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SwingTradeBot Review 2020: How Does This Automated Software Work?

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Swing Trade Bot is a stock screener designed to make it easy for people to stay on top of the financial markets. As a market overview platform, this intuitive software gives traders an insight into potentially profitable trades. While nothing about this software is groundbreaking or unique, it has become a primary source for traders to get information on stock grades, technical signal scanners, and trading routines. This information makes it easier for traders to quickly take action when trading opportunities arise and to reduce the time they take to research and analyze stocks and other financial instruments. The Swing Trade Bot watches your preferred stocks, scans the market for crucial technical development, and notifies you when it is time to buy or sell an asset.

Swing Trade Bot is the product of Michael Seneadza, a Stanford University-educated Electrical Engineer, who is now a full-time trader and software developer in Atlanta. The software was developed due to Michael’s need to become more efficient with stock and forex market analysis. He desired to have a tool that could identify new trading opportunities and help him manage the stocks in his portfolio or on his Watchlist.

The Bot churns out the results of its technical analysis pattern scans every night by 6 pm New York time. Traders can then choose from the various scans to quickly identify trading opportunities that match their trading styles. The Bot also keeps checking the trader’s Watchlists and portfolio, providing traders with important technical events that are related to their trades at each trading session. As a result of this, this enables users to quickly know when they need to enter or exit a trade.

To help you understand the Swing Trade Bot and how it works, we have put together this honest and unbiased review. We will look at all the features, advantages, and disadvantages of this automated trading application.

Who Is the Swing Trade Bot Suitable For?

The Swing Trade Bot is best suited for experienced and advanced stock traders. This is because of the high-end technical analysis required to determine the performance of the stocks as well as the complex data that the bot produces. If you are a new trader and a beginner in the online trading world, you should rather consider automated trading software such as Algo Signals which is a lot easier to use and to understand.

Swing Trade Bot Unique Features

Swing Trade Bot features

Swing Trade Bot has some of the best features for a stock screener. The automated trading software conducts technical analysis scans of all the stocks on your portfolio. The Bot analyzes the stocks and then releases the results every day, from where you can check the stocks that match your trading style and make trading decisions from there. The technical scan feature on this platform comes in three types: the scan by type, all scans, and the combo scan. All of them are useful, allowing traders to leverage the high-end technical analysis of the platform.

The Watch list and Portfolio features on the platform are where the Bot alerts you to crucial technical signals on your stock list. You will get to know when to enter and exit trades on your portfolio with ease. The Bot will also help you to find strong stocks to buy as well as weak stocks to short sell.

Another excellent feature of the Swing Trade Bot is that it keeps track of the latest IPOs and lets traders know what is happening in the financial market. Traders can then take action and be amongst the early market entrants, buying a stock at a low price and selling it at higher prices. The platform sends emails to traders by the end of each trading day, giving them updates on their stocks and the general stock market.

The Swing Trade Bot helps you to trade similar to how a robot does. That is, the Bot always has an unemotional view of the markets. Michael offers his notes to traders daily, giving them updates on the markets to ensure that they stay in sync with the latest events and trading actions.

Rating – 9.5/10

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Fees and Commissions

The fees and commissions are perhaps one of the most exciting features of the Swing Trade Bot. If you select the lower tier account type, it is completely free to access this trading application. This means that the platform does not attach any fees when you open a new account.

Swing Trade Bot offers three pricing tiers. The Silver tier is free, but it does not give users access to the premium screeners on the platform. The Gold tier comes with a $14.95 monthly fee or a $129.95 annual fee. This gives you access to all Stock Scans, unlimited routines, no ads, nightly email of portfolio and watch list alerts and much more. The Platinum tier comes with a $19.95 monthly fee or a $169.95 annual fee. Each of the tiers come with unique features to match your trading style and strategies.

Rating – 8/10

User Experience

User Experience - UX

Advanced traders will have an easy time navigating this automated stock trading software. This is because the developer has designed the software with an intuitive interface. As stated above, those without prior experience of stock trading may find it hard to navigate the software or understand how it works.

Swing Trade Bot has an easy registration process that does not take much time to complete. You simply select the tier you wish to register for, pay the relevant fee and you will start receiving the relevant signals.

Some of the features of the Swing Trade Bot ensure that the user experience is a positive one. The Bot will alert you to important technical signals on your stock lists and it will also help you to find strong stocks to buy and weak stocks to short sell. This will eliminate the need for you to spend hours and hours in front of your computer analyzing market movements and financial market events. Another positive element of the Swing Trade Bot experience is that this Bot has been designed to help you to obtain consistent results by sticking to your routine. In addition, it has been designed to ensure that you trade with the trend. That is, the bot uses consistent, objective criteria to identify trends. One of the best parts of the user experience is that the Swing Trade Bot identifies and alerts you to exit points, ensuring that your losses are minimized.

Rating – 9/10

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Places to Use This Software

The good thing about the Swing Trade Bot is that it can be integrated and used on several global stock exchanges. These include the Australian ASX, the Canadian TSX and TSXV exchanges, the London, UK LSE and AIM exchanges, as well as the NYSE, NASDAQ, AMEX and the OTCBB (OTC Bulletin Board) exchanges in the USA. It is important to note that an account and/or subscription on one site, such as the Australian Swing Trade Bot site, does not work on the other sites. Therefore, if you would like to use Swing Trade Bot for the London Stock Exchange and the Australian Stock Exchange, you will need two accounts; one on each of those sites.

Rating – 9.5/10

SwingTrade Demo Account

Swing Trade Bot does offer a demo account or a free trial for users. Anyone that wishes to use the trading bot will have to register on the platform. In order to use the free trial of the Swing Trade Bot, you will need to first sign up for the silver tier account which is free of charge and then you will be able to use all of the features of the Gold Plan for 14 days. This is a great opportunity to use the Swing Trade Bot and to assess if it offers you the information required to boost your stock trading accuracy and profitability. Another great feature of the Swing Trade Bot is that there is also an Android app and an iOS app available, In addition, the site is mobile-friendly and it is evident that the developer wanted to ensure that traders could use the site from anywhere on any device. In this way, trading opportunities are never missed.

Rating – 9/10

Customer Support

Swing Trade Bot does not offer great customer service. The only way to contact Michael Seneadza, the developer of the bot, is to contact him via his website, or his Facebook, Twitter or LinkedIn accounts. I think that in this case, it is clearly evident that Swing Trade Bot lacks when it comes to offering customer support.

Rating – 4/10

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Pros and Cons of Using Swing Trade Bot

ProsCons
  • Over 100 pre-developed technical stock screens
  • Shows recent technical analysis and signals
  • Users can combine three technical screens at the same time
  • Broad market analysis
  • Regular updated technical analysis scans
  • Intraday notifications via email or mobile app alert
  • Moderate pricing
  • Trade with zero emotions
  • Not suitable for beginners – instead, you could use software such as Algo Signals
  • Screens can be recreated with free charting and screener software
  • Research notes are not constant

Summary

Swing Trade Bot is an average stock screener designed to help traders stay on top of the financial markets. Michael Seneadza designed the software for watching stock price movements and the bot scans the market for important technical developments and notifies you when it is time to take action. The bot will automatically alert you to important technical signals on your stock lists as it tracks all the stocks on your Watchlist and portfolio. The Bot also helps users to find strong stocks to buy and it will let you know when to short sell weak stocks. With the Swing Trade Bot, users find it easier to know when to enter and exit trades. It also helps people to trade like robots, based on technical information, and this eliminates emotional trading and ensures you trade with only a conventional view of the market. The platform is easy to navigate, but it is best suited for expert traders and not beginners. The customer support team is non-existent which is not a good thing if you have questions or require assistance. Overall, the Swing Trade Bot is an average stock screener that gives you an added advantage when it comes to stock trading.

Rating – 8/10

Dov Herman