EODHD: A Powerful Alternative to IEX Cloud

Discover how EODHD serves as a robust alternative to IEX Cloud, offering extensive market coverage, reliable data, versatile integration options, and top-tier customer support for traders and developers.

7 min readAug 30, 2024

Introduction

IEX Cloud has long been a key player in the financial APIs market, trusted by traders, developers, and organizations alike for its reliable and robust services. However, the recent announcement of their decision to shut down all API services has left many in search of a new solution. This change, though unexpected, presents a valuable opportunity to explore alternatives that can meet or even exceed the capabilities of IEX Cloud.

One standout option is EODHD APIs, which emerges as a top contender due to its extensive features and user-friendly transition process. EODHD not only replicates the functionalities of IEX Cloud but also enhances them, offering a seamless experience for those needing to switch.

In this article, we’ll explore the advantages of EODHD APIs, detailing how easy it is to transition from IEX Cloud and how this shift can enhance your trading or development workflows.

1. Fundamental Data for Markets Worldwide

EODHD offers an extensive and high-quality database of fundamental data covering over 150,000 tickers, making it a versatile tool for various financial analysis needs. This includes comprehensive coverage of US exchanges like NYSE, NASDAQ, and ARCA, as well as non-US exchanges. Major US tickers (around 11,000 symbols) and large-cap non-US companies benefit from 30+ years of historical data, while smaller companies have access to 10 years (40 quaters) of data, with regular updates ensuring accuracy. This depth of historical data is crucial for analyzing trends and assessing performance across different market cycles.

Beyond stocks, EODHD also provides data for over 20,000 US mutual funds, including equity, balanced, and bond-based funds, allowing for a broad analysis of various investment strategies and asset classes. Additionally, the platform offers detailed data on more than 10,000 ETFs from global exchanges, aiding investors in examining exchange-traded products on an international scale. With such a rich and continually expanding dataset, users can access both historical and current financial data, which is essential for thorough fundamental analysis and gaining a competitive edge in the market.

2. Customer Support by Real People

EODHD APIs is well-known for providing 24/7 live customer support, staffed by real technical assistants who can make immediate data adjustments if necessary. Whether via webchat or email, responses are swift, ensuring users receive help when they need it most. This level of support has earned EODHD high praise on TrustPilot, particularly for their availability even on weekends.

Additionally, EODHD recently introduced a forum where users can engage directly with the company’s managers and developers. This platform allows users to suggest new features, data improvements, and other enhancements, fostering a collaborative community.

The commitment to around-the-clock support ensures that whether users face a critical trading issue or have routine questions, the EODHD team is always on hand to assist. This dedication to exceptional customer service reinforces EODHD as a reliable partner for traders and developers who require consistent, responsive support.

The professional level and fast customer support are especcially valuable for corporate clients.

3. Versatile Integration & No-code Solutions

EODHD’s versatility extends across a broad spectrum of programming environments, making it an ideal choice for developers. It supports integration with multiple languages, including Python, Java, PHP/Laravel, R, C#, F#, CURL, and WGET, allowing for seamless incorporation of EODHD’s financial data into a wide range of applications. This compatibility ensures that developers can efficiently retrieve and analyze data using the tools and languages they are most comfortable with.

For those who prefer no-code solutions, EODHD provides user-friendly tools designed for simplicity and efficiency. These include free add-ons for Excel and Google Sheets, offering direct access to End-of-Day, Historical, Intraday, Fundamental, and Live data without the need for complex formulas. These add-ons are equipped with features like a chart builder and a newly updated UI for Google Sheets, including a ticker search function.

Moreover, EODHD offers a WordPress plugin for integrating financial data feeds directly into websites, as well as apps for Windows and Linux that allow users to download End-of-Day data effortlessly. A Postman collection is also available for streamlined API testing, and integration with Power BI supports advanced data visualization. These tools make EODHD accessible and valuable for both developers and non-developers alike.

4. Performance & Reliability

EODHD stands out in delivering real-time data via WebSockets with an impressive latency of under 50 milliseconds, ensuring users have access to the most current information almost instantaneously. This rapid data delivery is vital for traders and analysts who need to make quick, informed decisions based on the latest market developments. Whether it’s monitoring stock prices, tracking market trends, or executing trades, EODHD’s ultra-low latency data feed provides a critical advantage in the fast-moving financial markets.

Moreover, EODHD APIs guarantees data accuracy and reliability by sourcing information from multiple providers. By cross-referencing and validating data across various sources, EODHD significantly reduces discrepancies, offering users the most accurate data possible. This meticulous validation process enhances the reliability of the data, instilling greater confidence in users’ analyses and decision-making.

5. Broad Market Coverage

EODHD delivers extensive coverage across global financial markets, catering to a vast array of trading instruments. This includes assets like stocks, ETFs, indices, bonds, mutual funds, options, forex pairs, and cryptocurrencies. By offering such a diverse selection, EODHD APIs ensures that users can access the financial data they require, no matter their trading preferences or strategies.

The API provides data from 70+ exchanges worldwide, covering over 20,000 ETFs, more than 600 indices, upwards of 150,000 tickers, and 1,100 forex pairs. This comprehensive dataset equips traders, developers, and analysts with the essential information needed to make informed decisions. The wide scope of data allows for detailed market analysis and the development of flexible trading strategies.

EODHD’s market coverage spans various regions, including North America (US and Canada), Europe (including the UK), Asia (including Australia), Africa, and Latin America. This global reach enables users to monitor and analyze market trends from different parts of the world, providing a well-rounded understanding of the global financial landscape.

6. Documentation and Learning Resources

Every API endpoint is thoroughly documented, with detailed explanations and examples available in the documentation section.

Additionally, EODHD is dedicated to supporting traders and financial enthusiasts by offering a broad range of educational resources. Central to this effort is the Academy, which features over 130 articles and video lessons created by subject matter experts and seasoned professionals. These materials explore various practical use cases, demonstrating how to effectively use EODHD’s APIs for algorithmic trading and financial analysis. The Academy serves as a vital knowledge hub, helping users refine their trading strategies and technical skills.

The EODHD team also publishes its own articles on its Medium channel, covering topics related to Python, Backtesting, Trading, AI, and more.

Conclusion

EODHD APIs emerges as a strong and reliable alternative to IEX Cloud, providing a wide array of features that cater to both developers and financial analysts. With fundamental data stretching back decades, EODHD offers invaluable resources for thorough financial analysis and informed decision-making. Their highly regarded 24/7 customer support, known for its responsiveness and effectiveness, ensures that users receive prompt assistance whenever required, enhancing the overall user experience.

The platform’s flexibility is evident through its compatibility with multiple programming environments and no-code solutions, making it accessible to both developers and non-developers alike. Whether integrating with Python or using the Excel Add-In, EODHD provides seamless access to its rich data resources. The reliability of EODHD’s real-time data feed, with latency under 50 milliseconds and cross-verified data from multiple sources, ensures that users receive accurate and timely information essential for successful trading.

Furthermore, EODHD’s extensive market coverage, which spans global stock markets, ETFs, indices, bonds, mutual funds, options, forex pairs, and cryptocurrencies, provides a comprehensive overview of the financial landscape. This, coupled with a wealth of educational resources available through the EODHD Academy and blog, equips users with the tools and knowledge to enhance their trading strategies and technical abilities.

For those in search of a reliable and feature-rich alternative to IEX Cloud, EODHD offers a compelling solution that combines depth, accuracy, and ease of use.

The original article was published in the EODHD Academy by Nikhil Adithyan.

Please note that this article is for informational purposes only and should not be taken as financial advice. We do not bear responsibility for any trading decisions made based on the content of this article. Readers are advised to conduct their own research or consult with a qualified financial professional before making any investment decisions.

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