Best Bloomberg Terminal Alternatives of 2024

When the Bloomberg terminal was introduced in the 1980s, it revolutionized the financial industry by democratizing access to financial market data. Their computer software system armed professionals with a source to monitor real-time financial information and analyze global markets when this information was scarce. It is still regarded as the pinnacle of standards in the industry. 

However, times have changed, and investors have more choices today. Some of Bloomberg’s drawbacks include: 

• High cost. For a standard license, the Bloomberg terminal costs upwards of $25,000 per year.
• Dated and complex. The Bloomberg terminal has an exceptionally steep learning curve for new users, and younger financial terminals have adopted more intuitive and modern user interfaces.
• Overwhelming. While Bloomberg’s offering is vast, it also contains a considerable amount of data that the average user does not need, or will ever use.

Today, there are a number of Bloomberg alternatives that offer unique, institutional-quality data, at a fraction of the cost. When choosing an alternative terminal, it’s important to consider the quality and variety of data you, the investor, require. It’s critical to understand if the tasks you need a terminal for, such as news aggregation, fundamental analysis, charting, and more, can be accomplished with an alternative platform. This article is designed to assist you in understanding the variety of choices in the market today. We have compiled a list of potential Bloomberg Terminal alternatives, highlighting each platform’s best value proposition.

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10 Best Bloomberg Terminal Alternatives of 2024

Koyfin

Best for: Best overall alternative

Koyfin is the Swiss army knife of financial research platforms and the best all-around alternative to Bloomberg, thanks to its incredible breadth and depth in institutional quality data, customizability, and modern user interface. Trusted by more than 500,000 investors, Koyfin delivers a comprehensive financial data terminal at a price that caters to both individuals and professionals and is perfect for advisors, fundamental investors, and asset managers. Koyfin’s flexible pricing and plans are highly rated for value, scoring 9.5 out of 10 in a Kitces Report, outperforming FactSet, YCharts, Morningstar, and Bloomberg.

New users receive a 7-day free trial of Koyfin Pro without needing to input a credit card.

Access Advanced Financial Tools: Sign Up Free

Features:

Koyfin offers all the key features that both individual investors and financial professionals look for in a high-quality financial data terminal.

Advanced Charting

Investors love to visualize. Koyfin’s advanced charting tools are renowned for their ability to simplify complex investment data, allowing investors to illustrate long-term fundamentals for companies, and paint macroeconomic viewpoints, all within a sleek, modern, interface.

Explore Koyfin Charting: Sign Up Free

Financial Analysis

When all is said and done, financials are the lingua franca of analysts. Koyfin puts the world’s financial data at your fingertips and allows you to get deep into the weeds, creating your own custom templates for financial analysis.

Discover Company Fundamentals: Sign Up Free

Custom Dashboards

What’s your style? Koyfin’s custom dashboards have got you covered. Blending Koyfin watchlists, charts, and news, custom dashboards can be shaped to fit your needs. Focusing on the right data has never been easier.

Build Custom Dashboards: Sign Up Free

Pricing & Plans:

Koyfin offers four pricing plans suitable for a variety of needs.

For a custom fit, explore the Enterprise Plan. It includes everything in Pro, plus custom onboarding, administrative purchasing options, single sign-on, and flexible, scalable pricing. Contact the sales team for inquiries.

See a full comparison of Koyfin’s plans and functionality

Summary:

On price alone, Koyfin’s platform offers investors unrivalled functionality and data. Suitable for individuals and professionals, the Koyfin terminal is flexible to an investor’s needs with an extensive catalogue of features to conduct a multitude of analyses.

• Price Advantage: Unrivalled functionality and data at a competitive price, making it a cost-effective alternative to Bloomberg.
• Flexibility and Accessibility: Web-based platform, complemented by a mobile app, offering on-the-go accessibility. Suitable for both individual and professional investors, catering to a wide range of needs.
• Responsive Support: Excellent support responsiveness, ensuring user queries are addressed promptly.
• Ideal for Fundamental Analysis: Particularly tailored for fundamental investors, with a comprehensive set of features for in-depth analysis. Continuous improvements to the platform to enhance user experience.

See the Koyfin and Bloomberg comparison for more insights.

FactSet

Best for: Quantitative Analysis

FactSet has long stood as one of the strongest value-for-money products in the professional market and has been in the business for more than 40 years. Praised for its exceptional customer service, exclusive datasets, and quantitative analysis tools, FactSet is a favorite amongst advisors, asset managers, bankers, and traders.

Features:

• Fundamental data
• Real-time pricing and news
• Earnings call transcripts
• Supply chain analysis
• ESG data
• KPIs and segment data
• Analyst Estimates
• Macroeconomic data
• Historic M&A data
• Customizable dashboards
• Alternate datasets
• Event-driven data
• Portfolio tools
• Trading order management
• Client reporting solutions

Pricing & Plans:

Factset costs $12,000 per year. Factset’s website suggests a free trial can be given after connecting with their team.

Summary:

FactSet has been in the business for four decades and boasts a retention rate of 90%; so they must be used to please customers. While $12,000 per year prices out most individual investors, FactSet is a relative bargain for professional investors who are looking for real-time, global data with a broad library of portfolio tools, customization, industry insights, unique and alternative data sets, and excellent analytical capabilities.

YCharts

Best for: Macroeconomic Data

YCharts is a comprehensive financial platform that offers users a wide variety of data and investment analysis tools. Its core features include intuitive visualization capabilities, tools for financial analysis and portfolio management, and an impressive depth of macroeconomic data. Given its price point, the platform largely caters to professional advisors, asset managers, and teams with a variety of plans available.

Features:

• Watchlists 
• Charting 
• Stock & fund screeners
• Broker integrations
• Portfolio tools
• Client proposal tools
• Alerts
• KPI and segment data
• Live news
• Custom securities
• Fundamental data
• Analyst estimates
• Excel-add in

Pricing & Plans:

YCharts offers four pricing plans but doesn’t publicly disclose prices. WallStreetZen, a third-party review site, claims the prices range from approximately $3,600 per year for the entry-level plan to $6,000 per year for the professional plan.

• Analyst: Ycharts’ lowest tier, priced at ~$3,600 per year offers screeners, tables, watchlists, news, basic charting with “most” of the YCharts data, and alerts. Additional features and data can be purchased for additional subscription fees such as dashboards, mutual fund data, indices data, SMAs, and an Excel add-in. 
• Presenter: The presenter tier includes everything in the analyst plan, and introduces customizations such as colors and logos, custodian integrations, disclosure reporting, and custom securities (view only). The plan also introduces additional data sets and a limited suite of portfolio tools. 
• Professional: The professional tier includes everything in the presenter plan, and provides users with the full suite of portfolio tools which includes report builder, attribution analysis, client proposals, charting, excel add-ins, customizable, and email reports. 
• Enterprise: The Enterprise tier is best suited for teams of advisors, asset managers, or home offices, and provides users with the full suite of YCharts offerings with the addition of firm-wide sharing and compliance controls. 
• Free trial: Users are granted a 7-day free trial of YCharts’ analyst plan

Summary:

While YCharts is not suitable for individual investors, it serves as a robust platform for professionals and teams, offering standout depth in macroeconomic data as well as a broad range of customizable research and portfolio management tools. The firm-wide sharing and report generation is another feature that will reduce the workload on advisors, asset managers, and investors who report to clients regularly.

Capital IQ by S&P

Best for: Data APIs

Capital IQ, part of S&P Global, offers a detailed and robust suite of tools for financial analysis and research. It is renowned for its extensive database that includes in-depth company profiles, financial statements, transaction data, and market analysis. The platform is particularly adept at facilitating detailed company valuation, peer analysis, and mergers and acquisitions research. Its advanced screening tools and customizable alerts make it a preferred choice for investment banking professionals, equity researchers, and asset managers who require precise, comprehensive financial and market information for strategic decision-making. Capital IQ also has a wide variety of API solutions for professionals and enterprises.

Features:

• API integration and solutions
• KPIs and segment data
• Fundamental data
• Historic M&A data 
• Stock screener
• Portfolio tools
• Custom dashboards
• Research from S&P
• Charting
• Modeling functions
• Analyst estimates
• Information on private company
• ESG and sustainability data
• Supply chain intelligence data
• Credit ratings 
• Real-time news and data

Pricing & Plans:

While S&P Global does not publicly disclose pricing, sources suggest Capital IQ costs upwards of $30,000 per year. A free trial is available, offering users access to North American data.

Summary:

Capital IQ is an excellent, multifaceted, research terminal. Its strength lies in offering a breadth and depth of data, functionality, and customizability. While there may be a learning curve for novice investors or new users, the platform is built for professionals who require comprehensive, global data that is just a few clicks away. While the cost of Capital IQ is not viable for individual investors, it is one of the industry-defining terminals alongside Bloomberg.

LSEG Data & Analytics

Best for: Customization

LSEG Data & Analytics, previously known as Refinitiv Eikon before its acquisition by the London Stock Exchange Group (LSEG), stands as Bloomberg’s closest competitor in terms of market share and functionality. This premium financial research terminal caters to professionals by delivering proprietary news and analysis, as well as offering a rich suite of financial analysis and collaborative tools with global data, excel integration, and APIs.

Features:

• Global dataset
• Reuters news & insights
• Advanced charting
• Proprietary news and research
• Fundamental data
• Analyst estimates
• Alerts
• Social media monitor
• Excel integration
• API integration
• Google Chrome extension
• Intelligent search
• Trading order management

Pricing & Plans:

While they do not disclose pricing publicly, Investopedia reports that Eikon’s terminal costs upwards of $22,000 per year, similar to Bloomberg. There is a heavily diluted version available for ~$4,000 per year, reports suggest.

Summary:

At the end of the day, there is a reason why both Bloomberg and LSEG Data & Analytics command more than 50% of the market share. These ultra-premium tools offer feature sets and customization that are hard to rival. They are the industry standard. That said, many of the options we present to you today are catering to the individuals and professionals who lack the budget or don’t require the full extent of platforms like LSEG and Bloomberg.

Finchat

Best for: AI-Assisted Research

Finchat is the birth child of two previously separate sister platforms: Finchat and Stratosphere. The company has successfully integrated the AI capabilities of Finchat with the financial data and analytical strengths of Stratosphere. The result is a unique financial research platform that is both powered and assisted by the use of artificial intelligence. Finchat is particularly suited to individual investors with affordable pricing and AI assistance but also caters to professionals through a rich spectrum of fundamental data and tools.

Features:

• Generative AI search 
• KPI and segment data
• Filings
• Analyst estimates
• Fundamental data
• Earnings calendar 
• Charting
• Ownership data
• Financial modeling 
• Global stock screener

Pricing & Plans:

Finchat offers three pricing plans: 

• Free: Finchat’s free plan offers users 25 prompts of FinchatAI per month, global stock coverage, 5 years of financial data, 2 years of KPI and segment data, and one dashboard. 
• Plus: Priced at $29 per month, the Plus plan includes 100 prompts per month, 10 years of financial data, 5 years of KPI and segment data, unlimited dashboards, and the inclusion of 30 years of transcripts & filings, as well as analyst estimate data. 
• Pro: Price at $79 per month, the Pro plan contains everything in the Plus plan, in addition to 10 years of KPI and segment data, custom chart colors and logos, and the ability to upload documents and data to FinchatAI. 
• Free trial: Finchat does not offer a free trial of the paid plans, but the limited free offering is more than enough to get a taste of what the platform offers. 

Summary:

The standout features of Finchat are the AI capabilities and the KPI data they supply to users, which is typically sold only in professionally priced platforms. The plans are affordable, the user interface is smooth and intuitive, and the platform has some aspects of customizability. While Finchat does not currently provide news, macroeconomic data, or information on alternate asset classes, it offers a rich resource for fundamental investors focusing on stocks. The platform is particularly catered to individuals who may require assistance from generative AI, but the data and tools are useful for professionals too.

TIKR

Best for: Individual Investors on a Budget

TIKR is a financial data platform that offers individual investors the essential suite of tools for stock analysis, monitoring watchlists, and following top investors. Data coverage spans more than 100,000 global stocks across 92 countries and 136 exchanges. The platform caters to individual investors and enthusiasts, at an affordable price.

Features:

• Watchlists
• Investing guru tracker
• Global stock screener
• Transcripts & filings
• Ownership data
• Analyst estimates
• Company news
• Fundamental data

Pricing & Plans:

TIKR offers three pricing plans:

• Free: The free plan offers investors limited data for US companies, one screener, unlimited watchlists, 2 years of financial estimates, 5 years of financial history, and 90 days of US transcript history. 
• Plus: Priced at $19.95 per month, TIKR’s Plus plan broadens the data to global companies, increases the number of screeners to 5, introduces fund holdings data, has 10 years of financials history, 5 years of estimates, and three years of transcript history. 
• Pro: Priced at $39.95 per month, TIKR’s Pro plan has all of the Plus features in addition to unlimited screens, introduces 20 years of financial charting, 5 years of estimates, and unlocks the full transcript history, detailed estimates data, additional valuation metrics, and has priority support. 
• Free Trial: Users are granted 14-day free trials on TIKR’s Plus plan.

Summary:

TIKR currently lacks the level of customization and access to non-equity data that more advanced financial platform offer, and is more so focussed on stocks. Because of this, TIKR is not the ideal platform for a professional. However, for individual investors, TIKR provides a robust array of data for individual stock analysis at an affordable price point. Everything a solo investor needs, without breaking the bank. Something unique about TIKR is that they offer investors what they term “secondary data”; which is not licensed from S&P. While TIKR has communicated to users that secondary data is not of the same quality as their TIKR data licensed from S&P, it does allow a user to stretch the fundamental data decades further than they can with TIKR data.

TradingView

Best for: Active Traders

TradingView is a popular platform that specializes in charting and technical analysis tools across a variety of asset classes and data sets like stocks, funds, futures, forex, crypto, bonds, and macro. It offers extensive charting capabilities with a vast library of indicators and drawing tools, real-time data, and a community-driven platform where users can share insights and strategies. The platform is best suited to active traders.

Features:

• Advanced charting and technical analysis tools
• Multiple asset class coverage 
• Macroeconomic data
• Alerts
• Stock screener
• Fundamental data
• Analyst estimates 
• Strategy simulation engine
• Pine Script editor
• Watchlists
• Heatmaps
• Economic calendar
• Community platform

Pricing & Plans:

TradingView offers seven pricing plans and differentiates them by non-professional and professional: 

• Free: The free plan, which serves customers’ ads, offers users the ability to save one chart layout, compare symbols, 7 years of historical data on charts, limited technical analysis functions, 5 price alerts, one technical alert, and limited screening. The free plan excludes the ability to engage in TradingView’s community. 
• Paid non-professional: The essential ($12.95 per month), plus ($24.95 per month), and premium ($49.95) plans are targeted to individuals and contain no ads. Progression through the tiers of paid non-professional plans will unlock additional chart layouts, indicators, historical bars, price alerts, technical alerts, export functions, custom formulas, and other data, indicators, and functions. 
• Paid professional: The expert ($199.95 per month), elite ($349.95 per month), and ultimate ($499.95 per month) plans are targeted to professionals and contain everything in the lower tiers with a similar scaling effect of features and functionality through the tiers. The professional plans all offer users the added benefit of first-priority customer support, financial data export, and the ability to purchase professional market data.
• Free trial: Users can try any plan for 30 days.

Summary:

TradingView is a versatile charting platform, particularly popular among active traders. It offers access to real-time data and houses an active trader community. While it possesses a deep library of asset class coverage and macro data, like a Bloomberg terminal, the UX/UI is centered around charting tools and is better suited to individual and professional traders. While Tradingview’s core strengths lie in its charting, the platform is also customizable, allows users to backtest trading strategies, and offers users pine script which enables them to write their own indicators with minimal code.

AlphaSense

Best for: Expert Network Calls

AlphaSense is a high-quality market intelligence and search platform that provides investors with an array of expert network transcripts, regular earnings transcripts, company filings, press releases, news, and presentations. Users can quickly filter through the library of content on AlphaSense to unlock insights and save time.

Features:

• Company filings
• Expert network calls
• Company press releases and presentations
• Market and company news
• Wall Street broker reports
• Sentiment analysis
• Smart summaries
• Expert insights
• Advanced search 
• AI assistance

Pricing & Plans:

AlphaSense doesn’t publicly disclose pricing, but investors can expect to pay several thousands of dollars per year depending on the plan.

Summary:

AlphaSense is one of the best at what they do; providing investors with a deep library of documents and expert network calls, wrapped up in an intuitive search engine with some excellent AI and automation tools. However, the platform lacks the fundamental analysis tools that investors need to analyze individual stocks, such as the absence of a screener, financials, charting capabilities, and portfolio tools. AlphaSense is therefore a fantastic tool for research aggregation, but not a complete replacement for a Bloomberg Terminal. AlphaSense is best suited for enterprise professionals, as they do not sell to individual investors.

Morningstar

Best for: Portfolio Insights

Morningstar is known for its investment ratings and in-depth analysis of company moats. The platform provides comprehensive equity research, portfolio management tools, and independent ratings that assess a company’s long-term investment potential and competitive advantage. Morningstar offers two products; Morningstar Direct (built for professionals) and Morningstar Investor (built for individual investors).

Features:

• Portfolio tools
• Screener
• Unique Morningstar ratings
• Risk analysis tools
• Custom scorecards
• Sustainability-focused ratings
• X-ray analysis for stocks and funds
• Client report generation tools

Pricing & Plans:

The pricing of Morningstar Direct and Morningstar Investor vary widely:

• Morningstar Investor: Priced at $34.95 per month, Morningstar Investor offers users analysis and ratings from the Morningstar team, screening tools, and portfolio tools.
  • Free trial: Morningstar offers users a 7-day free trial.
• Morningstar Direct: Pricing for Morningstar Direct costs upwards of $15,000 per year for an individual, but requires direct contact with the Morningstar team, as they don’t publicly disclose prices. The vast majority of Morningstar’s advanced features are reserved for Direct subscription, including client proposal tools, custom scorecards, richer Morningstar ratings, broader portfolio tools, and risk analytics.
  • Free trial: There is no free trial for Morningstar Direct.

Summary:

Morningstar is known for its analysis and ratings. However, most of the value of Morningstar Investor is based on those ratings. For individual investors, the choice of alternative financial research terminals is far superior to Morningstar Investor’s current offerings. Morningstar Direct has a significantly more advanced set of features and portfolio tools. However, the price of Morningstar Investor is not suitable for individual investors but may be useful for professionals looking for comprehensive portfolio management software.

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Our insights are derived solely from historical information and analyst predictions, employing an impartial approach. Please note that our articles do not serve as financial guidance.