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This content is for informational purposes only and is not intended to provide financial advice.
What Is TrendSpider?
Founded in 2016, TrendSpider brands itself as a customizable platform that helps experienced investors mak the most out of their investments. Its primary goal is to automate repetitive tasks and simplify technical analysis so investors can spend more time finding new investing opportunities.
TrendSpider is headquartered in Chicago and has offices worldwide in countries like Russia, India, and Ukraine. Some of the best features include Market Scanner, which tracks assets across markets and industries; Smart Charting and Dynamic Watchlists, to keep track of assets in one place; and a very complete testing environment called Strategy Tester, which makes it easy for investors to try out their new strategies at no risk. Keep in mind that TrendSpider is for intermediate-to-advanced investors – beginners and new investors should steer clear.
For beginners, we recommend TradingView, a very intuitive and easy-to-use charting platform where you can learn the ropes. TradingView is also a decent choice for advanced investors – in this article, I quickly go over the pros and cons of each platform and make a clear recommendation based on the type of investor you are.
Without further ado, here’s my TrendSpider review.
Pros & Cons of TrendSpider
Pros
- Market Scanner (for US equities, forex, and crypto)
- Tracks 61,000+ assets across markets and industries
- Beautiful Smart Charts
- Set up Dynamic Alerts with multiple triggers
- Safe backtesting environment to test strategies
- 7-day free trial
- The app is available on Android and iOS
Cons
- You can’t trade directly from TrendSpider
- Requires a lot of investing experience
Features & Benefits Of TrendSpider
1) Market Scanner & Smart Charts
TrendSpider has a very extensive range of research tools. First and foremost is their Market Scanner; with this tool, you can research and gather market info from markets worldwide and set up automatic scans that update in real-time. You can also set up Dynamic Watchlists to keep track of your assets and use customizable alerts with various triggers.
If you find setting up Market Scans is too complex, TrendSpider has over 20 ready-to-use scans that you can start using immediately.
Scans can gather information from over 61,000 assets, including US equities (ETFs, stocks) listed on the NASDAQ and the NYSE, digital assets (including crypto), Forex, and more. Scans are fully compatible across markets and industries.
2) Raindrop Charts & Data Visualization
Having the relevant information is important – but displaying it in a way that is easy to understand and study can be the breaking point between spotting a trend and missing out on an opportunity.
TrendSpider is well known for its beautiful charts and easy-to-use web platform: It supports all the classic charts like Price Bars, Line Charts, and Hollow Candles. They also developed their own proprietary Raindrop Chart®, an improvement on traditional candlesticks charts that include one aspect often overlooked on charts: volume. With that information, you can take advantage of new patterns and spot trends early on. If this new charting tool interests you, we discuss this and other charts in this short TrendSpider Product Summary.
3) Set Up Dynamic Alerts
TrendSpider supports Dynamic Price Alerts. These alerts constantly monitor charts and price fluctuations across your investments. You can set up specific variables or triggers that notify you when a condition is met. This works exactly as if you were looking at real-time data looking for patterns: it uses visual cues and watches for bounces or breakouts, and sends the appropriate alert.
On top of adjusting the variables, you can adjust sensitivity and add a buffer zone around the tracking asset.
4) Strategy Tester
Similar to Test and Demo Environments on other investing platforms, TrendSpider has its own backtesting platform called Strategy Tester. It is ideal for experienced investors looking to polish their strategies, and TrendSpider allows users to use historical data from the last decades to test out how their strategies would perform in a real-life scenario.
To use the Strategy Tester, you don’t need any coding or programming experience – TrendSpider was built by traders for traders, so the platform is very intuitive, visual, and user-friendly. This tool is fully compatible with other TrendSpider services; you can set up scans and alerts and use any charting tools.
TrendSpider Fees
TrendSpider offers three plans: Premium, Elite, and Advanced. Yearly subscriptions are considerably more cost-effective than monthly subscriptions, and all three plans come with a 7-day free trial.
We recommend starting with the free trial and then upgrading to any of the yearly plans. In the next section, we go over the plans and which one is better suited for you.
Choosing Your TrendSpider Subscription
If you’re unsure which plan to pick, these are our recommendations.
- If you don’t need a backtesting environment, don’t need updated insight into securities data, and are okay with just 25 alerts – refreshed every 14 days – you should pick the Premium Subscription.
- If you would like to access real-time data of securities, including Analyst Ratings Data and Insider Trading, and an increased Market Scan limit (from 50 to 100) and alert limit (from 25 to 100), you should pick the Elite Subscription.
- If you want access to all the features included in the Elite Subscription but with almost double the limits for Market Scans, Alerts, Device sessions (from 4 to 6), and unlimited backtests, you should consider the Advanced Subscription.
Keep in mind that you can always upgrade to a more advanced plan later on, so it’s usually a good idea to start with the less expensive plans and work your way up. Also, keep in mind that there is a 7-day free trial – make sure to test the plan before committing to the subscription.
Check out this post where we go more in-depth about investing platforms and if TrendSpider is the best fit for you.
Sign-Up Process
Anyone can register and create a TrendSpider account, but the company mainly focuses on US citizens and US-based securities. There are no special requirements to create an account; all you need is your name, a valid phone number, and banking information to purchase a subscription.
To create an account, visit TrendSpider’s Page, click the Explore the Product button, and select a subscription. You will need to fill in some of your basic information and card number. The process is very quick and won’t take more than 2 minutes.
TrendSpider App Reviews
TrendSpider’s app has excellent reviews for both Android and iOS devices. On the App Store, it has an average rating of 4.4/5; on the Google Play Store, it has a rating of 4.2/5. Here’s what those users had to say about TrendSpider:
- “I’m a new user (few days) of this Technical Analysis Software, and I got to say it’s Phenomenal, to say the least, and these Raindrop Charts are so much more accurate than our traditional candlesticks.” – Cristopher A.
- “There will be differences from websites to apps. However, I think that the TrendSpider website is far superior in comparison to the app.” – Brody B.
- “ Simple to use and navigate. We all know TrendSpider is one of the best charting platforms. The Trendspider greatness has poured over into their new app.” – Bufallobilbo.
If you are not fully convinced if TrendSpider is for you after reading these reviews or would like to read more about an alternative product, we recommend checking out our review of a world-renowned stock screener and market research tool provider: Stock Rover.
Final Thoughts
TrendSpider is a great charting platform for experienced investors in the US. It is highly customizable, offers unique features, and is highly compatible with over 61,000 different assets, including securities and digital assets. As a whole, TrendSpider’s main goal was to simplify investing for everybody, and it accomplishes this by using artificial intelligence and very advanced charting tools, including its proprietary Raindrop Charts®. One big upside is that it doesn’t require programming experience – it markets itself as a ‘by traders, for traders’ investing platform and has over six years of experience in the market. All in all, I’m confident in recommending TrendSpider as one of the best platforms for US investors.
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