The main difference is that ThinkOrSwim streams quotes into Excel only while the ThinkOrSwim platform is open (through its RTD link), while MarketXLS is a standalone Excel add-in that returns streaming quotes, technical indicators, option chains, Greeks, historical data, and fundamentals as formulas without a trading platform running. Real-time streaming in MarketXLS requires the Advanced or Business plan; the Standard plan provides 15-minute delayed stock quotes and end-of-day options data. The table below compares the two feature by feature as of 2024.
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| Feature | MarketXLS | ThinkOrSwim |
|---|---|---|
| Independence from Trading Platforms | Operates independently of trading platforms. | Requires the platform to be open. |
| Advanced Trading Functions | Trade-ticket links for ThinkOrSwim were offered in 2024; confirm current availability with support@marketxls.com | Limited to real-time data streaming. |
| Real-Time Intelligence | Real-time RSI, SMA, and technical indicators. | No technical indicators within Excel. |
| Historical Data and Option Chains (Tabular data) | MarketXLS returns tabular data of various needs. Historical, Option Chain, Option Filtering and many more | Historical data available within the platform, but limited Excel export options. |
| Customizable Real-Time Greeks | User-defined real-time Greeks. | Provides calculated Greeks within the platform interface. |
| Advanced Key Ratios | Access advanced key ratios and metrics. | Basic fundamental data available in the platform. |
| Advanced Option Trading Functions | Functions for current at-the-money strikes and expirations. | Comprehensive options trading and analysis within the platform. |
| Comprehensive Research | Extensive research and analysis tools. Stock return function, Volatility function, Portfolio Analytics functions | Extensive research tools within the platform interface. |
| Financial Functions | 1,000+ financial functions. Quotes come from QuoteMedia; historical and fundamental data from multiple licensed sources | Basic financial data; not formula-based in Excel. |
| Support | MarketXLS provides personalized support, hand holding, spreadsheet guidance | Community forums and standard broker support. |