Table of Contents[Hide][Show]
Professional investors utilize the Bloomberg terminal, a computer software program, as a source of real-time financial data and information.
Customers can watch real-time financial market data and execute trades.
One of the first and most widely used financial terminals, the Bloomberg terminal is regarded by many as the industry standard.
Before personal computers and the internet were widely used, Bloomberg Terminal was first developed in 1981.
Since then, it has provided quick access to critical news, data, and trading tools as well as financial analytics, assisting traders and investors in putting knowledge into practice.
The Bloomberg Terminal is still at the forefront of innovation and technology more than four decades later. It is currently seen as a contemporary symbol of the financial markets.
It still has some issues, though. It is an extremely costly tool, costing up to $24,000 a year for each user.
Second, using it is not easy. Understanding the interface and data patterns requires considerable experience and business acumen.
There are a ton of reasonably priced solutions on the market for users who are just getting started and don’t want to spend the exorbitant price.
Consider the data’s quality and depth, if it offers real-time news and data, and usability while choosing an alternate terminal.
On the basis of cost, data quality, data presentation, usability, and user evaluations, we evaluated a variety of terminal choices.
You can use this information to decide whether a cheaper terminal option can accomplish your goals or whether you are prepared to shell out a lot of money for the Bloomberg terminal.
We’ve included a list of some of the top Bloomberg Terminal alternatives below that could be a perfect fit for your needs.
1. Koyfin
Koyfin was selected as the best free terminal as a trustworthy substitute for expensive terminals.
It’s a fantastic choice for people who aren’t ready or able to invest thousands of dollars since they have access to high-quality data, a user-friendly platform, and the latest financial news.
The Wall Street traders that established Koyfin, a platform for investing analytics, did so in 2016. In order to compete with the expensive professional platforms now available, a trustworthy alternative has to be developed.
With powerful graphing, dashboards that can be customized, access to in-depth financial research, and a macro dashboard for monitoring all markets, Koyfin provides its users with a user-friendly interface that is both clear and functional.
Most of its features can be altered to suit your requirements, from swing trading with your own money to giving wealth management advice.
Information can be plotted across many assets, and price charts can be customized to fit your own trading style.
Using the visualization tool, you can generate valuation metrics, see price targets and earnings predictions, and design graphs using hundreds of technical analysis indicators.
With just one mouse click, you can quickly and simply obtain comprehensive business overviews, financial statements, and value analyses.
Pros
- The platform on the cloud with no-cost analytical tools
- Covers country-level economic statistics
- Charts that combine technical and fundamental data
- Create charts using more than a hundred technical, fundamental, and value indicators.
Cons
- There is no mobile app.
- No intraday charts
- Fewer instruments for technical analysis
Pricing
You can start using the platform with its free plan and it also offers premium plans which start from $15/month/annually.
2. Stratosphere
Data analytics and AI consultancy company Stratosphere.ai specialize in giving organizations data-driven insights to enhance operations and decision-making processes.
In addition to other services, they provide data strategy, data engineering, machine learning, and AI implementation.
To provide insights and projections from various data sources, the platform makes use of cutting-edge technology including artificial intelligence and natural language processing.
The platform can handle enormous volumes of structured and unstructured data and provides data visualizations and reports to aid organizations in understanding their data.
Stratosphere was created by investors for investors in order to offer a superb web-based research terminal that delivers pertinent information and tools at the appropriate time.
Pros
- It provides a wealth of previous financial data.
- It provides segment data and KPIs unique to the firm.
- Its UI is intuitive and simple to use.
- The most modern user interface of any web-based terminal
- For investors, it is the finest source of fundamental information.
Cons
- No mobile application
- For active day traders, not helpful
Pricing
You can start using it for free with its free plan and the premium pricing starts from $35/month. Use code HashDork to get a 25% discount.
3. Factset
FactSet offers investment management solutions for investment bankers, asset owners, dealers, and financial advisers.
It is supported by improved analytics and adaptable technology to assist users in seeing and seizing opportunities quickly.
Our pick for the finest all-around terminal replacement, FactSet, provides its users with a wealth of data, decades of industry knowledge, and top-notch customer support.
With 37 offices across 20 countries and more than 162,000 financial professionals served, FactSet has been assisting its clients in the financial sector since the late 1970s.
Users of the FactSet platform can track portfolio risk and performance, keep up with market movements, and even place trades. Desktop, online, and mobile apps can all access it.
The platform includes all the tools you need to become a successful trader, including thorough coverage of equity, benchmarks for fixed-income securities, and workflow solutions for the whole portfolio lifecycle.
Additionally, it provides enterprise risk management tools that enable you to track and assess portfolio risk over a range of forecast timeframes, from long-term to immediate.
Risks can be readily broken out at a specific data point or by examining trends over time.
FactSet has more than 40 years of expertise in collecting and combining data from more than a thousand databases. Their customer service is excellent.
They have a fantastic group of technical professionals and subject matter experts who carefully walk you through your issues.
Pros
- It contains a wealth of organizational data.
- Forty years of expertise
- A successful risk analysis
- The customer retention rate of 90%
- It has strong support and client service
Cons
- Incline learning curve
- The terminals aren’t as user-friendly as some of the others.
Pricing
You can test the platform for free, but you must contact sales for pricing.
4. YCharts
YCharts is a strong, adaptable tool that aids in portfolio construction, security analysis, and communication of investment ideas.
You can also display hypothetical performance, keep an eye on important parameters, and verify your investment plans.
We selected YCharts as the best terminal for data visualization because it has a reputation for producing stunning, understandable, and captivating graphics. With the goal of democratizing investing research,
YCharts was established in 2009 as a web-based platform.
Through the provision of simple-to-use tools capable of producing eye-catching visualizations that make it easy to communicate insights and strategies, YCharts assists its clients in making better investment decisions.
YCharts makes it simple to create, evaluate, and contrast investment strategies with a variety of model portfolios. Using user-friendly visualizations, users can construct bespoke reports to compare portfolios of securities.
Additionally, YCharts offers an Excel add-on with a number of potent and adaptable templates that can be utilized to match any model you design.
YCharts allows the depiction of a broad range of metrics, from alpha to z-score and everything in between, unlike the majority of other charting tools.
To support your investing goals, look at price charts for a certain duration, overlay technical indicators on top of them, and compare stocks.
More than 40 technical indicators, including stochastic, RSI, MACD, and price-based moving averages, are included in the program.
Pros
- 20+ fund screens and 15 pre-built comparative tables
- Adjustable with company colors and a logo
- 30 years of financial data, 4,500 financial measures, and charts are provided.
- 40 + ready-made templates for ordinary stock
Cons
- Basic plans come with extremely few features.
- Beginner investors have a challenging learning curve.
Pricing
You can test the platform for 7 days for free. Please contact the vendor for its pricing.
5. AlphaSense
Access to hundreds of premium data sources, such as broker research, SEC filings, news, and trading journals, is made available through AlphaSense.
It is the one-stop shop for information and market research.
It is a market intelligence search engine that makes use of AI and machine learning algorithms to comprehend various company models.
In order to speed up market and investment research, it examines both private and public firms and delivers their data in an organized manner.
AlphaSense’s users can find pertinent information among millions of distinct documents using AI and NLP search technologies in a few seconds.
You can instantly communicate insights to your team from anywhere.
Among other essential data, the program provides you with access to trade periodicals, Wall Street equities research, corporate records, and call transcripts.
You can use sophisticated sentiment analysis on earnings transcripts to find signs that will move markets.
When examining performance reports, transcripts, headlines, and trade journals, Smart Synonyms technology collects linguistic variances and ensures that you never miss a thing.
Pros
- AI drives smart notifications
- It provides research annotation, clipping, and sharing
- It gives you access to premier business data sources.
- Streamlines the way you do research
Cons
- Searching for reports using keywords might be challenging since it returns too many random results.
Pricing
It offers a two-week free trial to test the platform, pricing is not listed on the platform, request it.
6. Refinitiv Eikon
When it comes to market share, Refinitiv Eikon is Bloomberg’s main rival. It has powerful technologies that produce reliable content and statistics.
Using its potent collaboration and communications features, you can interact with real connections in more than 30,000 enterprises across 180 countries.
Eikon stands out as the greatest terminal for financial data and analytics because it gives its users access to cross-asset calculators, portfolio analytics, and StarMine quantitative analytics and models.
Refinitiv Digest, one of its most popular products, gives you access to more than 10,000 relevant news sources, including Reuters content.
It uses artificial intelligence algorithms to deliver a customized news and information briefing from all the main international sources.
You can download Eikon’s user-friendly platform to your PC or mobile device.
You can plug in a number of application programming interfaces (APIs) and programs to its open platform, which is simple to configure and enables you to acquire exactly the information you need.
Other special tools, including MarketPsych and StarMine Analytics, can help you spot opportunities and make more accurate forecasts while Refinitiv Digest compiles historical and current information from thousands of sources.
With the Financial Chart app’s integrated search and other fundamental functions, you can rapidly turn a sizable amount of data into a tide of potential.
You can confidently identify competitive advantages and make portfolio decisions.
Pros
- It is constructed using open technologies.
- AI-curated news briefing
- estimates and measures portfolio risk
- access to current financial information
- Create individualized stock, hedge fund, forex, and other alerts.
Cons
- At first, the user interface might be a little intimidating.
- Data about delisted corporations is not always accessible.
Pricing
Please contact the vendor for its pricing.
7. S&P CapitalIQ
Standard & Poor’s created Capital IQ (S&P) market intelligence platform.
It offers research data and analytics on both public and private organizations to assist financial professionals in making wise judgments.
Investment managers, institutions, enterprises, banks, and consulting firms can use a variety of tools that Capital IQ provides (such as online sites and mobile apps).
These tools provide analysts with current insights, performance comparisons, and fund strategies. They encompass all complicated investment structures, including hedge funds and mutual funds.
Over 135 billion data points, including corporate profiles, financial information, CEO summaries, reports from independent analysts, and risk assessments are collected and analyzed by the platform.
You can access real-time market data, desktop research, backtesting, financial modeling, portfolio management, and quantitative analysis using web-based and Excel-based apps using its most well-known products (Xpressfeed, Compustat, and Money Market Directories).
You can assess the credit risk of millions of firms using a different tool called RiskGauge, which bases its assessment on the fundamentals, performance metrics, market signals, and macroeconomic data.
Its accessibility is arguably this platform’s finest feature. Capital IQ account can be accessed via a web browser on any device, as opposed to Bloomberg Terminal, which necessitates software installation on every system.
Pros
- It has 30 years plus of expertise
- a thorough and flexible screening tool
- It includes more than 2.5 million business leaders and financial experts.
- roughly 50 million public and private firms’ credit risk
Cons
- The software can be difficult to use on some internet browsers.
Pricing
Please contact the vendor for its pricing.
8. Santieo
Financial document search, data extraction, modeling, and research management are all included in the financial and business research platform Sentieo.
Financial analysts can implement successful strategies and make better judgments thanks to the integrated solution.
For instance, deep analysis and model construction are streamlined by the Sentieo Equity Data Terminal. Financial data, papers, and business responsibilities are all provided via the AI-driven Document Search.
Natural language processing is used by the NLP Smart Summary to identify changes in rival strategies swiftly.
It has the intelligence to discern between positive and negative attitudes among a group of competitors or industries.
All of these resources enable you to work more efficiently and move quickly and decisively to get an advantage over your rivals.
Additionally, the entire platform is mobile- and cloud-based, allowing you to utilize it on any device without installing any software.
Pros
- Targets are screened using this.
- It provides document search powered by AI.
- Plotter for the analysis and display of data
- Excel Plugin for Model Construction
Cons
- Some businesses’ financial information is not as reliable as their rivals’
Pricing
Please contact the vendor for its pricing.
9. PitchBook
PitchBook provides you with an in-depth understanding of the private capital markets, covering M&A deals, venture capital, and private equity.
PitchBook follows the whole lifespan of private enterprises throughout the world, gathering data from many sources at every step, from seed investment to secondary, in contrast to other systems that only concentrate on one area and only monitor a few metrics within each market.
You can find out every little nuance about the company and the investors that are involved, including the management team, the company’s financial history, profit and loss records, valuation information, cap tables, and more.
You can create your own notifications to get notified when a rival launches a new product or service, a new company opens up, or senior executives move positions.
You can easily extract useful insights from PitchBook’s datasets using the platform’s many features, including chart builders, benchmarking, pivot tables, and direct download choices.
Additionally, they have a top-notch analyst staff made up of past investors, business owners, consultants, and analysts that work on both the buy-side and sell-side of equities research.
They are all willing to discuss the intricacies of any study question and offer difficult-to-find information.
Pros
- Commentary and trend and current event analysis
- simple to use user interface
- extensive database of private businesses, venture funding, and merger and acquisition deals
Cons
- costly for tiny businesses
- Information can occasionally be a little dated.
Pricing
It offers a free trial to try out the platform; please contact the vendor for its pricing.
Conclusion
In conclusion, even if using the Bloomberg Terminal costs money, you may not always acquire the capabilities you need to make wise investment choices if you choose a less expensive option.
Your decision about a financial data solution isn’t always driven by price. Certain tools are more suited for a given task than others, and there is benefit in using more feature-rich, comprehensive ones.
Choose from our list of the top 8 Bloomberg Terminal alternatives based on your needs.
Leave a Reply