Koyfin Review – Is This Research Platform Worth Using?

What is Koyfin?

Koyfin.com is an online financial markets data research and analytics platform with unique tools for both traders and investors. The platform provides useful fundamental analytic tools to enhance stock analysis through visual financial metrics tools. Users can scan and compared investment candidates across most asset classes. The financial visualization tools are unique on this platform and underscores the “data visualization” element of the software.

Currently, the software is free of charge as the company continues to enhance features while structuring a premium pricing plan. This fintech startup launched in 2018 and received a $3 million funding round in September 2019 to enhance the product as a data visualization investment research platform, which has surpassed over 10,000 users. The platform is designed for both retail and institutional users and is used at firms like Goldman Sachs, Barclays, BlackRock, and Franklin Templeton. 

So, is Koyfin the right choice for your platform needs? Let’s find out in this Koyfin review.

How Much Does Koyfin Cost?

The Koyfin platform offers a free membership that allows users to start testing out the platform.

Premium subscriptions are available from $45-$100/month, with 30% discounts on annual subscriptions.

What Do Koyfin Customers Get?

Here are some of the notable features and indicators on the platform. 

Charts/Graphs

There are two types of charts or graphs, as Koyfin calls them. The financial metrics charts visually display fundamental and quantitative data to illustrate trending growth or deceleration of various metrics like EPS, EBITDA, PE, as well as analyst estimate trends. This feature is available in research platforms like Ycharts and Stock Rover as well, but it definitely provides valuable insights.

I have to admit, seeing normal balance sheet metrics displayed on a chart immediately gives you a better idea of the company’s performance. It truly opens your eyes to fundamental data when its display visually, especially if you are a technical chart-based trader. The other type of charts is the conventional stock price charts complete with the basic technical indicators. While they are adequate, the fundamental charts really live up to the “financial visualization” theme of the platform.

Technical Indicators 

Koyfin has preset Technicals indicators, including Simple Moving Averages, Volume, Bollinger Bands, Rate of Change, and RSI. Users can configure the settings and have access to drawing tools like Fibonacci retracements, channels, and trend lines for the candlestick charts. Market data, including short interest is very cool as you can see it rising or falling. The focus is primarily on fundamental data graphs/charts to visualize the performance of the financial metric and to compare it to indexes, industries, and peers. Don’t expect to use advanced charting to plot intraday scalps on this platform. It’s more fitting for deep fundamental research.

News Dashboard

Koyfin has a very convenient News Dashboard that you can use for any stock under the Security Analysis. It will display public news articles from various sites ranging from Benzinga, Seeking Alpha, Yahoo, Zacks Investment Newswire, and Globenewswire, as well as SEC filings. It also displays Twitter posts related to the stock. Keep in mind the Twitter posts appear delayed but also filtered through most of the garbage bot spamming of services and products. The main Dashboard also enables Trending and Latest News that can catch you up to the day’s themes.

Scanners

While there’s no configurable technical scanner, there are lots of lists that users can search for candidates. Under Equities, traders can search for Mover, IPOs, Market Scatter charts, and Lots of Charts, which provides multiple charts of stocks within pre-defined lists by sectors and themes. Users can select small, mid, or large-caps. Again, the technical indicators are limited to basic simple moving averages, Bollinger Bands, volume, and RSI. 

The scanner is a nice addition to the platform, but nowhere near as feature-rich as a scanner like FinViz or StockFetcher.

Drawing Tools

These are limited to trend lines, shapes, channels, Fibs, labels, and text. These tools are best for those who wish to mark up charts with notes. Not the largest supply of drawing tools; however, they are adequate for basic use. The limited nature of many of the tools makes it easy for beginners to learn the platform, while advanced users may find it too rigid.

Watch Lists

There are pre-set watch lists as well as the ability to create your own watch lists, also referred to as dashboards that can be shared. I prefer setting my own watch lists. Adding stocks to the watch lists is as easy as just clicking the Add to Dashboard on any stock you search for. The dashboards can be configured to display a wide variety of financial data and trading price stats. 

How Does Koyfin Compare to Other Services?

Koyfin is a social platform that enables watch lists (dashboards) to be “shared” with other followers on the platform. Users can build up a following as well as follow others on the platform based on various performance metrics. You can also keep tabs on who is following your dashboards. This enables for sharing of ideas and monitoring of what others are watching. The seemingly filtered Twitter postings tend to be more relevant, especially without the sponsored advertisements, and appear to have less spam bot noise. The combination of all the features along with the data visualization factor for a price of zero truly differentiates Koyfin from the rest of the crowd. 

Is Koyfin Worth the Money?

Can you say heck yes? The value derived for the price of zero means you get more than your money’s worth. This is a tremendous value for the tools and free data you receive. I have to admit how shocked I am at the depth of qualitative data and financial metrics the platform provides for free. Some of the data is as rich and “premium” as what you’d pay for on a Bloomberg terminal. It is worth noting that the company will eventually roll out a premium pricing plan in the future. It’s also refreshing that there are no banner ads or pop-up ads that are rampant with other so-called “free” platforms that literally extort you into a pay plan just to bypass the non-stop ads.

Is Koyfin Right for You?

Koyfin is best for fundamental-based swing traders and self-directed active investors due to the powerful research and data visualization tools. The depth of fundamental up-to-date data available is impressive. While the information can be found with some legwork, the fact that it’s available in one spot (for free) is truly amazing. Active traders won’t benefit much from the rigid and limited structure of the pre-set price charting. However, the news feed is free and worth using when trying to identify the source of large price moves.