Financial Modeling Prep Reviews

Summary: Perfect for real time stock analysis using python programming. The cost of API is also much less with compare of others in the market.

Positive: Easy to fetch the real time data, flexibility and the variety of stocks. Setup is python is also straight forward. You can find features here to do your high level analysis.

Negative: Didn’t find any yet cons yet while using Financial Modeling Prep in the past couple of months.

Summary: Overall this is an API with a wealth of real time financial information which makes my app development and data analysis more efficient and importantly, reliable.

Positive: I like that Financial Modeling Prep is kind of an all in one financial API. It has real time stock data, financial statements, earnings estimates, earnings transcripts, earnings surprises, analyst upgrade/downgrade, crypto, sentiment, everything. And if I'm not wrong there are more and more endpoints appearing. Because of this, I am able to develop apps more efficiently as everything from their API is returned in the same structured format to process. The price is reasonable too.

Negative: Nothing much, except I am waiting for stock options real time data end point to be rolled out.

Summary: Overall, I highly recommend the Financial Modeling Prep Endpoint-API to who need to access financial data for their applications. It is a well-designed, reliable, and easy-to-use API that provides access to various financial data.

Positive: Financial Modeling Prep (FMP) offers a, well-designed API with a wide range of financial data, including real-time stock prices, historical data, financial statements, forex, and cryptocurrency information. It's accurate, reliable, and easy to use with comprehensive documentation. Ideal for developers, especially those with limited budgets. Highly recommended for accessing financial data in applications.

Negative: The FMP Endpoint-API is free to use, with a few limitations on usage.

Summary: Definitely recommend FMP to anyone who is wanting to access fast reliable financial data with the most affordable pricing on the market.

Positive: Very clear structured endpoints.
More than 150 endpoints that cover fundamentals and metrics and ratios.
A high speed websocket connection.

Negative: Nothing much / maybe they should send us regular updates whenever they do changes to the API endpoints.

Summary: "Fast and accurate financial data that powers our investment analytics platform - we wouldn't be where we are today as a company without them.

Positive: We've worked with Financial Modeling Prep for more than three years, and they have become our main financial market data provider. Our team operates an investment analytics business, and FMP serves as the backbone of our platform.

Since the inception of our business, I’ve seen FMP’s consistent commitment to innovation, both in terms of the breadth and depth of market data. They frequently introduce new datasets and expand their range of endpoints. We've seamlessly integrated several of their APIs into our platform and can confidently say that FMP is the best when compared to other provider, especially at this price. Our platform has great real-time and historical price charts, utilizing 1-minute OHLCV data thanks to their APIs. Our CTO and development team commented on how easy it was to integrate FMP input into our models and dashboard. Whenever we encounter issues or have questions, their team responds swiftly and effectively.

Our experience with Financial Modeling Prep has been nothing short of positive, and we're excited to see where they will be in the next few years.

Negative: Nothing on our end, looking forward to more data sets.

Summary: Very easy to automate calculations even with minimal coding skills, guides for spreadsheet integration.

Positive: High speed, easy to use API. Works with google sheets, high data integrity, many endpoints, fair pricing.

Negative: Would like to see filtering via more parameters (like filtering out companies that have a null value for industry).

Summary: Undoubtedly the finest financial market data API in terms of value. Its accuracy, dependability, timeliness, and exceptional customer support truly stand out. Kudos to the FMP team for their commendable efforts!

Positive: Financial Modeling Prep (FMP) has proven to be an exceptional financial market data API. In my role of sourcing and integrating public market data for our venture capital firm, I explored several options, including players like Bloomberg and Refinitiv. However, my pursuit for an alternative provider led me to FMP, which truly stood out in various aspects.

FMP's offerings encompass an impressive breadth of data, including financials, stock prices, historical data, earnings transcripts, institutional holders, economic indicators, dividend data, and more. This extensive range of data sources has been instrumental in enhancing our analysis and decision-making processes.

Reliable and accurate data is crucial in the VC space, and FMP has consistently met my expectations. The team is committed to delivering comprehensive, accurate, and timely data makes it an invaluable service for any venture capital firm or financial firm seeking public markets data

A standout aspect of their business is undoubtedly the promptness of their customer support team. Occasionally, encountering data discrepancies (not uncommon in the financial data realm) happens. However, what sets them apart is their ability to address such issues swiftly. Upon submitting a ticket, it's impressive to witness that within an hour or two, the matter is resolved.

Negative: While their documentation may appear slightly overwhelming, it's worth noting that they offer an extensive range of over 150 distinct endpoints. Adapting to the layout and locating specific endpoints takes a bit of time to get used to.

Summary: No downtime, saves our FinTech a lot of money vs yearly quotes in the tens of thousands for inferior data from other vendors .

Positive: Solid API at 1/20th the price of major vendors. Has all the major endpoints any FinTech needs for security related analysis.

Negative: Nothing to not like after 5 years of use, would like to see more proprietary quant endpoints.

Summary: The selling point for FMP is that it appears to offer a hundred endpoints for the same price that other providers charge for ten. So it seems like a deal. It turns out to be a fool's bargain, though. What you don't spend in money you will spend in time, trying to figure out how to chase down and eliminate all the bad data. I saw data for securities that have been redeemed and extinguished years ago, and I received phantom trading data for some tickers on days that were exchange holidays. So data quality assurance is just not something they do. Beyond that, some of the decisions they make about data aggregation are incomprehensible to any investing professional. For example, if you get hourly price history data from them, be aware that the **price data of the first 30 minutes of trading, from US exchange open to 10:00AM Eastern is fully discarded**. The first hourly record of a day returned by the FMP endpoint, timestamped to 10:00AM Eastern time, represents the interval from 10AM to 11AM and the last record of the day, timestamped to 4PM Eastern, begins and ends with the close. I don't think there's another data provider in the world who would do this. When I brought it to their attention, the CTO responded, telling me that this is was in fact intentional, and that a more accurate solution would be computationally too expensive for them.

Oh, and when I cancelled my subscription, I was denied a refund of the remaining prepaid term, while also instantly losing access.

Positive: Low price, lots of data. Customer support chat is usually responsive. Laudable attempts at educating users about DCF models.

Negative: Scattershot approach to endpoint design. Lot of overlapping or even incongruous data. Many endpoints are clearly unmaintained and unusable. Data quality issues everywhere. Speed is not great. Documentation is consistently inadequate and occasionally outright false. When I notified the provider of my intent to cancel while still having more than one month left on my prepaid subscription, provider instantly invalidated my auth key, while refusing to send a prorated refund.

Summary: Not pleasant. Could be better documentation and examples. Could not find much on the web about how to use the product. For me, it was not very difficult (been at this for decades), but would have caused a longer delay in putting it to use than i wanted.

And then, no refund after a few days playing with it!! Just gave me a hint of customer service to come. And i really wanted to use this stuff!!

Positive: Large selection of data and several languages to access the api. I am forced to use 100 characters in this "Pros" section, but there are not 100 characters' worth of Pros to list.

Negative: 1) Several languages to access the api, but not VBA
2) If you hit the monthly paid option, you will be billed for an entire year. Why call that a monthly option? Their legal mumbo jumbo explicitly states (Twice!) that there are no refunds under any circumstances. Piss poor way to do business, but caveat emptor!!

Summary: My experience with Financial Modeling Prep API has been less than satisfactory. I'd recommend potential users to exercise caution and consider other, more reliable options.

Positive: User friendly platform, several interesting endpoints. But unfortunately inaccurate API. Documentation could be better.

Negative: 1-Communication Issues: One of the primary concerns I have with FinancialModelingPrep is the noticeable lack of timely customer support. Multiple attempts to get in touch went unanswered, which was a major frustration.

2-Surprise Renewal: I was taken aback when my subscription was automatically renewed without any notification. Customers deserve to be informed of any impending charges to avoid unforeseen expenses.

3-Service Undelivered: Even after the auto-renewal, the expected services were not rendered. Moreover, the absence of an invoice for this transaction leaves me concerned about the company's administrative practices.

4-Support Concerns: The few interactions I had with the support team were concerning. Being asked for my PayPal ID due to their inability to locate it themselves is not only unprofessional but also raises questions about their data management.

Summary: Documentation is incomplete at best and bolsters statements such as 'We are the most accurate financial data API out there.' All in all I wouldn't say this is a weak product. I'd say this is an absolute scam that made me lose hours of good work building ad hoc code.

Positive: None but I have tons of factual cons to list. API is massively inaccurate. Documentation is very limited and customer service non-existent.

Negative: Completely inaccurate API. I intensively tested the results provided and numbers are more often random than anything else. as an example, this is the result for 3M FY 2022: 'operatingIncome': -198000000,
'operatingIncomeRatio': -0.0057845686, with "https://financialmodelingprep.com/api/v3/income-statement/"MMM?limit=1&apikey=mykey". My first reaction was to contact them but nobody seems alive at the other end of the line.