Stock trading chat rooms offer an excellent opportunity to learn new techniques and even get some actionable info for successful trades. Just remember, the internet is full of con artists, and finding a credible chat room can be difficult, especially if you’re a novice investor. Find the best stock chat room by reading the article below.
Quick Look at the Best Stock Chat Room Options
- Benzinga Pro
- Eagle Investors
- Shadow Trader
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Best Trading Stock Chat Room Options
Check out the trading chat rooms that traders can’t stop talking about!
1. Benzinga Pro
The chatroom in Benzinga Pro is for you if you’re looking for something that will not only give you access to a chat room, but access to several other stock news and research tools. It’s a great start for beginner to advanced traders.
The traders in the chatroom are a community of full and part-time traders. Since Benzinga Pro is focused on stock market news, many of the traders talk about and react to market-moving news. The traders in the chatroom also discuss their positions and give advice or opinions to others in the chat.
All Trading Levels
2. Eagle Investors
Eagle Investors is a unique investment research platform. You don’t make trades on the site—you learn about your trades. There are several alert channels and chat rooms available, moderated by expert traders.
You can register for free, or you might step up to a Silver or Diamond account. Aside from the chat rooms and alerts, the site offers information and statistics on its alerts. You can see how successful the site has been over long periods of time. Plus, you can check out the blog or review the education section if you’re new to options trading.
If you want to test out of the site, you can register today and compare Eagle’s information to other sites or platforms you’ve used in the past.
New to options or want to take your game to the next level? ShadowTrader offers 3 options advisories for all skill levels, each just $49 per month.
Traders can choose from Weekly Options Advisory, Time Spreads Advisory or Beginner Options Advisory.
Attend live sessions in their Pro Trading Room and also receive real-time trade alerts to your mobile or tablet through a dedicated app. Click the ‘Get Started’ button to receive a FREE options training video.
TrueTrader is more than just a chat room. When you visit TrueTrader, you learn how to invest, get stock alerts, can screenshare with experts and slip into the chat room to discuss your trading patterns and the markets. Even after taking the masterclass course, screensharing with 2 experts and checking out the scanners, you can use the chat room to:
- Learn from investors just like you
- Ask questions you would be afraid to ask elsewhere
- Discuss your trades
- Compare trades with others
- Build relationships with other traders
You can start on TrueTrader with a 5-day free trial. After that, you can pay $1195 for yearly access to all of TrueTrader’s content or pay $295 upfront and $99 per month after that.
What are Trading Chatrooms?
Remember chatting on AOL chat rooms back in the 90s? Sure, they may seem primitive in the age of Twitter and Instagram, but this was the most popular way to communicate back in the early days of the internet. Chat rooms put a bunch of strangers together to share ideas. The investment community has been a meeting place for new ideas for decades, so naturally, trading chat rooms were born.
Trading chat rooms are online hangouts where individual traders can converse and share ideas. In an industry full of pros looking out for themselves, trading chat rooms offer spaces where investors could learn new strategies, ask questions, and develop a trading style. Moderators control the chat programs and help police for malcontents. Most services also charge a fee, which further deters trolls.
Price structure and chat style can vary, so make sure you know what type of trading you want to do before signing up for any specific room and seek out opinions from current or former users.
Pros of Trading Chat Rooms
Chat rooms can be a big boost for traders, especially those who are just starting out. Here’s a few of the advantages:
- Learning opportunities for new traders: Novices can learn the ins and outs of the market from brokers—pros who have years of experience.
- Lots of eyes on the market: Even the most sophisticated investors can’t watch every corner of the market. Chat rooms offer dozens of people who watch individual stocks and relay information.
- Community of support: The life of a full-time trader can be a isolated and stressful one, especially when the market goes sideways. Trading rooms provide a place for you to vent, share stories and pick each other up after you make mistakes.
Cons of Trading Chat Rooms
Not all trading chat rooms will steer you in the right direction. Here are a few red flags to to consider before getting a membership to a room:
- Membership fees: To prevent trolls and other malicious users from joining, most rooms charge fees. Nothing good is free, but this is an instant cut into any profits.
- Lurking scammers: Carefully vet your chat options and make sure scammers and manipulators are quickly ousted.
- Bad ideas spread quickly: Chat rooms have the capability of spreading good as well as bad ideas. Fact-checking is a must.
What to Look for in a Trading Chat Room
The best trading rooms all have a few common characteristics. Benzinga used the following criteria to make selections:
- Strong moderators who weed out trolls
- Fair price for the service and experience offered
- Civil engagement and respect for different viewpoints
Tired of Trading Alone?
There’s a plethora of options available, so choose a chat room that aligns with your investment goals, make sure the service fits your trading style and that the price point is an excellent value.
Frequently Asked Questions
What are the benefits of using chat rooms in trading?
You share and learn new ideas with a community of like-minded traders.
What are the drawbacks of using chat rooms for trading?
Be wary of traders looking to promote stocks that they own. You may find they go into chat rooms and persuade you into buying them.
Where can I find a stock chat room?
To find a stock chat room, you can look at Benzinga’s list of recommendatons above.