Thanks to specialized stock trading software and other industry-specific applications, Los Angeles RIAs can successfully operate independently of traditional forums such as investment firms and brokerage houses.
Below is an overview of three of the best stock trading software programs for RIAs.
They give active traders a market edge, and all features and technology built into each platform are intend to accomplish a single goal: give RIAs and other traders state-of-the-art tools for taking advantage of market opportunities.
Lightspeed Trader is a favored solution for day traders. As a company, Lightspeed continues to invest in leading-edge training technologies to deliver faster executions, real-time quotes and solidly established market data. The platform is a reliable and robust system that day traders of all experience levels can master without difficulty.
- Layouts and rules that can easily be customized to fit the individual’s trading style
- Advanced options trading such as credit and debit spreads, butterflies, straddles, and strangles
- Multi-threading and multi-core processing for added speed
- Integrated charts powered directly by the ticker plant, eliminating delays between market prints and chart updates
- Innovative scanners and filters
- Low latency executions
- Order routing destinations
- Ticket alert
One of the most popular online stock trading platforms, eSignal provides single-source access to real-time stock quotes, market prices, key trading data, news, and other indicators that support best decisions. It also connects to over 50 broker-dealers for trade execution.
- Reliable and real-time stock prices and quotes
- Alert ticker to alert RIAs of new opportunities
- Flexible stock charts
- Time frames that are easy to customize
- Stock chart trading with leading-edge functionality
One of eSignal’s most powerful resources is the ability to identify premium trading opportunities using prebuilt scans that search U.S. and Canadian stock, EFT and index market.
TradeStation gives Los Angeles RIAs a valuable combination of advanced analysis and idea generation tools, executes orders at rapid speed levels, and can be both customized and extended to meet user needs.
Those new to the TradeStation platform benefit have quick access to technical support to improve the user experience.
- Coverage of all major asset classes: stocks, options, forex, and futures
- Low and flexible commission rates
- Intuitive market scanning and pro-quality analysis tools
- Comprehensive market data that makes back-testing and automation easy
- Direct-access platform for lightning-fast execution
Like everything else, technology will continue to progress, and Los Angeles RIAs will be among those who benefit from its advances. Bigger advisors can take advantage of customized solutions that match their specific business needs while smaller RIAs always have access to off-the-shelf systems that are standardized yet highly effective.
Do you use any stock trading software programs? If so, which ones do you recommend? Let us know your thoughts in the Comments box below.
And to follow-through on the tips introduced in this short article, be sure to download your free guide, Investing in High Net Worth Clients: The LA Investment Advisor's Guide to Using Technology to Manage and Grow Your Firm.