Rating
4

Introduction

MarketXLS is a data junkie’s dream. Having access to infinite data points stored within the confines of your spreadsheet with the flexibility to scientifically manipulate and mine for hidden treasures

What determines your level of success as a trader? We can point out many factors, but one of the most crucial ones is the amount of market intelligence at your fingertips. This implies that you have to do a lot of research, which may not be your cup of coffee.

As such, you’re better off working with the best stock research tool available. A good tool is one that saves you time and money and yet still manages to compile reliable data for you.

 Does the relatively popular MarketXLS fit the bill? We have done an extensive review of it so that you see whether it can be beneficial to your life as a trader (or not). Read on to find out.

What is MarketXLS?

In simple terms, this is an advanced stock research tool designed to convert data into spreadsheet format. It will especially appeal to traders and investors who have a special liking for spreadsheets and robust data statistics.

The program uses Excel to extract and manipulate data to make it easier to interpret. This is because the otherwise complex data will now be easier to read after a user-friendly presentation. 

Once the data is organized in the spreadsheets, you can directly analyze it to ensure you get a better insight. With the spreadsheets in hand, the whole affair will be easier for you. This is because you can now program the cells to perform the complex calculations automatically. 

The formulas will automatically update any time you change the inputs to ensure that all changes are reflected in real-time.

How It Works

First, you should note that this program is an extension tool that translates data into spreadsheet format. Even though it is primarily designed to work on a Windows computer through Excel, a Google Sheets app is available if you don’t use Windows.

After setting up the program, the MarketXLS tab will show up on the interface. From here, you can easily navigate through the settings and make any alterations as per your preferences. 

There is no reason to have any difficulty navigating the menus as the interface closely resembles Microsoft Office.

Key Features

Even though we have briefly mentioned how this program works, a closer look at its main features should make things clearer for you. 

Here is a detailed breakdown of the key features that the program provides:

1. Charts

We all know the importance of charts in providing a visual presentation of the data. This service can generate charts based on underlying data inputs and provide you with a wide range of templates.

These chart templates include candlestick, line, bar, and many others. Another impressive aspect about the charts is that you can customize them to display any technical indicator you want.

All in all, these charts are quite basic, and you will find them handy for a convenient visual reference.

2. Screeners

With this platform’s screeners, you can scan up to 10-years of historical data and also mine financial statements. And if you want to generate a Pattern-Scan report, you will find the pattern recognition tool quite handy.

Even though the program only identifies the actual candle, you should ensure that the context is workable. 

Lastly, the filter editor allows you to create and save infinite combination scans.

3. Watch Lists

The other vital aspect of this research tool is that it comes with built-in watch lists. These include the most active stocks available and the Top 100 Gainers/Losers. Further, you can create an infinite number of watch lists for monitoring. 

Let’s not leave out that you can also set alerts based on technical or fundamental triggers.

4. Technical Indicators

MarketXLS comes with 120 technical indicators, and they range from simple moving averages to more complex metrics. These indicators include volatility, Hilbert Cycle, momentum, and Chaikin volume indicators.

In addition to that, this stock research tool has built-in pattern recognition tools.

Even though these indicators are quite handy, you may find setting them up in Excel to be a bit complicated. This is in comparison to if you had used standalone charting platforms that are plenty in the market.

5. Portfolio Management Tools

This is another area where this program does really well. It is packed with numerous portfolio tools that enable you to monitor your holdings’ performance, allocations, risk profiles, and returns.

With all this information in hand, you can easily perform necessary computations such as taxes and commissions.

Once you get used to the system, you will have an easier time manipulating data to determine behavioral management and performance patterns. Normally, it would have been impossible to identify these patterns, and you can now determine the areas for improvement.

6. Options (Chains, Scanner and Valuation Model)

Let’s start with the Options chains, which, when you download or plug into charts, you can monitor and analyze them more conveniently.

You may also be interested in the Options scanner for setting up customizable options screens in Excel. 

Lastly, you can use the Valuation model to automatically calculate the Black-Scholes formula with an Excel shortcut.

7. Social Media and Market News

The platform also features proprietary news channels and market analysis within Excel. And if you want to share and post your data, charts, and models, you can do so on Twitter and StockTwits.

8. External Data Gathering

The other feature you may find interesting is the MarketXLS extension that automatically gathers data from external sources. It pulls new market data straight from Yahoo Finance and incorporates it into the spreadsheet.

This saves you the hassle of opening up Yahoo Finance any time you want to check a stock quote. Once you type the ticker symbol into the spreadsheet, the program will automatically pull all the relevant values from Yahoo.

The MarketXLS Pricing and Money-Back Guarantee

MarketXLS offers you four pricing plans for you to choose from. Here is a breakdown of the different tiers:

Pro Plan

For $35 per month, you will get access to all the features we have discussed above. However, there is a 15-minute delay in market data while there is no intra-day information. Further, there is no tracking for options in this tier.

Pro Plus Plan

This plan goes for $49 per month and offers you all the features in the pro plan plus options data to appeal to swing traders. However, you should still expect the 15-minute market data delay and Lack of some intra-day information.

Pro Plus RT Plan

In case you are wondering, the RT stands for real-time, implying that you will get all the market data in real-time. If you want to get the market data in real-time, be prepared to part with $73 per month.

*Premium Plan

The last tier is the Premium plan that costs $149 per month. As you would expect, it has more to offers than the previous plans we have looked at. For instance, you will receive information on international stocks at the end of each day. Further, you will also get access to custom templates and guru screens to teach you something new.

Let’s also talk about the satisfaction guarantee that aims to give you some peace of mind. If you purchase any of the annual plans, you have 30-days to try out the product. If you aren’t pleased with it, you can contact customer support and get a refund of your money. No questions asked!

Who Is It Best For?

If you are a trader who enjoys devouring tons of data daily, this tool is perfect for you. The program is designed to give access to an infinite amount of information, and this will be crucial in enabling you to find the next big trade.

Provided you have basic knowledge of Excel; this research tool will be an excellent companion for any trader despite their experience level in the game. 

Pros and Cons

MarketXLS has its benefits as well as its fair share of drawbacks. We have summarized them below:

Pros

  • Has amazing portfolio management tools
  • You can download data for offline analysis
  • Ideal for traders who enjoy taking in a lot of data
  • Allows for in-depth data analytics and back-testing

Cons

  • Only for those with MS Excel proficiency

Conclusion

In the end, we can tell you that this is a great tool that will enable you to organize your data on a spreadsheet. This will help you save a lot of time in research and make it easier for you to pick a winning trade. 

Most of all, it is user-friendly, and there is nothing complicated to grasp. And when we compare it to competing platforms, we find MarketXLS to be quite a feasible alternative worth working with.