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ChatterQuant Review – Is This Platform Right For You?

By Dave

Last Updated

ChatterQuant Review

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ChatterQuant Review

  • Ease of use
  • Quality
  • Value
3.5

Summary

ChatterQuant is a crypto trading tool that keeps track of mentions of stocks, cryptocurrencies, and foreign exchange rates on social media. The software also monitors sentiment on Reddit and Twitter to assist traders in spotting when an asset is going to see a significant change. Is this platform right for your trading needs? Find out by reading our in-depth ChatterQuant review.

Pros

  • Track social sentiment for stocks, forex, indices, and crypto
  • Monitors Twitter and Reddit (TikTok and YouTube forthcoming)
  • Heatmap shows fastest-moving keywords
  • Shows how much social activity is driven by bot accounts

Cons

  • Expensive compared to other social sentiment analysis tools
  • Does not offer customizable dashboards or watchlists

ChatterQuant is a market analytics platform that monitors stock, cryptocurrency, and forex mentions across social media. The platform tracks Twitter and Reddit sentiment to help traders identify when an asset is about to make a big move.

ChatterQuant is especially useful for crypto traders since crypto price movements are often heavily dependent on social activity. However, the platform may not have as much utility for stock traders. In any case, ChatterQuant’s platform is very limited in scope compared to most real-time stock research and technical trading platforms.

In our ChatterQuant review, we’ll take a closer look at all of this platform’s tools and features.

ChatterQuant - Homepage

ChatterQuant Pricing Options

ChatterQuant offers a single plan that costs $99 per month or $990 per year. You can try out the platform free for 7 days (credit card required).

ChatterQuant - Pricing

ChatterQuant also offers API access. You must contact the company for a custom quote.

ChatterQuant Features

Social Mentions Overview

ChatterQuant monitors mentions of financial assets, including stocks, forex, indices, and cryptocurrencies, on social media. The platform mainly monitors Twitter and Reddit, but it also tracks social forums like WallStBets and ShortSqueeze. ChatterQuant plans to roll out monitoring for YouTube, TikTok, and market news outlets in the near future.

ChatterQuant - Asset Overview

ChatterQuant’s asset overview panel provides a simple overview of the most-mentioned assets. You can filter the feed by asset type, sentiment score, or percent change in mentions on daily, weekly, or monthly timescales. The platform also tracks how the relative ranking of each asset in terms of social mentions changes on daily, weekly, and monthly timescales.

Keyword Research

Diving deeper into the data, you can view a heatmap of specific keywords that are experiencing spikes in mentions. A table shows the overall most-used financial keywords as well as what assets they’re being discussed alongside.

ChatterQuant - Keyword Research

The keyword data can be interesting, but you need to be willing to spend time looking for nuggets. Unsurprisingly, the most-mentioned keywords are almost always words like “price,” “stock,” “trade,” and “market.” If you sort by daily or weekly rank change, however, you might find specific companies or tickers that have spiked in discussion volume. The heatmap does a good job of highlighting these fast-growing keywords.

Signals Intelligence

Once you’ve found specific companies, tickers, or keywords that are spiking in social mentions, you can analyze the social data in more detail in ChatterQuant’s signals intelligence dashboard.

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You can see at a glance how many of a keyword’s mentions are coming from bot accounts (such as trading signals or price alert bots) versus individual Twitter and Reddit users. You can also see how many unique accounts are behind a keyword’s mentions and whether the sentiment is bullish or bearish.

ChatterQuant - Signals Intelligence

A mini-Twitter feed shows the tweets with the greatest reach and engagement around a target keyword. So, you can quickly see if keywords like “therapeutic” or “metaverse” are talking about the same company or asset. ChatterQuant’s smart portfolio also shows assets that are often mentioned in conjunction with a keyword and assigns them a relatedness score.

Customization and Layout

There’s not much to ChatterQuant, so the platform is very easy to navigate. You can customize the columns and filters for the keyword tables, but there aren’t any other customization options. It would be nice if the platform let you build watchlists for specific tickers, asset names, or keywords, but it doesn’t.

ChatterQuant Platform Differentiators

There’s not much that separates ChatterQuant from other social sentiment analysis services like SocialSentiment.io or Stockgeist for stocks, or Santiment for crypto. All of these platforms are significantly cheaper than ChatterQuant. ChatterQuant does a better job of analyzing finance-related keywords as opposed to only asset names and tickers, but this isn’t enough of an advantage for most traders to make up for ChatterQuant’s higher pricing and lack of watchlists. 

The main benefit to ChatterQuant is that it offers social sentiment monitoring for stocks, crypto, forex, and indices all in a single platform. Other platforms focus on a single asset class.

If ChatterQuant is able to incorporate monitoring for video-based social platforms like TikTok and YouTube, that could give it a significant leg up. These platforms play an increasingly important role in spreading the word about new crypto tokens in particular.

What Type of Trader is ChatterQuant Best For?

ChatterQuant is designed for short-term traders who want to track surges in social media attention to stay ahead of surges in stock, forex, index, or crypto prices. Social media is far from a perfect indicator of upcoming price changes, so traders need to interpret this data cautiously and pair ChatterQuant with a more comprehensive technical analysis platform.

Stock traders may find more utility in a real-time market news service like Benzinga Pro or TradeTheNews. Crypto traders may find ChatterQuant useful since crypto prices are driven by social media activity to a greater degree than stock and forex prices. However, crypto traders should be especially cautious of pump-and-dump schemes or high volatility that are fueled by social media.

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Dave

Dave has been a part-time day trader and swing trader since 2011 when he first became obsessed with the markets. He focuses primarily on technical setups and will hold positions anywhere from a few minutes to a few days. Over his trading career, Dave has tried numerous day trading products, brokers, services, and courses. He continues to test and review new day trading services to this day.

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