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Toggle Review – Is This Platform Worth Using?

By Dave

Last Updated

Toggle-Review

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Toggle Review

  • Ease of use
  • Quality
  • Value
3.8

Summary

Toggle is a unique platform that uses AI to support the discovery of trade ideas. Toggle employs backtesting to discover connections between market movements and hundreds of fundamental and technical indicators rather than searching for popular technical setups. It then suggests prospective trades using this correlation data. Learn more about this platform by reading our complete Toggle review.

Pros

  • AI-powered backtesting for 35,000+ assets
  • Considers combinations of fundamental and technical parameters
  • Displays accuracy and magnitude of past correlations
  • Every Insight is rated from 5 to 8 stars based on checklist
  • Insight screener enables you to filter thousands of daily Insights

Cons

  • Requires a lot of trust in correlations with asset price movements
  • No tools for technical or fundamental analysis

Toggle is an unusual platform that leverages AI to help you find trade ideas. Instead of looking for common technical setups, Toggle uses backtesting to find correlations between price movements and hundreds of fundamental and technical indicators. It then uses this correlation data to suggest potential trades.

In our Toggle review, we’ll explain how this AI platform’s trade recommendations work and help you decide if it’s right for you.

Toggle - Homepage

Toggle Pricing Options

Toggle offers 3 plans: Basic, Copilot, and Pro.

Toggle - Pricing

The Basic plan is free and offers delayed data for US equities and cryptocurrencies. You’re limited to 10 5-star Insights per month and 10 tickers in your watchlist, with no access to Toggle’s charting tools.

The Copilot plan costs $9.99 per month or $99.99 per year. It offers real-time data for global equities and cryptocurrencies, unlimited Insights, and unlimited assets in your watchlist. It also unlocks Toggle’s charting features.

The Pro plan costs $125 per month or $1,200 per year. It offers data for forex and commodities as well as a strategy backtesting tool.

You can try out the Copilot plan for free for 30 days with no credit card required.

Toggle Insights

Toggle is a unique trade research platform that uses strategy backtesting to identify assets that could move in price. The platform tracks around 35,000 global stocks, more than 400 cryptocurrencies, and commodities and currency pairs.

This isn’t your typical research platform that offers in-depth fundamental analysis and peer comparison. Instead, Toggle uses AI to produce what it calls “Insights” – highly specific trade ideas that are rooted in complex, multi-parameter backtests.

The best way to understand how an Insight works is to give an example. In one Insight, Toggle predicted that the price of Walmart shares would rise roughly 5.44% in the span of 3 months. That’s because Toggle identified that Walmart’s 12-month forward return on assets fell below 7.4 and the company’s price-to-book ratio rose by more than 0.3 in the past 79 days.

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Toggle - Insight Example Part 1

In backtests, Toggle found that these conditions were associated with a median gain of 5.44% over 3 months. Toggle’s confidence in this prediction is high because these specific conditions have been observed 13 times in the past and have been followed by a 3-month net gain 94% of the time.

Toggle - Insight Example Part 2

The Insights are so specific that they could only be generated with the help of AI. Toggle tests hundreds of parameters alone, in combination, and over multiple timescales to see if they have correlated with price changes in an asset. While the example Insight above is based on a pair of fundamental metrics, Toggle also backtests technical indicators. Toggle calculates the percentage of signal hits that have led to price gains (or loss, for bearish signals) and the median gain over 1-week, 2-week, 1-month, 3-month, and 6-month timescales.

Insights are rated with a quality checklist that includes 8 criteria. Criteria include that a signal has been observed at least 10 times in the past, that a signal correlates with a gain/loss at least 75% of the time, and that drawdowns are less than 1.5 times the total return of a signal. Based on the number of criteria an insight fulfills, it’s rated from 1 to 8 stars. Toggle only displays Insights that are 5 stars or better.

Toggle - Insight Quality Checklist

Insight Screener

You can search for any asset in Toggle to see a list of all current Insights. Alternatively, the platform has an Insight screener that allows you to quickly filter the thousands of Insights available at any given time.

Toggle - Insight Screener

You can filter according to whether the Insight is bullish or bearish, how many stars it has, asset type, expected gain/loss, and the types of fundamental or technical parameters driving the Insight. Results are displayed as summary cards that give an overview of each Insight, including the asset, the potential gain/loss, and the parameters driving the Insight.

Paid Toggle users can save an unlimited number of custom screens.

Toggle Charting

Toggle offers basic charts for price and a variety of fundamental metrics. These charts are a little bit underwhelming since you can’t plot multiple fundamental metrics on a single chart or compare fundamentals for multiple assets. The price chart also doesn’t allow you to add technical indicators and you cannot annotate the charts.

The main benefit of the charts is that you can overlay past Toggle Insights on them. For each annotated Insight, you can see what it is and its price target without leaving the chart. This is a nice way to see how, for a single asset, bullish and bearish Insights might conflict or how multiple Insights might suggest a move in the same direction.

Toggle - Charting

Customization and Layout

Toggle enables you to create a single watchlist and to import one portfolio from your brokerage using Plaid. There is no way to add a portfolio manually. You can save an unlimited number of Insight screens.

A personalized dashboard shows assets in your watchlist and portfolio that have new Insights as well as the most popular assets on Toggle right now.

Toggle - Dashboard

Toggle Platform Differentiators

Toggle is a very unique research platform. The Insights the platform offers are only possible with the help of AI, which is able to test hundreds to thousands of parameter combinations for each asset to see what combinations correlate with price changes. Traders can run their own backtests for a single asset, but doing so manually for 35,000 assets is virtually impossible.

Toggle is distinct from trading signals services in that many of the Insights are based on fundamental parameters rather than technical setups. In addition, trade horizons can vary from 1 week to 6 months, which is more time variability than most signals services offer.

Toggle is perhaps most similar to Trade Ideas, an AI-powered stock screener that also runs thousands of backtests to identify potential trades. However, Trade Ideas is much more of a black box that only presents its top-rated trade recommendations. Toggle does limit its recommendations to Insights that earn at least 5 stars, but traders have access to a much wider universe of Insights each day. It’s also worth noting that Trade Ideas starts at $118 per month compared to $9.99 per month for Toggle.

What Type of Trader is Toggle Best For?

Toggle is best-suited for swing traders and medium-term traders who want to act on the platform’s AI-generated Insights. There’s a leap of faith required to use Toggle, since it’s not really possible for traders to do their own analysis using the platform. Either you trust that a correlation will hold since it’s held in the past, or you don’t.

Traders can supplement Toggle with their own fundamental or technical analyses to determine whether they believe an asset will move in the same direction an Insight suggests. However, Toggle doesn’t offer any tools for fundamental or technical analysis, so traders will need another platform for this research.

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Day Trade Review

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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