Comparison

HQ FS vs Koinly

Koinly is the market leader for crypto tax filing. HQ FS is built around a different question — not "how do I file?" but "where are my books?". This page sets the two side by side on the dimensions a serious user evaluates.

Feature	HQ FS	Koinly	Edge
Accounting model	Full double-entry bookkeeping; chart of accounts; balance sheet	Tax-output calculator; no debit/credit posting model	HQ
IFRS compliance	IFRS-aligned cost basis and reporting by default	US GAAP focused; limited IFRS mode	HQ
Lot-level cost basis	FIFO / LIFO / HIFO / HMRC pool — locked at portfolio creation	FIFO / LIFO / HIFO — selected per report	TIE
Free tier	25 transactions / month (rolling)	25 transactions / year	HQ
Entry paid plan	$9 / month (Ledger module)	$49 / year (100 tx)	TIE
EVM chain coverage	32 EVM chains — direct ingest	50+ chains via partner indexers	Competitor
DeFi protocol coverage	Type-classified ingest of common DEX, lending, LP, staking events	17,000+ DeFi protocols catalogued	Competitor
CEX coverage	25 exchanges with API verification	800+ exchanges	Competitor
Modular pricing	5 add-on modules; pay only for what you use	Rigid annual tiers	HQ
Privacy stance	Privacy-first; no third-party tracking inside the product	GA4-dependent; full PII collection standard	HQ
Documentation platform	Integrated docs with agent API surface	Help-centre articles only	HQ
CEX journal model	Native CexJournal entity; manual + API-backed entries unified	No CEX journal model	HQ

Where Koinly wins

We are not pretending to be better at every dimension. These are the cases where Koinly is the right call.

Koinly catalogues more individual exchanges and DeFi protocols out of the box. If your priority is breadth of pre-built integrations and you do not need a chart of accounts, Koinly is faster to set up.
Koinly has a longer track record. If you have already filed multiple years through it, the migration cost matters — HQ FS supports CSV import from Koinly to ease the switch but the historical lots will need verification.

Visit Koinly →

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