Stock investments are a great way to make some side income or pursue a full-time career. No matter where you fall on that spectrum having some tools at your fingertips can help you get closer to your goals.
Many companies on the web boast about having the best features, but they can be quite different.
The Stock Dork peels back the layers of these companies to let you see which ones work and which fall short.
This ChartMill review covers the platform and all the tools it brings to the table.
ChartMill Review: Overview
ChartMill.com is an online platform with powerful stock screeners, reports, and charting tools to help users get an edge on the market and maximize profits.
The trade research platform has an interesting system of using credits to access certain trading features. Each feature or tool has a specific credit value that must be paid in order to perform a scan, view a chart, or even save a watch list.
The site awards 6000 free credits each month, which may be enough for new day traders to get their feet wet. More experienced investors will want to pick up the premium subscription in order to access unlimited use of ChartMill’s tools.
ChartMill Review: What Is ChartMill?
Predominantly a stock screening platform, ChartMill comes equipped with several tools that help point users in the direction of on and off the radar stocks that are set to take off.
It takes no more than a minute to create an account and get started. The platform starts users off with 6,000 free credits they’ll receive each month.
There are tons of filtering options that cover areas such as volume, industry, and sector. This makes it easy for traders to find the best stocks to trade. ChartMill even has its own rating system for more effective searches.
ChartMill Review: What’s Included with ChartMill?
ChartMill doesn’t skimp when it comes to tools that can be used to discover the best investment opportunities. Their services include these tools:
- Stock Screener
ChartMill Review: Stock Screener
The ChartMill stock screener allows traders to search multiple markets to find stocks to trade.
The stock screening tool gives users access to technical indicators and fundamental screens to dive as deep into the market as they desire. These features are essential in locating those stocks that are ripe for growth.
Technical analysis filters look at things like volume increase, volatility, candlesticks, and trending stock data.
Fundamental analysis filters track more qualitative data such as revenue growth, price, operating margin, and other filters specific to ChartMill.
Within the stock screener, traders can even create custom filters based on any available stock property.
ChartMill makes it easy to save screener configurations so users can access them quickly next time.
Without a premium subscription, these screens can eat through credits rapidly though.
The watchlist feature helps tie all of Chart Mill together. This software tool allows traders to earmark their favorite stocks and revisit them at any time.
Watchlists can be customized with alerts or indicators, so traders are made immediately aware of significant changes in value.
Thanks to these alerts, investors can keep a close eye on volatile stocks without having to stare on the website all day.
ChartMill even provides daily watchlists on stocks that are seeing strong breakouts or huge drops. This is an excellent way for newer day traders to get ideas for a new investment strategy.
When day traders want to track the performance of a stock over a specific time interval, charts is the place to go.
A trader can see how the price of a stock has changed over the course of a day, week, or even the past month.
There are several chart options, including line, bar, and candlesticks, to monitor stock value. Investors are not limited to just one chart per screen. Whether running basic or advanced charts, users can view multiple charts side by side for comparison.
It’s simple to use technical indicators to filter chart screens, allowing users to focus on specific trade data. There is a long list of technical indicators to choose from and no limit to the amount that can be added to a chart.
It’s even possible to pull in watch lists for viewing pertinent stock trading data at a glance.
Here, as with the stock screener, traders can save a chart configuration for easy viewing in the future.
Viewing charts uses credits and can deplete a trader’s supply quickly. Fortunately, the premium subscription allows for unlimited charting.
Traders are able to place alerts right into watch lists or on charts they’ve created. Alerts can be put in place for a multitude of things including price, condition, or by setup.
When an alert is triggered, traders can be notified through a pop-up, email notification, or even by audio alert.
The ChartMill stock analyzer is a beefy tool that traders can use to view a comprehensive amount of information on the stock of their choice.
The tool gives a detailed list of both fundamental and technical information through a series of reports and charts.
This information is updated every day by the team at ChartMill, so this research can be used to develop a solid investment strategy.
At the top of the site, ChartMill shows a list of stocks that could potentially see huge gains.
Each one can be selected to bring up a full report for that particular stock.
ChartMill assigns each stock a technical rating value (out of 10) with a summary explaining why such a rating was given.
For example, stocks that are higher risk will show lower numbers.
Traders will also find graphs that document support, resistance, and setup analysis.
Jumping over to a fundamental analysis reveals a fundamental score and an explanation summary of the rating. The fundamental analysis then breaks down this score into components such as profitability and growth.
Just one report takes a serious amount of credits, so users without a premium account will want to think carefully before using this service.
Is ChartMill Legit?
ChartMill is a legitimate platform and offers several free services for users to check out.
The platform is not a trading service, so your brokerage and financial account information aren’t at risk of being compromised.
Is ChartMill Reliable?
ChartMill’s analyzer uses a software algorithm to search stocks and provide each user with ideas for investments.
The platform has even developed its own rating system with a detailed explanation of each score.
These ratings make it easy to locate stocks with significant profit potential and which ones to stay away from.
ChartMill offers detailed reasons for each score to further back up their assessments.
ChartMill Cancellation Policy
ChartMill makes it easy to cancel at any time by terminating your recurring payments. At the end of your billing cycle, the service will revert to the free model, where you will receive 6,000 credits to use each month.
The company does make it clear that there are no refunds for their services.
How Much Does ChartMill Cost?
ChartMill has a unique model where each action a user takes costs a certain amount of credits. For example, creating a basic watch list counts for 10 of them.
The site gives day traders 6,000 free credits to use each month, but these credits do not last long. The average trade report costs 500, so those credits add up fast.
It is possible to buy 10,000 extra credits for $10, but there is limited value in doing so.
Instead, ChartMill has a premium subscription that does away with the credit system altogether.
Within the premium service, investors receive unlimited access to all the site’s tools.
This includes stock screeners, technical and fundamental stock reports, watchlists, saved settings, charting, and everything else ChartMill has to offer.
Premium users will also be able to use ChartMill’s features without dealing with annoying advertisements.
There are two account options for the premium subscription.
A monthly membership costs $29.97 per month and is prepaid.
Alternatively, investors can enroll in a yearly subscription for $259.97 per year, or an average of $21.66 per month. At the end of the day, this is the best value at 28% off the monthly rate.
ChartMill Review: Pros and Cons
Several features make ChartMill stand out as a service. Here we look at the things they do well and the areas the company can stand to improve.
- Detailed and powerful built-in stock screener
- Several filter options for screeners and charts
- Affordable premium subscription allows unlimited platform use
- Search through over 6,000 different stocks
- 6,000 free credits each month
- All information saved online
- Ability to save screens and charts
- Multitudes of technical indicators for reporting
- Settings are kept online and accessible from anywhere
- Covers US and Euronext markets
- Several customizable settings
- Free monthly credits can run out quickly
- No mobile app
- Quote data is delayed by 15 minutes
ChartMill Review: Is ChartMill Right for Me?
The service shines for the gambit of day and swing traders looking to get a one-up on their investments.
A user who is just beginning to trade can use the credit system to start as slowly or quickly as they want to.
Most investors will want the platinum version of the ChartMill platform that offers full platform functionality.
Unlimited access to the analyzer, screener, and charts for a reasonable monthly fee will give these traders all the flexibility they need to learn how to succeed with trading.
ChartMill Reviews by Members
Here are a few recent reviews from members:
Interesting explanation of setups and ease of use, most screeners don’t explain much whereas ChartMill I feel has the potential to be a great tool.
-Mike, on Facebook
Great tool, with some really helpful applications and different criteria, that, in my opinion, could be a little more customizable. For example the market cap, it would be great if one could input a number, and it was filtered by this number, instead of the dropdown list.
-Henrik, on TrustPilot
Final Review: Is ChartMill Worth It?
At under $22 per month, you’ll be hard-pressed to find a reason not to sign up.
ChartMill’s tools, coupled with the site’s easy accessibility, make it a game-changer in the stock scanner space.
A large number of filters and customization options allow you to make the platform your own. You’ll be able to focus only on what matters to you.
ChartMill takes a lot of the guesswork out of hunting for that ideal stock. Their proprietary rating system for breakout stocks offers even the newest trader a good place to start.
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