How to choose between Direct Connect and the Advanced Brokerage Import

The easiest way of getting your investment accounts setup in StockMarketEye is to use the brokerage import feature.

In order to make it as easy as possible, StockMarketEye supports 2 types of brokerage import: the "direct connect" import and the advanced brokerage import.

Direct Connect Brokerage Import

With the direct connect brokerage import, StockMarketEye downloads your data directly from your brokerage. There are no other companies, computers or apps involved - StockMarketEye on your computer connects directly to the brokerage to download your investment data - hence the name "direct connect".

Direct connect uses the OFX protocol to communicate with the brokerage. Your username and password are sent from StockMarketEye directly to the brokerage's OFX servers to authenticate you and give you access to your data. StockMarketEye will store your brokerage's username and account numbers in order to facilitate retrieving new investment data. You can also choose to have StockMarketEye store your brokerage password, in which case we recommend considering password protecting your StockMarketEye data files.

Direct connect is available from most major brokerages in the United States - Vanguard, Fidelity, E*Trade, etc - but brokerages outside of the United States do not support direct connect. In StockMarketEye, you can choose from around 70 different US brokerages to use with the direct connect feature.

We recommend using the direct connect brokerage import if your brokerage is one that StockMarketEye supports. You will usually be able to get more historical transaction data through direct connect than through the advanced brokerage import.

You can import from as many brokerages and accounts as you need. There are no limits.

Advanced Brokerage Import

With the advanced brokerage import, StockMarketEye uses a 3rd party financial data aggregator to download your investment data from the brokerage. We have partnered with Yodlee, the industry's leading financial data aggregator, to offer the widest possible selection of brokerages.

When using the advanced brokerage import, the aggregator (Yodlee) will use the username and password you enter to login to your account at the brokerage. Your brokerage credentials (username & password) are securely stored by the aggregator so that it can automatically retrieve updated investments and transactions. StockMarketEye does not have access to your credentials, instead communicating with the aggregator via a read-only token which grants StockMarketEye access your investment data.

StockMarketEye has read-only access to your brokerage data. StockMarketEye cannot move, transfer, or invest money. StockMarketEye cannot create new accounts, or change passwords or permissions with any financial institution.

Yodlee supports thousands of brokerages from around the world - US, Canada, UK, Europe, Australia, India, South Africa and more.

We recommend using the advanced brokerage import if your brokerage is not one of the supported direct connect brokerages.

You can link up to 4 brokerages with the advanced brokerage import feature. There is no limit on the number of accounts at those brokerages that you can import. For example, if you have a 401k and an investment account at the same brokerage, you link the brokerage once (counted as 1 of the 4 brokerages you can link). Then you can import the 2 accounts as separate portfolios in StockMarketEye.

Comparing Direct Connect with Advanced Brokerage Import

Feature Direct Connect Advanced Brokerage Import
Number of supported brokerages 70+ 2000+
Countries supported USA USA, Canada, UK, Europe, Australia, India, South Africa and more
Number of brokerage links unlimited 4
Number of accounts per brokerage link unlimited unlimited
Essentials subscription required no yes
Brokerage credentials stored on your computer securely saved by 3rd party aggregator
Historical transaction availability depends on brokerage, but typically 90 days or more depends on brokerage, but usually 90 days or less

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