TC2000 Review
- Ease of Use
- Quality
- Value
4.5
Summary
TC2000 is an advanced trading platform and broker designed for trading stocks and options. This platform’s software is highly customizable and allows for the building of custom strategies, chart workspaces, and indicators. TC2000 also includes charting and technical analysis, options trading, trade management tools, a stock screener, alerts, and more. Learn everything you need to know about this trading platform and brokerage by reading our full TC2000 review.
Pros
- Supports multi-leg options orders
- Visualize open trades on your charts
- Manage order exits with complex conditions
- Integrated stock scanner with built-in screens
- Highly flexible workspaces
Cons
- Expensive software, data feed, and brokerage fees
- Mobile app isn’t user-friendly
About TC2000
TC2000 is an advanced trading platform and brokerage firm for trading stocks and options. The TC2000 trading platform offers numerous features for trading directly from your charts and keeping visual tabs on your open positions. The software is highly customizable and enables traders to build custom strategies, chart workspaces, indicators, and more.
In our TC2000 review, we’ll take a closer look at this stock and options broker and its trading platform to help you decide if it’s right for you.
TC2000 Pricing Options
TC2000’s trading platform is available in three subscription tiers: Silver, Gold, and Platinum. The Silver plan costs $9.99 per month or $99 per year and only includes access to TC2000’s basic charting capabilities.
The Gold plan costs $29.99 per month or $299 per year and offers features like a stock and options screener, watchlists, alerts, and condition-based order management. The Platinum plan costs $89.98 per month or $899 per year and includes historical data for backtesting.
TC2000 requires users to purchase data feeds for real-time data. Real-time US stock data costs $14.99 per month, options data costs $9.99 per month, and index data costs $9.99 per month. Without a data feed subscription, market data speed is throttled, and price data is delayed by 15 minutes.
TC2000 offers a brokerage account (cleared by Interactive Brokers) that integrates with its trading platform. The account is free, but traders will pay commissions of $4.95 for stocks and exchange traded funds (ETFs) and $2.95 for options plus $0.65 per contract. In a market where many competing brokers offer free stock and options trading, this is not very competitive pricing. TC2000 offers paper trading for users without a brokerage account.
TC2000 brokerage customers receive $25 off a Platinum trading platform subscription for every month in which they place a trade.
TC2000 Features
Charting and Technical Analysis
TC2000 is packed with features for chartists and offers amazing technical analysis tools. With this charting software, you can arrange any number of charts for multiple symbols or the same symbol on multiple timeframes. Stock charts are available in intervals as short as one minute, and you can easily create custom timeframes for analysis.
TC2000 comes with more than 50 stock chart indicators, all of which can be customized using the formula editor. You can also create your own indicators using the formula editor and save them to your account. Sets of indicators can be saved to a chart template for quick reuse. The charts also include a wide range of drawing tools such as Fibonacci retracements, pitchforks, channels, and more.
Options Trading
TC2000 supports options trading and comes with 25 built-in options trading strategies. These strategies can be customized using a simple wizard tool. You can also create your own multi-leg strategies within TC2000 and view current options chains directly in your charting window.
Trade Management
Perhaps the best thing about TC2000 is its tools for managing your open orders. TC2000 offers several customizable trade management windows that you can use to see your open positions and their current profit or loss. The platform enables you to place limit orders simply by clicking on your charts.
Once an order is opened, the entry point is displayed on the chart. If you add stop loss or profit targets, those are also visible on your charts. For options orders, TC2000 adds green and red overlays onto your charts to show profit and loss at different price ranges.
Importantly, TC2000 also enables you to set up exit conditions for any position. These can include not only stop-loss and take-profit conditions, but complex conditions that incorporate technical indicators. So, for example, you can set up a condition such that your position in a stock is automatically closed if the price breaks above a Bollinger Band and remains above it for three bars.
There’s no limit to the number of conditionals you can apply to a position. TC2000 will automatically cancel any remaining order conditions once one is triggered.
Stock Scanner
TC2000 offers an easy-to-use stock scanner. It comes with a number of pre-built scans for pre-market gappers, high-volume stocks with momentum, and other common setups. You can access the formula for any of these premade scans to customize them.
Of course, you can also create your own scans from scratch. TC2000 offers access to all of the technical indicators available on the platform. You can also build powerful fundamental stock screeners using a wide range of valuation and balance sheet metrics. There is no limit to the number of technical and fundamental analysis filters you can add to a scan. You also have the option to apply scans to individual watchlists or sectors.
Industry and Sector Analysis
TC2000 offers a pre-made workspace for drilling down into individual market industries and sectors. This workspace displays performance data for all major industry index symbols in one window and a list of stocks for a sector of your choosing in another. It’s a fast way to monitor how different market sectors are performing on any given day and demonstrates how TC2000’s flexible workspaces and be put to work to help you trade more effectively.
Alerts
TC2000 enables you to set up custom price alerts or condition-based alerts for any stock. Gold users can have up to 100 active alerts, while Platinum users can have up to 1,000 active alerts.
TC2000 Customization and Layout
TC2000 is available as a desktop platform for Windows and Mac, as a browser-based platform, and as a mobile app for iOS and Android devices. The platform works similarly across all of these interfaces. It can be somewhat difficult to use the mobile app since there are so many features packed onto a small screen.
It’s hard to overstate how flexible TC2000 is and how central that flexibility is to the platform’s functionality. TC2000 comes with half a dozen built-in workspaces, including a trading workspace with order management tools, a full-screen chart workspace, and the sector drill down workspace.
You can also create as many custom workspaces as you want, and the software provides templates to help you get started. You can have workspaces dedicated to individual stocks or market sectors as well as workspaces dedicated to specific trading strategies or setups. Within a workspace, you can add as many panels as you want and resize and rearrange them at will.
TC2000 also lets you set up an unlimited number of watchlists. You can sort and scan these watchlists, as well as build custom tables to display fundamental data.
TC2000 Compatible Brokerages
The TC2000 trading platform only offers live trading if you use TC2000 as your brokerage. You cannot connect to other brokerages through this software. If you do not use TC2000 as your brokerage, the platform only supports paper trading.
TC2000 Platform Differentiators
TC2000 is a very powerful trading platform for stock and options traders. It offers a level of flexibility that few charting platforms can match, enabling traders to create whatever workspaces they need to trade effectively. The visual order management tools and customizable exit conditions also contribute to TC2000’s usefulness for traders who want to carefully manage their trades.
What Type of Trader is TC2000 Best For?
TC2000 is best for day traders who trade stocks and options. The trading and charting platform offers excellent tools for short-term technical analysis, intraday trade idea generation, and real-time order management. For options traders, TC2000 stands out for its simple multi-leg options order tools and for its chart overlays showing profit and loss zones for open options trades.
While TC2000 has a lot to offer, it’s worth noting that there are other trading platforms that include similar feature sets and cost significantly less. Thinkorswim from TD Ameritrade, for example, enables traders to build custom indicators and offers a scanner that’s similar to the one in TC2000. Thinkorswim offers live stock and options trading through TD Ameritrade, which charges no commissions on stock trades and doesn’t charge data feed fees.
So, TC2000 is best suited for stock traders who can take full advantage of the platform’s customizability. Traders who don’t need all of TC2000’s bells and whistles may be able to find similar, but much less expensive trading tools elsewhere.
