PROS / Worden provides a fair amount of information online and they provide in-person seminars.
CONS / Product outdated, many website links do not work properly and training material is not up-to-date.
VERDICT / Worden offers good, free live seminars that are worth checking out, but the stock charting software and accompanying help documentation needs to be updated.
Editor's Note: This review has been removed from our side-by-side comparison because it no longer ranks as a top 10 product. The original review is below, but check out our current top 10 about Day Trading Software here.
TeleChart is a charting platform offered by Worden Brothers, Inc. They provide many live seminars in a variety of major cities. They also post webinars on their website to help users utilize their program and learn about using charts and indicators for successful trading.
We found the online training for this day trading software and their website to be quite dated. On the home page of their website they have their product referred to as TeleChart 2007 and many of their training demos are dated 2004. Even their website is dated 1997-2007; this implies that they have been in the trading software business for some time now but perhaps have not updated their product in the last few years. In addition, their site has some misleading links; when “TeleChart Pricing” is clicked, it goes to a product comparison page without pricing.
TeleChart comes in two versions, the Gold Suite and the Platinum Suite. The Gold Suite is offered at about $40 per month or $400 per year, the Platinum is about $100 per month or $1000 per year.
TeleChart does not offer nearly as many charting tools as our higher ranked products; however, they do offer backtesting, drag-n-drop indicators, scans, watch lists, alerts and more. This day trading software also supports custom layouts, indicators and rules. The charts are easy to read and understand, but the actual interface seems dated.
This is the area that TeleChart seems to be most focused on. However, the Gold Suite does not offer as much in this area as the Platinum. To get a high volume of relevant and up-to-the-minute market news, you have to purchase the Platinum Suite. With the Platinum Suite, you can get real-time news and analyst commentary from over 40 sources, trend alerts from FreeStockCharts.com, data feeds, live audio charts and chat, streaming charts and much more.
The Gold version requires that you conduct your own trades in the areas of your interest, but mostly works best with stock trading as opposed to Forex and others. The Platinum version works directly with TD AMERITRADE, optionsXpress and Interactive Brokers. If you have the Platinum version and use one of these brokers you can track your investments live through the software and buy/trade whatever these services offer. For example, if you use optionsXpress you can buy/sell stocks, options, mutual funds and ETFs.
Currently, TeleChart day trading software can send SMS alerts via Twitter. They do not offer cell phone specific tools for their software.
Worden offers many useful webinars, videos and if you sign up for the Platinum Suite, live feeds and current market news. However, TeleChart 2007 day trading software is dated and cannot compare to some of the higher ranked products such as MultiCharts or eSignal.