The online stock market is dynamic and ever-changing, with strong competition. There are hundreds of trading sites out there with even more online trading tools and apps. Actually, the global online trading markets’ value skyrocketed from $8.59 billion in 2021 to $10.27 billion in 2022, and it’s expected to reach $12.16 billion in 2028.
So, in today’s fast-paced trading environment, it’s crucial to stay on top of what’s happening, especially since new tech trends could significantly impact your portfolio.
This is why staying one step ahead of the market is a vital aspect of online trading. The real challenge is sorting out the relevant information from the irrelevant information for your investments. This is where stock alerts come in. They are designed to help you gain more control over your trading. Below we cover everything you need to know about stock alters and the best stock alert services.
What Are Stock Alerts
Stock alerts offer up-to-date data on the market’s movements, and you are alerted whenever there are any changes. They are basically a trading alert that you set to be notified of any economic changes, price movement, or technical indicators which could potentially have an impact on your stocks.
For example, if Tesla stock has decreased in value by less than one percent, you will be notified the second that happens. You can also set up alerts when Tesla stocks reach a new high or when the price of the stocks increases by 5%.
Your job is only to set up the stock performance tracker. Then, you can go about your business knowing that you will get up-to-date notifications on your desktop and mobile devices.
Why Are Stock Alerts Important
As we all know, timing is everything, and in a digital world that is always changing where different sources of information are circulating the globe – valuable information can help you make the best decision for your investment. Useful tools like stock alerts and stock performance trackers are important for that very reason.
For example, when you use a stock performance tracker, you can organize stock watchlists, manage your portfolio and track all of your investments in one place. With stock alerts, you will be notified of any market trends or price changes that you might not have noticed otherwise.
Not only will you receive information relevant to your assets, but you will also receive those alerts in real-time. Consequently, you can make decisions on the spot, which could potentially save you from future losses if the stocks have been on a downward trend. Likewise, you will also be able to sell on time and make profits if you are notified of a sudden stock value increase.
How to Choose the Best Stock Alert Service
As we mentioned, the market is quite saturated, and there are many different stock alert services that you can use. However, making the right choice is important because you want to pick the right stock alert service for your needs. It’s equally important for the stock-alert service to be accurate, user-friendly, and easily accessible. Lastly, you also want to be able to differentiate between stock-specific alerts and scan-specific alerts.
Stock-specific alerts are alerts that need to be manually set up. They are specifically attached to a stock that you want to monitor and can be triggered by news, technical indicators, or value changes in that stock. As soon as the alert is triggered, you can opt to receive notifications by email, phone call, text message, or app notifications.
Another advantage is that you can set up multiple stock-specific alerts for your stock, and you also have the option, if you think it’s necessary, to add different stock alerts for many different stocks, as well as multiple different alerts for one stock.
The second type is scan-based alerts which are associated with a specific market or its subsets. They are designed to scan that market in its entirety and look for any changes that are relevant to your portfolio. They are particularly useful to day traders and will notify you about any new trading opportunities.
Top Stock Alert Services
There are a lot of stock alert services to choose from, and it could be difficult to pick the best ones. To make it easier for you, we’ve reviewed the best stock alert services, their main features, and the benefits they offer.
1. Robinhood
The Robinhood app is very useful for the price movements of stocks. It is widely used and available on both Apple and Android mobile devices. There are also widgets that you can add to your device. The app provides push notifications whenever there are price changes for stocks. You can set up your alerts to stocks and cryptocurrencies and place a price threshold between 5% and 10%.
Robinhood offers customer support 24/7 through the app. The main advantage is that Robinhood is user-friendly and very popular among beginners. Another advantage is that you can set 52-week high/low notifications in the app and custom alerts. The downside is that there are limited trading options and some premium options that you would normally find for free on other trading platforms.
2. Fidelity
Fidelity is a well-known trading platform among experienced investors. It allows you to receive alerts on bonds, stocks, ETFs, and mutual fund events. Moreover, there are several price alert types available for the above-mentioned assets. First, there are price movement alerts, and in this case, you will receive a notification when the stock rises or drops in value based on the target price.
You can also set your alert based on a certain percentage. In this case, you will be notified when the price increases or declines by a specific percentage. You can also set a 52-week high/low alert.
Fidelity offers you more options when it comes to stock alerts, and they also have a long list of securities that are available on the platform for trading. In terms of customer support, they also offer customer support by phone, live chat feature, and email. The only downside that we could find is that there are some exclusive features and higher fees for assistance from brokers.
3. Yahoo! Finance
Yahoo! Finance is great for anyone looking for a free version that provides price alerts, alerts on news headlights, and earnings reports. All of that is free of charge. In our opinion, it is great for beginners that want to improve their knowledge and skills; however, if you are looking for a long-term solution, then you can also take a look at their premium version, which is well-equipped for day traders. The customer support team is available by phone and email.
4. Stock Alarm
Stock Alarm is one of the best-rated stock price alert services, and for a good reason. It supports over 65,000 assets and offers over 125 alert types. On top of that, you can also set up custom notifications based on your preferences. Another advantage is that you can choose to receive multiple alerts that include everything from email notifications, push notifications, text messages, or phone calls.
Next, the app is available for download for free on both Android and Apple mobile devices. The only downside is that it could be a bit overwhelming for newbies as it has a lot of options, and it takes time to get used to everything it offers.
Conclusion
In conclusion, in order to be successful in online trading, you have to invest in your own knowledge and skills and also stay alert for any new market trends or news headlines and changes that could potentially provide you with more opportunities to earn higher returns.
Stock alerts are a reliable way of staying informed on what’s going on in the market and getting real-time notifications about assets that are important to your portfolio. The alerts can be based on price changes and news headlines, or you can also set scan-based alerts.
What’s more, there is an increasing number of stock alert services that offer both free and premium features. So, based on your financial goals and preferences, you can find an application that offers accurate and up-to-date notifications.
Lastly, it’s very important to make decisions based on your own financial goals and financial budget. Even if you get the best alerts and stay on top of the changes in the market, everything is irrelevant if you lack the skills and knowledge to make the best decision for your portfolio.
