Best Stock Market APIs you should be aware of
A comprehensive list of the best available APIs
Introduction
The introduction of stock APIs has made quite a difference in the trading realm. It has transformed the way how traders analyze a stock and people who don’t use APIs for their research process and trading activities are considered to lose the edge in the market.
Yet, amidst the rise of stock APIs, a notable problem persists. Navigating the overwhelming world of stock APIs and finding the right one can be quite exhaustive. This was not the case a few years ago when there were only a handful of stock API providers. But after discovering this lucrative market, many companies jumped into it and came up with their suite of stock APIs making it difficult for users to choose the perfect reliable API provider which suits their needs.
As a solution to this problem of picking the right stock API provider, I’m going to feature a curated list of the best stock APIs that are currently available in the market. The ranking of the APIs is based on three important factors: ease of use, documentation, and the number of features provided. Furthermore, I’ve personally vetted each API featured in the list.
Best Stock APIs:
After careful consideration, these are some of the best stock APIs that are currently in the market:
- Alpha Vantage
- EODHD
- Bloomberg API
- QuoteMedia
- Exegy
- Tradier
Now let’s dive deep into each one of the stock APIs.
1. Alpha Vantage
The first API provider in our list is Alpha Vantage. It tops the list for a variety of reasons.
Let’s start off with the API library of Alpha Vantage. It boasts a huge number of API endpoints covering almost all the requirements of the users. The platform’s comprehensive data coverage includes API endpoints for historical data, fundamental data, technical indicators, crypto, commodities, and you name it.
Besides this, the distinguishing feature of Alpha Vantage’s API library is its emphasis on alternative data. It has dedicated two separate sections for alternative data which are: Alpha Intelligence and Economic Indicators. Alpha Intelligence comprises endpoints for unconventional data like news and stock sentiments while Economic Indicators lays focus on essential economic data and indicators.
Apart from a glorious API library, Alpha Vantage has really nailed the documentation page. Nothing fancy but dives straight to the point which is truly awesome and time-saving. The categorization done by the platform for their APIs boosts user experience as it makes it easy to find the APIs we’re looking for. In addition to the categorization, Alpha Vantage follows an interesting labeling system in their documentation that highlights the most-used and trending API endpoints. These intricacies really make the platform’s documentation a special one.
Speaking of ease of use, the response given by the API endpoints is one of the cleanest I’ve ever worked with. It’s super clean and well-formatted which prevents users from worrying about data manipulation and preprocessing. The users can also customize the type of response given by the endpoint according to their needs.
To further enhance user experience and encourage beginners to use their platform, Alpha Vantage has introduced no-code solutions such as Google Sheets and Excel add-ons for obtaining data with very minimal effort.
For people who worry about data reliability which is a common issue with a lot of stock APIs, Alpha Vantage’s got your back. In fact, Alpha Vantage is one of the few API providers that is an official data vendor of Nasdaq. If that doesn't validate the data accuracy of the platform’s APIs, nothing does.
Alpha Vantage’s core objective is to make stock APIs accessible to everyone. As a way to achieve this, the platform has introduced a Free Plan which is one of the best there is. It allows users to access almost every available endpoint with a rate limit of 25 requests per day. This is more than what a researcher or beginner could ask for. Developers and advanced users can opt for premium memberships whose subscription cost is relatively less.
To conclude, Alpha Vantage is one of the best platforms out there with great ease of use, an amazing free plan, competitive premium membership pricing, a huge API library, and most importantly, free of data reliability issues. This makes Alpha Vantage one of the most recommended places to start for beginners as well as for developers who aim to build commercial applications.
2. EOD Historical Data
The second API provider in our list is EOD Historical Data, shortly known as EODHD.
First is the number of API endpoints being provided. Ranging from the basic ones like the historical data APIs all the way to the stock screener and economic calendar APIs come in handy for both professional and educational works. They also support assets other than stocks such as commodities, cryptocurrency, and indices to name a few. Their newest release, stock tick data API allows for conducting effective backtesting processes.
Secondly, EOD Historical Data maintains well-structured documentation of their APIs in a systematic order to reduce confusion among the users. Each and every API provided by them has an individually dedicated page explaining the API’s use cases along with practical and real-world examples.
Thirdly, ease of use. The response we get from calling EODHD’s APIs is very clean and well-formatted. It helps shorten the process of data cleaning and data manipulation where most beginners get stuck.
Overall, EOD Historical Data is a great platform for both beginners who are just starting out and advanced users for research works and building commercial applications.
3. Bloomberg API
The next API provider in our list is none other than Bloomberg API.
Bloomberg API needs no introduction. It’s one of the biggest players in the stock API market offering a humongous amount of API endpoints. Having this API library with an insane amount of APIs can be considered one of the greatest advantages of the platform.
Bloomberg API’s suite of endpoints is undoubtedly the most comprehensive one available in the market. Ranging from historical data endpoints all the way to commodity exchange-related endpoints. They went too far that the API library even has endpoints that show the routes of how specific commodities are delivered.
One serious issue with Bloomberg API is the complexity of their platform. Almost everything is complex with Bloomberg API. From the documentation to using their APIs, users might have a very hard time navigating the complex nature of the platform.
Another problem with Bloomberg API is its hefty subscription cost which is around thousands of dollars a month and can be afforded only by a handful of people.
Is Bloomberg API a good platform? Of course, it is. In fact, it’s one of the best there is. Is it suitable for all? Not really. It’s very much recommended for beginners to refrain from using Bloomberg API given its very complex nature and crazy subscription cost. But the platform can be a treasure trove for people who don't care about the subscription costs but their only focus is the range of API endpoints provided.
4. QuoteMedia
QuoteMedia is one of the few companies in the API market that went public. The platform’s offering is not limited to only API services but includes interactive widgets for websites, workstations for investment professionals, and much more.
The API library of QuoteMedia is very solid. It contains the essential endpoints like historical data and fundamental data along with alternative data like news, analysts’ predictions and research data, etc. Though it’s not very comprehensive, the API library does a pretty good job of meeting the users’ expectations.
There are two places where QuoteMedia falls behind. Firstly, the landing page of the platform most certainly demands some renovation work. In this fast-paced world, it takes just minutes for someone to judge anything. And when it comes to stock APIs, users judge the platform just by taking a glance at its landing page. A compelling landing page drives users to explore the platform and experiment with it. QuoteMedia’s landing page is way too simple and basic, and it has to elevate the page to compete with other API providers.
Secondly, the documentation is missing. I’m not exaggerating but the documentation pages for the endpoints don't exist within their website. Maybe, it’s provided once you subscribe to any of their products but it’s just a bad user experience. A well-structured documentation is a vital component and not having one is like missing a big piece in the puzzle.
In summary, QuoteMedia’s whole platform is designed in a way that is much more suitable for an organization than individuals. For starters, just like Bloomberg API, QuoteMedia is not the recommended platform for you. But if you’re a company looking for a reliable API provider, QuoteMedia can be a great option for you.
5. Exegy
The next on our list is Exegy. Like Tradier, Exegy’s suite of APIs not only comprises market data endpoints but also a plethora of APIs for trading activities.
Though the API library of Exegy is a bit overwhelming with some complicated endpoints, each section of the library is well-tailored to match the needs of the users. From analysis to trade execution, users can find APIs for every step in the trading process. This gives Exegy a great competitive edge since it’s one of the few platforms that doesn't operate only in the stock data APIs market.
Speaking of usability, Exegy’s APIs fall on the complex side as they require some learning curve and beginners might have a tough time using them.
Regarding the documentation, like QuoteMedia, I was not able to find it. I only managed to get something called the Product Sheet for each of the API categories which only contains some basic info about the APIs but not any practical examples of using them.
To conclude, Exegy is very much similar to QuoteMedia. It’s designed to match the expectations of companies who look for specific data solutions. But is this a good place for beginners to start? Regarding the data provided by the platform, there is no question about its quality and variety, but, beginners are likely to have a very hard time using this platform.
6. Tradier
Last but not least, the sixth API provider in our platform is Tradier.
Tradier is a trading platform that emerged as an important player in the stock API market after the introduction of an interesting collection of API endpoints.
Their API library is quite diverse and it’s divided by Tradier into four sections: Trading, Advisors, Market Data, and Streaming. Each section is dedicated to a specific use case which allows users to better choose the API endpoints suited to their needs.
Tradier has a great documentation page for their APIs with essential explanations and code samples. Though there are no practical examples for any of the endpoints, it surely does cater to the user’s expectations. Also, the categorization done by Tradier in their documentation pages is very appreciable.
The APIs are extremely easy to use with a great experience. I spent no time formatting the output given by the endpoints since it was already pretty clean and well-structured.
Speaking of drawbacks, there are some important ones to be considered. Firstly, though they have a wide array of API endpoints, the number of APIs for market data is very limited and bounded only to the basic ones like historical data and fundamental data. Secondly, access to the APIs is granted only to those who hold a brokerage account with Tradier. This makes the APIs fairly inaccessible to the general public. Even if you just want to use the APIs instead of trading on the platform, you still have to undergo the tedious process of opening a brokerage account.
In summary, Tradier is a great place for finding some amazing APIs. If you’re someone who is in requirement of a suite of trading APIs without giving much priority to market data APIs, then Tradier is the go-to for you. But if you’re a researcher who needs a great range of market data along with alternative data, Tradier might not be the most recommended platform for you.
Conclusion
Choosing the most appropriate API provider can prove to be a daunting task given the number of options available in the market today. Thus, it’s imperative to clearly define your needs and requirements as it can greatly aid in narrowing down the choices.
It’s also crucial to be aware of the importance of choosing the right API provider. Choosing a provider whose data has a great margin of error or has API endpoints not suited to your needs can result in detrimental consequences. Therefore, make sure to do your research before opting for any specific platform.
Apart from the highlighted stock APIs in this article, I would recommend exploring further APIs which can potentially lead to discovering the most optimal solution tailored to your requirements.
With that being said, you’ve reached the end of the article. Hope you learned something new and useful from this article. Also, if you know other financial APIs better than the ones listed in this article, don’t forget to mention those in the comments section. Thank you very much for your time.
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