance.
Start your trading journey with thinkorswim to experience its comprehensive professional tools and gain an edge in the market.
Tools Reviewed
All tools were independently evaluated for this comparison