Money Net is an incredibly powerful financial platform designed specifically for retail traders and investors.
With its user-friendly interface, real-time market data, advanced charting tools, and integration with multiple brokers, it provides traders with everything they need to make informed investment decisions.
In this article, we will review the benefits and drawbacks of Money.net, take a closer look at its major features, and explore the financial instruments it covers.
Finally, we will sum it all up and take a look at if Money.net is worth it and if it’s worthy of its title as a “Bloomberg Killer”
Contents
- Benefits of Money Net
- Money Net Drawback
- Major Features of Money Net
- Financial Instruments
- Money Net Youtube Channel
- Pricing
- Conclusion
Benefits of Money Net
There are plenty of benefits for such a versatile platform; its user-friendly interface is the largest one to stand out, though.
The platform is designed to be intuitive and easy to use, making it accessible to traders and investors of all levels.
This is especially important for retail traders who may not have the time to devote to learning something as hefty as a Bloomberg terminal and almost certainly don’t have the disposable income to spend on its heft price tag.
With Money.net, traders can quickly and easily access the information and tools they need to make informed investment decisions without the drawbacks of a BBG terminal.
Another major benefit of Money.net is its real-time market data.
The platform gives traders access to up-to-the-minute data on stocks, futures, forex, options, and cryptocurrencies.
This allows traders to make informed investment decisions based on the most current market conditions.
This is especially important for traders looking to take advantage of short-term market trends or those who day trade off the available data.
In addition to real-time market data, Money net also provides traders with advanced charting tools.
These tools allow traders to visualize market trends, identify key levels of support and resistance, and make informed investment decisions.
The platform’s charting tools are highly customizable, allowing traders to tailor them to their specific needs and preferences.
Money net also offers up to the second news available with any of their paid plans.
This is incredibly helpful because, as many traders know, finding a reliable and fast news aggregator can be incredibly difficult.
Money.net handles it for you.
Finally, Money.net provides traders with customizable watchlists.
This allows traders to keep track of the stocks, futures, forex, options, and cryptocurrencies that they are most interested in.
The platform’s watchlists are highly customizable, allowing traders to tailor them to their specific needs, preferences, and trading style.
Money Net Drawback
In looking around Money.net, I found only one major drawback: their pricing.
They have several different tiers for the retail investor, but if you are going to utilize the platform to its fullest potential, you will need to sign up for the most expensive option (pricing will be discussed below).
Tied into this drawback is the data available for the highest tier; you will still be using delayed global equities and options data.
If you are an investor with a longer time horizon, this will likely not be an issue for you.
However, if you are an active options trader, you may need to explore the institutional options and see if you qualify.
Major Features of Money Net
As mentioned earlier, Money net offers a range of major features designed to help traders make informed investment decisions.
These features are as follows:
Real-time market data:
The platform provides traders with access to real-time market data on stocks, futures, forex, options, and cryptocurrencies. This allows traders to make informed investment decisions based on the most current market conditions (Options and Global equities are delayed for retail).
Advanced charting tools:
Money.net provides traders with advanced charting tools that allow them to visualize market trends, identify key support and resistance levels, and make informed investment decisions. The platform offers everything from normal OHLC charts all the way to the more advanced renko charts and many options on the in-between.
Customizable watchlists:
Money.net’s watchlists allow traders to keep track of the stocks, futures, forex, options, and cryptocurrencies that they are most interested in.
News and analysis:
Money.net provides traders with up-to-date news and analysis on stocks, futures, forex, options, and cryptocurrencies. This helps traders stay informed about market trends and make informed investment decisions.
Strategy Builder:
One of the cooler and more interesting features of Money.net is the strategy builder. This does exactly what the name says. It allows you to build and test almost any strategy you can think of against their data. It’s very user-friendly and extremely useful for creating new trading plans.
Integrations:
There are several programs that allow you to integrate the Money.net data. Excel comes with an extra fee of $30 regardless of the subscription level you choose; they also offer Mathworks (Matlab), so you can work with the data through your own scripts if that’s something that interests you.
Scout Chat:
Scout chat is their version of a chatroom. It allows you to communicate with other traders, industry pros, and educators. That is included in the higher sub-tiers, or you can choose to forgo the data and only sign up for that service.
Financial Instruments
Money.net covers a wide range of financial instruments; most have real-time data included, but several have delayed data.
Those instruments are only delayed on the retail plans and are denoted next to the instrument.
The list of instruments includes:
Stocks:
Money.net provides traders with real-time market data and stock analysis from various exchanges around the world. US equities are included with the retail data plans. Global options are available through an institutional plan.
Futures:
Money.net provides traders with real-time market data and analysis on futures contracts.
Forex:
Money.net provides traders with real-time market data and analysis on currency pairs. Mostly the majors are covered since there is not a centralized exchange data is the same as most other forex brokers.
Options:
Money.net provides traders with delayed OPRA data for option chains. Options data is only available through the “Platinum” subscription.
Cryptocurrencies:
Money.net provides traders with real-time market data and analysis on cryptocurrencies. Again like forex, there are no centralized exchanges, so market data will vary depending on the source.
Money Net Youtube Channel
Another interesting option from Money.net is their Youtube channel.
They have many videos on all topics involving trading and their platform.
You can view the tutorials they have posted, or you can view one of the many talented analysts they have on their channel.
They routinely have someone talking about the current state of the market or a specific sector they are looking at.
Whether or not you use their product, the youtube channel is a fantastic resource for traders.
One very popular guest on their youtube channel is Anne-Marie Baiynd.
With nearly 20 years of experience in the financial markets, Anne-Marie provides traders with valuable insights and advice on navigating the markets and making informed investment decisions.
Her videos on Money.net’s Youtube channel cover a wide range of topics, including market analysis, trading strategies, and risk management, and are usually very well received by the viewers.
Pricing
Pricing is one area that Money.net does not shy away from.
While the service is not particularly expensive when you compare it to other services, there are many levels to choose from.
First up are the lower two tiers, free and Scout chat.
They both allow you one watchlist and a few of the most basic features on the site.
That’s about it.
The major difference is that the Scout chat plan allows you access to the chatroom.
Next up is the Silver membership.
This will allow you to use real-time equities data and access the Scout Chat.
You will also have access to many more program features, including things like the ticker banner across the top of your screen, charts, the strategy builder, and heat maps.
This plan will likely be enough for the average equities trader.
Finally, there are the two top tiers, Gold and Platinum.
The main difference is data.
Gold includes real-time equities and indices, delayed options, global equities, and indices. You do not have access to options data.
You also have most of the platform features but still don’t gain access to things like the time and sales, unusual options activity, and phone support until you choose the platinum level.
This contains all the features Money.net can throw at you as well as access to all data they provide (some are still delayed).
By choosing Platinum, you get options, unusual activity, Time and Sales, and tier-1 customer service.
Advanced traders could probably get by with the gold membership, but if you need options data, Platinum is your only option.
Conclusion
To sum it all up, Money.net is a first-class financial platform and more than deserves its title as a Bloomberg Terminal killer.
You will gain access to an incredible suite of tools, all the data you could ever need, and an incredibly user-friendly and intuitive platform.
In addition, they offer a 14-day free trial to try it out.
If you are a serious trader, it is definitely worth the look!
We hope you enjoyed this article on Money net.
If you have any questions, please send an email or leave a comment below.
Trade safe!
Disclaimer: The information above is for educational purposes only and should not be treated as investment advice. The strategy presented would not be suitable for investors who are not familiar with exchange traded options. Any readers interested in this strategy should do their own research and seek advice from a licensed financial adviser.
