IG adds Tipranks to its trading platform

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IG has added Tipranks to its platform. Tipranks is an Israeli-based fintech that specialises in financial data and tools that power smarter investment decision-making. Tipranks is probably best known for tracking broker recommendations, that is upgrades downgrades changes to target prices earnings forecasts etc. However the firm offers much more than that.

Tipranks on IG

On top of the broker recommendations coverage, IG customers will also have access to Tipranks Smart Score.

This is a quantitative ranking system that scores every stock under its converge between 1 and 10, whilst placing them in one of three ratings categories.

Namely outperforming, neutral or underperforming.

For example, Tipranks Smart Score currently rates Apple as an outperform with a score of 8 out of 10.

By contrast, UK-listed Vodafone scores 4 and is rated at neutral, whilst E-commerce giant Amazon gets 10 out of 10 and an outperform rating.

Dashboards and charts

The smart score system also offers an at-a-glance dashboard, which shows:

  • Consensus recommendations
  • Price targets
  • The number of analysts covering the stock
  • The range of price targets
  • The upside or downside percentage to the current price

There is also a chart showing how those price targets have evolved, as well as a detailed, date-ordered list of analysts’ recommendations and target changes.

More in the pipeline

Tipranks will be launching another tool in 2024 which will show analysts’ top stocks by sector.

Allowing traders and investors to zero in on the most highly rated stocks, in a particular market segment, for example, energy, healthcare or finance.

Tipranks is a useful addition to the trader’s armoury, not least because it creates a one-stop shop for broker ratings, forecasts and price targets on a wide range of stocks.

Some of the data can be sorted and filtered by the end user, which helps create a powerful research tool.

Adding value

IG is adding value (stickiness) to its platform at a time when it’s becoming harder, and more costly, to source new clients.

And when its existing client base has been less active.

Through tools such as Tipranks, IG is providing its customers with the means to identify new trading opportunities and to make smarter, better-informed trading decisions.

That’s great as long as the clients remember the maxim that when something is free you are the product.

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