IEX Cloud Shutdown and Why Finage is Your Best Alternative

 

In May 2024, IEX Cloud announced that they were closing their company and would be retiring on August 31, 2024. Because of this, the IEX customers are now looking for a reliable alternative to maintain their operations. Many of them are stuck in the position of looking into different companies and checking reviews on Reddit and elsewhere as they often rely on independent research over a direct referral provided by the company due to pricing plan concerns and so on.

 

We suggest you cross-validate the Finage's data solutions. Our dedicated support team has put together an overview of our services and pricing to help you make an informed choice. We recognize the challenges you're facing and are here to ensure a smooth transition. Keep reading to see what we’ve prepared for you!

Contents:

- Why is Finage the perfect fit?

- Operations with Finage

- Comparing IEX Cloud and Finage

- API integration

- Product offerings

- Support and assistance

- Pricing structure

- Quick overview of the Finage subscriptions

- Data offerings

- Now let’s see the main steps on how to move to Finage

- Final thoughts

Why is Finage the perfect fit?

Sure, community reactions and alternative solutions are emerging following the closure of IEX stated that their “decision allows IEX to focus on the growth of our core exchange business as IEX Cloud was running at a loss and represented less than 2% of IEX Group's overall revenue."

 

The company offers users to migrate to Intrinio, but customers highlight a significant concern that their fundamental data comes at a high cost ($9.6k per year). This situation underscores the user's effort to check other providers and cross-validate data, reflecting the high peak search for affordable solutions.

Operations with Finage

At Finage, every member of our team understands the critical role that real-time and historical data plays in your operations. Our platform is designed to provide you with data solutions that match and even exceed, the capabilities of IEX Cloud. Here’s why moving to Finage is your best choice:

- Comprehensive Data Coverage: Finage offers extensive coverage of financial data including stock prices, forex, crypto, and more. Our wide array of data sources ensures you have all the information you need at your fingertips.

- Advanced APIs and widgets: Our solutions are made for ease of use and high performance, ensuring that you can integrate our services smoothly into your existing apps without significant rework.

- Reliability and Uptime: With our infrastructure and documentation, we guarantee high reliability and uptime; we will make sure that your apps remain operational and data is quickly accessible.

- Customer Support: Our dedicated support team is always ready to assist you with any queries or issues you might face during the migration process and beyond.

Comparing IEX Cloud and Finage

When we speak about such services, it is crucial to focus on Data Quality and Accuracy. IEX Cloud, as you know, was a reliable provider of accurate data, especially for U.S. stocks. Here, Finage offers high-quality financial data covering the USA and a broad range of global markets. Our data is constantly updated and verified to ensure accuracy.

API integration

- IEX Cloud: provided APIs that were easy to integrate but limited in scope.

- Finage APIs are designed for smooth integration, offering a wider array of endpoints and more extensive data coverage. They come with comprehensive documentation to ease the implementation.

Product offerings

- IEX Cloud: focused primarily on stock data and market data APIs.

- Finage: In addition to stock and market data, the platform provides Forex, crypto, and economic data APIs. We have diverse offerings that make us a great solution for all your data needs.

Support and assistance

- IEX Cloud: Offered standard support with limited customization options

- Finage: We pride ourselves on our dedicated support team. We offer personalized assistance and a helpful transition.

Pricing structure

- IEX Cloud Pricing: free offers of limited API calls and data; paid subscriptions include $9/month for 5 million API calls, but you get what you pay for, so for additional charges, you get the exceeding limits plan. For example, other platforms usually provide a limit of 30 API calls/minute and the subscription would cost around $30/month, providing quality data.

- Finage Pricing: the company offers a range of subscription plans to accommodate diverse financial data needs; from the Free API Plan provides users with 1,000 requests per month at no cost, featuring HTTPS encryption, historical data access, daily updates, and basic support to Basic Plans, starting at $49 per month, and professional packages starting from $299 includes unlimited requests and covers US stocks, forex, and crypto, along with integration support and premium service depending on the packages.

Quick overview of the Finage subscriptions

Note, for those looking for quality solutions and best pricing, we also have the Free Widget Plan that costs $0 and includes unlimited requests, one website registration, and ready-to-use functionality without coding:

 

- The Basic Main Market Plan pricing is available for $99 per month, offering real-time data on US stocks, forex, and crypto, with 100,000 API calls and historical data access

- CFD ETF API Package and CFD Indices API Package are priced at $59 and $49 per month, respectively, providing real-time data on global ETFs and indices, each with similar call limits and historical data.

- For more extensive requirements, the Professional Plan, starting from $299 per month, includes unlimited requests and covers US stocks, forex, and crypto, along with integration support and premium service depending on the package.

- At the higher end, the U.S. Stock Market Plan costs $999 per month and features unlimited API calls, 19 years of historical data, and private server options, while the Global Stocks Real-Time Plan is available for $899, also offering unlimited calls and premium support.

 

Summing up, at the higher end, the U.S. Stock Market Plan costs $999 per month and features unlimited API calls, 19 years of historical data, and private server options, while the Global Stocks Real-Time Plan is available for $899, also offering unlimited calls and premium support.

 

Introducing Finage's New Decentralised Aggregated Dex Feeds

We are excited to introduce our latest innovation, the Decentralised Aggregated Dex Feeds, which signifies our commitment to continuous improvement and cutting-edge technology. 

This new product provides decentralized exchange services, ensuring enhanced security, transparency, and efficiency for your financial transactions. We take pride in our innovative approach and are dedicated to evolving with the needs of our users.

 

Data offerings

Compared to IEX, Finage provides real-time and historical data for stocks, cryptocurrencies, and forex. Additional analytics features are also present.

 

With the ease of use, you can expect more than a user-friendly interface. Users of IEX faced challenges with documentation. At Finage, we offer an intuitive API with comprehensive documentation and examples, including positive user feedback on the onboarding process.

 

Now let’s see the main steps on how to move to Finage

Migrating your applications from IEX Cloud to Finage is a straightforward process. Follow these steps to ensure a smooth transition:

 

- Create the Finage Account: Start by signing up for a Finage account. Visit our sign-up page and fill in the necessary details.

- Explore Our Documentation: See our APIs and services info by visiting the Finage documentation. This will help you understand the structure and capabilities of our platform.

- Map Your Existing Data Needs: Identify the specific data services you currently use with IEX Cloud and find their equivalents in Finage. Our comprehensive documentation and support team can assist with this mapping.

- Update Your API Calls: Replace your IEX Cloud API calls with Finage API calls in your applications. Our APIs are designed to be user-friendly and offer similar endpoints, making this step straightforward.

- Test Your App: Make thorough testing to ensure that your app is working properly with Finage data. Look out for any issues and reach out to our support team if needed.

 

Once you are confident that everything is working as expected, you can fully switch over to Finage. Enjoy uninterrupted data services and take advantage of the additional features.

 

Final thoughts

The closure of IEX Cloud may feel unsettling, but it’s an opportunity to transition to a more reliable and robust solution with Finage. Our platform is built on a foundation of strong performance of data services, ensuring that you can trust us for your financial data needs.

 

With a focus on delivering exceptional support and innovative features, Finage is dedicated to helping you navigate the future with confidence. Don’t hesitate to start your migration today and experience the difference. Book a call with us to discuss your needs and how we can assist. 

 

You can get your Real-Time and Historical Market Data with a free API key.

Build with us today!

Start Free Trial


This blog post is intended solely for informational and promotional purposes regarding Finage's data solutions. We wish to clarify that Finage is not affiliated, associated, authorized, endorsed by, or in any way officially connected with IEX Cloud or its parent company, IEX Group, Inc. All product names, trademarks, and registered trademarks are the property of their respective owners. The use of any trade name or trademark is for identification and reference purposes only and does not imply any association with the trademark holder.