It is no secret that having the right tool in both trading and investing is crucial, but with a sea of tools to choose from, how can you pick the best?
In comes FreeStockCharts. With a myriad of ways to use it, it has been in the game for quite some time and is what we are appraising in this Free Stock Charts Review.
It has since been integrated into TC2000, making it more robust and addressing its weaknesses at the same time.
But can it stand against its competitors, and will you benefit from using this tool?
Let us find out together in this Free Stock Charts Review!
Free Stock Charts Review: What is FreeStockCharts
FreeStockCharts is a stock charting software that was pioneered in 2008 and is now merged with TC2000 and offered by TC2000 Software Company.
TC2000 Software Company differs from TC2000 Brokerage, Inc. but is affiliated through common ownership.
The tool is still free but has a 15-minute delay which you can overcome by signing up for their Optional Data Feeds that are billed monthly.
It had a problem of only working with an antiquated browser that you can still use if you prefer, but the new downloadable version is trouble-free without the pesky plugin installation.
FreeStockCharts will definitely please the technical trader in you with over 80 stock chart indicators.
Helping you generate all kinds of charts based on a stock’s price movements. We for sure relished exploring all the tools that the free version has.
What we first noticed upon opening the tool is that it is lightweight, loads quickly, has a modern interface, and is not clunky at all.
This is a feature we appreciate since not all traders have that specialized computers for trading and maybe are still using basic ones.
You can generate per minute, hourly, daily, weekly, monthly, quarterly and yearly charting timeframe
Plus plot to your heart’s content using various technical drawing tools such as trend lines, crosshairs up to Fibonacci.
You can customize the chart properties according to your taste if you favor lines, bar, candle stick, area and heiken-aishi.
“Heikin–Ashi, also sometimes spelled Heiken–Ashi, means “average bar” in Japanese. The Heikin–Ashi technique can be used in conjunction with candlestick charts when trading securities to spot market trends and predict future prices. It’s useful for making candlestick charts more readable and trends easier to analyze.”from Investopedia
Free Stock Charts Review: Who Are The Owners of FreeStockCharts
FreeStockCharts under TC2000 is owned by Chris and Peter Worden of Worden Brothers Inc.
They created Worden Brothers Inc. in 1988 in Wilmington, North Carolina.
Starting with TeleChart, now rebranded as TC2000, the Worden Brothers are pioneers in the technical stock analysis software industry.
They have also branched into brokerage service with TC2000 Brokerage in 2010, a registered broker dealer and member of FINRA/SIPC.
You can connect TC2000 Software directly with TC2000 Brokerage if you subscribe with their brokerage service.
The features we are going to discuss are the ones available in the free version:
As mentioned, the charts are seamless, and the response time is swift. There is also a new function in called options charts that lets you plot bid/ask data or last – trade data.
This tool feels modern and a beginner would have an excellent time learning about the charting system which you can easily from lines, to bars and to candlesticks.
You can see everything in one panel and it is customizable, plus you can add how many charts per stock or per time frame.
FreeStockCharts has a ton of technical indicators which you can choose from, starting with the basic moving averages, up to the Ichimoku Cloud.
You can also plot indicators for indicators by selecting it in the add plot option.
The technical trader in you will definitely appreciate the lists of drawing tools available in the charting tool.
You can choose from crosshairs, trend lines, Fibonacci, Anchor, and you can select to save the indicator so it will be easier for you the next time you plot.
Searching for symbols is as easy as typing directly into the screen.
You do not need to manually search for it, instead the tool will rapidly bring up the ticker you typed in as easily as a few clicks.
Market Index Watch List
With this feature you can access dozens of market index watch lists including the SP-500, Nasdaq 100, High Cap 1000, NYSE, Biotechs, Gold & Silver, Airlines, Oil, Financials, TSX and more.
This is especially useful if you like to look at the market index to keep track of the market trend.
It even covers international market if in case you want to start trading international companies.
Whether you need to be reminded to come back and look at a chart again or you want to be notified when an indicator hits something, you can just set it and it is done.
This is useful if in case you are keeping track of particular symbol and or want to monitor the stocks in your portfolio.
Paper Trading Simulator
This feature lets you track your positions, pending orders and trades, which is helpful if you are still a newbie or you want to practice a new strategy.
This a fully functional trading simulator that gives you access to all stock & option strategies and is the same trading platform in TC2000 Brokerage but in a free simulated mode.
You can practice limit orders, bracket orders with profit targets & stops, OCA’s, multi-leg orders and more.
It lets you create unlimited paper accounts to test your ideas and strategies. There is no better way to learn without risking a penny of actual money.
You can multi-select symbols to batch them all into the same simulated order ticket then set their limit prices relative to the market.
You could place an order to buy all five or you could use an OCA group to only get one of the five.
For example, maybe you set high breakout prices and only want to buy the first stock to breakout. OCA stands for one-cancels-all.
This is beneficial if you want to cut time in looking for the symbols to trade by adding them in the trade baskets.
Built-In Option Chains
“An option chain, also known as an option matrix, is a listing of all available option contracts, both puts, and calls, for given security. It shows all puts, calls, strike prices, and pricing information for a single underlying asset within a given maturity period.”from Investopedia
With this feature you have access to over 100,000 option contracts for free.
This helps you narrow down chains by calls, puts, number of strikes and time to expiration.
The quick video below will help you how to an option chain.
Customization and Organization
This feature is the one that we liked best because a tool is only good when you know what a specific feature is for and how to properly utilize it.
With FreeStockCharts, you can customize and organize to make the workflow faster and easier for you.
It is really important to really know your software not just what are the indicators but how it actually work so that you can trade effectively.
How To Read Stock Charts
As a trader or an investor, it is important that you know how to read a stock chart accurately
Because if you don’t, you will probably trade based on guesses or emotions, and this is a disaster waiting to happen.
1. You must know the price and time axis of a stock. The horizontal axis depicts the time while the vertical axis is the price. These axes are the foundations of a stock chart.
2. Identify the trend line. This is the line that reflects stock’s rice and fall over a given period.
In line charts the trend is monitored by the last price of the stock, while with bar charts, you can get the trend by recording the highest and lowest prices and the closing price of a stock.
Candlesticks charts are done by reading the length of the shadows versus the length of the body as we have previously discussed in our Hammer Stock Pattern article.
Below is a video that clearly explains how you can read candlestick charts.
3. Spotting the trading volume, which signals the strength of a trend – be it a high trading volume up or down.
“It is a measure of the market’s activity and liquidity. Higher trading volumes are considered good because they mean more liquidity and better order execution.”
4. Spotting the support and resistance line. This is where a stock price can not get through and improbable to increase.
The peak is the resistance while the bottom is the support when it does not break the old low. If the trend breaks through the resistance, it is a breakout while the reverse is a breakdown.
The idea here is that if you are buying, you must do so in or very near the support line and sell before the trend line hits the resistance again.
How Can You Make Money With FreeStockCharts
The answer to that is as simple as daylight. Yes, may have a sharp brain but unfortunately it is not infallible.
Having a tool such as FreeStockCharts will greatly enhance your technical analysis and if you are beginner trader, you can begin studying the technical side of trading.
With the information you gathered in FreeStockCharts, you can then predict with technical analysis and charting where the trend might go and means a huge profit for you.
One thing we can guarantee is that every trader of all levels will find something they like about this tool.
What People Say About FreeStockCharts
“FreeStockCharts is well-suited for intra-day and swing traders that rely heavily on technical analysis. Intra-day traders will need to subscribe to the premium service and real-time data feeds. Swing traders and investors that don’t mind delayed-quotes and limited charting options can use the free version. As for experience level, this platform is good for all skill levels from beginner to experienced traders.”
These are reviews we found in Investimonials:
This review is strictly for the free version of FreeStockCharts.com. For $20/mo, you get a much more advanced platform, with many features pulled from TC2000.
When I’m on my work computer, either in the office or on the VPN, I am unable to access ThinkOrSwim. Unfortunately, TD Ameritrade’s website is very limited unless you use their Trade Architect platform. This creates a new challenge as Trade Architect not only requires a ton of bandwidth, but it is also Flash based. It’s virtually impossible to use and frequently crashes my browser.
I checked out BigCharts.com (Flash based), BarChart.com, StockCharts.com, FinViz, Trading View, and Yahoo Finance to see which is the best for my needs.
Since FreeStockCharts is Silverlight-based, you will not be able to use it with Chrome. On my Macbook using Safari, it runs like a dream. There is no lag at all when resizing the chart or indicator windows. It loads very fast and I love the tabbed view for looking at multiple stocks. You also have access to a ton of indicator, although you will have to change the default settings for some. For example, RSI defaults to 50 period, instead of the standard 14.
With the free version, you cannot create custom watch lists; although you can create a portfolio and even link to your TD Ameritrade account to monitor your portfolio. However, they do have a ton of prebuilt wish lists, like every S&P 500 stock or every Dow component. You can also have a scrolling ticker list running across the top of your screen.
Unfortunately, the firewall on my work computer blocks the site, so I can only play around with it on my Macbook at home.
On my work computer, Trading View seems to be the best solution for my needs; although I really love the simplicity of FreeStockCharts.
Bostonfields September 2015
Love it, you can’t beat free!
JSVaughn21 January 2014
Aside from its free which I totally love, it allows me to see charts of indexes, stocks , ETFs and movements in fine detail. It also has large number of indicators that can be applied and modified to fit my needs. Totally one of the best web charting platforms you could ever find.
SpiritualTrader72 October 2016
First of all, it is free web charting platforms so i automatically like it.
I actually love using the free version of FreeStockCharts.com
I read some reviews about it not working on chrome. I use Macbook and it runs perfectly.
Overall and in general I like stockcharts.com for long-term trades because it allows me to see the stock’s performance and movement in fine detail.
ElliotGray December 2015
Doesn’t fit my trading style since I can’t pull data for a lot of stocks.
Magilla August 2014
Love these charts! They are comfortable to the eye and have many different features. It’s a relative newcomer to the technical analysis and charting arena, yet it offers an impressive array of tools.
The site is unique in that it offers totally free streaming “real-time” charts of indexes, stocks, and ETFs, without exchange fees. It does this by providing real-time data from the BATS exchange. Any data that is less than 15 minutes old comes from BATS, while data older than 15 minutes are filled in using complete exchange data. It is worth noting that the “real-time” data being displayed on the charts may differ from what you would see elsewhere, especially for stocks that are not actively traded. Furthermore, you may choose to display volume activity either for trades placed with BATS only or using an approximate total volume.
For charting purposes, FreeStockCharts.com offers line, bar, and candlestick charts. You can plot charts on an intraday basis as well as on a daily, weekly, monthly, quarterly, and annual basis. The site also boasts one of the larger indicator libraries available online: There are over 80 technical indicators, all of which you can modify to your needs. You can also draw your own trendlines.
Registered users can create chart layouts and save them for future use. A layout consists of the underlying symbol and any desired indicators. Once you save a layout you can access your pre-configured charts from any computer.
There are also built-in watch lists covering indexes, industries, and ETFs. For example, you can click on the NASDAQ 100 Component Stock watch list or see all of the stocks that make up the PowerShares QQQ Trust ETF (QQQQ). Users can also create and save their own watch lists.
The site offers free technical screening, but only for stocks in the S&P 400 and 600 indexes as well as those in the Dow Jones industrial, transportation and utility averages. A gold subscription, which costs $29.99 a month, allows you to screen on U.S. and Canadian common and preferred stocks, Morningstar industry groups, and ETF families.
Finally, the site offers streaming real-time news items.
While free streaming real-time charts are an attractive feature, the impressive collection of technical indicators, watchlist, and real-time news are what make FreeStockCharts.com an Editor’s Choice.
HysideTrading April 2014
What We Like And Don’t About FreeStockCharts
It is free. That is an immense plus since who doesn’t love free stuff. Also, the platform is intuitive, which lends to beginners not feeling intimated by using it.
Technical traders will love it as it is full of technical indicators and drawing tools that you can filter down to help you in you be effective in your trading.
Additionally, the platform is itself reacts quickly and does not lag even if you have a junk PC and it is customizable to refine your workflow.
The one thing we didn’t like is that in order for you to get screeners and real time feed, you must pay the premium subscription.
Of course, you can’t have everything and we also understand that it is a business and they need to earn through their subscription.
What Are Alternatives To FreeStockCharts
The chief competitors of TC2000 FreeStockCharts are TradingView and Finviz.
The main difference with TradingView is that they gear their technical stock charts for the community, which lets you connect to other TradingView users.
TradingView also has a mobile version, making it more accessible for on-the-go traders.
We also made a simple tutorial on how you can use the technical tools in TradingView for you options trading!
With Finviz, it has a free stock screener that is very basic and has changed little. It also heat maps with S$P 500 index stocks which you can sort by industries and sectors.
FreeStockCharts is free but if you want the other features, you can choose between Silver, Gold, and Platinum plan.
FreeStockCharts Refund Policy
“30-Day Money-Back Guarantee: Enjoy all the benefits of membership for one month with absolutely no risk. Cancel at any time within the first 30 days after purchasing a data package for any reason and you’ll receive a prompt, 100%, no questions asked refund. Just call 1-800-776-4940. This offer is reserved for new users or accounts inactive for at least one year. Limit one per household per year.”as taken from TC2000 website
Pros and Cons
- Intuitive and quick platform
- Numerous charting tool indicators, technical drawing tools, and a paper trading simulator practice
- Endless customization and organization
- 15-minute delay
- Does not have a social factor
Final Thoughts: Can It Stand Against Its Competitors?
With this Free Stock Charts Review, we can safely say that TC2000 FreeStockCharts can undoubtedly stand against its competitors,
It has one of the best platform to around, and a beginner or a fine-tuned technical trader will absolutely find the tool useful.
The technical analysis is spot on and you can curate the tool to cater to your needs to make your trading efficient and effective so you can make that sweet, sweet honey.
Simply, the tool is working for you, not the other way around, and that is the way it should be.
The only snag is that it is not a real time feed and has a 15-minute delay, but if you do not mind it, then by all means, download this tool!
Thoughts? Comment them down below!
FreeStockCharts$9.99 vs $29.99 vs $89.99
Ease of Use9.8/10
- Intuitive and quick platform
- Numerous charting tool indicators, technical drawing tools, and a paper trading simulator to practice
- Endless customization and organization
- 15-minute delay
- Does not have a social factor