Introduction

IEX Cloud is a very prominent player in the financial APIs market. Lots of traders, developers, and organizations rely upon their offerings for various purposes. Its robust and reliable services have made it a go-to choice for many. It obviously came as a shock to many when they announced that they would be shutting down all of their API services but it also gave us an opportunity to look beyond IEX Cloud and explore all the viable alternatives to it.

Among the top contenders is EODHD, which stands out for a multitude of reasons. EODHD not only offers a comprehensive suite of features but also provides a seamless transition for those looking to move away from IEX Cloud. 

Let’s dive into the benefits of EODHD and see how easy it is to switch from IEX Cloud to this powerful alternative. We’ll also cover why making the switch can improve your trading or development workflows.

1. Fundamental Data for Markets Worldwide

EODHD offers a high-quality, extensive database of fundamental data for over 150,000 tickers, catering to a wide range of financial analysis needs. For stocks EODHD covers US (including NYSE, NASDAQ, and ARCA) and non-US exchanges. Major US market tickers (11 000 symbols) and large-cap non-US companies have 30+ years of data, while minor companies have 10 years (40 quarters) of data with ongoing updates. Such a depth of historical data allows for in-depth trend analysis and performance evaluation across different market cycles.

Additionally, EODHD supports over 20,000 US mutual funds, encompassing equity funds as well as balanced and bond-based funds. This diversity in fund data enables comprehensive analysis across different investment strategies and asset classes.

The platform also provides detailed information on more than 10,000 ETFs from various exchanges and countries, supporting investors who seek to analyze exchange-traded products on a global scale. This extensive and continually growing dataset ensures that users have access to a rich repository of historical and up-to-date financial data. This level of detail and historical depth is invaluable for conducting thorough fundamental analysis and maintaining an edge in the market.

More on EODHD Fundamental data 

2. Customer Support by Real People

EODHD is renowned for its 24/7 live customer support with technical assistants who can make necessary adjustments to data right in front of a user, if needed. Via webchat or email, the response is instant. Highly praised on TrustPilot, their support team stands out for its efficiency and availability, even on weekends. 

This year, EODHD launched a forum where users can interact directly with EODHD managers and developers, suggesting new features, data, and improvements.

This around-the-clock support means that whether it’s a critical trading moment or a routine query, EODHD team is always ready to help. Their commitment to exceptional customer service underscores their dedication to user satisfaction and reliability, making them a trusted choice for traders and developers who need dependable and responsive support at all times.

3. Versatile Integration & No-code Solutions

EODHD supports a wide range of programming environments, making it a highly versatile option for developers. Users can integrate with Python, Java, PHP/Laravel, R, C#, F#, CURL, and WGET, ensuring compatibility with a variety of tech stacks. This flexibility allows developers to seamlessly incorporate EODHD’s financial data into their applications, facilitating efficient data retrieval and analysis through their preferred coding languages.

For users who prefer no-coding solutions, EODHD offers several easy-to-use tools. These include free add-ons for Excel and Google Sheets with direct access to End-of-day, Historical, Intraday, Fundamental, Live data. Add-ons are formula-free, include a chart builder, and are incredibly easy to use. The Google Sheets add-on recently got an update with a new UI, ticker search feature, and more.

A WordPress plugin can integrate financial data feeds right into WordPress websites. There are also apps for Windows and Linux to download End-of-day data. Additionally, a Postman collection is available for simplified API testing, and integration with Power BI enables advanced data visualization. 

4. Performance & Reliability

EODHD excels in providing real-time data through WebSockets with an impressive latency of less than 50 milliseconds. This ultra-low latency ensures that users receive the most up-to-date information almost instantaneously, which is crucial for making timely and informed trading decisions. Whether you are monitoring stock prices, tracking market movements, or executing trades, the speed and efficiency of EODHD’s real-time data feed can give you a significant edge in the fast-paced financial markets.

To ensure the highest level of data accuracy and reliability, EODHD employs multiple data providers. By cross-referencing and validating data from various sources, EODHD minimizes discrepancies and delivers the most accurate information possible. This robust approach to data validation not only enhances the trustworthiness of the data but also provides users with confidence in their analysis and decision-making processes.

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5. Extensive Market Coverage

EODHD provides extensive coverage of global financial markets, accommodating a wide array of trading instruments. This includes stocks, ETFs, indices, bonds, mutual funds, options, forex pairs, and cryptocurrencies. By supporting a diverse range of assets, EODHD ensures that users have access to the financial data they need, regardless of their trading preferences or strategies.

The API encompasses data from nearly 70 exchanges worldwide, featuring over 20,000 ETFs, more than 600 indices, upwards of 150,000 tickers, and 1,100 forex pairs. This extensive dataset provides traders, developers, and analysts with a wealth of information to make well-informed decisions. The breadth of data available allows for thorough market analysis and the construction of versatile trading strategies.

EODHD’s market coverage spans multiple regions, including North America (US and Canada), Europe (including the UK), Asia (including Australia), Africa, and Latin America. This global reach ensures that users can track and analyze market trends from various parts of the world, enabling a more comprehensive understanding of the global financial landscape.

6. Documentation and Educational Materials

All API endpoints are well-documented, with detailed descriptions and examples in the documentation section.

Plus to it EODHD is committed to supporting traders and financial enthusiasts through an extensive range of educational resources. At the heart of this effort is the Academy, which features over 130 articles & video lessons made by subject experts and experienced professionals. These materials delve into various practical use cases, illustrating how to effectively utilize EODHD’s APIs for algorithmic trading and financial analysis. The Academy serves as a valuable repository of knowledge, helping users to enhance their trading strategies and technical skills.

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

Conclusion

EODHD stands out as an effective and robust alternative to IEX Cloud, offering an extensive range of features that cater to both developers and financial analysts. With fundamental data that spans decades, EODHD provides invaluable resources for deep financial analysis and informed decision-making. Their renowned 24/7 customer support, praised for its efficiency and availability, ensures that users receive timely assistance whenever needed, enhancing the overall user experience.

The platform’s versatility is evident through its support for multiple programming environments and no-code solutions, making it accessible to both developers and non-developers alike. Whether you’re integrating with Python or utilizing the Excel Add-In, EODHD facilitates seamless access to its rich data repository. The performance and reliability of EODHD’s real-time data feed, with latency of less than 50 milliseconds and cross-verified data from multiple providers, ensures that users receive accurate and timely information crucial for successful trading.

Moreover, EODHD’s extensive market coverage across global stock markets, ETFs, indices, bonds, mutual funds, options, forex pairs, and cryptocurrencies offers a comprehensive view of the financial landscape. This, coupled with a plethora of educational resources through the EODHD Academy and blog, equips users with the knowledge and tools to optimize their trading strategies and technical skills. 

For those seeking a dependable and feature-rich alternative to IEX Cloud, EODHD presents a compelling option that combines depth, reliability, and ease of use.