This weekend, IEX cut off access to its free financial data API. This affected the individual investors, developers, and others who had taken advantage of this free service to obtain financial data like stock prices for their websites, intranets, and analytics applications.
Why Did IEX Cut Off Access to Their API?
According to IEX, they had reached the end of their contracts with their outside data providers. Therefore to them, this was a natural time to cut off a segment of their business which wasn't providing them with any revenue.
Currently (and allegedly into the foreseeable future), IEX plans on allowing users to still utilize their free API to pull financial data on IEX listed equities. However, IEX only "owns" roughly 3% of US stock trading volume. So, if you're serious about financial data and need an API for the other 97% of US stock trading volume, then you'll want to consider a replacement.
IEX API Replacement
Intrinio provides good options for developers looking for an IEX API replacement, especially if they need stock prices. There are many reasons to work with Intrinio- Intrinio provides free data for startups and Intrinio supports its REST API and WebSocket API. This means that service won't suddenly be cut off and users can talk to Intrinio about where the data comes from, how to access it, and how data is defined.
The Intrinio Financial Data API Marketplace offers over 240 financial data feeds. Including real-time, crypto, and international data.
Intrinio's Fintech Marketplace provides many kinds of data via a single API, making it easy for users to get the data they need. Finally, Intrinio's mission is to make financial data affordable and accessible.
This means Intrinio has lower prices than traditional financial data providers and even offers a free sandbox environment with access to over 10 million data points so that users can test the data before subscribing. Additionally, Intrinio offers a variety of Intrinio owned SDKs, meaning they created and manage them, rather than crowdsourced SDKs like some other companies have.
Replacing a free data source is never easy, but Intrinio is here to help make it far less painful than other alternatives.