If you're new to trading or have experience, you've likely faced this dilemma:
"There are countless trading tools available. Which ones should I use?"
Maybe you're considering paid products but wonder: "Are there free alternatives?"
The answer is yes! This guide covers the best free online trading tools across various categories:
Key Trading Tool Categories
- 📊 Charting Platforms
- 🔍 Stock Scanners
- ⏱️ Backtesting Tools
- 🗺️ Heat Maps
- 📅 Forex & Earnings Calendars
- 📰 Financial News Sources
- 🧮 Position Sizing Calculators
- 📝 Trading Journals
- 💹 Forex-Specific Tools
1. Charting Platforms
Visualizing market data is essential. Top free options:
- Covers forex, stocks, futures, and indices.
- Custom scripting, 100+ indicators, and social sharing.
- Ideal for forex traders with low-lag execution.
- Best for swing/position trading (not scalping).
- Pioneering platform with Renko, Ichimoku, and Point & Figure charts.
2. Stock Scanners
Filter stocks by technical/fundamental criteria:
- Finviz: Sleek interface with dividend, earnings growth, and RSI filters.
- Zacks: Focused on fundamentals like P/E ratios and revenue trends.
👉 ASX Stock Screener (Australian markets)
3. Backtesting Tools
Test strategies historically:
| Tool | Best For |
|------|----------|
| Profitspi | Beginners (no coding) |
| QuantConnect | Advanced users (Python/C#) |
4. Heat Maps
Spot market movers:
- Finviz: Global equities by sector.
- Myfxbook: Forex volatility rankings.
FAQ Section
Q: Are these tools really free?
A: Most offer free tiers with premium upgrades (e.g., TradingView Pro).
Q: Which scanner is best for dividends?
A: Finviz’s “Dividend Yield” filter.
Q: How do I track trading performance?
A: Use MyFxBook (auto-sync) or TradeBench (stocks/ETFs).
Pro Tip
Avoid tool overload! Focus on 3–5 tools matching your strategy (e.g., day traders need scanners + calendars).
Got a favorite tool? Share it below!
### SEO Keywords Integrated:
- Free trading tools
- Stock scanners
- Forex calendars
- Backtesting software