WealthCharts Expands Product Portfolio, Positions Itself With Emerging Trends

During the COVID-19 pandemic, the digital transformation in finance accelerated and stock market engagement rose.

Headlines on so-called meme-stocks like GameStop GME led to increased account openings for both brokers and financial insight platforms.

In allowing investors to better act on emerging themes and trends, Benzinga spoke with Rob Hoffman, the CEO, and founder of WealthCharts.

About: Founded by Hoffman, a 30-time Real Money Trading Champion, as well as the founder of Wealth365 and BecomeABetterTrader, WealthCharts is a low-cost, easy-to-use trading platform packed with hundreds of indicators, real-time news, research, and education for investors worldwide.

The company was founded out of the drive to solve a problem — how to provide low-cost access to the quality information institutional investors are commonly afforded.

For a $197 monthly subscription, WealthCharts’ web-based platform leverages deep knowledge, experience, and technology to provide traders access to actionable and manageable signals and setups, right out of the box.

Enhancements: In a conversation with Benzinga, late last year, Hoffman discussed WealthCharts’ core product portfolio which, at the time, consisted of the following:

• WealthFinder: Actionable algorithmic trading intelligence to quickly identify higher probability trade ideas.
• Library: More than $20,000 worth of training content for traders and investors looking to build their skills as active traders and investors.
• WealthThoughts: A social media community for retail traders as well as leading market experts to share their charts and ideas about stocks, options, futures, ETF’s, forex and cryptocurrencies.
• Analysis: Over 150+ indicators, many of which have been created by the most popular traders and investors in the industry with more being added every month.
• Scans: Unusual Options Activity, Ichimoku Cloud, Wealth Strength Index (WSI) are just a few of the many popular scans with more being added regularly.
• WealthCharts Research Team: Curated trade ideas pulled by our analysts from premium signals such as Unusual Options Activity to quickly focus traders into the most relevant ideas.

Since then, WealthCharts has added numerous new functionalities.

Pictured: WealthCharts Options Hunter tool. 

“We added powerful tools, like Options Hunter, a complete unusual options activity finder,” Hoffman said in reference to a tool that enables traders to uncover where the biggest and smartest participants are putting their money.

Through custom filters and scanning features, traders can look for aggressive activity and gauge sentiment.

“There’s like 13, 14 different scans. We also built Options Mapper, so you can take a look at how these instruments rank based on each of those different features — unusual options a million dollars plus, upcoming earnings, expiring soon, aggressive, aggressive with size, and aggressive on the offer.”

In keeping up with new trends in technical analysis, WealthCharts teamed up with experts, adding tools like STARC Bands, the TDT Cycle Indicator, TOP Extreme Index, the Anchored VWAP, and AVWAP Ribbon, as well as an advanced education series and daily, live stream broadcasts.

Pictured: WealthCharts TV and Cloud Scanner.

“It basically takes all the guesswork out,” Hoffman added in reference to traders no longer having to do calculations to replicate their favorite indicators and then scan for setups. “We also have the WealthDashboard where you can set the positions you’re in, and then it will rank them.”

For users that are inexperienced or want more color and engagement, WealthCharts offers social media functionality, enabling access to expert commentary, among other actionable information.

Outlook: Given WealthCharts’ commitment to differentiation and value, subscription prices increased.

“We’re putting a lot of power in the hands of the little guy,” Hoffman noted. “We’re in the process of refactoring the entire platform, as a whole, to make everything super fast. Then, we’re going to put a lot of these features on mobile.”

Hoffman said that the pandemic was a boon for his platform. Now that many self-directed investors are going back to work, WealthCharts is interested in allowing those users access on the go.

Additionally, WealthCharts is looking to address the emerging need for insights around SPACs and non-fungible tokens (NFTs).

“The goal is to make production even faster and bring more features to people if we don’t already have them.”