At a price point of $30,000 per year, a Bloomberg terminal is prohibitively expensive for many investors but that doesn't mean you can't get the information you need. These great investment research tools will help you get an edge without breaking the bank.
Free and cost effective alternatives to a Bloomberg Terminal
Docoh/CapEdge - We love Docoh (now CapEdge). Docoh has financial data, SEC filing search, earnings transcripts, market news, stock alerts and charting. It’s all free and has a great user interface.
EDGAR - Company-reported financial and transactional data is reported to the SEC through the Electronic Data through the Electronic Data Gathering, Analysis, and Retrieval system (“EDGAR”). You can find full financials, XBRL metadata, insider transaction information, prospectuses and more. EDGAR also provides full-text search. EDGAR is free but not trivial to scrape. Refer to the Financial APIs section for programmatic resources.
TIKR - TIKR provides financial tools like a stock screener, financial statements analysis, stock valuation metrics, ratios, charts, news, and filings.
Koyfin - Koyfin is similar to TIKR in many ways. It provides market data, filings, news, charting etc.
OpenBB - OpenBB is a desktop application with built-in scripting tools (Jupyter notebooks). It allows you to import your own data so you can do forecasting and more.
FINVIZ - FINVIZ includes financial news, market heat maps, comparative charts, and sector performance tools.
TradingView - TradingView is a stock charting tool with other features including alerts, heat maps, and trading simulations. It also has a stock screener.
Tiingo - Tiingo offers free screening and portfolio monitoring. Tiingo is best known for their API.
Top paid financial intelligence software options
Bloomberg - The Bloomberg terminal provides financial and market data, news feeds, messaging, and trade execution services.
S&P Capital IQ - S&P Capital IQ provides more or less everything Bloomberg does without the execution services or messaging. CapIQ has more private company data and often better fundamentals data quality.
FactSet - FactSet consolidates data on global markets, public and private companies, and equity and fixed-income portfolios. FactSet has limited Canadian coverage.
Eikon - Refinitiv Eikon provides news and data services via an “open-technology” platform. Eikon has exclusive access to Reuters news.