The New Money.Net (Free Trial in December)

Discussion in 'Trading Software' started by HappyTrader, Dec 12, 2017.

  1. Did anyone else get this?

    I sampled Money.NET a couple of years ago, so was quite interested in trying out the new one with the 'all new' web interface. I even set aside some time just for this purpose.

    After about 10 minutes, I'm a bit confused:

    1) It is interesting they show Bloomberg TV in a little box (it appears to be the free YouTube feed). But why such a small selection of channels? Only what is available for free on YouTube? (No CNN or CNBC).

    2) Their support for EDGE Browser seems to be pretty iffy (very slow, can not resize components, they do not end up in the place you put them, etc.) Internet Explorer does not seem to be compatible (half of the icons do not show up).

    3) Unless I'm mistaken, none of the components offered offer anything that isn't available anywhere else for free:

    News -- This seems to be an aggregator of free news. Yes, it's nicely pulled together, but does not seem to be the full assortment of articles/news/videos/etc. that would be available from those sources.

    Chart - This seems to be a basic chart with some studies. I suppose it could be interested for someone who has nothing, but this is usually available with most trading platforms.

    Quote Grid -- Very basic list of quotes, nothing special here.

    Portfolio Monitor -- As above.

    Tearsheet - This reminds me of exactly what the Corporate Fundamentals (?) feature in TWS looks like... Event he L&F. Also, none of the information here appears to be anything that could not be sourced somewhere else for free.

    Company Financials / Analyst Recommendations / Earnings Calendar / Equity Ownership / Global Equity Indices / Option Monitor / SEC Filings:

    There does not seem to be anything here that is not available free elsewhere or on TWS or a decent trading platform. Also, the information is simply 'displayed', and not 'workable' (i.e., can not do a query that says: Give me all Equities with 80% Analyst Recommendations of BUY that have an Earnings Release next calendar week).

    The Multi-Asset Section:
    Most Active / Chart Grid / Cross Currency Rates:
    This appears to be basic information available with all trading platforms.

    Global Commodity Prices:
    I do not deal with Commodities, so do not know if this is available widely, but I did not see anything here that I do not normally see scrolling in the corner of CNBC or Bloomberg TV

    Corporate Credit:
    I was hoping that this would be a powerful tool to list all the debit from various US Companies/MUNIs/etc. However, it seems to only give me the 5yr CDS.

    Economic Calendar:
    Very attractive, very good. This information is of course widely available for free, since these events are always published, but it is displayed here quite nicely.

    Futures Forward Curves:
    I do not deal with Futures, so can not say much here. It is a simple chart of a futures contract. I suspect anyone trading Futures would have access to what the price is.

    Country CDS:
    A simple list of Credit Default Swaps per country (5Y). This information should be available on most platforms that can trade CDS.

    There is a backtesting app, and it does seem to have a lot of strategies and features. I do not do any backtesting, so have no idea how good this app is. If someone is interested in backtesting and does not have access to a good app, this is definitely worth looking into.

    There is also a nifty Screening app. Far more powerful than what you get with Google (or TWS). Far less powerful than what you get with GuruFocus. Although to be fair, it seems to be leaning more towards technical analysis screening, as opposed to fundamental analysis screening.

    It hooks up to Money.NET chat and Symphony chat. I don't chat, so did not investigate this..

    It is quite slow/buggy in a browser on Edge, and completely fails on Internet Explorer. I did not try Chrome (as I do not use that product). I did test it on a machine with 16GB of RAM, so it should not be my machine's fault.

    For the most part, I would say easily 80% of the content is available freely on the internet or through a decent trading platform. The parts that seem to be special here would be the Screener and BackTesting app.

    The Look & Feel of the app is very nice, modern, clean. It works well as an aggregator of free content.

    However, unless I am unable to location functionality, I would have to say that this is for the most part, an aggregator of free content with a few apps (BackTesting, Screener, Money.NET chat) added in.

    This is, by all means and measures, a far cry from trying to compete with the likes of Bloomberg or Eikon. To suggest that Money.NET has 1% of the functionality of Eikon or of Bloomberg would be a stretch.

    This is fine, but for those who were expecting a replacement platform, I would not suggest this.

    Then it is the matter of price. Various deals are available, with discounts/etc. The going price is 150$/month (but I think it can be had for as low as 100$/mo if paid for yearly).

    This would then make it comparable, at a price point, to the Metastock XENITH (A limited version of Eikon). I have used this quite a lot, and although it is pretty limited compared to the full Eikon, it does contain a lot more functionality than Money.NET, and the platform is more stable. Additionally, the news sources / articles / video, as well as the wealth of data available, are easily queryable through Answers.

    So my humble suggestion is:
    If you wish to spend about 100/mo, I would suggest Metastock XENITH over Money.NET *unless* you were in dire need of a BackTesting or Screening app. In which case, you should try out Money.NET.

    Hope this helps someone.

    (I will look in again on Money.NET in a few years, as they do seem to be attempting to improve it over the years).