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  • Nikhil Adithyan

FinancialModelingPrep: A Robust Alternative to IEX Cloud

Explore an exciting solution to the shutdown of IEX Cloud


In the ever-evolving landscape of financial data providers, the recent shutdown of IEX Cloud’s API services has left many developers and financial analysts searching for a reliable alternative. 

Enter Financial Modeling Prep (FMP), a comprehensive and robust solution that not only provides a robust alternative to IEX Cloud but also offers a wealth of additional features and data points. FMP stands out as a superior choice for those seeking high-quality financial data APIs, providing an extensive array of services that cater to the diverse needs of financial professionals, researchers, and analysts.

Extensive Historical Data Coverage

One of FMP’s strongest suits is its extensive historical data coverage, boasting over 30 years of financial information. This long-term perspective is crucial for identifying trends, backtesting strategies, and conducting thorough financial analyses. 

Complementing this historical depth is FMP’s unique offering of earnings call transcript data dating back to 2007. This treasure trove of information allows investors to dive deep into company communications, gaining insights that go beyond mere numbers. 

The ability to analyze management’s language and tone over time can be a game-changer for fundamental analysis, offering a level of insight that raw financial data alone cannot provide.

Insight into Institutional Holders and Insider Trades

FMP doesn’t limit itself to historical data and transcripts; it also offers valuable information on institutional holders and insider trades, providing a window into the strategies of major market participants. This data can be instrumental in making informed investment decisions, as understanding the moves of big players in the market is crucial for many investors. 

Furthermore, FMP expands its coverage beyond stocks, offering data on a wide range of asset classes, including commodities. This diversity allows users to gain a holistic view of the financial markets and explore correlations between different asset types, enhancing their ability to make well-rounded investment decisions.

Real-Time Data with Websocket Connections

In today’s fast-paced markets, real-time data is more important than ever, and FMP delivers on this front with websocket connections for streaming live quote data across stocks, cryptocurrencies, and forex. This feature ensures that users always have access to the most up-to-date information for their trading and analysis needs. 

But FMP goes beyond just providing raw data; it offers advanced financial analysis tools, including a financial statements analysis endpoint that calculates key financial metrics and ratios. This feature saves users time and provides valuable insights at a glance, streamlining workflows for both fundamental analysts and quant researchers.

Aggregation of Market Sentiment and Analyst Estimates

FMP’s commitment to comprehensive market coverage is further demonstrated by its aggregation of price targets and analyst estimates from over 50 news sources. This consolidation of market sentiment provides a well-rounded view of expert opinions, helping users make more informed decisions based on a consensus of professional analysts. 

For those interested in exchange-traded funds (ETFs), FMP offers detailed data on ETF holdings, allowing investors to look under the hood of these popular investment vehicles and understand their composition and potential risks or opportunities.

Reliability and Competitive Pricing

Reliability has become a top concern for API users in the wake of IEX Cloud’s shutdown, and FMP has demonstrated its commitment to providing consistent, reliable service. 

With a track record of stability and responsive customer support, users can trust FMP to be there when they need it most. While pricing details may vary, FMP is known for offering competitive rates for its comprehensive data services, making it an attractive option for businesses and individuals of all sizes, from startups to established financial institutions.

Conclusion: FMP as a Standout IEX Cloud Alternative

As the financial data landscape continues to evolve, Financial Modeling Prep emerges as a standout alternative to IEX Cloud. The breadth and depth of FMP’s offerings, combined with its reliability and competitive pricing, make it not just a replacement for IEX Cloud, but a significant upgrade for many users. 

With its comprehensive historical data, unique features like earnings call transcripts and institutional trading information, real-time streaming capabilities, and advanced analytical tools, FMP offers a robust and versatile solution that is well-positioned to become the go-to provider for those seeking a comprehensive, reliable, and feature-rich financial data API service.



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