The other day we we decided to poke around and see what the few names in our space were doing. We are pretty comfortable with our capabilities, but occassionally others have a good idea or two.
What we realized is that we may be the only true cloud-based stock scanner on the market delivered as SaaS. There are no shortage of headache inducing, ad-laden web sites out there like Finviz that provide some value, but they are not really usable day in & out as part of a trading workflow, especially if you trade on your phone some or all of the time.
The others which we visited are, to our suprise, all traditional downloads, which was quite a shock. Today's web-based technologies rival, if not exceed the performance of desktop software. Where in the past, browsers were notoriously slow, recent advancement in past couple of years has browser based solutions delivering high definition streaming at up to 60 frames per second. This is what allows businesses like Netflix (and Mometic) to stream video and data to your browser.
The four we spent some time trying to learn about were Benzinga Pro, Scanz, and Trade-Ideas. For comparison, all of these are atleast $100 month to subscribe, but that is not the point of this post. The point is - why is MOMO the only web based platform?
Benzinga Pro - Update: It is browser based, but limited browser support and no mobile functionality. Price: $$$/mo.
Scanz - Well designed, but modular layout quicly results in windows all desktop. Downloaded client for windows and MacOS. Complicated user verification (requires both email and phone?!) and installation. All Screens need to be defined with limited start up ease. Downloaded platform means updates and no mobile capaiblities. Price: $$$$/mo.
Trade-Ideas - Perhaps the oldest platform and it shows. This is windows only with VM required for even attempting for Mac. UI is not efficiently designed and not particularly visually pleasing. No mobile capabilities which eliminates ability to use on phone or tablet. (note: they do have a mobile extension, but they are really pushing the java through the browser which causes a horrible experience). Price: $$$$/mo.
Stockstotrade - A nice platform - but costly and requires integration with your broker. This could be fine, but is probably frustrating to get everything to place nicely, all the time. Stocks to trade is also a downloaded product and only works on Windows or Mac - so expect regular updates as well as no premarket scanning from your bed on your mobile. Price: $$$$/mo.
Overall - these are generally nice platforms. Trade-Ideas is our least favorite, but in general, we have to think - what is not being provided by brokers which these tools are offering? ThinkorSwim (TOS) can perform all of these things if you want to be stuck to a desktop and to pay $179/mo. is it worth it.
MOMO Pro is only $24/mo and is tailored for flexibility and purposeful insight. Most of the features are not replicated within broker tools and those that do, we are told MOMO Pro is 2-3 minutes faster (ThinkorSwim News vs. MOMO News).
So what do you think? First time hearing of MOMO? Head over to Mometic.com and give us a try. (We have a 5-day free trial on all our plans).
//Profit from Momentum