Tool Comparison
Portfolio123 vs The Ledger Terminal
- Paid from
- $25/mo
- Free plan
- Yes
- Platforms
- Web, API, Desktop
Best if
- Delayed quotes won't cut it; you need real-time data
- You want an API so you can script or automate things
- You want quant, portfolio, and backtesting.
- Paid from
- —
- Free plan
- Yes
- Platforms
- Web
Best if
- You want stock comparison, alerts, and news.
- You're a long-term investor who cares more about fundamentals than headlines
Pick Portfolio123 if
Portfolio123
Free • From $300/yr · 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 want quant, portfolio, and backtesting.
Pick The Ledger Terminal if
The Ledger Terminal
Free • Paid plans available · Web
- You want stock comparison, alerts, and news.
- You're a long-term investor who cares more about fundamentals than headlines
Skip both if: Neither one clicks with how you research; there are strong third options.
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Our take
The bottom line
Portfolio123 and The Ledger Terminal cover a lot of the same ground (10 shared categories, including screeners, data visualizations, and stock ideas), so for the basics you won't go far wrong with either. Portfolio123 includes quant and portfolio, and The Ledger Terminal includes stock comparison and alerts.
What readers say
Portfolio123
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The Ledger Terminal
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Key differences at a glance
- Real-time data
- Portfolio123
- Free trial
- The Ledger Terminal7 days
- Desktop app
- Portfolio123
- API access
- Portfolio123
- Broker sync
- Portfolio123
- Asset coverage
- Portfolio123Adds ETFs and closed-end funds
What Portfolio123 does best
- Build multifactor ranking systems, stock screens, ETF screens, and rules-based strategies.
- Run simulations with custom universes, buy and sell rules, position sizing, hedging, rebalancing, slippage, and commissions.
- Point-in-time data designed to avoid survivorship and look-ahead bias, with fundamentals, estimates, corporate actions, sector and industry classifications, and historical issues.
- Create 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.
What The Ledger Terminal does best
- Direct access to one-page stock tearsheets that combine business description, historical financials, valuation visuals, quality checks, SEC filing links, and relevant news.
- More than 10,000 US stocks, plus UK companies sourced from ESEF filings.
- Review SEC EDGAR-derived financial-statement history with source filing links, automated QA checks, annual and quarterly data, and trailing twelve months where available.
- Log-scale valuation charts to compare price against fair value views such as P/E, P/FCF, P/CF, and P/OE owner earnings.
- Support for applying a 9-point quality checklist covering profitability, growth, capital efficiency, shareholder returns, fair value, and balance-sheet health.
Side by side
Pricing comparison
See for yourself
Side by side
Price, platforms, data, and market coverage.ShowHide
Side by side
| Attribute | ||
|---|---|---|
| Pricing & plans | ||
Starting price | Free • From $300/yr | Free • Paid plans available |
Free tier | Yes | Yes |
Free trial | — | 7 days |
Plan limits | 25 limits: Free Screener & Backtesting Access: duration days: 30, Screener (Annual): backtest history years: 5 +23 more | 7 limits: Free: anonymous daily stock views: 1, Free: authenticated daily stock views: 6 +5 more |
| Platforms & access | ||
Web app | Yes | Yes |
Desktop app | Yes | No |
Mobile app | No | No |
API access | Yes | No |
Broker sync | Yes | No |
Integrations | Interactive Brokers and Tradier | SEC EDGAR source links and Third-party financial data |
| Audience & fit | ||
Experience level | Beginner, Intermediate, Advanced | Beginner, Intermediate, Advanced |
Best for | Retail Traders, Pro Retail +5 more | Retail Traders, Pro Retail +7 more |
Categories covered | 19 | 17 |
Regions | North America, Europe | North America, Europe |
| Data & capabilities | ||
Data quality | 5 signals: Latency: Real-time and End of Day, Granularity: EOD +3 more | 3 signals: Latency: End of Day, Granularity: EOD +1 more |
Data partners | 4 partners: FactSet, S&P Global Market Intelligence +2 more | 3 partners: SEC EDGAR, Third-party financial data +1 more |
Capabilities | 6 signals: Custom formulas, Ranking backtests +4 more | Universe builder and Factors: Value, Quality, Growth, and Size |
Security | — | Data residency: EU and Other and Encryption in transit |
| Try it | Visit Portfolio123 | Visit The Ledger Terminal |
Standout features
The best features of Portfolio123 and The Ledger Terminal.ShowHide
Standout features
What Portfolio123 does best
- Build multifactor ranking systems, stock screens, ETF screens, and rules-based strategies.
- Run simulations with custom universes, buy and sell rules, position sizing, hedging, rebalancing, slippage, and commissions.
- Point-in-time data designed to avoid survivorship and look-ahead bias, with fundamentals, estimates, corporate actions, sector and industry classifications, and historical issues.
- Create 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.
What The Ledger Terminal does best
- Direct access to one-page stock tearsheets that combine business description, historical financials, valuation visuals, quality checks, SEC filing links, and relevant news.
- More than 10,000 US stocks, plus UK companies sourced from ESEF filings.
- Review SEC EDGAR-derived financial-statement history with source filing links, automated QA checks, annual and quarterly data, and trailing twelve months where available.
- Log-scale valuation charts to compare price against fair value views such as P/E, P/FCF, P/CF, and P/OE owner earnings.
- Support for applying a 9-point quality checklist covering profitability, growth, capital efficiency, shareholder returns, fair value, and balance-sheet health.
All details
Every attribute we track for Portfolio123 and The Ledger Terminal.ShowHide
All details
| Attribute | ||
|---|---|---|
| Coverage & fit | ||
Asset types | StocksETFsClosed-End Funds | Stocks |
Experience | BeginnerIntermediateAdvanced | BeginnerIntermediateAdvanced |
Target audience | Retail TradersPro RetailInstitutional InvestorsAnalystsQuants/DevelopersFinancial AdvisorsStudents/Researchers | Retail TradersPro RetailLong-term InvestorsValue InvestorsQuality InvestorsGrowth InvestorsDividend InvestorsAnalysts+1 more |
Regions | North AmericaEurope | North AmericaEurope |
Coverage details | Countries: US and CAIdentifiers: Ticker | Countries: US and GBIdentifiers: Ticker |
| Data | ||
Data freshness | Real-timeEnd of Day | End of Day |
Data granularity | EOD | EOD |
Pricing sources | Not specified | VendorModel |
Data partners | FactSetS&P Global Market IntelligenceICE Data ServicesFRED | SEC EDGARThird-party financial dataFinancial outlets and wire services |
| Access & integrations | ||
API protocols | REST | Not specified |
API auth & delivery | Auth: APIKeyDocs | Not specified |
Import methods | BrokerOAuthCSV | Manual |
Integrations | Interactive BrokersTradier | SEC EDGAR source linksThird-party financial data |
Export formats | CSVJSON | Excel |
| Plans & trust | ||
Security & compliance | Not specified | Data residency: EU and OtherEncryption in transit |
Capability signals | Custom formulasRanking backtestsUniverse builderBroker syncRebalancingCorrelation | Universe builderFactors: Value, Quality, Growth, and Size |
Vendor & support | Portfolio123Support: Forum | The Ledger TerminalCountry: PortugalSupport: Email |
Green tags are exclusive to that tool in this comparison.
Pricing
Plans, billing, free trials, and monthly prices.ShowHide
Pricing
| Tier | ||
|---|---|---|
| Free plan | Free“Manage (Free)” | Freeanonymous daily stock views: 1 · authenticated daily stock views: 6 · +2 more |
| Entry paid plan | $300/yr≈ $25/mo“Screener (Annual)”backtest history years: 5 · resource units: 400 · +1 more | Subscription“Pro (Annual)”annual renewal usd: 144 · financial history years: 15 · +1 more |
| Tier 2 | $35/mo“Screener (Monthly)”backtest history years: 5 · resource units: 400 · +1 more | — |
| Tier 3 | $1000/yr≈ $83.33/mo“Backtest (Annual)”backtest history years: 10 · resource units: 1,000 · +1 more | — |
| Tier 4 | $116/mo“Backtest (Monthly)”backtest history years: 10 · resource units: 1,000 · +1 more | — |
| Tier 5 | $1500/yr≈ $125/mo“Portfolio (Annual)”backtest history years: 15 · resource units: 5,000 · +1 more | — |
| Tier 6 | $174/mo“Portfolio (Monthly)”backtest history years: 15 · resource units: 5,000 · +1 more | — |
| Tier 7 | $2400/yr≈ $200/mo“Ultimate (Annual)”backtest history years: 20 · resource units: 10,000 · +1 more | — |
| Top plan | $278/mo“Ultimate (Monthly)”backtest history years: 20 · resource units: 10,000 · +1 more | — |
| Custom / enterprise | Contact sales“Professional / API & Data Licenses” | — |
| Free trial | — | 7 days |
Questions we keep getting
What's the difference between Portfolio123 and The Ledger Terminal?
Portfolio123 leans toward screeners, data visualizations, and quant, while The Ledger Terminal puts more weight on stock ideas, screeners, and stock comparison. They overlap in 10 categories, so for most people it comes down to workflow preference and price.
How much do Portfolio123 and The Ledger Terminal cost?
Good news: both Portfolio123 and The Ledger Terminal have free plans, so you can run them side by side and only pay if you hit a wall.
Does Portfolio123 or The Ledger Terminal have an API?
Portfolio123 has an API for programmatic access and custom integrations. The Ledger Terminal doesn't, so you're working through its interface.
Should I choose Portfolio123 or The Ledger Terminal?
It depends on what you're after. Pick Portfolio123 if quant and portfolio matter to you; go with The Ledger Terminal if you'd rather have stock comparison and alerts. And if you only need the basics both share, let price decide.
What asset classes do Portfolio123 and The Ledger Terminal cover?
Both cover stocks. Portfolio123 also handles ETFs and closed-end funds.
Does Portfolio123 or The Ledger Terminal have real-time data?
Portfolio123 offers real-time data, which matters if you trade actively. The Ledger Terminal 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.
Can I export data from Portfolio123 and The Ledger Terminal?
Yes, both export to spreadsheets (Portfolio123: CSV; The Ledger Terminal: Excel), which is handy if you like running your own numbers.
Can Portfolio123 or The Ledger Terminal connect to my broker?
Portfolio123 syncs with brokers automatically. With The Ledger Terminal, you're entering holdings by hand or importing files.
Which has a better stock screener: Portfolio123 or The Ledger Terminal?
Both Portfolio123 and The Ledger Terminal 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 Portfolio123 or The Ledger Terminal?
Portfolio123 handles portfolio tracking. The Ledger Terminal is really a research tool; you'd track your portfolio elsewhere.
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