MetaStock Review 2023: Charting, Backtesting & Xenith Tested (2024)

MetaStock has been a leading provider of technical analysis tools for traders since 1982. Founded by Steve Achelis, the platform has been consistently recognized for its innovative and powerful features.

With over 300 charts and indicators for various asset classes and real-time news delivery, MetaStock uses Refinitiv and Xenith to provide traders with the tools they need to make informed buy and sell calls.

In this MetaStock review, we’ll take a comprehensive look at what sets this platform apart from the rest and whether it can help simplify your trading decisions. So, whether you’re a seasoned trader or just starting out, read on to find out why MetaStock might be a valuable addition to your trading toolkit.

What Is MetaStock?

MetaStock is a technical analysis and charting service that offers over 300 types of charts and indicators to traders. It provides end-of-day exchange data with MetaStock D/C and real-time intraday Refinitiv data with MetaStock R/T.

The platform also features the Xenith add-on for global real-time news and fundamental financial screening. MetaStock has powerful backtesting and forecasting capabilities, and it offers charting for stocks, ETFs, indices, bonds, and currencies globally.

Designed specifically for traders who conduct their analysis after the markets close, MetaStock is an ideal platform for experienced, active traders as well as those who are just learning the ropes. The service comes equipped with many pre-built trading solutions that are easy to use and highly reliable.

MetaStock offers customization options that allow traders to tailor these solutions to their individual trading styles. It is a versatile platform that offers tools for trading stocks, options, mutual funds, futures, commodities, FOREX, bonds, and indices.

MetaStock Features

MetaStock offers a variety of features to help traders make informed decisions and achieve success. Some of the key features of MetaStock include access to six popular charting styles, including bars, candlesticks, and Heikin-Ashi, among others. MetaStock provides access to over 150 technical indicators to aid traders in identifying the right time to enter and exit their trades.

One of the most powerful tools offered by MetaStock is its Expert Advisor feature, which provides trading signals, trends, and commentary on trading conditions. MetaStock also offers scanning and screening capabilities through its Explorer feature, which includes over 250 presets to help traders isolate stocks based on specific chart patterns, moving averages, and other technical analysis strategies.

MetaStock’s most popular feature might be it’s backtesting feature, known as the System Tester. This allows traders to simulate trading scenarios and gain insight into how their trading plan may have performed in various market conditions.

MetaStock Pricing

MetaStock offers a range of pricing options to suit different traders’ needs. Traders can choose from both subscription and one-time fee plans, giving them flexibility in their payment options.

There are two main subscription options: MetaStock Real Time and MetaStock Daily Charts. MetaStock Real Time is designed for real-time market analysis and includes real-time charting and analysis software. This subscription costs between $99 to $300 per month, depending on the options and add-ons you choose.

MetaStock Daily Charts Subscription is designed for end-of-day traders and is powered by Reuters. This option costs either $24.94 per month or a one-time payment of $449.

MetaStock offers a variety of add-ons that can be purchased and/or subscribed to, providing traders with even more tools to aid in their analysis.Traders can take advantage of a 30-day free trial of the software before committing to a subscription or one-time fee.

MetaStock Review: The Pros & Cons

Like everything in this world, MetaStock has its own unique pros & cons. Let’s have a look.

Pros

• Great forecasting and backtesting tool
• Reliable, time-tested, customer support
• Over 80 fully customizable chart templates

Cons

• No broker integration
• Mac users have reported problems
• Outdated website design

MetaStock Alternatives

If you are looking for a market research tool that integrates into your brokerage, MetaStock is not your answer. Fortunately, there are other tools available that do connect to your brokerage. One of them is Stock Rover.

Stock Rover is a powerful stock screener and research tool that can provide investors the in-depth metrics they need to choose winning stocks. They offer a variety of subscription levels that should fit an investor. If you want to learn more about them, read this Stock Rover Review.

Is MetaStock Right For Me?

When it comes to deciding whether MetaStock is right for you, it’s important to consider your trading goals and experience level. If you’re an experienced trader looking for a powerful technical analysis platform with advanced backtesting and forecasting capabilities, then MetaStock may be the perfect fit for you. With its vast library of indicators and customizable chart templates, MetaStock is well-suited for traders who want to take a more sophisticated approach to their trading.

If you’re a beginner trader or looking for a more user-friendly platform, you may want to consider other options. While MetaStock offers solid customer support, it may not provide enough resources for those just starting out. Additionally, the outdated interface may not appeal to everyone.

Overall, if you’re interested in exploring MetaStock, it’s worth taking advantage of the free trial to see if the platform aligns with your trading needs. So, if you’re ready to take your trading to the next level, click here to give MetaStock a try and see if it’s the right fit for you.