Anyone who follows the Thai stock market will know that it helps when you have accurate and relevant information to hand. But how do you do that? Thailand-based startup SiamSquared Technologies has an interesting Android and iOS app called StockRadars which helps users monitor the Thai stock market.
StockRadars app makes it easy to track the SET
There are dozens of stock market apps for every smartphone platform, but it’s not easy to find one that can help you manage your investments easily. Sorting and managing the stocks that you follow take time and often requires lots of specialist knowledge that takes time to research.
StockRadars is basically a stock analysis app which makes it easier to understand the stock market. It has a series of “radars” which allow users to specify certain criteria that they want to monitor. The app will trawl through the market data, analyse the chosen stocks and show which ones meet the criteria selected.
Users are able to customise the radars and there are a selection of default ones, but there are additional features that can be purchased such as the P/E ration. The app currently checks hundreds of stocks on the Thai stock market (the Stock Exchange of Thailand or SET), but you can download it from the app stores of any country, making it a convenient way for foreign investors to monitor their Thai investments.
StockRadars detects relevant stock signals, like the price or volume movement and displays the details in the form of a cube. Yon can then flip it around to see details such as the closing price and other stock-related data.
CEO of the company, Max Kortrakul, says the company aims to cover more markets other than the SET in future, and add support for more languages. 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 has proved so popular that just a month after it was launched last year it notched up 30,000 downloads in under a month, and was also a featured app in the Thai App Store. There are now more than 130,000 users and the company says they’re aiming for 300,000 by the end of 2015. Apparently 5-10% of users opt for the premium service, which costs about 5,000 baht per year.
StockRadars has plans to add more features for investors in over five countries, including Singapore, Indonesia, Japan, Hong Kong and Australia, and should be available in five languages within two years.
SOURCE: Bangkok Post