Metastock has won the best technical analysis software under $1,000 every year since 1993, and as a result, many people are looking for free Metastock data.
With Metastock charting software, you can:
- Import data from any exchange straight into Metastock;
- Run pre-defined explorations to scan your market for your criteria;
- Custom build your scanning criteria to hand pick the winning stocks;
- Run back tests of the trading systems you have developed
- Use over 120 pre-built indicators like MACD, stochastics, Bollinger bands; and
- Custom build your indicators like stop losses, ATR% or binary codes
In all seriousness, the depth and functionality of Metastock is incredible and well worth giving a free three-month trial a go.
Is it worth getting free MetaStock data?
Of course, once you buy Metastock you will need Metastock data, and this is where you need to be careful.
Depending on where you buy Metastock, you might be able to get data from them. At the very least, you can give Metastock a trial and take advantage of free MetaStock data from them.
Also, there will be some suppliers of free MetaStock data, but this may not be a good idea. Obviously, the ‘price’ is right but is it going to give you the accuracy you demand to run a professional portfolio.
The quality of your Metastock data is critical if you are going to be trading the markets long term.
If you do any form of system testing or market scans, then this becomes even more critical so choose your Metastock data supplier carefully.
Every professional trader who uses MetaStock will tell you how important the quality of your MetaStock data is. Your data is the most important part of your business.
What are the problems with free MetaStock data?
Sure you can get free Metastock data, but there is a reason it’s free.
It has errors.
Also, you want to make sure your MetaStock data supplier cleans and adjusts the data for mistakes.
To cut costs, many MetaStock data providers don’t do this.
So you might be wondering, how many errors could there be on a daily basis?
Some MetaStock data providers have errors every day
Here a selection of what a Metastock data provider needs to keep on top of:
- Code changes
- Name changes
- Deferred settlement history merges
- Capital returns
Metastock Data errors can drastically change your results. Click here to see what effect dodgy free Metastock data can have on your results
Do you need to backtest your trading systems before going live?
The answer to that question must be a resounding YES.
You absolutely must test your ideas and trading strategies before you go live.
Unfortunately, if you have inaccurate Metastock data, then your backtesting results will be wrong. This could cost you a lot of money when you start trading your systems live.
With inaccurate Metastock data, it would not be unheard of to get an entry signal for a trade you should never have entered. The only reason the signal appeared was due to inaccurate data.
Ok, but I’m keen to get some free Metastock data
Wow, you don’t let up, do you? Just kidding.
Here are three places you can go online to get free Metastock data.
- The first place you can get free Metastock data is asxhistoricaldata.com. What I like about these guys is their honesty. They let you know their data is not adjusted for stock splits, corporate actions and dividends. You see this costs money and cannot be managed in a free data service.
- The next place you can get free Metastock data is eoddata.com. This site is a little more comprehensive, supplying some fields for many exchanges around the world. There is a drop down menu giving access to 30 different exchanges, allowing you to download their free data direct into your Metastock. Not only that, but they have a wide variety of file types available too. Pretty impressive really.
- The third place to get free MetaStock data is for those who don’t currently have Metastock. The best option is to download a 30-day free trial and subscribe to 30 days of free data on your preferred exchanges.
So who do the experts go to for their Metastock data?
Previous versions of Metastock allowed you to download or access your data, including the free stuff. Then version 13 of Metastock put an end to that, requiring a subscription through their datalink services.
However, Metastock had quite a backlash from existing owners who thought that was a little rude. As a result, Version 14, their latest and greatest, has data provided through Metastock but also the ability to download your own.
Here are two of the best MetaStock data suppliers in 2017
The first Metastock data provider is Premium Data.
Premium data, sometimes known as Norgate Investment Services, is well renowned in Australia for providing clean, accurate and fully adjusted Metastock data.
Further to this, the owner is an active trader just like you. As a result, he relies on the accuracy of his data to run system tests over the last five to ten years of historical data.
Why Premium Data?
As a result of their commitment to quality data, we are happy to recommend them. Norgate Investor Services initially started out as a consulting firm to the futures industry way back in 1992 and through demand for accurate data, established their data service in 1999.
Apart from the fact the owner relies on accurate data for his system tests, they also have a client base of dedicated system testers.
When these active traders find an error or a pricing mismatch or any data that is not quite right, they report it to Premium data.
This process is to benefit all traders who are diligently running system tests across multiple exchanges. You find an error, you report it, they fix it, and everyone wins.
Key advantages to using Premium Data for your Metastock Data
They provide a comprehensive range of data for:
- Stock Exchanges
- USA – AMEX, NASDAQ, NYSE, OTC-BB, Pinksheets
- Futures Markets
- 86 highly liquid futures markets
- Aust: SFE
- Asia: HKEX, KSE, SGX,
- Canada: Mx, WSE
- Europe: Eurex, ICE Futures Europe, LIFFE
- US: CBOT, CME, COMEX, KCBT, NYMEX, ICE Futures US
- Foreign Exchange
- 82 Currency pairs on an End of Day (EOD) basis
- World indices are provided free with every subscription
- Free 3 week trial with historical data
- One click download program custom built.
Pre-built custom folders for all your CFD traders out there
The most useful tool you’ll find is how they provide a comprehensive range of pre-selected custom folders.
Premium data conveniently organises many of the best CFD brokers group of stocks into convenient folders.
When you want to run an exploration or system test, you have the basket of securities for your preferred CFD broker.
This will save you hours of manual data entry of putting each stock into a folder one by one. I know because I had to do this several times before.
How convenient is that?
If you don’t already have a Metastock data provider then give Premium Data a trial and if you are currently using someone else, then make an informed decision and make the switch today.
Option two for quality Metastock data
The second option is by far the easiest and the one we now use.
We just subscribe to the biggest and best in the world. Metastock.
Pure and simple, it is in their best interest to make sure your trading experience is first class.
So many traders have complained over the years about dodgy data that they decided to come to the party.
Metastock offers both end-of-day and real-time data options.
The two options Metastock has available are:
- Metastock Xenith
Datalink has everything you need at ultra-competitive prices.
What exchanges do they offer and what are their prices?
The real beauty of datalink for Metastock is the simplicity of their offering.
- North/South American Stocks & U.S. Mutual Funds are $24.95/mo or $240/yr
- European Stocks are $24.95/mo or $240/yr
- Asian Stocks are $24.95/mo or $240/yr
- Worldwide Futures (includes Forex data) are $24.95/mo or $240/yr
- Worldwide Indices are $9.95/mo or $95/yr
- Click here to view the full list of exchanges offered through Datalink.
As many of our website visitors are from Australia (me too), you will be pleased to know our ‘small’ exchange is covered. Phew.
The real core to their offering is the backup and support. You get access to unlimited technical support. As a trader, you want this sort of guarantee and backup. You want to get your Metastock and data issues sorted ASAP. They can do it.
You can see their offer excellent flexibility with pay by the month or yearly, with the annual data fee earning you a discount.
What happened to Equis International and Metastock?
Many of you may have run a search for the company name Equis International.
Equis used to be the owner of the trademarks and rights to Metastock.
As of May 1, 2013, Equis International was acquired by Innovative Market Analysis LLC.
You will no longer hear of Equis International going forward.
In 2017, Metastock is now owned by Innovative Market Analysis LLC.
Hopefully, you have found the information on Metastock and free Metastock data helpful. If you have any resources you’d like us to mention on this page, email through at info [at] learn CFDs [dot] [com].
All the best with your trading.