WealthCharts Debuts Next Generation Trading Platform, Expands Product Suite

WealthCharts, a low-cost, high-value, and easy-to-use trade-finding platform packed with hundreds of indicators, real-time news, research and education for investors worldwide, has announced an expansion of its flagship platform.

As part of the development, Benzinga spoke with Rob Hoffman, the CEO and founder of WealthCharts.

The Context: In light of the pandemic, consumers have taken a more active role in the management of their financial futures than ever before, with one-third of Americans saying their financial discipline has improved over the pandemic.

Retail traders and investors are seeking at-a-glance analysis, as well as best-in-class education and data resources.

That’s according to Hoffman, who says over 73% of his customer base became annual members during the pandemic.

“It is a charting and automated algorithmic analysis platform all in one,” said the 30x Real Money Trading Champion. “It’s a simplified way to help traders quickly identify trade ideas, especially when we’re all short on time.”

After more than a quarter-century of trading the markets, Hoffman said he sees traders and investors struggling most with a lack of direction and understanding.

WealthCharts solves this, he said: for only $197 per month, users get access to thousands of dollars worth of institutional research, education, strategies, indicators, trading and investment ideas as well as alerts.

“We provide all of these data feeds, a research team, and unrivaled customer support at a much more affordable price, all under one roof.”

Updates: Since Benzinga first covered the platform last year, WealthCharts has added hundreds of new features, educational training videos, live event replays, strategies, scanners and indicators.

“The biggest key things are speed, award-winning algorithms, and automation,” Hoffman said of what is most important for customers. “Nobody can match the sheer number of tools, scanners and everything we have on the platform at this price.”

“For roughly 10 months, we’ve continued to build and add onto our existing platform based on user ideas and feedback. But, at the same time, we ran a completely separate development track for the next generation of WealthCharts,” Hoffman said, chuckling. The experience was like running two separate software companies, he said. 

The most recent noteworthy additions to the platform include SectorScanner, FundHunter and WealthScanner.

SectorScanner, using proprietary algorithms, flags stocks and sectors that are in motion and expected to stay in motion, helping users get on the right side of trends.

Unlike standard sector analysis, WealthCharts has built an algorithmic component into its tool that utilizes award-winning technical analysis principles to provide greater insight into developing trends.

Graphic: SectorScanner.

FundHunter tracks IPOs, corporate buybacks, social media mentions, insider buying, short-interest changes, and most recently FDA announcements and drug timelines.

Through FundHunter, WealthCharts’ algorithms look for the most impactful data points, such as tracking the size and aggressiveness of the corporate buybacks, automated analysis to identify the most interesting movements in the FDA’s New Drug Application pipeline and FDA Approval process and notable insider buying and selling investors should consider. It's all aimed at finding stocks primed for explosive volatility.

“This is for people that want to do that in-depth analysis on the back-end, to look for ideas rather than just use a technical indicator that says buy and sell here,” Hoffman said of metrics that can set markets up for explosive growth.

“Up until now, traders and investors have had to hunt down this information themselves across multiple platforms and sources. We’ve brought it all together in one place so you can see all of these factors at the same time and be presented with the stocks showing the greatest number of impactful signals.”

Graphic: FundHunter.

WealthScanner is a culmination of WealthCharts’ fundamental and technical offerings.

“It takes many of the different types of research we offer and combines them together to be analyzed by our intelligent and adaptive trading engine.”

In other words, the insights from OptionsHunter, AlgoHunter and many other tools are piped into WealthScanner, which reviews the data for actionable trade ideas automatically.

“We’re building out extensive logic for the platform to allow you to look at a variety of metrics such as analyst ratings, guidance, recent dividend payments, revenue growth, institutional positions, insider buying and selling, options liquidity and volatility, technical signals and so much more — all to find the top ideas that meet your customized scanning criteria.”

After being presented with prospective trade ideas, users can add them to their watchlist using an intuitive interface. One can either click right to save or left to snooze the trade idea.

“It’s simply the best way to quickly find trade ideas.”

Graphic: WealthScanner.

What To Expect: “We’re just getting started.”

Hoffman said that despite all of the incredible improvements, the cost will stay the same, further strengthening their position as one of the most valuable platforms available on the market today.

Other planned additions include a consolidated cryptocurrency feed alongside more work on integrating additional algorithms that have helped Hoffman win real money trading competitions to further simplify the process for people who have little time to actively trade and invest.

"Whether you’re looking to use technicals, fundamentals, or award-winning algorithms to trade or invest in stocks, options, ETF’s, futures, forex or cryptocurrencies, WealthCharts hands you the ideas using your preferences, complete with its own analysis," Hoffman said. "And that’s only the beginning of what’s available for our users!”