How to switch from StockMarketEye to Capitally

13 September 2023

StockMarketEye shut down on September 26th. As a loyal StockMarketEye user, this may come as an unwelcome surprise. But don't panic - I've got good news too. There's an easy to use alternative investment tracker that you can switch to called Capitally. Keep reading to find out why Capitally is the perfect replacement, and how you can make the switch quickly and easily.

How they compare?

Capitally stands out with its modern, interactive interface designed for exploration. It's a web application that works equally well on both desktop and mobile, and even offers offline functionality. Unlike StockMarketEye, Capitally allows you to track not only stocks and ETFs, but also a wide array of other assets such as crypto, real estate, collectibles, closed funds or any custom asset.

Multiple Accounts & Currencies

Capitally also supports tracking across multiple accounts that you can organise into a hierarchy using tags. It also boasts strong multi-currency support, allowing transactions, market prices, fees, and reports to be used in mixed currencies.

Technical Indicators & Stock Fundamentals

Unlike StockMarketEye, Capitally doesn't have technical chart indicators or stock fundamentals, but it still provides predefined performance reports for quick exploration, including going back in time. So if you pick your stocks based on fundamental or technical analysis and this is the main feature you're after - you might need to look somewhere else. For everyone else, a thorough performance charts with benchmarks is all they might need.

Privacy

In terms of privacy, Capitally is fully committed with end-to-end encryption, ensuring that your financial data stays in your hands only, while still being accessible on all devices you might have.

Taxes & Diversification

If your investment tracking needs involve tax handling and portfolio diversification reports, you'll be pleased to know that although these features are not yet available, they are planned for release later this year, before the tax season hits us with it's full veracity.

Imports

Capitally offers a mostly seamless transition from StockMarketEye with built-in support for importing transactions exported from SME. And while manual updates of transactions and balances are necessary when you buy or sell, custom import templates make this process quick and hassle-free. If you plan to import transactions from your broker, it's always a good idea to start fresh so no details are lost.

Price

Lastly, let's talk about the price. Capitally is priced at $50/year, making it more affordable than StockMarketEye, yet offering all its major features and more.

How to switch?

It's actually pretty straightforward, but if you encounter any bumps along the way, we're always ready to assist - just write to our support.

First, sign up for free trial with Capitally. Click here to get started.

Import straight from Stock Market Eye

This is the fastest way to move your data, especially if you want to try things out first. However, it's recommended to import your transactions straight from the brokers - this way you will make sure you will be able to keep track of them in the future as well.

  1. Export all your data from StockMarketEye before it shuts down on September 26th.

  2. If you have multiple portfolios, export them one-by-one - you will be able to create Accounts in Capitally to keep the same structure

  3. Choose ReportsTransactions

  4. Select timeframe

  5. Click More -> Export to CSV

  6. Make sure that Export columns necessary for re-import into StockMarketEye is checked

  7. Click Export and save the file

  8. Use Capitally's built-in support to import your transactions with ease.

Organising Assets

Capitally allows you to organise Assets, Accounts and Transactions using tags. You can easily recreate your portfolio structure from SME, but also get much more nuanced if you want to.

Handling dividends

Capitally creates dividend transactions automatically based on the market data. If you prefer these transactions from your broker, you have two options right now:

  • Manually edit generated transactions so they match your records (in theory they should, but it depends on the brokerage)

  • Import them from a broker and delete automatically generated ones. If the dividend transaction is imported with a proper ex-dividend date as it's date, Capitally will not add a duplicate.

Handling reinvested dividends

Capitally doesn't have a dedicated transaction type for reinvested dividends (nor most of the brokers). Such transactions will need to be imported twice - once as a Dividend, and once as a Buy. Our built-in template doesn't handle this at the moment, but you can map the reinvestment transaction to a Buy.

So reinvested dividends will be tracked as two transactions - a Dividend and a Buy.

Updating Cash Balances

Capitally currently does not do double-sided booking, which means that your cash balance will not be affected by a buy or sell. You can track cash balances by utilising Account Balances or Transfer transactions, but in terms of brokerage accounts, it will skew the results, as Buys and Sells won't affect the balance.

There are two options:

  • Don't import cashflows, your returns and IRR should still be correct based on your stock transactions

  • Add Account Balance transactions after Buys and Sells that set the cash balance to the proper value

Double-sided bookkeeping is planned for one of the future updates.

Support for CDs, CFDs, Treasury Bills and Bonds

Capitally does not have market prices for derivatives, treasury bills or bonds at the moment. The only way to track them, is by creating a custom asset and adding it's prices manually.

Support for Short selling and Options

Capitally does not support such transactions per-se, but as it's pretty flexible, it actually allows you to track them using Price Formulas.

Final words

Don't let an app shutdown set you back. Instead, turn this into an opportunity to level up your investment tracking experience with Capitally.

It's not a 1 to 1 replacement, so try for yourself, but with the possibility of tracking more than just Stocks, a privacy-focused user-and-mobile-friendly interface and a host of future updates, Capitally can be more than just a replacement— it could be an upgrade.

Rafał Lindemann
Capitally Founder
Hey there! I'm Rafał, the guy behind Capitally. I'm all about living life on my own terms—packing up to travel whenever I want, or diving deep into whatever topic has me fascinated at the moment. For me, that freedom comes from building long-term wealth through smart investing. But I found most tools too restrictive and fragmented. I wanted flexibility of a spreadsheet and user-friendliness of an app in one place! So I created Capitally to help folks like you and me devise and track our own paths to financial independence.