★ BEST INVESTING TOOLS COMPARISON ★
VOL. XCIV, NO. 247
Tool comparison edition
Tool Comparison
Magic Formula Investing vs Portfolio123
Pick Magic Formula Investing instead if
Magic Formula Investing
Free · Web
- Go this way if it's completely free.
Start here
Portfolio123
Free • From $25/mo · Web · API · Desktop
- Delayed quotes won't cut it; you need real-time data
- You want an API so you can script or automate things
- You care about data visualizations, quant, and scores, things Magic Formula Investing doesn't offer
Skip both if: Neither one clicks with how you research; there are strong third options.
See alternativesOutbound links may include affiliate or sponsor codes.
Our take
The bottom line
Magic Formula Investing and Portfolio123 cover a lot of the same ground (2 shared categories, screeners and stock ideas), so for the basics you won't go far wrong with either. Portfolio123 simply does more: 19 categories to Magic Formula Investing's 2, including data visualizations, quant, and scores. Magic Formula Investing counters by being completely free.
What readers say
Magic Formula Investing
Vote once to reveal the community verdict.
Portfolio123
Vote once to reveal the community verdict.
Key differences at a glance
- Real-time data
- Portfolio123
- Broader coverage
- Portfolio12319 vs 2 categories
- Desktop app
- Portfolio123
- API access
- Portfolio123
- Global coverage
- Portfolio123
- Asset coverage
- Portfolio123Adds ETFs and closed-end funds
See for yourself
How they stack up
The side-by-side table: pricing, platforms, data, and coverage at a glance.ShowHide
How they stack up
The side-by-side table: pricing, platforms, data, and coverage at a glance.| Attribute | ||
|---|---|---|
| Pricing & plans | ||
Starting price | Free | Free • From $25/mo |
Free tier | Yes | Yes |
Free trial | — | — |
Plan limits | — | Free Screener & Backtesting Access: duration days: 30 |
| Platforms & access | ||
Web app | Yes | Yes |
Desktop app | No | Yes |
Mobile app | No | No |
API access | No | Yes |
Broker sync | — | Yes |
Integrations | — | Interactive Brokers and Tradier |
| Audience & fit | ||
Experience level | Beginner, Intermediate, Advanced | Beginner, Intermediate, Advanced |
Best for | — | Retail Traders, Pro Retail +5 more |
Categories covered | 2 | 19 |
Regions | North America | North America, Europe |
| Data & capabilities | ||
Data quality | 3 signals: Latency: End of Day, Granularity: EOD +1 more | 5 signals: Latency: Real-time and End of Day, Granularity: EOD +3 more |
Data partners | — | 4 partners: FactSet, S&P Global Market Intelligence +2 more |
Capabilities | — | 6 signals: Custom formulas, Ranking backtests +4 more |
| Try it | Visit Magic Formula Investing | Visit Portfolio123 |
Where each one shines
What Magic Formula Investing and Portfolio123 each do best.ShowHide
Where each one shines
What Magic Formula Investing and Portfolio123 each do best.What Magic Formula Investing does best
- Tools for running the official Magic Formula screener with only two inputs: minimum market cap and either 30 or 50 ranked results.
- Screening for companies ranked on high earnings yield and high return on capital, with the accounting adjustments described by the official methodology.
- Magic Formula Investing serves as a simple value-quality idea list before checking financial statements, business quality, debt, cyclicality, and current valuation context.
- Focus on U.S.-listed equities because the official universe excludes foreign companies and ADRs.
- Sector exclusions: financial and utility companies are removed from the official screen.
What Portfolio123 does best
- Tools for building multifactor ranking systems, stock screens, ETF screens, and complete rules-based strategies through a web research environment.
- Tools for running simulations and backtests with long historical equity data, custom universes, buy and sell rules, position sizing, hedging, rebalancing, and realistic assumptions.
- Point-in-time data designed to avoid survivorship and look-ahead bias, with fundamentals, estimates, corporate actions, sector and industry classifications, and historical issues.
- Tools for creating ranking systems from fundamental, technical, sentiment, and macro factors, including public factor documentation and FRED-linked economic series.
- AI Factor to train machine-learning predictors for expected returns and feed those predictions into rankings, simulations, and asset-level analysis.
Every detail we compared
Every tracked attribute for Magic Formula Investing and Portfolio123, side by side.ShowHide
Every detail we compared
Every tracked attribute for Magic Formula Investing and Portfolio123, side by side.| Attribute | ||
|---|---|---|
| Coverage & fit | ||
Asset types | Stocks | StocksETFsClosed-End Funds |
Experience | BeginnerIntermediateAdvanced | BeginnerIntermediateAdvanced |
Target audience | Not specified | Retail TradersPro RetailInstitutional InvestorsAnalystsQuants/DevelopersFinancial AdvisorsStudents/Researchers |
Regions | North America | North AmericaEurope |
Coverage details | Countries: USIdentifiers: Ticker | Countries: US and CAIdentifiers: Ticker |
| Data | ||
Data freshness | End of Day | Real-timeEnd of Day |
Data granularity | EOD | EOD |
Data partners | Not specified | FactSetS&P Global Market IntelligenceICE Data ServicesFRED |
| Access & integrations | ||
API protocols | Not specified | REST |
API auth & delivery | Not specified | Auth: APIKeySDKs: PythonDocs |
Import methods | Not specified | BrokerOAuthCSV |
Integrations | Not specified | Interactive BrokersTradier |
Export formats | Not specified | CSVJSON |
| Plans & trust | ||
Capability signals | Not specified | Custom formulasRanking backtestsUniverse builderBroker syncRebalancingCorrelation |
Vendor & support | Not specified | Portfolio123Support: Forum |
Curation ratings | Methodology 4/5Reliability 4/5UX 3/5 | Not specified |
Green tags are exclusive to that tool in this comparison.
What you'll actually pay
Plans, billing, trials, and per-month pricing for both tools.ShowHide
What you'll actually pay
Plans, billing, trials, and per-month pricing for both tools.| Tier | ||
|---|---|---|
| Free plan | Free | Free“Manage (Free)” |
| Entry paid plan | — | $25/mo“Retail Research Plans” |
| Custom / enterprise | — | Contact sales“Professional / API & Data Licenses” |
Questions we keep getting
What's the difference between Magic Formula Investing and Portfolio123?
Magic Formula Investing leans toward screeners and stock ideas, while Portfolio123 puts more weight on screeners, data visualizations, and quant. They overlap in 2 categories, so for most people it comes down to workflow preference and price.
How much do Magic Formula Investing and Portfolio123 cost?
Good news: both Magic Formula Investing and Portfolio123 have free plans, so you can run them side by side and only pay if you hit a wall.
Does Magic Formula Investing or Portfolio123 have an API?
Portfolio123 has an API for programmatic access and custom integrations. Magic Formula Investing doesn't, so you're working through its interface.
Should I choose Magic Formula Investing or Portfolio123?
It depends on what you're after. Pick Magic Formula Investing if you prefer its overall approach; go with Portfolio123 if you'd rather have data visualizations and quant. And if you only need the basics both share, let price decide.
What asset classes do Magic Formula Investing and Portfolio123 cover?
Both cover stocks. Portfolio123 adds ETFs and closed-end funds on top.
Does Magic Formula Investing or Portfolio123 have real-time data?
Portfolio123 offers real-time data, which matters if you trade actively. Magic Formula Investing runs on delayed or end-of-day data, which is perfectly fine for longer-term investors who don't live and die by the tick.
Which covers international markets: Magic Formula Investing or Portfolio123?
Portfolio123 has documented international coverage (North America and Europe), so it's the safer bet if you hold non-US stocks. Magic Formula Investing is more region-specific, mainly North America.
Can I export data from Magic Formula Investing and Portfolio123?
Portfolio123 exports to CSV. Magic Formula Investing is stingier about getting data out.
Which has a better stock screener: Magic Formula Investing or Portfolio123?
Both Magic Formula Investing and Portfolio123 include stock screeners, and they differ more in interface than raw power; try both and see which one clicks for you.
Can I track my portfolio with Magic Formula Investing or Portfolio123?
Portfolio123 handles portfolio tracking. Magic Formula Investing is really a research tool; you'd track your portfolio elsewhere.
Keep researching
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Feedback
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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.