country flag
  1. Home
  2. Best Day Trading Software

Day Trading Alerts

Contributor Image
Written By
Royston Wild
Contributor Image
Written By
Royston Wild
Royston is an experienced investor and writer. His expertise includes stock recommendations through to commodities, forex, and macroeconomic news. Royston's background includes roles as a stocks and commodities reporter, and editor of forex coverage at Shares Magazine.
» Royston Wild Profile Page
Contributor Image
Edited By
James Barra
Contributor Image
Edited By
James Barra
James is an investment writer with a background in financial services. He has worked as a management consultant, where he delivered large-scale operational transformational programmes at some of Europe's biggest banks. James authors, edits and fact-checks content for a series of investing websites.
» James Barra Profile Page
Updated
Apr 1, 2024

Day trading alerts can be a powerful tool in helping to identify short-term trading opportunities and manage risk. For example, you could set an alert in your broker’s app to notify you when the price of Apple (AAPL) stock reaches a certain level, prompting a buy or sell action.

This guide will catalog the different types of trading alerts out there, explain how they can enhance a day trader’s returns, and discuss the key things to consider when choosing an alert provider.

Best Brokers With Day Trading Alerts

Following our hands-on tests, these are the 10 highest-rated brokers with day trading alerts, available through desktop platforms and mobile apps:

Click a broker for details
  1. 1
    FOREX.com
    Active Trader Program With A 15% Reduction In Costs
    Ratings
    4.9 / 5
    4 / 5
    4.3 / 5
    4.6 / 5
    4.6 / 5
    4.3 / 5
    4.8 / 5
    4.5 / 5
    3.6 / 5
    3.8 / 5
    $100
    0.01 Lots
    1:50
    NFA, CFTC
    Forex, Stocks, Futures, Futures Options
    MT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
    Wire Transfer, Credit Card, Debit Card, Visa, Mastercard, Skrill, Neteller, ACH Transfer
    USD, EUR, GBP, CAD, AUD, JPY, CHF, PLN
    Go To FOREX.com
  2. 2
    NinjaTrader
    Ratings
    4.3 / 5
    2.8 / 5
    2.9 / 5
    4.3 / 5
    4.5 / 5
    4 / 5
    4 / 5
    3.5 / 5
    3 / 5
    3.2 / 5
    $0
    0.01 Lots
    1:50
    NFA, CFTC
    Forex, Stocks, Options, Commodities, Futures, Crypto
    NinjaTrader Desktop, Web & Mobile, eSignal
    ACH Transfer, Debit Card, Wire Transfer
    USD
    Go To NinjaTrader
  3. 3
    DNA Markets
    Ratings
    3 / 5
    4 / 5
    4 / 5
    3.9 / 5
    3.5 / 5
    3.6 / 5
    1.8 / 5
    1.6 / 5
    4.8 / 5
    4.4 / 5
    $100
    0.01 Lots
    1:500
    ASIC
    CFDs, Forex, Indices, Commodities, Stocks, Crypto
    MT4, MT5
    Credit Card, Debit Card, Wire Transfer, BPAY, Skrill, Neteller, Bitcoin Payments, Bitwallet, AstroPay, Mastercard
    USD, EUR, GBP, CAD, AUD, NZD, SGD
    Go To DNA Markets
  4. 4
    IG
    Forex trading involves risk. Losses can exceed deposits.
    Ratings
    4.9 / 5
    4 / 5
    4.5 / 5
    3.5 / 5
    4.8 / 5
    4.5 / 5
    4.9 / 5
    5 / 5
    4.6 / 5
    4 / 5
    $0
    0.01 Lots
    1:30 (Retail), 1:250 (Pro)
    FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB
    CFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
    Web, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral
    PayPal, Wire Transfer, Mastercard, Credit Card, Visa, Debit Card
    USD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD
    Go To IG
  5. 5
    Pocket Option
    50% Deposit Bonus
    Ratings
    2 / 5
    3.5 / 5
    2.5 / 5
    3.5 / 5
    3.3 / 5
    3.3 / 5
    3 / 5
    3.5 / 5
    4 / 5
    4.2 / 5
    $50
    $1
    MISA
    Binary Options, Currencies, Commodities, Stocks, Indices, Cryptos
    Web, MT4, MT5
    Wire Transfer, Credit Card, Bitcoin Payments, Volet, Perfect Money, Visa, Mastercard, Debit Card, WebMoney, FasaPay, Ethereum Payments, Maestro, JetonCash
    USD
    Go To Pocket Option
  6. 6
    Moomoo
    Get up to 15 free stocks worth up to $2000
    Ratings
    4.8 / 5
    3.3 / 5
    3 / 5
    3.8 / 5
    3 / 5
    2 / 5
    3.8 / 5
    4.4 / 5
    4.6 / 5
    3.3 / 5
    $0
    $0
    1:2
    SEC, FINRA, MAS, ASIC, SFC
    Stocks, Options, ETFs, ADRs, OTCs
    Desktop Platform, Mobile App
    Wire Transfer, ACH Transfer
    USD, HKD, SGD
    Go To Moomoo
  7. 7
    Videforex
    20% to 200% Deposit Bonus
    $250
    $0.01
    1:500
    Binary Options, CFDs, Forex, Indices, Commodities, Crypto
    TradingView
    Skrill, Perfect Money, Bitcoin Payments, Neteller, Credit Card, Visa, Mastercard, Ethereum Payments
    USD, EUR, GBP, AUD, RUB
    Go To Videforex
  8. 8
    xChief
    $100 No Deposit Bonus
    $10
    0.01 Lots
    1:1000
    VFSC
    CFDs, Forex, Metals, Commodities, Stocks, Indices
    MT4, MT5
    Wire Transfer, Bitcoin Payments, Credit Card, UnionPay, Skrill, Neteller, WebMoney, Perfect Money, Debit Card, Ethereum Payments, FasaPay, Volet
    USD, EUR, GBP, JPY, CHF
    Go To xChief
  9. 9
    Binarium
    $5
    $1
    Forex, Stocks, Cryptos
    Own
    QIWI, Yandex Money, Bitcoin Payments, Neteller, WebMoney, Wire Transfer, Visa, Mastercard, Credit Card, Debit Card
    USD, EUR, AUD, RUB
    Go To Binarium
  10. 10
    Coinexx
    100% Deposit Welcome Bonus
    0.001 BTC
    0.01 Lots
    1:500
    Forex, Commodities, Indices, Cryptocurrencies
    MT4, MT5
    Bitcoin Payments, Ethereum Payments
    USD
    Go To Coinexx

Here is a short summary of why we think each broker belongs in this top list:

  1. FOREX.com - Founded in 1999, FOREX.com is now part of StoneX, a financial services organization serving over one million customers worldwide. Regulated in the US, UK, EU, Australia and beyond, the broker offers thousands of markets, not just forex, and provides excellent pricing on cutting-edge platforms.
  2. NinjaTrader - NinjaTrader is a US-headquartered and regulated brokerage that specializes in futures trading. There are three pricing plans to suit different needs and budgets, as well as ultra-low margins on popular contracts. The brand's award-winning charting software and trading platform also offers a high-degree of customization and superb technical analysis features.
  3. DNA Markets - DNA Markets is a forex and CFD broker established in 2020. The broker operates two entities in Australia and the offshore jurisdiction, St Vincent and the Grenadines. Traders can access 800+ markets, with a Standard account for beginners and a Raw account for experienced traders. The reliable MetaTrader 4 and MetaTrader 5 platforms are available, alongside Signal Start.
  4. IG - Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
  5. Pocket Option - Established in 2017, Pocket Option is a binary options broker offering high/low contracts on forex, stocks, indices, commodities and cryptocurrencies. With over 100,000 active users and a global reach, the platform continues to prove popular with budding traders.
  6. Moomoo - Moomoo is an SEC-regulated app-based investment platform that offers a straightforward and affordable way to invest in Chinese, Hong Kong, Singaporean, Australian and US stocks, ETFs and other assets. Margin trading is available and the brand offers a zero-deposit account as well as several bonuses.
  7. Videforex - Launched in 2017, Videforex offers access to stock, index, crypto, forex and commodities markets via binary options and CFDs. The proprietary platform, mobile app and integrated copy trading are user-friendly and will suit new and casual traders, and the market analysis tools and trading contests provide good ways to improve your trading skills.
  8. xChief - xChief is a foreign exchange and CFD broker, established in 2014. The company is based offshore and registered with the VFSC and FMA. Users can choose between a wide selection of accounts and base currencies, making ForexChief accessible to global traders. The brand also stands out for its no deposit bonus and fee rebates for high-volume traders.
  9. Binarium - Binarium is an established international broker offering binary options trading on diverse markets including stocks, indices, forex, commodities and cryptocurrencies. Traders can start trading with as little as $1 and earn payouts up to 80% of their stake.
  10. Coinexx - Coinexx is an unregulated broker that provides leverage up to 1:500 on forex, commodities, indices and cryptocurrencies with deep liquidity, pure ECN spreads and negative balance protection. The broker uses crypto as base currencies and has low minimum deposit requirements of 0.001 BTC.

FOREX.com

"FOREX.com remains a best-in-class brokerage for active forex traders of all experience levels, with over 80 currency pairs, tight spreads from 0.0 pips and low commissions. The powerful charting platforms collectively offer over 100 technical indicators, as well as extensive research tools."

Christian Harris, Reviewer

FOREX.com Quick Facts

Bonus OfferActive Trader Program With A 15% Reduction In Costs
Demo AccountYes
InstrumentsForex, Stocks, Futures, Futures Options
RegulatorNFA, CFTC
PlatformsMT4, MT5, TradingView, eSignal, AutoChartist, TradingCentral
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:50
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, CHF, PLN

Pros

  • The in-house Web Trader continues to shine as one of the best-designed platforms for aspiring day traders with a slick design and over 80 technical indicators for market analysis.
  • There’s a wealth of educational resources including tutorials, webinars, and a stacked YouTube channel to help you get educated in the financial markets.
  • With over 20 years of experience, excellent regulatory oversight, and multiple accolades including runner-up in our 'Best Forex Broker' awards, FOREX.com boasts a global reputation as a trusted brokerage.

Cons

  • Demo accounts are frustratingly time-limited to 90 days, which doesn’t give you enough time to test day trading strategies effectively.
  • FOREX.com's MT4 platform offers approximately 600 instruments, significantly fewer than the over 5,500 available on its non-MetaTrader platforms.
  • Funding options are limited compared to leading alternatives like IC Markets and don’t include many popular e-wallets, notably UnionPay and POLi.
Visit FOREX.com
FOREX.com Review

NinjaTrader

"NinjaTrader continues to meet the demands of active futures traders looking for low fees and premium analysis tools. The platform hosts top-rate charting features including hundreds of indicators and 10+ chart types."

Tobias Robinson, Reviewer

NinjaTrader Quick Facts

Demo AccountYes
InstrumentsForex, Stocks, Options, Commodities, Futures, Crypto
RegulatorNFA, CFTC
PlatformsNinjaTrader Desktop, Web & Mobile, eSignal
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:50
Account CurrenciesUSD

Pros

  • Low fees are offered, with $50 day trading margins & commissions from $.09 per micro contract
  • You can get thousands of add-ons and applications from developers in 150+ countries
  • NinjaTrader is a widely respected and award-winning futures broker and is heavily authorized by the NFA and CFTC

Cons

  • The premium platform tools come with an extra charge
  • Non forex and futures trading requires signing up with partner brokers
  • There is a withdrawal fee on some funding methods
Visit NinjaTrader
NinjaTrader Review

DNA Markets

"DNA Markets is an excellent choice for short-term traders familiar with the MetaTrader platforms. The smooth sign-up process also makes it easy to get started while the $100 minimum deposit is accessible. That said, DNA Markets trails the top brokers in education, research and mobile trading. "

Jemma Grist, Reviewer

DNA Markets Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Indices, Commodities, Stocks, Crypto
RegulatorASIC
PlatformsMT4, MT5
Minimum Deposit$100
Minimum Trade0.01 Lots
Leverage1:500
Account CurrenciesUSD, EUR, GBP, CAD, AUD, NZD, SGD

Pros

  • You can access low trading fees with spreads from 0.0 pips in the Raw account and zero non-trading fees
  • DNA Markets offers top-rate platforms and charting tools for day traders with access to MT4 and MT5
  • The broker provides 24/5 customer support with response times of <2 minutes during testing

Cons

  • Despite access to MT4 and MT5, there is no proprietary trading app for seamless account management whilst on the go
  • Unlike many alternatives, there are limited educational and research tools for traders seeking an all-in-one solution
  • Although it continues to strengthen its client base and reputation, DNA Markets lacks the track record of top brokers like Vantage
Visit DNA Markets
DNA Markets Review

IG

"IG continues to provide a comprehensive package with an intuitive web platform and best-in-class education for beginners, plus advanced charting tools, real-time data, and fast execution speeds for experienced day traders."

Christian Harris, Reviewer

IG Quick Facts

Demo AccountYes
InstrumentsCFDs, Forex, Stocks, Indices, Commodities, ETFs, Futures, Options, Crypto, Spread Betting
RegulatorFCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB
PlatformsWeb, ProRealTime, L2 Dealer, MT4, AutoChartist, TradingCentral
Minimum Deposit$0
Minimum Trade0.01 Lots
Leverage1:30 (Retail), 1:250 (Pro)
Account CurrenciesUSD, EUR, GBP, CAD, AUD, JPY, ZAR, SEK, DKK, CHF, HKD, SGD

Pros

  • The ProRealTime advanced charting platform is free as long as certain modest monthly trading activity requirements are met
  • The proprietary web-based platform continues to caters to traders of all levels, with advanced charting tools and real-time market data useful for day trading
  • As a well-established broker, IG operates under strict regulatory guidelines in multiple jurisdictions, maintaining a high level of trust

Cons

  • Beginners might find IG’s fee structure complex, with various fees for different types of trades or services, potentially leading to confusion or unexpected charges
  • While there is negative balance protection in the UK and EU, there is no account protection or guaranteed stop losses for US clients
  • IG has discontinued its swap-free account, reducing its appeal to Islamic traders
Visit IG
IG Review

Pocket Option

"Pocket Option excels for its easy-to-use web platform which provides a best-in-class user experience for short-term binary traders. The $50 minimum deposit is also accessible for beginners while opening an account is really easy. Looking at the negatives, Pocket Option still trails alternatives in its market offering and regulatory credentials."

Jemma Grist, Reviewer

Pocket Option Quick Facts

Bonus Offer50% Deposit Bonus
Demo AccountYes
InstrumentsBinary Options, Currencies, Commodities, Stocks, Indices, Cryptos
RegulatorMISA
PlatformsWeb, MT4, MT5
Minimum Deposit$50
Minimum Trade$1
Account CurrenciesUSD

Pros

  • The MetaTrader platforms offer integrated analysis with helpful technical summaries for short-term traders
  • Extremely fast and smooth sign-up process that takes less than 2 minutes
  • Well-funded traders who deposit $1000+ can qualify for a 2%+ payout boost, more tradable assets and exclusive perks

Cons

  • Despite offering competitive payouts up to 92%, binary brokers like IQCent offer higher returns up to 98% based on tests
  • The maximum binary contract length of 4 hours is restrictive for longer-term trading strategies. Alternatives like Videforex offer binaries up to 1 month
  • Pocket Option offers a slimmed down iteration of the MT4 and MT5 that doesn't provide the full charting package for advanced traders
Visit Pocket Option
Pocket Option Review

Moomoo

"Moomoo remains an excellent choice for new and intermediate stock traders who want to build a diverse investment portfolio. What really stands out is the broker's user-friendly app and the low trading fees."

Jemma Grist, Reviewer

Moomoo Quick Facts

Bonus OfferGet up to 15 free stocks worth up to $2000
Demo AccountYes
InstrumentsStocks, Options, ETFs, ADRs, OTCs
RegulatorSEC, FINRA, MAS, ASIC, SFC
PlatformsDesktop Platform, Mobile App
Minimum Deposit$0
Minimum Trade$0
Leverage1:2
Account CurrenciesUSD, HKD, SGD

Pros

  • Moomoo's analytics and insights are impressive and detailed compared to other brands
  • The broker offers access to extended pre-market trading hours
  • The ‘Moomoo Token’ generates dynamic passwords for transaction security - a unique and helpful safety feature

Cons

  • There is no negative balance protection, which is a common safety feature at top-tier-regulated brokers
  • It's a shame that there is no 2 factor authentication (2FA), despite the other security features on offer
  • There is no phone or live chat support - common options at most other brokers
Visit Moomoo
Moomoo Review

Videforex

"Newer traders will find a lot to enjoy about trading binary options on Videforex's easy-to-use proprietary platform, as well as the broker's copy trading solution. Payouts also remain higher than most alternatives climbing to 98%."

William Berg, Reviewer

Videforex Quick Facts

Bonus Offer20% to 200% Deposit Bonus
Demo AccountYes
InstrumentsBinary Options, CFDs, Forex, Indices, Commodities, Crypto
PlatformsTradingView
Minimum Deposit$250
Minimum Trade$0.01
Leverage1:500
Account CurrenciesUSD, EUR, GBP, AUD, RUB

Pros

  • Videforex allows you to enter positions with just ¢0.01
  • The firm facilitates both day trading and binary options which is great for those looking to diversify their portfolios
  • Traders can earn up to 98% payouts on 100+ assets with the broker’s binary options, which is in line with competing brands like IQCent

Cons

  • US clients aren’t accepted due to legal restrictions
  • The broker isn’t overseen by a trusted regulatory agency
  • No MetaTrader 4 integration
Visit Videforex
Videforex Review

xChief

"xChief continues to prove popular with investors looking to trade highly leveraged CFDs on the popular MetaTrader platforms. The broker's rebate scheme and investment accounts will particularly appeal to seasoned traders. However, the lack of top-tier regulatory oversight is a major drawback."

William Berg, Reviewer

xChief Quick Facts

Bonus Offer$100 No Deposit Bonus
Demo AccountYes
InstrumentsCFDs, Forex, Metals, Commodities, Stocks, Indices
RegulatorVFSC
PlatformsMT4, MT5
Minimum Deposit$10
Minimum Trade0.01 Lots
Leverage1:1000
Account CurrenciesUSD, EUR, GBP, JPY, CHF

Pros

  • The broker offers several account types to suit different traders, including a Cent account for beginners and pro-level hedging/netting accounts
  • xChief delivers a high-quality day trading environment via the MT4 and MT5 platforms, with market-leading charts, indicators and tools
  • xChief offers STP/ECN execution with low spreads from 0.0 pips and low commission rates starting from $2.50 per side

Cons

  • Fees and minimums are imposed on most withdrawal methods, including a €60 minimum for SWIFT bank transfers
  • The Classic+ and Cent accounts provide access to fewer instruments than the other account types, at 50+ and 35+, respectively
  • The broker trails competitors when it comes to research tools and educational resources
Visit xChief
xChief Review

Binarium

"Binarium is a good binary options broker for traders looking for an experienced brand with low deposit requirements and a welcome bonus."

William Berg, Reviewer

Binarium Quick Facts

Demo AccountYes
InstrumentsForex, Stocks, Cryptos
PlatformsOwn
Minimum Deposit$5
Minimum Trade$1
Account CurrenciesUSD, EUR, AUD, RUB

Pros

  • Segregated client funds
  • Demo account with virtual funds
  • Low minimum deposit requirements

Cons

  • Limited trading instruments
  • Unregulated
  • Specific bonus terms and conditions to meet before being able to withdraw funds
Visit Binarium
Binarium Review

Coinexx

"Traders seeking highly leveraged CFDs with a broker that uses crypto as a base account currency will find a good match in Coinexx. The ECN model also offer tight spreads from 0 pips. On the downside, traders should note the weak regulatory oversight."

Tobias Robinson, Reviewer

Coinexx Quick Facts

Bonus Offer100% Deposit Welcome Bonus
Demo AccountYes
InstrumentsForex, Commodities, Indices, Cryptocurrencies
PlatformsMT4, MT5
Minimum Deposit0.001 BTC
Minimum Trade0.01 Lots
Leverage1:500
Account CurrenciesUSD

Pros

  • Very high leverage up to 1:500
  • 100% deposit bonus for new clients
  • Full range of investments including cryptos

Cons

  • No copy trading service for aspiring investors
  • No regulatory oversight reduces safety
  • Limited educational materials for new traders
Visit Coinexx
Coinexx Review

What Is A Day Trading Alert?

As a short-term trader, you are presented with many hurdles to overcome. How do you choose between thousands of securities? How do you react to news announcements before the market?

This is where day trading alerts come in. Put simply, they alert you when an event takes place.

This event could be a market development, technical indicators, or reaching a specified price target, for example, a notification if the price of gold declines by 1.5% over a four-hour period.

Armed with this information you’re able to act or react swiftly, increasing your chance of yielding a profit. You may want to pay more attention to a security, or know when to enter or exit a trade.

Alerts will flash up on your trading platform when the conditions are met. They can also be sent by email, SMS, and increasingly by push notification on your mobile phone.

You can get straightforward and free trading signals, that come with your trading platform, and you can get additional, complex alerts that come at a price. The complexity of your notifications will depend on your individual trading style and needs.

author image
Royston Wild
Author

Types Of Alerts

As technology has rapidly evolved, effective intraday trading alerts can now be found for nearly all markets, including stocks, forex, commodities, and cryptocurrencies.

That said, trading alerts can be broken down into several categories:

Price Alerts

These inform you when prices move by a certain percentage or hit a specific price level.

They are useful because they can immediately notify you when the market breaches support or resistance levels, or encounters a breakout on a price chart – events that often lead to significant price volatility and opportunity for short-term traders.

Using eToro platform to set up a day trading alert on BTC
Setting a price alert on the eToro platform

Technical Alerts

Technical analysis is used extensively by short-term traders, who – after studying charts – can then set up and buy and sell alerts based on an array of popular technical indicators. These include Moving Average Convergence Divergence (MACD), Bollinger Bands, and Ichimoku Cloud.

You can set alerts based on specific conditions or crossovers of these indicators. For instance, I could establish a copper alert on my trading platform to tell me when the MACD line crosses above or below the signal line.

A cross above is a bullish crossover, and an alert in this instance could encourage me to create a buy order for a copper mining stock, such as Rio Tinto (RIO).

Setting up a technical day trading alert on the IG platform
Setting an indicator alert on the IG platform

News Alerts

Economic reports, geopolitical updates, corporate announcements, market news and other events can have a significant impact on asset prices. Some of the most watched events in the economic calendar include:

News alerts that cover these events – as well as unexpected off-diary occurrences – can help short-term traders stay informed and react to market shifts.

The best news notifications of this sort will come with commentary and analysis to enhance your trading decisions.

Several platforms also allow you to scroll through a tailor-made economic calendar and then tick the events you’d like to set reminders for. They usually allow you to specify how you’d like to be notified, and how much notice you would like.

Setting up a news trading alert on CMC Markets platform
Setting a news alert on the CMC Markets platform
💡
Most day traders only think of alerts as useful for telling you when to enter a position, but they can also be used to recognize failures. Set alerts near your stop levels to get a heads-up before hitting them, allowing you to assess and react.

Pros And Cons Of Using Trading Alerts

Pros

  • Opportunity discovery: By alerting you to certain price movements, technical indicators, or news events, you can identify potential entry and exit points and improve your chances of capturing profitable trades.
  • Noise reduction: Alerts can streamline the decision-making process, allowing you to block out random market fluctuations and irrelevant information that can obscure meaningful trends or patterns.
  • Time efficiency: By setting up notifications, you don’t have to intensively monitor the markets themselves, giving you time to focus on other tasks and refine your short-term trading strategies.
  • Speed and accuracy: Some alert systems are now 100% automated, relying on highly accurate maths and removing the human error margin. This also means that the information you need to make a decision can be provided more quickly.
  • Risk management: You can minimize risk to your trades by establishing alerts when markets hit certain thresholds, making them an important tool in your risk management arsenal.

Cons

  • Technological problems: While technology is rapidly improving, alerts can still convey incorrect or misleading information that provides false trading signals. Notification delays, platform malfunctions, and connectivity issues may also impact your ability to capitalize on trading opportunities or manage risk.
  • Over-dependency: Traders can become excessively reliant on alerts to inform dealing decisions. This may dull your ability to adapt to market conditions, lead to overtrading, and hinder the development of analytical skills.
  • Increased trading costs: Many brokers offer free alerts, although you can pay third parties for more sophisticated notification systems. While these tools can boost returns, the associated subscription fees or one-off costs can eat into profits.

Choosing An Alert Provider

Hot competition means that brokerages are all investing heavily to provide the best user experience. This is why many increasingly offer trading alert services to their clients.

But with a lot of different companies operating in this industry, what should you consider when deciding which to use?

Based on our direct experience testing a long row of trading alert providers, there are five key things we, and you, should consider:

  1. Which asset class are you trading? Some specialist notification companies, such as ForexSignals.com, concentrate on certain markets like currencies, while brokers like CMC Markets provide alerts spanning multiple asset classes, from forex to stocks, indices, and commodities.
  2. How transparent are they? Only choose a service that provides detailed information on their trading strategies, alert methodologies, and performance metrics, notably win rates and average returns. FOREX.com stands out here with its AI-powered Smart Signals engine that provides short-term trade ideas across 4-, 6-, 8- or 12-hour time intervals with a hit rate out of 10.
  3. Is the alert platform user-friendly? It’s important to select an interface that is easy to use and offers a variety of functions. IG excels here with an intuitive panel in its app that we’ve used to set price alerts, breaking out triggered vs untriggered alerts with accompanying details like price, time and date.
  4. Do they offer good customer support? Technical problems can be expensive and very frustrating for traders. Try to find out how responsive and effective the provider is in addressing issues, and consider if they provide multiple ways for customers to make contact. XTB has delivered first-class support 24/5 over our years of testing, with integrated live chat in the platform and dedicated account managers.
  5. What are their fees? Selecting an alert provider requires a trade-off between quality of service and cost. Remember that high fees can take a big bite out of your profits. Opting for a broker with free trading alerts like AvaTrade can help keep fees down. Real-time alerts are available through its web platform and award-winning mobile app.
Many of these questions can only be answered once a provider’s services have been employed. So choosing one that offers a demo account can be a good idea.
author image
Royston Wild
Author

We’ve reviewed a growing list of independent trading alert providers over the years, many of which specialize in specific markets and types of trading notifications…

Specialist Trading Alert Providers

Review
1000PipBuilder offer forex signals via subscription. Independently verified results highlight potential, and ongoing support from experienced traders means there is more on offer than just signals.
Review
1000PipClimber provides a 100% rule-based forex signal service. Entry, Stop Loss and Take Profit levels are calculated via an advanced algorithm. Comprehensive after sales support puts the service in front of most others.
Review
Access the Binary Destroyer 7.0 system and learn to develop some of the most powerful skills needed to succeed in trading.
Review
ForexSignals.com go beyond offering raw signals. They also provide strategies, powerful tools and professional mentors. The educational element of the service sets it apart from pure signal providers.
Review
Toggle AI provides actionable insights on 35,000 assets spanning multiple classes, industries and geographies.
Review
8topuz is a forex trading algorithm that uses deep neural network machine learning algorithms to execute large numbers of high-frequency trades automatically on the behalf of its users.
Review
CoinMarketCap is a top cryptocurrency data and portfolio tracker, with information on over 11,000 cryptos and premium API services for strategy testing.
Review
Chart Viper is a subscription service for the renowned Autochartist signals and analysis software, available for integration with MetaTrader and Thinkorswim trading platforms.
Review
CoinGecko is a crypto charting and data provider, with a wealth of useful tools, features, educational content and information on over 9,000 coins.
Review
Autochartist is a technical analysis tool that assists with trade set up and patterns, as well as providing signals, market reports and other useful features.
Review
BuySide Global is a popular indicator service compatible with the NinjaTrader 8 platform. Clients can also purchase automated trading systems and membership to community chatrooms.
Review
What2Trade is a free signals provider for forex, cryptocurrency, futures and US stock markets with daily published articles and a strong social media presence.
Review
Trade Ideas is a sophisticated signals and stock scanner service for active day traders.
Review
Forex Signal Factory offers free trading signals to investors looking to speculate on the FX market.

Disclaimer – the service providers listed here are not endorsed, or guaranteed, by DayTrading.com to be fit for any purpose. Any use of third-party service providers is at the user’s personal risk. We may receive financial compensation from providers listed here.

Bottom Line

Traders who wish to increase their returns and manage their risk effectively can benefit greatly from day trading alerts.

Yet despite these advantages, traders should also be mindful of the associated costs of using these tools, whilst also remembering to guard against overreliance. They should only be employed as part of a balanced approach to decision-making.

To get started, use our list of the best brokers with day trading alerts.

FAQ

How Can I Receive Trading Alerts?

You can receive your alerts in a number of straightforward ways. You can register for notifications that will pop up when you’re actually in your web-based trading platform, say TradingView. They will usually make a sound to inform you an event of interest has occurred.

Alternatively, you can get mobile SMS notifications. These allow you to respond to important market developments even when you’re on the move.

There is even the option of X, formerly Twitter, alerts. That’s right, you can keep up to date with Donald Trump at the same time as receiving crucial trading information. If that isn’t to your fancy you can set up email alerts and absorb data that way.

Technology now allows you to receive your alerts in whichever medium is most suitable for your needs. For example, an intraday trader glued to the screen all day may benefit most from alerts on their web-based platform.

Can You Profit From Trading Alert Services?

Despite the promise of riches alert service providers claim, there remain downsides to stay aware of. Firstly, remember that however many benefits trading signals and alerts offer, they don’t replace experience and they won’t work without an effective strategy.

Secondly, you need to take into account slippage. There will always be some lag in the alert and your ability to make or exit a trade, and when you’re day trading, every second and tick counts.