MoneyVidya is an awesome new startup in the Indian social stock picking market. Once you sign up for the service, you start picking stocks and build your virtual portfolio (No real money is involved – duh !!). You can pick stocks based on the stock trend and also factor in member ratings and sentiment. Based on how your portfolio performs and how many top performing stocks you picked, you earn karma points – or a member rating.
As per Gaurav, founder & CEO, their member rating system is uniquely tailored to track performance of the investment advice over a period of time in terms of return & risk (example – if I pick buy RIL for 2 months, the rating system takes into account return-risk over this 2 month period). Higher member ratings of course gives you bragging rights and respect.
Some really great features of the site:
* Very user friendly UI & navigation and incredibly easy to add stock picks
* Easily accessible info on the site about stock research, stock comparison, stock performance etc.
* Tonnes of features to interact with the community – you can write your own blog, ask questions, discuss in the forums, start a poll etc.
They seem to have covered pretty much all the features that you’d seek out in a social investing site. Not bad for an app that’s still in alpha.
One of the main suggestions I have for them is to make the post-registration process a bit more streamlined. Ask a lot of profile related questions (I know users have option to skip the steps) and it may deter some users from completing the registration.
Markethero is another competing startup, but overall, I think MoneyVidya packs quite a punch in terms of features, content and user friendliness.
Let me know what you think.