Ease of Use
Wallmine is a portfolio tracking and stock screening software that launched in 2018. This software’s goal is to make it simple for you to keep track of your performance while using multiple brokerage accounts. Wallmine offers a variety of features and tools including portfolio tracking, a stock screener, SEC reports, stock summaries, and more. Is this software the right choice for you? Find out in this review of Wallmine.
Wallmine is a portfolio tracking and stock screening software launched in 2018. The platform provides an easy way to keep track of your performance when using multiple brokerage accounts. It also offers tools for finding new stock and crypto investments and researching SEC filings. Many of Wallmine’s features are free, making this service a great tool for many investors.
Keep reading to find out whether Wallmine is the right portfolio tracking service for your needs.
Most of Wallmine’s features are free to use, including its portfolio tracker and stock screener. You can track unlimited portfolios, each with an unlimited number of positions, at no cost.
You can upgrade to the Hobbyist plan for $50 per month. This eliminates ads on the platform and allows you to search SEC filings and export data from filings. The Professional plan, which costs $250 per user per month, is designed for sharing portfolios within teams.
The main feature within Wallmine is portfolio tracking. Wallmine works similarly to most other portfolio trackers in that you can easily track your performance and diversification. Wallmine lets you see all your transactions for a specific stock and benchmarks your performance against a number of US indices. You can also keep track of what industries your holdings fall into and what countries they are spread across.
On the whole, there isn’t much that’s unique about the portfolio tracker in Wallmine. It’s nice to use, but mimics the functionality of the tracking tools that most brokers offer.
An important thing to note is that if you have more than one portfolio – for example, representing different brokerage accounts – there’s no way to analyze holdings across multiple portfolios at the same time. This can make it hard to determine how diversified you are across all of your investments as opposed to within a single account.
Wallmine offers a basic stock screener that sorts stocks based on a variety of common fundamental parameters. The screener also includes a handful of technical indicators, such as RSI and MACD, but don’t expect anything too advanced in this regard.
Unfortunately, the filters are not very customizable. Most quantitative filters come have a specific set of numeric bands to choose from (for example, the only options for RSI are less than 30 or more than 70). For descriptive filters, such as industry or country, you can only select one option at a time. This inflexibility limits the usefulness of the Wallmine screener for any serious analysis.
One nice thing about the screener is that the results are extremely well-organized. You can sort through tabs for different types of data related to dividends, recent performance, cash flow, profitability, and more. If you are able to create a thorough screen, you can then sort the resulting stocks according to any of dozens of parameters or visualize them on a heatmap or bubble chart.
The screener also has filters for insider trading activity, which some investors will find helpful. You can filter stocks by insider transaction type, the insider’s title or position, the size of the trade, and more.
Wallmine gives you access to SEC filings for thousands of US companies. You can conduct a full text search for phrases and limit your results to specific stocks by ticker symbol. However, this feature is only available to Premium users. You can get similar functionality for free using the SEC’s EDGAR database tool.
Wallmine does offer earnings call transcripts and cash flow statements for free, which is helpful. Even better, financial data tables can be downloaded to Excel for further analysis. Wallmine doesn’t offer much built-in capacity for analyzing or plotting financial data.
Wallmine has individual pages for each of the thousands of stocks the platform covers. These display pretty comprehensive financial data and recent price performance, along with basic technical charts and market news.
Two types of charts are available – overview charts and real-time charts. The overview charts offer daily candlesticks only along with several moving averages, and they cannot be customized with additional indicators.
Real-time charts are derived from TradingView. With these charts, you can view candlesticks down to one-minute intervals and apply any of more than 100 popular technical studies. You can also compare multiple stocks on a single real-time chart. It’s worth noting that you can get the same charts and access to even more customization features with a free TradingView account.
Somewhat oddly, Wallmine has a screener dedicated to cryptocurrencies. The platform doesn’t offer data for any other asset classes, including forex. In all, Wallmine tracks more than 3,000 cryptocurrencies.
The cryptocurrency screener is similar to the stock screener, except with fewer filter parameters since digital coins have fewer relevant fundamental metrics. As for the stock screener, you can sort results based on any of the available parameters and view customizable price charts for any coin. Results can also be visualized on a heatmap or bubble chart.
Wallmine Compatible Brokers
You can connect a Wallmine account to a brokerage account at Interactive Brokers, Charles Schwab, Fidelity, Robinhood, or others. All brokerage connections except for Interactive Brokers rely on an integration with the Plaid app.
The nice thing about connecting your broker to Wallmine is that all transactions are then tracked automatically within your portfolio. On the other hand, you cannot mix and match transactions into a single portfolio to automatically capture multiple brokerage accounts in a single portfolio on Wallmine. If that is your aim, you will still need to enter transactions manually in the portfolio tracker.
Wallmine Platform Differentiators
Wallmine does a nice job of combining a portfolio tracker with other helpful tools like a stock screener and access to financial reports. However, none of the features that Wallmine offer are unique, and the platform has a few important shortcomings.
For example, you can track multiple portfolios, but you can’t analyze all of your holdings across portfolios at the same time. Other portfolio trackers such as Sharesight, Personal Capital, or M1 Capital offer more flexibility.
The stock screener also doesn’t let you enter custom values for most filters, instead restricting you to preset values. The free stock screener offered by FinViz is far more customizable.
In addition, while having SEC filings available in Wallmine is nice, you can’t search them without an expensive paid subscription. Meanwhile, the SEC’s EDGAR database offers the same functionality for free.
What Type Of Trader Is Wallmine Best For?
Wallmine can be useful if you have a few small portfolios to track and want quick financial document access. The analysis capabilities are relatively limited, but Wallmine can still be useful if you use a low-cost brokerage like Robinhood that doesn’t offer many or any built-in portfolio tracking features.
That said, none of the tools that Wallmine provides are best-in-class, even if you want to limit your search to free services. Most investors would be better off using more customizable platforms for each of the individual functions that Wallmine offers.
- Free portfolio tracking tool
- Access to financial statements
- Basic stock screener included for free
- Easily sort through screener results
- Compatible with several popular brokers
- Paid plans are very expensive
- Cannot analyze investments across portfolios