Features of TC2000

As part of our TC2000  review, here are some exciting features of the broker that you should know:

Charts

We were drawn to reviewing TC2000 primarily because of its exceptional stock charts. While TC2000 boasts various impressive features, its primary function is providing top-notch charting capabilities for stock traders. The charts offered by TC2000 stand out for their simplicity, extensive customisation options, and intuitive interface. Although they may initially resemble charts found on other platforms, TC2000’s charts surpass the competition in robustness and usability.

User Interface

TC2000 is a widely favored platform for analyzing stocks and options due to its comprehensive charting tools and analysis features. Among its highlights is the EasyScan screener, which swiftly sifts through thousands of stocks using high-speed servers. Beginners benefit from its risk-free practice environment through the fully operational trading simulator. Additionally, its integrated journaling feature aids in tracking progress. TC2000 has earned recognition as a top trading platform from esteemed sources such as Stocks Commodities Magazine and Warrior Trading, underscoring its credibility and popularity among traders.

Organize Elements With Tabs

One standout feature that users find highly convenient is the ability to use tabs similar to those in a typical web browser. Even more helpful is that these tabs can be filled with a wide range of market information. For instance, you could have one tab displaying stock data, another for options, and one for various time frames or watchlist scans. This versatility allows for efficient navigation and organization of market data, enhancing the overall trading experience.

This offers a clear glimpse into various markets without crowding the screen with too many charts. When checking markets at a glance, numerous software programs and traders need help maintaining a neat layout. Separate tabs to organize all the essential data are widely adopted for good reasons. For novice traders, starting with a default template and gradually customizing it is a practical approach.

Data Box and Change Symbol

A notable aspect is the data box at the chart display’s top left corner. With a simple click of your cursor on any point within the chart, you gain access to a plethora of information. This includes the return over time, the annualized return, and essential data points such as open, high, low, close, and various indicator values.

The Change Symbol screen is a nifty feature we’ve integrated to enhance user experience. It pops up as soon as you start typing, just like on TradingView. For instance, if you’re looking at an AMZN chart and start typing, the Change Symbol window will appear, letting you swiftly switch to another chart. While it may seem like a tiny time-saver, it’s quite a handy convenience.

EasyScan Scanner

We love EasyScan because it allows you to customize how the stocks in your scans compare to another security or group of securities based on specific criteria. Let’s say you’re scanning stocks in the Russell 2000 ETF from iShares; with EasyScan, you can rank the top 10% of these stocks according to their performance compared to all US stocks. You can then continue refining your selection until you find just a handful of stocks that have significantly outperformed the market. This feature empowers you to pinpoint the best-performing stocks with precision and ease.

One area of concern for the EasyScan module is its exclusive focus on historical condition testing without providing full backtesting capabilities. While it allows users to observe the outcomes a scan would have generated under previous conditions, it cannot assess the performance of a custom trading strategy across a historical timeframe. Thus, while it offers insights into past conditions, it needs to evaluate the effectiveness of tailored trading approaches over time.

Stimulated Trading

TC2000 provides a comprehensive trading simulator within its charting platform, allowing you to experiment with different strategies without putting actual money at stake. This simulator will enable you to reset your practice trading account whenever needed and grants you access to the complete set of technical analysis tools available for live trading. With TC2000, you can hone your skills and refine your trading approach in a risk-free environment.

Platforms

Initially developed as a desktop application, TC2000 has expanded its horizons by introducing web and mobile platforms compatible with iOS and Android devices. While these platforms boast similar functionalities to the desktop version, some users may experience slight sluggishness. We suggest prioritising the use of TC2000 as a desktop application and reserving the web or mobile platforms for charting when necessary. Doing so can optimise your user experience while retaining the flexibility of accessing charts on different devices.

Brokerage Accounts

TC2000 provides brokerage services in collaboration with Interactive Brokers. By opening a trading account with TC2000, you gain the advantage of trading directly from their charts and utilizing various sets of indicators for automated trading.

While TC2000 doesn’t impose account fees, its commission rates are relatively high. Stock and ETF trades cost $4.95 per transaction, whereas options trades are charged $2.95 per trade plus an additional $0.65 per contract. Given the abundance of brokers offering commission-free trading for stocks, ETFs, and options, these fees might be challenging for many day traders to accept.

Pricing 

Presently, there are three distinct pricing tiers to choose from. The Silver package, priced at $9.99 monthly, grants users access to customisable chart layouts, watchlists, and notes. For a monthly fee of $29.99, the Gold option offers access to all fundamental features. Meanwhile, the Platinum tier, priced higher, unlocks all functionalities, such as historical testing and up to 1,000 tracked alerts.

Given the significant variance in pricing among the Platinum, Silver, and Gold tiers, it’s advisable for users to carefully assess all features before making a subscription decision. However, those who view trading as more of a hobby than a part-time business may find the Gold version suitable.

In our TC2000 review, we’re diving into features that might appear minor at first glance. However, it’s important to note that charting software has become quite common, with numerous real-time platforms available. What sets TC2000 apart is its attention to detail, enhancing the trading journey from decent to exceptional. Let’s face it: if you need to pay attention to the finer points of charting platforms, why bother reading a review?

We firmly believe that giving TC2000 charts a shot is worthwhile. Seeing firsthand is thinking trying out this charting software is an experience you won’t regret. Take it for a spin and see the difference for yourself.

TC2000 Indicators

Check out the TC2000 indicators that we found impressive and worth using.  

Formulas

With TC2000, you can incorporate custom formulas such as (Volume divided by 5-bar average volume multiplied by 100) and utilize them for indicators or to trigger alerts. The indicator showcased in the image examines the average volume across the preceding five price bars.

Relative Strength

Relative strength is our preferred indicator, primarily due to its simplicity and effectiveness. Unlike many other indicators that rely on complex calculations using OHLC data, relative strength simply compares the performance of one security against another. Surprisingly, this indicator must be included in numerous charting packages, making it a valuable inclusion in TC2000, where it is flawlessly implemented.

TC2000 offers convenient features like preset stock indices that can be easily toggled on and off, saving valuable time for users. Additionally, there’s a user-friendly checkbox for Sector/Industry symbols. Unlike other platforms where navigating to specific sectors can be cumbersome due to variations in industry index symbols, TC2000 streamlines the process with its straightforward checkbox option, eliminating potential hassles for users.

Who is TC2000 Best For?

TC2000 stands out as the top pick for day traders. It offers a comprehensive suite of features tailored to their needs. One notable advantage is its support for floating windows, which is particularly beneficial for day traders who utilize multiple monitors—sometimes up to five. Another standout feature is EasyScan, which proves invaluable for momentum-based day traders. Swiftly pinpointing stocks meeting specific criteria, whether performing exceptionally well or poorly, is essential for effective day trading. Moreover, TC2000 boasts an array of supplementary trading tools within its software, further enhancing its value proposition.

The trading software becomes exceptionally handy when paired with a TC2000 brokerage account, allowing seamless trade execution within the platform. Moreover, users can harness automated trading functionalities for added ease. Regrettably, the software currently lacks integration with alternative brokerage services. While TC2000 is our top pick for traders, not all features effectively cater to investors’ needs. Furthermore, this platform solely facilitates trading in stocks and options; hence, its applicability for forex, futures, and cryptocurrency traders remains entirely restricted.

Pros and Cons of TC2000

Every trading platform comes with advantages and disadvantages. Let us examine some of the pros and cons of TC2000.

Pros 

• The charts stand out significantly within the industry due to their unparalleled quality.
• The team’s meticulous attention to detail and genuine passion set their software apart from many others released by leading brokerage firms.
• The scanner is perfect.
• In terms of CPU and memory usage, it’s remarkably efficient for its application category.

Cons

• This platform solely caters to stocks, excluding currencies, futures, and cryptocurrencies. 
• Its desktop interface poses a challenge for users who favor web-based platforms. 
• It lacks the feature for backtesting trading strategies.

Final Thoughts

Worden Brothers Inc. offers a user-friendly charting software called TC2000, designed for day traders and budget-conscious investors. This tool prioritises robust charting capabilities and real-time trading of stocks and options. With many features, TC2000 caters to those seeking a comprehensive trading experience. Notably, beginners benefit from its integrated paper trading account, which allows for risk-free practice sessions day after day. This feature-rich software empowers users to hone their skills without financial exposure. 

We hope that our TC2000 review helps you make better financial decisions!