AmiBroker adds Quant, Backtesting, Data Visualizations, Monte Carlo, Risk Metrics (VaR/ES/Drawdown), Correlation, APIs & SDKs, and Auto-Trading & Bots coverage that Magic Formula Investing skips.
VOL. XCIV, NO. 247
★ FINANCIAL TOOLS & SERVICES DIRECTORY ★
PRICE: 5 CENTS
Sunday, December 7, 2025
Tool Comparison
AmiBroker vs Magic Formula Investing comparison
Compare pricing, supported platforms, categories, and standout capabilities to decide which tool fits your workflow.
Quick takeaways
Magic Formula Investing includes Stock Ideas categories that AmiBroker omits.
Magic Formula Investing keeps a free entry point that AmiBroker lacks.
In depth comparison
AmiBroker
amibroker.com
Windows desktop platform for technical/system research with a fast AFL scripting language, portfolio‑level backtester, walk‑forward testing, Monte Carlo, and extensive optimization. Real‑time capability and instrument coverage depend on the data plug‑ins you use (e.g., IQFeed, eSignal, Interactive Brokers, Norgate Data). Auto‑trading to IB is available via the official interface. Licenses are perpetual with 24 months of updates.
Categories
Platforms
Desktop
Pricing
One-time
Quick highlights
- Portfolio‑level backtesting with dynamic position sizing and bar‑by‑bar ranking/PositionScore.
- Walk‑forward testing integrated with optimization; in/out‑of‑sample stats.
- Monte Carlo simulation (custom metrics can drive optimization/WF objective).
- Very fast multi‑threaded optimization with 3D optimization surface visualization.
- Exploration/Scanner to build custom screeners and reports via AFL.
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Magic Formula Investing
magicformulainvesting.com
Free stock screener based on Joel Greenblatt’s Magic Formula strategy. Covers only U.S.-listed equities, excluding financials and utilities. Users choose a minimum market cap and get either 30 or 50 ranked results. Prices are updated daily on trading mornings, and fundamentals refresh quarterly. Free registration is required.
Categories
Platforms
Web
Pricing
Free
Quick highlights
- Straightforward screener with only two inputs: minimum market cap (USD, millions) and number of results (30 or 50).
- Universe restricted to U.S.-listed equities, excluding financial and utility companies.
- Ranks companies on two factors: high earnings yield (low P/E) and high return on capital, with minor accounting adjustments.
- Update cadence: price data refreshed daily around 8:00 AM ET on trading days; financial data updated quarterly.
- Underlying data source is S&P Compustat. Official guidance suggests focusing on larger caps for less volatility and holding at least 20 stocks.
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Where they differ
AmiBroker
Distinct strengths include:
QuantBacktestingData VisualizationsMonte CarloRisk Metrics (VaR/ES/Drawdown)CorrelationAPIs & SDKsAuto-Trading & Bots
- Portfolio‑level backtesting with dynamic position sizing and bar‑by‑bar ranking/PositionScore.
- Walk‑forward testing integrated with optimization; in/out‑of‑sample stats.
- Monte Carlo simulation (custom metrics can drive optimization/WF objective).
- Very fast multi‑threaded optimization with 3D optimization surface visualization.
Magic Formula Investing
Distinct strengths include:
- Straightforward screener with only two inputs: minimum market cap (USD, millions) and number of results (30 or 50).
- Universe restricted to U.S.-listed equities, excluding financial and utility companies.
- Ranks companies on two factors: high earnings yield (low P/E) and high return on capital, with minor accounting adjustments.
- Update cadence: price data refreshed daily around 8:00 AM ET on trading days; financial data updated quarterly.
Feature-by-feature breakdown
| Attribute | AmiBroker | Magic Formula Investing |
|---|---|---|
Categories Which research workflows each platform targets | Shared: Screeners Unique: Quant, Backtesting, Data Visualizations, Monte Carlo, Risk Metrics (VaR/ES/Drawdown), Correlation, APIs & SDKs, Auto-Trading & Bots | Shared: Screeners Unique: Stock Ideas |
Asset types Supported asset classes and universes | Stocks, ETFs, Mutual Funds, Futures, Currencies | Stocks |
Experience levels Who each product is built for | Intermediate, Advanced | Beginner, Intermediate, Advanced |
Platforms Where you can access the product | Desktop | Web |
Pricing High-level pricing models | One-time | Free |
Key features Core capabilities called out by each vendor | Unique
| Unique
|
Tested Verified by hands-on testing inside Find My Moat | Not yet | Not yet |
Editor pick Featured inside curated shortlists | Standard listing | Standard listing |
Frequently Asked Questions
Which workflows do AmiBroker and Magic Formula Investing both support?
Both platforms cover Screeners workflows, so you can research those use cases in either tool before digging into the feature differences below.
Which tool offers a free plan?
Magic Formula Investing offers a free entry point, while AmiBroker requires a paid subscription. Review the pricing table to see how the paid tiers compare.
How can you access AmiBroker and Magic Formula Investing?
Both AmiBroker and Magic Formula Investing prioritize web or desktop access. Investors wanting a mobile-first workflow may need to rely on responsive web views.
What unique strengths set the two platforms apart?
AmiBroker differentiates itself with Portfolio‑level backtesting with dynamic position sizing and bar‑by‑bar ranking/PositionScore., Walk‑forward testing integrated with optimization; in/out‑of‑sample stats., and Monte Carlo simulation (custom metrics can drive optimization/WF objective)., whereas Magic Formula Investing stands out for Straightforward screener with only two inputs: minimum market cap (USD, millions) and number of results (30 or 50)., Universe restricted to U.S.-listed equities, excluding financial and utility companies., and Ranks companies on two factors: high earnings yield (low P/E) and high return on capital, with minor accounting adjustments..
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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.