Any investment has a risk factor associated with it. However, when you invest in stocks, bonds, REITs, mutual funds or ETFs, you have the ability to reduce your risk by becoming more acclimated with the investment. There are various ways to become more educated on the investment you plan on making, and one of the most common options is to use investment research software.
Investment research management software comes in many different forms, and some software is superior to others. We’ve compiled a short list of the best investment research softwares below.
Quicklook: Best Investment Research Software Options
- AlphaSense – Best AI Research Software
- Morningstar – Overall Best Option
- Trading View – Best for Technical Analysis
- TradeStation – Best All-In-One Software
- Bloomberg Terminal – Best for Professionals
- Sentieo – Best for Competitor Insight
- Motley Fool Stock Advisor – Best for Stock Research Software
Table of Contents
- Best Investment Research Software Options
- What Is Investment Research Software?
- What Makes a Good Investment Research Software?
- Another Tool in Your Investor Toolkit
7 Best Investment Research Software Options
Let’s begin by diving into our list of top recommendations!
AlphaSense (Best AI Research Software)
AlphaSense is now used by over 1,500 financial institutions worldwide. This artificial intelligence backed company allows financial firms to search massive amounts of data and surface the most relevant and important information. This company was founded in 2007 and has been providing accurate and meaningful financial information since its birth.
- The data is neatly displayed and organized well for a easier user experience
- Provides equity reports featuring hard to find data
- Customizable options and intuitive designs
- The data is displayed neatly and is simple to use
- The algorithm scans millions of documents in a short period of time
- In depth coverage on a wide range of companies
- This is not for individual use and the pricing is not displayed
- The vast coverage of research they display can be overwhelming at times
Pricing: The pricing is not displayed on their site. You must request a pricing quote from their sales team.
Morningstar (Overall Best Option)
Morningstar is a well known and respected investment research software company. This company was founded in 1984, and has been around for nearly 40 years! From individual investors to large corporations, plenty of people rely on Morningstar for their investment research management software.
Standout Features: They have a free option!
- There are numerous membership tiers, and there is a free tier!
- You can access quite a bit of financial information and reports with just a few mouse clicks
- The company has been around for nearly 40 years, and has a strong and well respected reputation
- Their website can feel like information overload
- To get access to the deep financial information you may be searching for, you’ll need to pay
Pricing: There are two common membership tiers, $0/month or $199/month.
Trading View (Best for Technical Analysis)
Trading View allows you to layer in technical analysis directly on their website, and will also provide you with meaningful news and financial information regarding a specific company or market.
Standout Features: Trading View’s charts and technical analysis platform is its most sought after feature.
- The software is rather inexpensive depending on what tier you choose
- The charting software is world class
- You can create custom watchlists and scanners
- If you are a beginner and not well acclimated with technical analysis, this software may feel overwhelming.
Pricing: TradingView offers numerous pricing levels, from $14.95/month to $59.95/month.
TradeStation (Best All-In-One Software)
TradeStation was founded in 1982 and has grown to be a very common brokerage firm. Not only does TradeStation serve as a brokerage, they also provide investment research software and technology.
Standout Features: Do research and execute trades all under one platform!
- In the past, TradeStation was only open to professional brokers and money managers however now they have provided an opportunity for everyday active traders to access their professional level software
- The company has commission free trading options
- There is a wide range of investment options including cyrpto
- Customer service isn’t as well respected as other options
- You cannot trade forex
Pricing: It’s free to set up an account with TradeStation, but various trades/investments will cost you money.
Sign up with TradeStation here (Free stock trading – intuitive stock trading tools. Cash bonus for new accounts (conditions apply))
Bloomberg Terminal (Best for Professionals)
The Bloomberg Terminal is the best investment research software for professionals. Major banks and investing institutions will use this software to analyze their portfolio, and identify future trades.
Standout Features: The speed, accuracy and layout of the Bloomberg Terminal has to be its best feature.
- The amount of securities you can analyze is endless
- The information that’s provided, and the speed in which that information is returned, is a second to none
- This software is not cheap. As a retail or individual investor, you will likely not be using this software
Pricing: The pricing for this software is roughly $24,000 per year.
Sentieo (Best for Competitor Insight)
Sentieo is a newer software that came to market in 2012. This software is great for getting insight into another company. Private equity firms, investment firms, and companies looking to learn more about their competition could all benefit from Sentieo.
Standout Features: The standout feature has to be their 3 step approach; document research, market and alternative data gathering, and the analytics and modeling approach.
- You can gain competitor insight easily
- You can analyze a great deal of information quickly through their “Notebook” and research management systems
- Boolean search option is available for more advanced searches
- This isn’t great software for the individual investor looking to learn more about stocks
- Some users complain about missing or a lack of data in some areas
Pricing: This software will cost you $500 – $1,000/month.
Motley Fool Stock Advisor (Best for Stock Research Software)
The stock advisor from Motley Fool is an excellent choice for stock research software. For the last 18+ years, the Motley Fool’s Stock Advisor has consistently generated a greater return than the S&P 500. Nonetheless, they have been a well respected and accredited research software for many years.
Standout Features: The ease of use, and the continuous updates on market insight and stock picks are certainly its best standout feature.
- This is great stock research software for the individual investor
- Obtain two new stock picks each month
- There are a lot of community and investing research opportunities within the Motley Fool
- You cannot act on every single ‘hot’ stock. What stocks work for some investors may not be appropriate for your risk tolerance.
Pricing: This will cost you $199/year.
What Is Investment Research Software?
What exactly is investment research software? Simply put, investment research software is software that can be used to give you a better understanding of a specific investment.
For example, if you were interested in investing in a particular stock, an investment research software would give you all the relevant and important information on that stock. There is investment research software for bonds, ETFs, mutual funds, REITS, and stocks.
Accessing this software isn’t challenging, but understanding the information given might be a little harder. Consider taking an investment course before diving in.
What Makes a Good Investment Research Software?
A good investment research software is one that fits your needs. If you’re interested in investing in stocks, you’ll want to use a stock research software.
If you want to invest in real estate, you’ll want to use programs and software catered around that. With that being said, all investment research software should have the following characteristics:
Easy to Use
First and foremost, the investment research software should be easy to use. If something is overly complex, there will be obvious deterrents for not wanting to use it.
Finding software that you can easily navigated is key!
Real-Time Access to Data and News
In addition to being easy to use, the investment research software needs to give you real-time access to data and news. In the investment world information can change rapidly.
You want to be armed with the most accurate, and up-to-date information before making an investment decision.
Provides You Tools to Analyze Financial Data on Your Own
Last but not least, the investment research software should provide you with tools to analyze the data. When investing, you want to draw conclusions on your own instead of following the masses.
You’ll need the tools and software to do just that.
Another Tool in Your Investor Toolkit
Understanding what investment research software is right for you is certainly a complex question. There are so many choices to choose from, some of which have a large fee.
However, investment research software is not the only way to get solid investment advice. Working with a financial advisor is another route you can take, and this route is often the most efficient.
Financial advisors make their living making sense of all the market noise, and helping their clients reach their financial goals. A financial advisor will work with you on establishing goals and budgets, and will help isolate which investments belong in your portfolio.
Ultimately, this takes the hard work of analyzing investments off your plate!
Frequently Asked Questions
The best stock research software is entirely contingent on your needs. If you are an institution, you’ll likely use Bloomberg’s terminal, whereas an individual will be better off using something like Motley Fool’s Stock Advisor.
You can find investment research online through various financial and economic sites. Additionally, CNBC and Bloomberg television have continuous financial market coverage.
Investment research firms focus on analyzing specific industries and companies within an industry. They will provide an outlook on the future, which helps drive investing decisions for individuals and institutions.
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