Atom Finance seeks to democratize the world of economic evaluation by providing free knowledge and instruments to on a regular basis traders. However does it stay as much as the hype?
Need Bloomberg Terminal insights with out the $24,000 pricetag?
Atom Finance is your reply.
The platform works by offering high-quality market analysis to on a regular basis traders for free.
On this article, we’ll focus on the options, professionals, and cons of Atom Finance and stack it up towards the competitors. See if Atom can meet (and even exceed) your investing wants under.
What Is Atom Finance?
Atom Finance is a Brooklyn-based fintech firm providing funding analysis and evaluation.
It was created in 2018 by Eric Shoykhet, a former institutional analyst at monetary giants Blackstone and Governor’s Lane.
As of this writing, Atom Finance has obtained roughly $18M in funding, starting with $2M in seed funding in 2018 and two rounds of Collection A funding in 2019 and 2020.
The corporate positions itself because the Robinhood of investing analysis. The place Robinhood eradicated buying and selling charges and the necessity to undergo a dealer, Atom eliminates the paywall of institutional-level knowledge and analytics.
For instance, Bloomberg Terminal (which affords the same suite of instruments) prices $24,000 per 12 months. Atom’s Primary Account is free. Their Premium Account is simply $9.99 per 30 days for full entry to their options.
Atom Finance additionally differentiates itself with the interactivity it affords. Customers can chat with different traders in channels primarily based on pursuits like #daytrades or particular shares, like #TSLA. An Atom chatbot will even contribute information to related channels all through the day.
Other than Bloomberg, Atom solely seems to have two true opponents: Wallmine and Koyfin. We’ll break every down later within the article.
Is Atom Finance a superb app?
Sure, Atom Finance is intuitive, secure, and straightforward to make use of. Take note, it takes time to get used to due to the overwhelming quantity of information and knowledge out there.
How Does Atom Finance Work?
You may entry your Atom account on-line at atom.finance or on their cellular app. (Obtain: Apple, Google Play)
Customers can hyperlink present brokerage accounts (corresponding to Robinhood, eTrade, and Constancy) to Atom utilizing Plaid, which ensures safety with banking-level encryption expertise.
You may see all of your investing accounts aggregated in a single place and assessment uncooked holdings, sector weight, total efficiency, and extra straight within the app.
With Atom’s free Primary account, you have got entry to:
- Market information and updates
- 3 custom-made day by day briefings (morning, afternoon, and night)
- Inventory and portfolio alerts corresponding to value alerts
- Inventory screener to filter inventory choices and discover investing concepts
- X-Ray, an in-depth monetary analysis search engine for SEC filings, occasions, and updates
- Day by day traits (high winners and losers)
- Premium metrics by sector, corresponding to common income per person (ARPU) and day by day lively customers for social media corporations
- Full entry to speak with fellow traders
With Atom’s $9.99/month Premium account, you get:
- All of the options of Primary
- Mock portfolio accounts to simulate positions and trades
- Portfolio fund look-through to entry full underlying holdings of ETFs and mutual funds
- Limitless institutional-grade articles and alerts (Primary receives 3 per 30 days)
- Limitless analyst consensus estimates for projections of development charges, margins, and different knowledge (Primary receives 3 per 30 days)
- Export to Excel performance permits you save all of your portfolio knowledge into spreadsheet format
How A lot Does Atom Finance Price?
Atom affords free and Premium accounts. Premium prices $9.99 per 30 days. Nonetheless, as you may see above, the free account features a important quantity of stories, evaluation, knowledge, and stories. Primary ought to meet the wants of most particular person traders.
Execs and Cons of Atom Finance
Like every funding analysis platform, Atom Finance comes with its personal distinctive professionals and cons. Assessment the small print under to see if Atom Finance is price your time.
- Utterly free for a Primary account
- Easy connection to your brokerage accounts
- Means to work together with different like-minded traders in chat
- Detailed analysis and stories
- Stunning web site and cellular app
- Tight security measures
- Some options behind a (modest) paywall
- Gradual buyer assist
- No stay chat
- Unable to commerce on the platform; just for analysis and data
- Information feed does not embrace some big-name platforms (like Bloomberg)
Does Atom Finance have charges?
Atom Finance doesn’t presently have any charges.
Find out how to Contact Buyer Assist
No electronic mail or telephone quantity is listed on the Atom web site for buyer assist, however customers can submit a request on their web site.
At the moment, there does not appear to be a “Assist” choice out there on the cellular app, which is a draw back.
A number of Google Play evaluations point out how troublesome and time-consuming it’s to cancel your premium account due to the lackluster buyer assist, so maintain that in thoughts
Is Atom Finance Secure to Use?
Completely. Atom makes use of Plaid to hyperlink your brokerage accounts, so your data is secure and safe. Your knowledge is absolutely encrypted and Atom doesn’t obtain entry to your account credentials.
Plaid’s privateness coverage assures clients that their knowledge won’t ever be offered or rented to 3rd events.
Generally used with digital-only banking purposes, Plaid is revered within the monetary house for its security measures.
Is Atom Finance Legit?
Sure. The corporate is a authorized entity registered below the title Atom Finance, Inc. and has obtained seed funding from reputable capital enterprise companions.
How Atom Stacks As much as the Competitors
Subsequent, we’ll check out how Atom compares to its two main opponents: Wallmine and Koyfin.
Notice: you will not discover a direct comparability to Bloomberg Terminal right here. In all probability, traders which are all in favour of a free or low-cost investing analysis device are usually not all in favour of an alternate costing $24,000 per 12 months.
Wallmine vs. Atom Finance
Each of those platforms present comparable companies. Each help you hyperlink a number of brokerage accounts by Plaid to view portfolio efficiency. Each present inventory screening instruments and SEC report search engines like google. Each present market information and updates.
Nonetheless, I give Atom the benefit right here. Whereas Atom’s premium service is $9.99 per 30 days, Wallmine fees $50 per 30 days for its upgraded companies.
Atom additionally supplies a number of different analytics companies that Wallmine doesn’t, corresponding to in-depth day by day briefings and a calendar of upcoming essential occasions for the funds you observe — earnings stories, for instance.
Lastly, Wallmine makes cash from promoting on its web site, which will be distracting.
Koyfin vs. Atom Finance
Koyfin affords some choices that Atom presently doesn’t. With Koyfin, you may create graphs utilizing totally different metrics after which obtain them for displays, embed them onto your web site, or just save them in your personal information.
Past that, each present practically an identical choices in barely totally different packages. Atom does help you chat with fellow traders, which is a pleasant contact Koyfin doesn’t provide.
Koyfin is presently 100% free., though they plan to launch a premium model within the close to future. In line with their web site, Koyfin plans “to launch our paid plans within the first half of 2021.”
I will withhold judgment right here till Koyfin releases the worth of its premium plan. These two choices seem like a coin flip at current.
Robinhood vs. Atom Finance
Simply to clear up any confusion, Atom isn’t a competitor of Robinhood. Robinhood is a brokerage service — the place you should buy and promote shares and ETFs on the open market — whereas Atom Finance is an funding analysis device.
Robinhood does present restricted analysis instruments, corresponding to information updates and statistical details about each fund out there on its platform.
However Atom actually takes the cake for those who’re evaluating it to Robinhood purely on analysis capabilities.
It relies on your wants. Crypto traders would most likely be higher suited to Robinhood. Nonetheless, M1 Finance is a robo-advisor that provides nice capabilities corresponding to portfolio rebalancing, whereas traders are on their very own with Robinhood.
Backside Line: Is Atom Finance Any Good?
It is onerous to consider it is free, however even at a modest value level, Atom Finance could be an asset to particular person traders. Atom supplies a large array of knowledge on portfolio efficiency, fund statistics, sector knowledge, and investing fashion methods like development, worth, and excessive dividend.
The sheer breadth and high quality of instruments out there will depart even skilled traders coming again each day.
I’d extremely suggest Atom Finance to anybody who’s critical about taking their investing playbook to the following stage.
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