Free Alternatives to Magic Formula Investing

VOL. XCIV, NO. 247

Checking

Free replacement verdicts

Free Alternatives to Magic Formula Investing

Zero-cost replacements grouped by fit, tradeoffs, pricing friction, and platform access. Use this list to test Magic Formula Investing before paying for another subscription.

Switching from Magic Formula Investing doesn't have to cost a thing. We've curated 20 free-tier alternatives that cover similar workflows, from Screeners to Stock Ideas and beyond. Each pick below is framed by fit, caveats, and access friction so you can trial replacements without opening your wallet.

Visit Magic Formula Investing All alternatives Tool details

Disclosure: outbound links may include affiliate or sponsor links

Which Alternative Should You Use?

GuruFocus

Closest replacement

Best for: Value investors who want long historical fundamentals, GF Score, GF Value, and guru/institutional holdings.

GuruFocus best matches the base workflow on stock screening, stock research, and fundamental research.
GuruFocus keeps the replacement test in the same free-access lane. Free access caveat: signup required and Free account has limited platform access..

Watch for: Paid access is region and tier dependent: Annual paid memberships, region add-ons, API plans, and pay-as-you-go API credits.

Start GuruFocus trial

Details Compare

Stock Analysis

Strong runner-up

Best for: Regular investors who want fast stock and fund research pages, screeners, comparisons, watchlists, and market calendars.

Stock Analysis best matches the base workflow on stock screening, stock research, and fundamental research.
Stock Analysis keeps the replacement test in the same free-access lane. Free access caveat: Free access is ad-supported..

Watch for: No public API: Stock Analysis does not currently offer API access.

Try Stock Analysis Pro

Details Compare

The Ledger Terminal

Strong runner-up

Best for: Long-term stock pickers who want a low-cost, source-linked tearsheet instead of a broad multi-asset terminal.

The Ledger Terminal best matches the base workflow on stock screening, stock research, and fundamental research.
The Ledger Terminal keeps the replacement test in the same free-access lane. Free access caveat: Free users get daily-limited stock views; Pro is currently $8.40/month billed annually for the first year, then $144/year, with a 7-day free trial..

Watch for: U.S. stock focus: The product emphasizes quality-filtered U.S.-listed stocks and excludes OTC stocks, shell companies, penny stocks, and SPACs, so it is not a global equity terminal.

Open stock tearsheets

Details Compare

Investing.com

Strong runner-up

Best for: Users who want one free global market portal for quotes, charts, calendars, news, watchlists, and portfolio tracking.

Investing.com best matches the base workflow on stock screening, fundamental research, and screening and idea generation.
Investing.com keeps the replacement test in the same free-access lane. Free access caveat: Free access is ad-supported and does not include the full InvestingPro research layer..

Watch for: Not a broker or API product: Investing.com does not provide direct trading execution or a public API; widgets and RSS are the main integration surfaces.

View InvestingPro

Details Compare

Detailed Alternatives

GuruFocus

Analyst PickHands-on Tested

Closest replacementWorkflow overlap 100%

Bottom line: Value investors who want long historical fundamentals, GF Score, GF Value, and guru/institutional holdings.

Replacement: Drop-in replacement
Pricing fit: Free-plan match
Free tier: Yes
Platforms: Web
Assets: Stocks
Experience: Beginner, Intermediate, and Advanced
Plans: Free

Why switch

GuruFocus best matches the base workflow on stock screening, stock research, and fundamental research.
GuruFocus matches the base audience on Beginner, Intermediate, and Advanced.
You gain ETF Screeners, Top Analysts, Stock Comparison, and ETF Comparison.

Watch out

Minor switch gaps: does not clearly cover factor screening and quant research.
Avoid as a full replacement if you rely on factor screening and quant research.
Paid access is region and tier dependent: Annual paid memberships, region add-ons, API plans, and pay-as-you-go API credits.
Free-plan limits: Signup required, Free account has limited platform access., and Free members have limited portfolio capacity..

Shared coverage

ScreenersStock Ideas

Start GuruFocus trial View details Compare

Stock Analysis

Analyst PickHands-on Tested

Strong workflow fitWorkflow overlap 100%

Bottom line: Regular investors who want fast stock and fund research pages, screeners, comparisons, watchlists, and market calendars.

Replacement: Drop-in replacement
Pricing fit: Free-plan match
Free tier: Yes
Platforms: Web
Assets: Stocks
Experience: Beginner, Intermediate, and Advanced
Plans: Free

Why switch

Stock Analysis best matches the base workflow on stock screening, stock research, and fundamental research.
Stock Analysis matches the base audience on Beginner, Intermediate, and Advanced.
You gain ETF Screeners, Top Analysts, Stock Comparison, and ETF Comparison.

Watch out

Minor switch gaps: does not clearly cover factor screening and quant research.
Avoid as a full replacement if you rely on factor screening and quant research.
No public API: Stock Analysis does not currently offer API access.
Free-plan limits: Free access is ad-supported., Free exports and financial history are limited compared with Pro and Unlimited., and Brokerage sync, active alerts, full ETF holdings, and advanced analyst filtering require paid plans..

Shared coverage

ScreenersStock Ideas

Try Stock Analysis Pro View details Compare

The Ledger Terminal

Strong workflow fitWorkflow overlap 100%

Bottom line: Long-term stock pickers who want a low-cost, source-linked tearsheet instead of a broad multi-asset terminal.

Replacement: Drop-in replacement
Pricing fit: Free-plan match
Free tier: Yes
Platforms: Web
Assets: Stocks
Experience: Beginner, Intermediate, and Advanced
Plans: Free

Why switch

The Ledger Terminal best matches the base workflow on stock screening, stock research, and fundamental research.
The Ledger Terminal matches the base audience on Beginner, Intermediate, and Advanced.
You gain Stock Comparison, Data Visualizations, Watchlist, and Alerts.

Watch out

Minor switch gaps: does not clearly cover factor screening and quant research.
Avoid as a full replacement if you rely on factor screening and quant research.
U.S. stock focus: The product emphasizes quality-filtered U.S.-listed stocks and excludes OTC stocks, shell companies, penny stocks, and SPACs, so it is not a global equity terminal.
Free-plan limits: Free users get daily-limited stock views; Pro is currently $8.40/month billed annually for the first year, then $144/year, with a 7-day free trial. and Full 15-year history, comparison workflow, quality checklist, and exports require Pro..

Shared coverage

ScreenersStock Ideas

Open stock tearsheets View details Compare

Investing.com

Analyst PickHands-on Tested

Strong workflow fitWorkflow overlap 100%

Bottom line: Users who want one free global market portal for quotes, charts, calendars, news, watchlists, and portfolio tracking.

Replacement: Drop-in replacement
Pricing fit: Free-plan match
Free tier: Yes
Platforms: Web
Assets: Stocks
Experience: Beginner, Intermediate, and Advanced
Plans: Free

Why switch

Investing.com best matches the base workflow on stock screening, fundamental research, and screening and idea generation.
Investing.com matches the base audience on Beginner, Intermediate, and Advanced.
You gain Stock Comparison, Data Visualizations, Options, and Correlation.

Watch out

Minor switch gaps: does not clearly cover factor screening, quant research, and stock research.
Avoid as a full replacement if you rely on factor screening, quant research, and stock research.
Not a broker or API product: Investing.com does not provide direct trading execution or a public API; widgets and RSS are the main integration surfaces.
Free-plan limits: Free access is ad-supported and does not include the full InvestingPro research layer., Free WarrenAI access is limited to 10 lifetime messages and requires an account; paid plans include 50 or 500 credits per month., and ProPicks, premium reports, and deeper datasets are plan-gated..

Shared coverage

ScreenersStock Ideas

View InvestingPro View details Compare

TipRanks

Analyst PickHands-on Tested

Strong workflow fitWorkflow overlap 100%

Bottom line: Retail investors who want analyst consensus, expert rankings, Smart Score, news sentiment, and stock ideas.

Replacement: Drop-in replacement
Pricing fit: Free-plan match
Free tier: Yes
Platforms: Web
Assets: Stocks
Experience: Beginner, Intermediate, and Advanced
Plans: Free

Why switch

TipRanks best matches the base workflow on stock research, fundamental research, and screening and idea generation.
TipRanks matches the base audience on Beginner, Intermediate, and Advanced.
You gain Top Analysts, ETF Screeners, US Government Trades, and Stock Comparison.

Watch out

Minor switch gaps: does not clearly cover stock screening, factor screening, and quant research.
Avoid as a full replacement if you rely on stock screening, factor screening, and quant research.
Best tools are paid: Premium and Ultimate gate Smart Portfolio, Smart Score, expert/insider/hedge-fund tools, exports, and higher MCP quotas.
Free-plan limits: Signup required, Free/Basic MCP OAuth quota is 10 tool calls per month., and Free API-key tier is limited to 5 requests per minute and 50 requests per month..

Shared coverage

ScreenersStock Ideas

View TipRanks plans View details Compare

Yellowbrick Investing

Strong workflow fitWorkflow overlap 100%

Bottom line: Retail investors who want stock pitches, hedge fund holdings, professional investor feeds, and a live premium portfolio in one idea-generation workflow.

Replacement: Drop-in replacement
Pricing fit: Free-plan match
Free tier: Yes
Platforms: Web
Assets: Stocks
Experience: Beginner, Intermediate, and Advanced
Plans: Free

Why switch

Yellowbrick Investing best matches the base workflow on stock screening, stock research, and fundamental research.
Yellowbrick Investing matches the base audience on Beginner, Intermediate, and Advanced.
You gain Institutional Ownership, Alerts, Newsletters, and Aggregated stock pitches with powerful filters: search by ticker, sector, valuation metrics, price targets, dividends, sentiment, geography, and more..

Watch out

Minor switch gaps: does not clearly cover factor screening and quant research and less aligned with active traders.
Avoid as a full replacement if you rely on factor screening and quant research.
Idea aggregation is not diligence: Stock pitches, fund holdings, and model portfolio alerts require independent verification before investment decisions.
Free-plan limits: Signup required, Free tier has delayed ideas and limited data., and Premium unlocks real-time feeds, professional fund portfolios, enhanced filters, stats, and portfolio alerts..

Shared coverage

ScreenersStock Ideas

Open Yellowbrick View details Compare

Seeking Alpha

Analyst PickHands-on Tested

Strong workflow fitWorkflow overlap 100%

Bottom line: Retail investors who want news, contributor analysis, quant ratings, screeners, and portfolio alerts together.

Replacement: Drop-in replacement
Pricing fit: Free-plan match
Free tier: Yes
Platforms: Web
Assets: Stocks
Experience: Beginner, Intermediate, and Advanced
Plans: Free

Why switch

Seeking Alpha best matches the base workflow on stock screening, stock research, and fundamental research.
Seeking Alpha matches the base audience on Beginner, Intermediate, and Advanced.
You gain News, News Sentiment, Alerts, and Calendar.

Watch out

Material switch gaps: does not clearly cover factor screening, quant research, and API and market data and less aligned with active traders.
Avoid as a full replacement if you rely on factor screening, quant research, and API and market data.
Free access is limited: The Basic plan has limited premium-article access and core portfolio/watchlist features.
Free-plan limits: Signup required, Basic has limited premium-article access., and Premium is needed for unlimited articles/transcripts, ratings, factor grades, screeners, comparisons, broker linking, and AI summaries..

Shared coverage

ScreenersStock Ideas

View Seeking Alpha plans View details Compare

Börsdata

Strong workflow fitWorkflow overlap 100%

Bottom line: Nordic and European investors who want a fundamentals-rich screener, reports, owner data, technical charts, and dividend research.

Replacement: Drop-in replacement
Pricing fit: Free-plan match
Free tier: Yes
Platforms: Web
Assets: Stocks
Experience: Beginner, Intermediate, and Advanced
Plans: Free

Why switch

Börsdata best matches the base workflow on stock screening, fundamental research, and screening and idea generation.
Börsdata matches the base audience on Beginner, Intermediate, and Advanced.
You gain Data Visualizations, Index Rebalancing, Watchlist, and Institutional Ownership.

Watch out

Minor switch gaps: does not clearly cover factor screening, quant research, and stock research.
Avoid as a full replacement if you rely on factor screening, quant research, and stock research.
Best value is Nordic-first: Global coverage exists on higher tiers, but Börsdata is strongest for Nordic equities and Nordic ownership/insider workflows.
Free-plan limits: Signup required, Free account has limited access., and Full data requires Premium, Pro, Pro+, or Enterprise..

Shared coverage

ScreenersStock Ideas

Compare Börsdata plans View details Compare

Dividend Watch

Analyst PickHands-on Tested

Strong workflow fitWorkflow overlap 100%

Bottom line: Dividend investors who want a modern tracker with forecasts, calendars, DRIP tracking, and dividend safety scores.

Replacement: Drop-in replacement
Pricing fit: Free-plan match
Free tier: Yes
Platforms: Web
Assets: Stocks
Experience: Beginner, Intermediate, and Advanced
Plans: Free

Why switch

Dividend Watch best matches the base workflow on stock screening, stock research, and fundamental research.
Dividend Watch matches the base audience on Beginner, Intermediate, and Advanced.
You gain Portfolio, Watchlist, Dividends, and Calendar.

Watch out

Material switch gaps: does not clearly cover factor screening, quant research, and backtesting and quant research and less aligned with active traders.
Avoid as a full replacement if you rely on factor screening, quant research, and backtesting and quant research.
Free tier is small: Free access tracks one portfolio with up to 10 holdings and limited statement history.
Free-plan limits: Signup required, Free tier supports one portfolio and up to 10 holdings., and Premium and Pro include a 7-day trial..

Shared coverage

ScreenersStock Ideas

Try Dividend Watch View details Compare

Stock Rover

Hands-on Tested

Strong workflow fitWorkflow overlap 100%

Bottom line: Serious individual investors who want deep North American stock, ETF, and fund screening.

Replacement: Drop-in replacement
Pricing fit: Free-plan match
Free tier: Yes
Platforms: Web
Assets: Stocks
Experience: Beginner, Intermediate, and Advanced
Plans: Free

Why switch

Stock Rover best matches the base workflow on stock screening, fundamental research, and screening and idea generation.
Stock Rover matches the base audience on Beginner, Intermediate, and Advanced.
You gain ETF Screeners, Stock Comparison, ETF Comparison, and Data Visualizations.

Watch out

Material switch gaps: does not clearly cover factor screening, quant research, and stock research and less aligned with active traders.
Avoid as a full replacement if you rely on factor screening, quant research, and stock research.
North America-focused coverage: U.S. and Canadian exchange support plus OTC boards.
Free-plan limits: Signup required, New signups can test Stock Rover through a 14-day free trial with no credit card required., and Free plan has monthly limits for Stock Scores and Research Reports..

Shared coverage

ScreenersStock Ideas

View Stock Rover plans View details Compare

TradingView

Analyst PickHands-on Tested

Strong workflow fitWorkflow overlap 100%

Bottom line: Traders and investors who want charting, alerts, screeners, and market coverage across many asset classes.

Replacement: Partial replacement
Pricing fit: Free-plan match
Free tier: Yes
Platforms: Web
Assets: Stocks
Experience: Beginner, Intermediate, and Advanced
Plans: Free

Why switch

TradingView best matches the base workflow on fundamental research, screening and idea generation, and portfolio tracking.
TradingView matches the base audience on Beginner, Intermediate, and Advanced.
You gain Data Visualizations, Quant, ETF Screeners, and Stock Comparison.

Watch out

Material switch gaps: does not clearly cover stock screening, factor screening, and quant research.
Avoid as a full replacement if you rely on stock screening, factor screening, and quant research.
Real-time market data can require add-ons: Optional real-time quote subscriptions and exchange-specific data fees.
Free-plan limits: Signup required, Basic tier limits charts per tab, indicators, alerts, watchlists, and historical bars., and Some real-time exchange data is sold separately from platform plans..

Shared coverage

ScreenersStock Ideas

Open TradingView View details Compare

ChartMill

Hands-on Tested

Strong workflow fitWorkflow overlap 100%

Bottom line: Self-directed traders and investors who want technical and fundamental screening, watchlists, alerts, charts, and idea templates in one browser product.

Replacement: Drop-in replacement
Pricing fit: Free-plan match
Free tier: Yes
Platforms: Web
Assets: Stocks
Experience: Beginner, Intermediate, and Advanced
Plans: Free

Why switch

ChartMill best matches the base workflow on stock screening, stock research, and fundamental research.
ChartMill matches the base audience on Beginner, Intermediate, and Advanced.
You gain Stock Comparison, Data Visualizations, Scores, and Valuation Models.

Watch out

Material switch gaps: does not clearly cover factor screening, quant research, and API and market data and less aligned with quants and developers.
Avoid as a full replacement if you rely on factor screening, quant research, and API and market data.
Delayed market data: Paid access unlocks tools, but market data remains delayed or end-of-day, so active traders needing real-time feeds need another platform.
Free-plan limits: Free access includes screener and charts with data limits. and Monthly subscription is $34.97/month after first-month promotion; annual plan is $299.97/year and includes a swing-trading course..

Shared coverage

ScreenersStock Ideas

Screen stocks on ChartMill View details Compare

Portfolio123

Analyst PickHands-on Tested

Strong workflow fitWorkflow overlap 100%

Bottom line: Rules-based investors who want point-in-time stock and ETF simulations.

Replacement: Partial replacement
Pricing fit: Free-plan match
Free tier: Yes
Platforms: Web
Assets: Stocks
Experience: Beginner, Intermediate, and Advanced
Plans: Free

Why switch

Portfolio123 best matches the base workflow on factor screening, quant research, and fundamental research.
Portfolio123 matches the base audience on Beginner, Intermediate, and Advanced.
You gain Data Visualizations, Quant, Scores, and Valuation Models.

Watch out

Material switch gaps: does not clearly cover stock screening, stock research, and dividend research.
Avoid as a full replacement if you rely on stock screening, stock research, and dividend research.
Advanced research is paid: Free Manage covers portfolio tracking, while ranking, screening, backtesting, API, and DataMiner workflows sit behind paid trials or subscriptions.
Free-plan limits: Signup required, Free Manage module is separate from paid Research, API, and DataMiner access., and Homepage-led screener and backtesting access is time limited..

Shared coverage

ScreenersStock Ideas

Try Portfolio123 View details Compare

Monexa

Strong workflow fitWorkflow overlap 100%

Bottom line: Retail and pro retail investors who want AI-assisted company analysis, screeners, DCF models, filings, transcripts, ownership, and news in one workspace.

Replacement: Drop-in replacement
Pricing fit: Free-plan match
Free tier: Yes
Platforms: Web
Assets: Stocks
Experience: Beginner, Intermediate, and Advanced
Plans: Free

Why switch

Monexa best matches the base workflow on stock screening, stock research, and fundamental research.
Monexa matches the base audience on Beginner, Intermediate, and Advanced.
You gain News, Calendar, Financials, and Data Visualizations.

Watch out

Material switch gaps: does not clearly cover factor screening, quant research, and API and market data and less aligned with quants and developers.
Avoid as a full replacement if you rely on factor screening, quant research, and API and market data.
Current service status is unverified: The canonical vendor URL returned HTTP 404 on 2026-08-04, and no authoritative migration or replacement URL was found.
Free-plan limits: Signup required, Canonical vendor URL returned HTTP 404 on 2026-08-04., and No authoritative migration or replacement URL was established..

Shared coverage

ScreenersStock Ideas

Check Monexa status View details Compare

Value Line

Strong workflow fitWorkflow overlap 100%

Bottom line: Long-term investors who value proprietary ranks, analyst commentary, model portfolios, and printable research reports.

Replacement: Drop-in replacement
Pricing fit: Free-plan match
Free tier: Yes
Platforms: Web
Assets: Stocks
Experience: Beginner, Intermediate, and Advanced
Plans: Free

Why switch

Value Line best matches the base workflow on stock research, fundamental research, and screening and idea generation.
Value Line matches the base audience on Beginner, Intermediate, and Advanced.
You gain Watchlist, Alerts, Financials, and Scores.

Watch out

Material switch gaps: does not clearly cover stock screening, factor screening, and quant research and less aligned with active traders.
Avoid as a full replacement if you rely on stock screening, factor screening, and quant research.
Subscription services are fragmented: Equities, funds, ETFs, options, and selection services are sold as separate products with different coverage and entitlements.
Free-plan limits: Signup required, Free content is mainly newsletters and trial access., and Core equity, fund, ETF, options, and selection research require paid services..

Shared coverage

ScreenersStock Ideas

Compare Value Line services View details Compare

Value Sense

Strong workflow fitWorkflow overlap 100%

Bottom line: Fundamental and value investors who want stock ideas, intrinsic-value tools, screeners, backtesting, charting, transcripts, smart-money tracking, and workspace dashboards in one product.

Replacement: Drop-in replacement
Pricing fit: Free-plan match
Free tier: Yes
Platforms: Web
Assets: Stocks
Experience: Beginner, Intermediate, and Advanced
Plans: Free

Why switch

Value Sense best matches the base workflow on stock screening, stock research, and fundamental research.
Value Sense matches the base audience on Beginner, Intermediate, and Advanced.
You gain Backtesting, Stock Comparison, Data Visualizations, and Watchlist.

Watch out

Material switch gaps: does not clearly cover factor screening, quant research, and dividend research and less aligned with active traders.
Avoid as a full replacement if you rely on factor screening, quant research, and dividend research.
Model outputs need independent review: Intrinsic value, AI summaries, scores, and signals can accelerate research, but users still need to verify assumptions, filings, and valuation sensitivity.
Free-plan limits: Signup required, Pricing page exposes Free, Explorer, Pro, ValueQuant Strategy, and Enterprise paths, with Pro credit quotas visible., and Pro credits panel lists unlimited stock views/charts, 50 Excel downloads/month, 1,000 AI tokens/month, 20 watchlists, 50 dashboards, and 50 saved screeners..

Shared coverage

ScreenersStock Ideas

Compare Value Sense plans View details Compare

EPSMomentum

Strong workflow fitWorkflow overlap 100%

Bottom line: Growth and momentum investors who want earnings momentum, estimate revisions, PEAD drift, timing signals, scanners, dashboards, and AI analysis in one US stock/ETF platform.

Replacement: Partial replacement
Pricing fit: Free-plan match
Free tier: Yes
Platforms: Web
Assets: Stocks
Experience: Beginner, Intermediate, and Advanced
Plans: Free

Why switch

EPSMomentum best matches the base workflow on stock screening, fundamental research, and screening and idea generation.
EPSMomentum matches the base audience on Beginner, Intermediate, and Advanced.
You gain Data Visualizations, Money Flow, Portfolio, and Watchlist.

Watch out

Material switch gaps: does not clearly cover factor screening, quant research, and stock research.
Avoid as a full replacement if you rely on factor screening, quant research, and stock research.
US stocks and ETFs focus: EPSMomentum is not positioned as a global multi-asset terminal or full portfolio accounting product.
Free-plan limits: Signup required, Bronze is advertised at $0/month., and Silver is advertised at $9.99/month and Gold at $49.99/month, with yearly-plan discounts shown..

Shared coverage

ScreenersStock Ideas

Visit EPSMomentum View details Compare

Simply Wall St

Analyst PickHands-on Tested

Strong workflow fitWorkflow overlap 100%

Bottom line: Long-term investors who want visual company reports and portfolio diagnostics.

Replacement: Partial replacement
Pricing fit: Free-plan match
Free tier: Yes
Platforms: Web
Assets: Stocks
Experience: Beginner, Intermediate, and Advanced
Plans: Free

Why switch

Simply Wall St best matches the base workflow on stock screening, fundamental research, and screening and idea generation.
Simply Wall St matches the base audience on Beginner, Intermediate, and Advanced.
You gain Data Visualizations, Portfolio, Watchlist, and Financials.

Watch out

Material switch gaps: does not clearly cover factor screening, quant research, and stock research and less aligned with active traders.
Avoid as a full replacement if you rely on factor screening, quant research, and stock research.
Free plan has report and portfolio limits: The Free tier includes 5 company reports per month and 1 portfolio with 10 holdings.
Free-plan limits: Signup required, 5 company reports per month on Free., and 1 portfolio with up to 10 holdings on Free..

Shared coverage

ScreenersStock Ideas

Try Simply Wall St View details Compare

Ziggma

Strong workflow fitWorkflow overlap 100%

Bottom line: Self-directed investors who want portfolio tracking, stock/ETF screens, stock scores, and impact analysis in one product.

Replacement: Partial replacement
Pricing fit: Free-plan match
Free tier: Yes
Platforms: Web
Assets: Stocks
Experience: Beginner, Intermediate, and Advanced
Plans: Free

Why switch

Ziggma best matches the base workflow on stock screening, fundamental research, and screening and idea generation.
Ziggma matches the base audience on Beginner, Intermediate, and Advanced.
You gain ETF Screeners, Financials, ESG Ratings, and Portfolio.

Watch out

Material switch gaps: does not clearly cover factor screening, quant research, and stock research.
Avoid as a full replacement if you rely on factor screening, quant research, and stock research.
Advanced features moved to paid tiers: Account aggregation, trade simulator, stock scores, portfolio optimizer, model/guru portfolios, and more broker links are paid-tier features.
Free-plan limits: Signup required, Free tier includes core portfolio and research modules with limits., and Paid tiers have a 7-day trial..

Shared coverage

ScreenersStock Ideas

View Ziggma plans View details Compare

MarketScreener

Strong workflow fitWorkflow overlap 100%

Bottom line: Retail investors who want global market news, watchlists, screeners, analyst data, calendars, reports, and model portfolios in one broad web portal.

Replacement: Partial replacement
Pricing fit: Free-plan match
Free tier: Yes
Platforms: Web
Assets: Stocks
Experience: Beginner, Intermediate, and Advanced
Plans: Free

Why switch

MarketScreener best matches the base workflow on stock research, fundamental research, and screening and idea generation.
MarketScreener matches the base audience on Beginner, Intermediate, and Advanced.
You gain News, Alerts, Calendar, and Data Visualizations.

Watch out

Material switch gaps: does not clearly cover stock screening, factor screening, and quant research and less aligned with active traders.
Avoid as a full replacement if you rely on stock screening, factor screening, and quant research.
Best features are tier-gated: Advanced screeners, more reports, portfolios, and decision-support tools are gated behind Premium or Expert tiers.
Free-plan limits: Signup required, Free member access exists but some content and features remain locked., and Subscription page lists Access, Premium, and Expert paid tiers..

Shared coverage

ScreenersStock Ideas

Compare MarketScreener plans View details Compare

What This Shortlist Tells You

GuruFocus is the closest drop-in replacement with overlapping coverage in Screeners and Stock Ideas while adding ETF Screeners and Top Analysts coverage and Global value-investing research platform with historical financial and valuation data, screeners, charts, comparisons, institutional-investor trading histories, executive trading histories, market valuation data, economic indicators, and industry indicators. and Large global coverage footprint: current membership pages advertise 1M+ investors, 100,000 stocks across 100 markets, 30 years of financial data, thousands of institutional-investor trading histories, and 15,000+ mutual-fund holdings; the Data API separately documents 60,000+ companies across 9 regions. features (workflow overlap ~100%).

Every pick keeps a free tier; start with GuruFocus, Stock Analysis, and The Ledger Terminal to road-test Magic Formula Investing workflows without paying up front.

Need mobile access? GuruFocus, Stock Analysis, and Investing.com bring phone-ready workflows that Magic Formula Investing lacks.

Round out your stack with new coverage areas like ETF Screeners, Top Analysts, Stock Comparison, and ETF Comparison.

Coverage Snapshot

Where alternatives already align

Most shared categories across the top matches.

Screeners×20Stock Ideas×20

New angles introduced

Categories the alternatives add beyond Magic Formula Investing.

Data Visualizations+18Financials+18Watchlist+18News+17Alerts+14Dividends+14Calendar+13Portfolio+13

Free Access & Pricing

Free options

All 20

20 vetted picks keep a permanent free tier so you can validate workflows before upgrading.

Mobile ready

10/20

10 alternatives bring native mobile access.

API availability

5/20

5 of the shortlisted tools expose API endpoints for automation-heavy workflows.

Quality checks

9 starred / 11 tested

9 tools are flagged as analyst picks; 11 have been hands-on tested.

Avg. coverage overlap

100%

Average percentage of categories shared with the base tool.

Free Alternatives FAQ

What are the best free alternatives to Magic Formula Investing?

Start with GuruFocus, Stock Analysis, and The Ledger Terminal to replicate Magic Formula Investing workflows without paying for a subscription.

Do these picks stay permanently free?

Yes. Each platform listed keeps a standing free tier with no credit card required -- though export limits or seat caps may apply if you scale usage.

Which Magic Formula Investing workflows stay covered on the free plan?

Expect solid overlap across Screeners and Stock Ideas, so core Magic Formula Investing workflows can move over without a paid upgrade.

What extra coverage do the free alternatives add?

ETF Screeners, Top Analysts, Stock Comparison, ETF Comparison, Data Visualizations, Quant, Backtesting, Correlation, Portfolio, Watchlist, Institutional Ownership, US Government Trades, News, Alerts, Calendar, APIs & Data Feeds, Corporate Actions & Special Situations, IPO, Dividends, Splits, Macro Data, Yield Curves, Credit Ratings & Outlooks, Financials, Scores, Flags, Valuation Models, Improved Filings, Transcripts, Insider Data, Short Interest, Options, ETF Analysis, Fund Analysis, Analyst Forecasts, Analyst Ratings & Price Targets, AI Research, AI Chat, Sheets / Excel Add-ins, Broker Connectors, Education, Blogs, Videos, Forums, Newsletters, Custom Dashboards, Stock Handbook, Risk Metrics, Compounding Calculator, Checklist, Market Sentiment, CDS Spreads, Performance Attribution, Bulls Say Bear Say, News Sentiment, Guidance / Pre-announcements, Options P&L, Retirement Calculator, Index Rebalancing, Monte Carlo, Notes & Highlights, Paper Trading, Webhooks, Order Book / Level II, Position Sizing, Factor Exposure, Earnings Calls Sentiment, Money Flow, Dark Pool & Off-Exchange, Management Performance, Management Compensation, and ESG Ratings show up most often as bonus coverage beyond the base platform, giving you room to experiment before upgrading.

Keep Exploring

Wide Moat StocksBrowse the current moat score ranking and company-level moat notes.

Short InterestDaily tracker for heavily shorted stocks and short squeeze candidates.

Stock RankingsBacktested ranking systems for quality, value, momentum, and more.

Investing BooksBooks behind value investing, quality investing, moats, and market behavior.

Live AnalyticsSee what users are clicking, searching, and voting for across the site.

Research ToolsFind screeners, data platforms, portfolio trackers, and research tools.

Information

About Me

Hey! Thanks for stopping by. I'm an independent investor with a soft spot for coding and the stock market - especially value investing (as you can probably tell from the tools I've collected here, haha). Hopefully you'll find something useful or interesting along the way.

Find me here:

Twitter / X: @Jera_Value
Website: Jera Value

Got questions or suggestions? I'm all ears!

Missing a Tool?

Discovered a gem I don't have here yet? Drop the link below and I'll check it out ASAP. Tagging me on X works too! Can't wait to see what you've found!

Got ideas for new features?

Suggest on X

Prefer email? Reach me at support@findmymoat.com

Starred Tools

These are my top picks. Tools I've tested thoroughly and found to be excellent. They do their job really well, and I use them a lot. If you're not already familiar with them, I highly recommend checking them out.

Tested Tools

These are tools I've tried and found to be solid, but not standout. Think of them as passing an initial quality screen: worth exploring, though not all will be exceptional.

Curation & Accuracy

This directory blends AI‑assisted discovery with human curation. Entries are reviewed, edited, and organized with the goal of expanding coverage and sharpening quality over time. Your feedback helps steer improvements (because no single human can capture everything all at once).

Details change. Pricing, features, and availability may be incomplete or out of date. Treat listings as a starting point and verify on the provider’s site before making decisions. If you spot an error or a gap, send a quick note and I’ll adjust.