Stock Market App Roundup (MOMO, StocksToTrade, Madscan, TradeIdeas, Finvez, Benzinga & More)

The world is filled with fluff products which profit from those who are inexperienced or naive to available technology. Stock market apps are no different.

We built MOMO because we had a unique problem that wasn't solved in the market. And while building MOMO we found numerous tools which promote themselves with various buzz-words (AI anyone?) in hopes of trying to attract those unaware of the available options.

So at the risk of putting MOMO in the same light as these other products, I've compiled a list of these services and created a table of the percent of their offering which is freely available. And while some may think its crazy to share competitors, fact is, most of our customers are former users of these other products.

MOMO is now going on 3 years old and we have yet to stumble upon a true alternative. Perhaps some trading platforms have realtime high/low breakout filtering, but they are not popular mainstream platforms. ThinkorSwim has been shared with us before, but after doing a search I found they are as user-unfriendly as other MOMO users have said and need to be scripted (programmed) to even work. We've also heard that Scottrade once upon a time had similar capability, but it has since been removed so as not to offer more features than TD Ameritrade's Think or Swim Platform. Even so, I have yet to see it stream data like MOMO and also it doesn't have alerts or work on mobile. Here is a video if you would like to see how cumbersome their functionality is.

So here is the quick and dirty table highlighting other trading products, their main capabilities, the monthly price, rough estimation percent of unique value they offer vs. free available options, and list of applicable free alternatives.

While you are evaluating alternatives, it's important to recognize the overlap your brokerage's existing service provides. All brokerage systems offer Quoting, Charting, Watchlist, and a host of Studies at a minimum.

Also note, several of these are offered as downloaded software. I've been building software for 20yrs and 2018, there is little reason to build a downloadable platform. If you are required to have downloadable software and its not a full-fledged pro trading platform, the code is outdated and you should look elsewhere. Java updates and such are a nightmare and cause a host of problems and upgrade hassles.

Equityfeed, Stockstotrade and possibly one or two others are easily confused with your broker's trading platform. Question is, why would you even bother with both? What platform did you decide upon that misses the mark so bad on charting, news, watchlists, etc. that justifies spending $2400 a year more for duplicate capability? The big question is, who buys these programs and why wouldn't you expect to execute a trade from them?

Alerts - some of these offer stock alerts. it's important to note that if they are "downloaded software" all use desktop only alerts - meaning you won't receive these alerts on your mobile device on the go. Big issue with old applications.

The main argument I see is very little unique capability is being offered for 10-20x the cost of MOMO along with free programs. Further, these other applications are using outdated, non-portable software. I think there are opportunities for all these products to improve and add value, they just have to offer more in the way of backtesting, proprietary buy-sell algorithms, or other true intellectual property to warrant the monthly price.

Whatever you chose to do, I wish you much success with your trading!

Want to try MOMO? Go to Mometic.com and pick the platform that works for you.