TraderSync is an online trading journal designed to help active traders become more successful whether they’re day trading, swing trading, momentum trading, or have a mixed strategy.
The journal automatically tracks trades across multiple financial markets and is compatible with a long list of brokers. It’s easy to improve your trading strategies with TraderSync thanks to its proprietary artificial intelligence-assisted analysis tools coupled with an easy-to-use interface.
TraderSync’s most significant disadvantage is its pricing. Whereas a basic free plan is the norm among its competitors, TraderSync doesn’t offer any free plans. After the seven-day free trial, expect to pay between $29.95 per month and $79.95 per month or between $312 and $834 annually.
TraderSync Plans and Pricing
TraderSync offers three paid membership plans. Each has powerful trade journaling and analysis capabilities, with functionality and flexibility increasing with price.
The Pro plan is the most basic plan the company offers. It costs either $29.95 per month or $312 per year. You’ll save 13.19% by paying for the full year at once.
Pro plan features include:
- Trading Journal. The journal tracks entries, exits, setups, and trading mistakes automatically. That makes it easy to review your performance and find areas of your strategy that could be improved.
- Multiple Portfolio Tracking. TraderSync can journal an unlimited number of portfolios simultaneously. It’s ideal if you trade on multiple trading platforms with multiple brokers.
- Commission & Fee Tracking. The journal tracks the commissions and fees associated with each trade, giving you an overall view of how much you’re paying.
- Stop-Loss Tracking. The journal tracks your stop-loss orders and whether they were triggered. It also gives you tips on how to improve your risk management strategy. However, there is one problem with the tool. You have to manually input stop-loss data unless you pay for the most expensive membership plan — Elite.
The Premium plan costs $49.95 per month or $521.04 per year. You’ll save 13.07% when you pay for the full year at once with the annual plan.
The Premium plan comes with all features of the Pro plan, plus:
- Reports. At this price point, you have access to holding, sector, market cap, and simulator reports.
- Extended Session Chart Data. You can easily analyze trends from pre-market and post-market chart data.
- Automatic Charts. Automatic charts make it easy to automatically chart your entry, exit, target, and stop-loss to gain a visual representation of your entire trade plan.
- Automatic Commission & Fee Settings. You can set commissions and fees for a specific broker. When you import trades from that broker, TraderSync automatically logs the correct fees for each trade. At the Pro level, you must manually log trade fees.
The Elite plan is the highest-level plan offered by TraderSync. It costs $79.95 per month or $834 per year. You’ll save 13.07% when you pay for the entire year up front with the annual plan.
Elite has all the features offered to Pro and Premium members, plus:
- Automatic Target & Stop-Loss Tracking. Elite lets you set specific parameters for your targets and stop losses. TraderSync then automatically adds these targets to each trade. For example, you can set your target profit goal to 10% and stop-loss to 1%, and TraderSync will apply this data to all trades. With Pro and Premium, you must manually input target and stop-loss data for each trade.
- Artificial Intelligence. TraderSync’s proprietary artificial intelligence combs through your trading journal, pinpointing trends in your trading style and opportunities to improve your strategy.
- Automatic Spread Detection. TraderSync automatically detects and logs spreads on options trades, making it easier to understand your costs.
Additional Features of TraderSync
These aren’t the only features TraderSync has to offer. The platform’s vast array of supported brokers and platforms, intuitive trading journal, strategy evaluator, and import capabilities all deserve special mention.
Supported Brokers & Platforms
TraderSync supports over 100 different brokers and platform. The most popular options include:
- TD Ameritrade
While the company doesn’t support crypto trades at the moment, we found an interesting page on their website with the URL slug “/supported-broker-test/” that suggests cryptocurrency support is on its way. These cryptocurrency brokers may soon be available here:
- Currency Com
- Delta Exchange
- Future Kucoin
Intuitive Trading Journal
TraderSync’s trading journal is central to the platform. Its capabilities include:
- Automatic Imports. Automatically import your trade data, saving significant time when tracking trading performance.
- Screenshots & Notes. You can also add screenshots and notes to the automatic data that’s tracked. This will help you visualize trade setups, entry prices, targets, and exit points when you review your performance.
- Easily See Where You Can Make Improvements. The platform features color-coded charts, graphs, and tables, making it easy to digest the trading data and pinpoint trends and opportunities to adjust your strategy. Moreover, Elite users have access to analysis tools driven by the company’s AI that’s likely to outline opportunities the average trader would miss.
TraderSync’s mobile app is available on iOS and Android devices. The mobile app comes with all the features found in the desktop app, making it easy to track and assess your trading performance on the go.
Trading Strategy Evaluator & Simulator
TraderSync’s artificial intelligence learns your trading behavior over time. It comes in handy when you decide to try out a new trading strategy.
TraderSync’s AI is designed to simulate different trading scenarios automatically using the trading strategy parameters you outline along with your unique trading patterns. When you run these simulations, you get clear data outlining whether the trading plan will be a success or not. You also get pointers on how to improve your plan.
Import Years of Trading History
If you’re just getting your journal started, you might be worried about leaving out years of trading history.
Fortunately, that’s not a concern with TraderSync. As long as your broker still has the trading data, you can import it into your TraderSync trading journal, even if it stretches back many years.
Advantages of TraderSync
There are several advantages to TraderSync’s service. Some of the most important include:
- Long List of Supported Brokers & Platforms. The program supports 103 different brokers and platforms, including some of the most popular options like TD Ameritrade, Ally, and Fidelity among several others. While the company doesn’t support crypto trades at the moment, an interesting page on their website with the URL slug “/supported-broker-test/” suggests cryptocurrency support is on its way.
- User-Friendly Interface. TraderSync comes with quite a few features, so it may seem overwhelming at first. However, as you dive in, you’ll realize the platform is very user-friendly. It’s easy to find the reports and analysis tools you’re looking for, and the data is color-coded and simple to understand.
- Educational Materials. TraderSync takes trader education seriously and features a wide range of educational materials to help you along the way. As a user, you’ll have access to a library of video tutorials that explain how to use the tools available on the platform and what you can do to improve your trading strategy and performance.
- 7-Day Free Trial. While there are no free plans available through TraderSync, the platform does offer a 7-day free trial. That ensures you’re able to try it before you buy it.
Disadvantages of TraderSync
There are several reasons to consider signing up for TraderSync, but there are also a few disadvantages you should consider before diving in head first. The most significant downsides include:
- No Free Plan. The vast majority of trading journal solutions offer a free plan that comes with limited functionality. Some, like TradeBench, are completely free, offering no paid plans. Neither is the case for the TraderSync platform, a platform where there’s no free lunch.
- Price. Unless you’re willing to shell out a few hundred bucks for an annual subscription, which does lead to savings over the course of a year, the minimum you’ll pay for the service is $29.99 per month, and the highest tier service costs $79.95 per month. As a result, the service may be cost-prohibitive to beginner traders that are just getting their feet wet in the market.
- Customer Service Availability. The company doesn’t offer customer service over the phone, even to its highest-paying customers. And the online service desk is only available via email or chat and only from 9:00 a.m. to 5:00 p.m. Eastern Time. This limited support availability would be acceptable if the company offered free plans, but paying users deserve to have someone to talk to when they have a question.
- Automatic Isn’t So Automatic. you have to manually log quite a bit of data if you’re a Pro or Premium user. That includes target and stop-loss data for each trade — a cumbersome prospect if you’re a scalper who makes a significant number of trades over a short period of time. The Elite version of the journal makes it easy to automate the journaling process. But for $29.95 per month for the Pro plan or $49.95 per month for the Premium plan, you’d expect more automation capabilities.
How TraderSync Stacks Up
Edgewonk is one of TraderSync’s largest competitors. See the chart below to get an idea of how the two compare:
|Price||Pro: $24.95 per month or $312 per year Premium: $49.95 per month or $521.04 per yearElite: $79.95 per month or $834 per year||$169 per year|
|Cryptocurrency Trade Tracking||Evidence suggests cryptocurrency is coming soon||Cryptocurrency trade tracking is available|
|Supported Brokers & Platforms||103||16 total, two of which are in beta mode|
|Missed Trades Analysis||No||Yes|
|Trading Chart Screenshot Uploads||Any trading chart screenshot can be uploaded||Uploads are only available through TradingView|
Trading journals are important tools for beginners and experts alike. You’ll find trends and adjustments that can be made to help you become a better trader by simply tracking and reviewing your trading performance, making journals a key aspect of investment research.
TraderSync is one of the best trading journals on the market today thanks to an artificial intelligence that learns your trading behavior along with detailed trade analysis tools. However, the best features come in its pricey Elite plan, which can be cost-prohibitive for beginner traders.