StockRadars app detects hidden gems in the stock market

Nearly every smartphone comes with a default stocks app, and if it doesn’t, then there are hundreds easily within reach. But since investing is all about reducing risk, obtaining accurate, timely, and relevant information is key. In addition, sorting and auditing stocks is time-consuming and requires specialized knowledge. With that problem in mind, Thailand-based startup Siamsquared Technologies has developed StockRadars, an app that helps users monitor the Thai stock market

How it works

Launched back in August, StockRadars is a stock analysis app that simplifies information for investors to help them better understand the stock market, thereby decreasing risk. The app uses its radars as tools through which users can set specific criteria for the stocks they wish to monitor. The app then parses through market data, analyzes each stock, then indicates which stocks match each radar’s criteria.

Users can choose radars based on their needs, and different types of radars are available for different type of investors. StockRadars comes with a free set of default radars but users can purchase additional radars with more advanced criteria such as P/E (price per earning), P/BV (price per book value), RSI signal, MACD signal, and Candle Stick. Additionally, advanced users can tailor the criteria for their own radars. The app currently scans 500 stocks on the market, which fall into 70 radar types everyday.

Going beyond the Thai stock exchange

StockRadars only analyzes the Stock Exchange of Thailand (SET), but the app remains available for download in all countries. As a result, foreign investors can use the app to monitor their investments Thailand.

According to Max Kortrakul, StockRadars’ CEO and co-founder, the startup plans to go beyond the SET in the future and offer analysis for other markets:

Since StockRadars was designed from day one to support multiple markets, we plan to open our service in Singapore’s SGX within first quarter of next year and other Southeast Asia markets after that.

Staying above the radar

Besides the traditional stock apps, the company doesn’t seem to worry much about other competitors, at least in the Thai market. Max commented:

Currently, there is no direct competitor in this area since the finance market in Thailand is quite a virgin land. Traditional stock trading apps may be our indirect competitors. Take Settrade streaming for example. But that’s if they want to provide the analysis for the users. Our plan is to integrate social into stock trading, making it simple for people to understand. To be a leader in this game, we have to compete with ourselves more than we have to compete with others. The key challenge is getting new investors to use the app.

StockRadars achieved 30,000 downloads less than a month after it was launched back in late August. Currently, the app has a total of 45,000 downloads, with approximately 10,000 active users per month. It was also listed as a Featured App in the Thailand App Store.

StockRadars is available on iOS and Android. Siamsquared Technologies is currently developing a version for Windows Phone.

(Editing by Josh Horwitz)