Metastock Review: The first thing we can tell you about this company is its consistency. They’ve stood the test of time. It all began in 1982 when Steve Achelis realized the vast potential of using a PC to analyze stocks. Reminds me of another Steve (Jobs!). As an active trader, he developed and marketed MetaStock, which began winning awards. Subsequently, the company has grown to become a leader in the development of trading software. The reason is clear – the platform does a lot in one package.
Metastock Trader is a good service that offers a vast news feed service in addition to its state-of-the-art software. Talking about software, they offer one of the largest selections of software options and features that I’ve seen. They’re equipped to meet the needs of every type of trader, from beginners and financial advisers to brokers. You can trade stocks, commodities, futures, Forex, bonds, mutual funds, and indices.
Real-time and End-of-day traders’ needs are met. The charting software comes in two main versions: real-time and ‘end of the day.’ In addition, the company offers data packages, add-ons, and training.
MetaStock comes with all the bells and whistles. You get a wide array of chart types, over 275 indicators, and multiple drawing tools. The scanning possibilities with the Explorer tool are virtually limitless due to the sheer amount of data available for filtering. They thought of everything with this platform, and it doesn’t disappoint.
In addition, they offer 18-line studies, watch lists, automated alerts, and comprehensive news feeds. Not only does MetaStock’s System Tester provide powerful backtesting capabilities, but with the Forecaster, you can do forecasting. This is a HUGE feature. And one that I have not seen elsewhere in my travels. Stock price forecasting is essential to a trader’s edge. Without the ability to forecast a trade, would anyone besides gamblers trade? Probably not; we’d invest and let things compound. (boring, but it works!)
MetaStock R/T (Real Time)
This version is for you if you’re a day trader or require intra-day data. The software lets you execute your trades in real time throughout the trading day. Furthermore, state-of-the-art analysis tools make a powerful combination when used in tandem with their streaming data service. The real-time data is FAST thanks to a quality data feed with no delays. More on that below.
MetaStock D/C (End of Day)
The best traders don’t stop working after the markets close. They continue to run analyses and plan their upcoming strategies. Therefore, MetaStock offers an end-of-day version designed for swing and position traders. Note that this version cannot be used for real-time trading, but it’s a great analytic tool. For swing trading, this is the one you want!
Data
This MetaStock review shows that data is sold separately in two different versions. Both versions of Refinitiv data integrate seamlessly with their intended charting platforms.
Refinitiv XENITH for MetaStock R/T provides real-time data, news, analytics, fundamentals, and economic reporting. Also, the streaming data is available in any time frame, like tick, intraday, daily, weekly, and more. Furthermore, I want to point out that the news feeds are unparalleled, placing a wealth of information at your fingertips.
Refinitiv DataLink for MetaStock D/C offers data from around the world, and historical data is automatically included. The data history for North America starts in 1980 for equities, mutual funds, and indices and goes back even further for futures.
Additionally, international data is provided going back at least five years. There’s no restriction on the number of symbols users can download, and symbols are easily searchable.
Broker Hooks and Exchanges
Metastock might be able to hook into your broker! It depends on which you are using, but Interactive Brokers, for example, can interface with your Metastock platform. This is perfect for placing trades seamlessly and easily while using the software to scout out your soon-to-be position. Also, Metastock works just above every exchange on the planet! Look at the list for yourself and check if your country’s exchange is supported.
MetaStock offers 49 third-party addons, enabling even more advanced analysis capabilities. Leading experts in trading created these plug-ins so that you could take advantage of their strategies.
For instance, many addons provide buy and sell signals or may include custom indicators. It depends on the particular addon you choose. The Bullish Bears are planning on developing a custom addon in the future!
Metastock Trader Pricing Review
- MetaStock R/T goes for $100.00 /mo, and you will need a Xenith subscription or can be owned for $1395.00 with a separate Xenith subscription.
- Meanwhile, MetaStock D/C goes for $69 /mo., $745 /yr., or can be owned for $499.
- Currently, a free one-month trial is available for any Metastock product.
As of this writing, each platform has three pricing options: monthly subscription, annual subscription, or buy it outright. The software works on PCs, but many ask if MetaStock exists for Macs. The answer is there’s no official Mac version. However, many users have found they can use it with few issues on the newer Macs with the Intel processor.
They claim they get the best results by using an application called Boot Camp. However, there are no guarantees that MetaStock will work flawlessly on the Mac.
Final Thoughts: Metastock Review
Of course, MetaStock is not without competition. MetaTrader, eSignal, NinjaTrader, MultiCharts, TradingView, and TC2000 are among the more known alternatives. All of them are good programs. MetaStock may be all you need if you’re looking for software that can scan, analyze, test results, and even forecast.
However, we always recommend that you try first, and the good news is that you can do just that with the MetaStock 30-day trial. Scanning for stocks to trade and planning your trades are crucial steps if you want to trade like a pro.
MetaStock may help you make better trading decisions. However, to truly become an expert, you’ll need training. You’ll need mentors. You’ll need practice.
Frequently Asked Questions
Investors cannot purchase shares of MetaStock because the company is privately held.
MetaStock is a charting tool that allows traders to see a stocks chart. It allows them to track a companies technicals, map out support and resistance levels, and determine entry and exit levels.
MetaStock Subscriptions
- MS Datalink All Regions Subscription - $1,369 /yr $127 /mo
- Americas and Asia/Pacific Subscription - $1,059 /yr $98 /mo
- Americas/Europe/ME/Africa Subscription - $1,059 /yr $98 /mo
- Asia/Pacific Subscription - $635 /yr $59 /mo
- Europe/ME/Africa & Asia/Pacific Subscription - $950 /yr $88 /mo
- Europe/Middle East/Africa Subscription - $635 /yr $59 /mo
- North/South America Subscription Package - $745 /yr $69 /mo
Thomson Reuters was the owner of MetaStock until Innovative Market Analysis purchased them on June 14, 2013.
MetaStock is not a broker. People use their charting software to trade stocks, options, futures, and forex.
