Best Market Data APIs in 2023

Have you noticed that finding the perfect market data API can feel like searching for a needle in a digital haystack? Navigating the available options can be challenging, especially when searching for the ideal solution that caters to your specific data needs.

But don’t worry- I’ve done the work for you! After rigorous testing, creating tutorials on each,  and razor-sharp analysis across several vital categories, I’ve unearthed the top five market data APIs that truly shine. And if you’re curious about my ranking process for these hidden gems, you can dive into my detailed Market Data API Buyer’s Guide to discover the crucial factors that shaped the ratings.

So, are you ready to uncover the best market data APIs and financial databases? Come along as we journey through the top-tier market data APIs, and pinpoint the one that precisely aligns with your needs.

Full Disclosure: I’m a customer of Nasdaq Data Link and Polygon.

Nasdaq Data Link, formerly known as Quandl, is your premier financial and economic data hub. Unlike the other data providers, Nasdaq Data Link is a data marketplace with a treasure trove of market data. With it, you can dive into the current and historical market trends, conduct intricate fundamental analyses, and seamlessly blend this data into your applications.

Key Features

✔ ️ Unbeatable market coverage: Unlock comprehensive real-time and historical data for U.S. stocks and options, U.S. and European commodities, Canadian equities data, forex exchange rates across various currencies, and more.

✔ High-quality, reliable data: Harness the power of the most precise, real-time market data at your fingertips, supercharging your data analysis and trading strategies.

✔ Powerful API: Access a comprehensive suite of streaming and REST APIs to effortlessly merge live data into your workflow.

✔ Highly scalable infrastructure: Experience the power of the premium data plan with a staggering allowance of 5,000 calls every 10 minutes and 720,000 calls per day.

✔ Impressively low latency: Experience data at electrifying speeds, with an SLA of around 300 milliseconds.

Market Coverage

When it comes to market coverage, Nasdaq Data Link is the undisputed champion, offering an unparalleled breadth of data. You can mix and match data subscriptions to get exactly what you need, including U.S. stocks and options, European and U.S. commodities, Canadian equities, and forex exchange rates from a dizzying array of currencies.

This level of coverage is a game-changer, enabling you to dive deep into data analysis and make razor-sharp trading decisions. In fact, this extensive market coverage is why I’ve awarded Nasdaq Data Link a flawless 5 out of 5 in this category.

API Integrations

I appreciate that Nasdaq Data Link supercharges your data analysis with its robust REST APIs. Plus, with their comprehensive guides and top-notch documentation, you can learn how to start analyzing your data as quickly as possible.

Here are some of the programming languages you can seamlessly integrate with Nasdaq Data Link:

• Python
• Quandl API
• R
• Excel
• Ruby

Overall, Nasdaq Data Link earns a solid 4.5 in my book for its user-friendly nature and relatively seamless API integration. I’m always thrilled when a data provider leverages REST application programming interfaces, making the entire experience smoother.

Pricing

In terms of cost, I can’t deny that Nasdaq Data Link is on the expensive side. However, it’s often true that you get what you pay for, and this is certainly the case with Nasdaq Data Link.

Nasdaq Data Link offers multiple pricing tiers:

1. Free Datasets: Access real estate data, consumer sentiment data, federal reserve data, and more.  
2. Premium Datasets: Access equity price data, retail trading data, global economic data, and more. Pricing will vary depending on your chosen dataset.

I appreciate the filtering options provided by Nasdaq Data Link, which include data type, asset class, region, and publisher. This feature significantly streamlines the search process.

And although some of the premium datasets can be expensive, Nasdaq Data Link compensates for this by offering access to free data, a feature that I highly value. Taking everything into account, I’ve given Nasdaq Data Link a rating of 4.2 out of 5 for its pricing structure.

Customer Support and Community

In terms of customer support, Nasdaq Data Link provides a contact page with their email address where you can reach out with questions and concerns. Sometimes the team takes two days to get back to you, which is admittedly on the slow side.

However, Nasdaq Data Link makes up for this with their Docs & Help Page, which outlines its extensive API documentation and provides a Help Center with frequently asked questions. You can also check out their Resource Hub, which includes helpful information on crucial market data topics.

If I were to offer a single nugget of advice, I’d love to see Nasdaq take strides in cultivating a sense of community. Several data APIs in the market have embraced the use of Slack or Discord channels, establishing a network for users to connect.

Nonetheless, I must commend Nasdaq for its efforts in equipping its traders and analysts with the necessary tools to thrive.

My Honest Opinion on Nasdaq Data Link

In the grand arena of market data APIs, Nasdaq Data Link unquestionably takes the crown for coverage. I use the Sharadar database for all of my stock fundamental data and an assortment of subscriptions for my alternative data needs.

Its market coverage is unrivaled, its data quality is impeccable, and its scalability is mind-blowing. Finding another data provider that can match Nasdaq in such a broad range of areas is a challenge.

Sure, I’d love to see a dip in their prices, but let’s get real – the value here is off the charts considering what you get. So if you’re hunting for a market data API that’ll catapult your trades and supercharge your data analysis, look no further. Nasdaq Data Link is your golden ticket.

Polygon is a high-quality market data API that provides real-time and historical market data. Known for its high-speed, low-latency data, it offers comprehensive coverage of U.S. equities, options, ETFs, and more. With its superior API and adequate market coverage, Polygon is an excellent choice for traders and analysts looking for reliable financial data.

Key Features

✔ ️ Decent market coverage: Unlock real-time and historical data for all U.S. stocks and options, thousands of U.S. indices, global currency pairs, and crypto quotes and trades.

✔ Clean, high-quality data: Benefit from accurate, real-time data to skyrocket your stock data analysis and trading skills.

✔ Amazing API: Harness the power of of top-notch REST and streaming stock market APIs for seamless data integration.

✔ Highly scalable infrastructure: Enjoy unlimited API requests for premium customers, or 5 API requests per minute for free.

✔ Impressively low latency: Access data faster than ever with lightning-fast speeds around 20ms.

Market Coverage

Polygon provides decent market coverage, covering all U.S. stocks and options, a myriad of U.S. indices, global currency pairs, and cryptocurrency. This ensures you have a treasure trove of data at your fingertips, ready to fuel your analysis and trading ventures.

But there’s always room for improvement. I’d love to see Polygon broaden its horizons to include a more global spread of equities and commodities. So, in the spirit of constructive critique, I’m scoring Polygon a solid 4.1 for stock market data coverage. This score applauds their current offerings while also nudging them toward future growth.

API Integrations

Polygon’s stock market APIs are a breath of fresh air! Their powerful snap (REST) and streaming (websockets/SIP) APIs have blown me away. The simplicity of their stock API is a game-changer, complete with a robust set of documentation and versatile SDKs adaptable to a variety of programming languages.

Integrate your data with the following applications:

• Polygon
• JavaScript
• Node.js

Overall, I’ve found that Polygon’s stock market data API is a knockout. That’s why I’ve given it a soaring 4.8 out of 5 for sheer user-friendliness.

Pricing

Polygon presents four data packs, each with unique perks and varying price points, as depicted below:

Polygon’s free plan is a real gem! Sure, there’s a limit on scalability, but that’s a small concession for the price tag – zero! And if you opt for their premium offerings, the cost remains surprisingly pocket-friendly while offering even more benefits. That’s why I’m giving it a glowing 4.8 rating for affordability.

Customer Support and Community

Polygon.io truly excels in the realm of customer support. Thanks to their efficient website chat powered by Intercom, every support ticket I’ve lobbed their way has been met with a swift and satisfactory response. They also feature a responsive email system and a comprehensive help center featuring API documentation.

Another excellent feature of Polygon: they bring users together in a vibrant Discord community. Here, you can fire away with your questions, engage with fellow users, and even rub virtual shoulders with the Polygon team.

And in terms of education, Polygon.io doesn’t disappoint. They offer a plethora of guides plus an AI assistant, helping you navigate their platform with ease. This attention to user empowerment is a testament to their commitment to customer satisfaction.

My Honest Opinion on Polygon

For those searching for top-tier, real-time, and historical market data, Polygon is an excellent choice. I use both their REST APIs and WebSockets daily.

It’s a powerhouse of financial information, delivering lightning-fast, low-latency data in a way that’s as thrilling as it is efficient. Its API is a treasure trove of comprehensive data, and with customer support that’s as impressive as a well-executed trade, you’ll never be left in the dark.

Sure, there’s room for growth in its market coverage, but let’s not overlook the value here. The pricing is attractive, and its user community is buzzing with activity. For traders and analysts, Polygon is not just a tool—it’s your secret weapon for financial market data.

IEX Cloud is a financial data powerhouse, serving up real-time and historical stock market insights. Its potent API lets you efficiently weave this data into your apps, making it ideal for crafting trading strategies or diving deep into market analysis.

Key Features

✔ ️ Acceptable market coverage: Access live and historical data for all U.S. stock exchanges, 14 global stock exchanges, 50+ forex currencies, seven commodities, and crypto.

✔ Good data quality: Experience trading with financial data that rarely has inaccuracies, empowering you to make savvy, informed trades.

✔ Unparalleled API performance: Benefit from the sheer brilliance of elite-level REST APIs for an effortless flow of data.

✔ Scalable infrastructure: Unleash the power of an astounding 1,500 data requests per second with the Enterprise Plan.

✔ Ultra-low latency: Experience industry-leading speed in data access, so you’re not left twiddling your thumbs before diving into data analysis.

Market Coverage

While IEX Cloud brings a commendable breadth of market coverage to the table, it’s the potential for more that truly excites me. I’d love to see them broaden their horizons, embracing more international exchanges and a wider range of asset types.

Now, don’t get me wrong, they’re already making waves with their current offerings. But, with a bit more expansion, they could truly be a force to be reckoned with in the financial sector. That’s why, after careful consideration, I’ve given them a solid 4.2 for market coverage.

API Integrations

I’m astounded by the capabilities of IEX Cloud’s market data APIs!

They’ve crafted a REST-based powerhouse that delivers JSON-encoded responses, employs straightforward HTTP response codes, and utilizes resource-driven URLs. I appreciate that you can tailor your data to your heart’s content, even crafting SQL Views to whip up your own customized APIs.

Officially, IEX Cloud has integrations with: 

• Python
• JavaScript

But there’s a whole world of unofficial community libraries and applications at your disposal:

• WebAssembly
• C#
• HTML S
• Excel
• Go
• R

This robust API explains exactly why I’ve ranked IEX Cloud a stunning 4.8 for usability.

Pricing

IEX Cloud has rolled out three pricing plans:

1. Launch Plan: Enjoy pay-as-you-go pricing, access 1 GB of storage, five active rules, two API tokens, and up to 20 custom databases.
2. Grow Plan: Enjoy SSE streaming, access up to 250 GB of storage, unlimited active rules, 50 API tokens, and 1,000 custom datasets.
3. Enterprise Plan: Make private contracts with custom terms, pay for annual invoicing, and enjoy premium support.

IEX Cloud also presents an impressive array of expansion plans and data bundles with prices ranging from $50 to $1,500. This feature allows you to pick the perfect dataset that aligns with your unique needs.

Overall, I’ve found that IEX Cloud’s pricing is a breath of fresh air, offering top-tier quality without breaking the bank. This is why I’ve awarded IEX Cloud a staggering 4.8 on the affordability scale.

Customer Support and Community

I’m satisfied with IEX Cloud’s customer service, as they offer a Support page featuring FAQS about pricing, API, and more. You can also check out their Platform Overview section to view JavaScript’s iex.js Client Library and stay in the loop about major releases and IEX Cloud status updates.

But here’s the best part: With the Product Release Roadmap, you can vote for new features and take pride in shaping the future of a platform that values your input. This feature really makes you feel like you’re part of a community where your opinions matter.

And if you still have questions about IEX Cloud, you can drop their customer support team an email. However, I’ve noticed their response time is pretty slow, so I hope that they work to improve this soon.

My Honest Opinion on IEX Cloud

In the realm of market data APIs, I believe that IEX Cloud stands as a titan. It’s a lightning-fast, top-tier service that delivers high-caliber APIs at a price that won’t break the bank.

Could it cover a little more market territory? Sure. But let’s not lose sight of the big picture. IEX Cloud’s performance is nothing short of stellar, and its affordability makes it a go-to choice for savvy traders and sharp analysts.

So, if you’re hunting down a market data API that’s reliable, efficient, and won’t empty your wallet, remember that IEX Cloud is a reliable choice.

In fourth place, we have Alpaca Markets. The key here is that they’re not just a data provider but an advanced API-first brokerage offering access to real-time and historical data with unbeatable accuracy and flawless API integration.

Key Features

✔ ️ Acceptable market coverage: Access real-time and historical data for all U.S. stock and cryptocurrency data.

✔ Exceptional financial data accuracy: Unlock the most cutting-edge, precise data in the trading realm, and elevate your analysis and trades to new heights.

✔ Robust API: Leverage a range of open-source SDKs for effortless API integration and straightforward data accessibility.

✔ Scalable infrastructure: Access up to 10,000 API requests per minute.

✔ Decent latency: Avoid delays in accessing necessary stock market data and making crucial financial decisions.

Market Coverage

While Alpaca Markets has certainly caught my attention, I yearn for a broader horizon when it comes to their market coverage. Currently, they’re playing it safe with U.S. stock market and cryptocurrency data. But I’d love to see them dive into international markets and a wider array of assets!

Taking everything into account, Alpaca Markets earns a modest 3.8 stars in the market coverage category from me. It’s a respectable score, but there’s still room for them to really shake things up.

API Integrations

I’ve found that Alpaca’s sleek, stock API-first solutions are a game-changer, empowering you to delve deep into data analysis or seamlessly sync applications. Whether you’re plunging into the U.S. equities market or crafting algorithmic trading strategies, Alpaca’s got an API just for you.

Their API documentation is nothing short of comprehensive, boasting open-source SDKs in multiple languages. Let’s take a quick peek at Alpaca’s official client SDKs:

• Python
• C#/.NET
• Node
• Go

Alpaca Markets also features community-made SDKs for those who need an API wrapper in alternate languages. I love that they make this library easily accessible for users who prefer ultimate customization.

Pricing

Alpaca Markets’ pricing is fairly competitive, as they offer three distinct pricing plans: Free, Trader Professional, and Broker.

I appreciate that Alpaca offers a free plan for accessing stock data, as it’s a genuine game-changer for those looking to stretch their dollars. But it’s great they also offer premium plans, unlocking a treasure trove of benefits – instant data access, a surge in API calls, and a broader market landscape. It’s like giving your trading a turbo boost!

With these benefits in mind, I’ve awarded Alpaca Markets a solid 4.6 out of 5 for its pricing. It’s an acceptable blend of affordability and premium access.

Customer Support and Community

I appreciate what Alpaca offers in terms of customer support, including a Contact page with an email address for your burning questions or support needs. But the real gem? Their vibrant Slack channel and Community Forum. These are hubs where users can mingle, exchange insightful ideas, and create a thriving community.

Alpaca also serves up insightful articles, hot on the heels of the latest industry trends. Plus, they’ve got a wealth of guides and resources, designed to teach you how to integrate their API into your data analysis. Needless to say, I’m impressed by what this market data API offers in terms of customer service and resources.

My Honest Opinion on Alpaca Markets

In my opinion, Alpaca Markets stands out as an exceptional market data API. Its market data precision and seamless API integration are truly unparalleled. Yes, it might need to broaden its market coverage, but let’s not lose sight of the fact that a lot of the data Alpaca offers is free!

So if you’re on a quest for a market data API that offers trustworthy data and groundbreaking API technology, Alpaca Markets is the trailblazer in this field, and I wholeheartedly recommend it. So, why wait? Dive in and test out Alpaca today!

Intrinio is a financial data provider that offers market data through its robust API. It offers powerful tools for data analysis, making it a great choice for traders, analysts, and developers looking for reliable and comprehensive market data.

Key Features

✔ ️ Some market coverage: Access data encompassing all U.S. stocks and options, coupled with an impressive selection of over 100,000 globally traded securities.

✔ High-quality financial data: Unlock accurate, NBBO-backed data to gain valuable market insights and study industry trends.

✔ Cutting-edge APIs: Experience the most fluid data fusion with some of the highest quality APIs available. 

✔ Highly scalable infrastructure: Unleash the power of Intrinio’s cutting-edge infrastructure, capable of launching 2,000 calls a minute and 600 calls per data feed subscription.

✔ Decent latency: Access data quickly with latency rates around a mere ~20ms.

Market Coverage

While Intrinio’s market coverage is decent, it’s not quite a home run. They could step up their game by branching out into more diverse assets – I’m thinking cryptocurrencies are a prime example.

 But let’s not overlook their dedication to customer satisfaction. They go the extra mile, connecting you with data providers for any assets they don’t cover – now that’s service! It’s this customer-first mentality that earns Intrinio a solid 3.8 in the market coverage category.

API Integrations

I’m a huge fan of Intrinio’s stock market APIs. It’s like a secret weapon for traders, analysts, and anyone who needs data at their fingertips. It’s not just user-friendly – it’s a joy to use. The authentication process is smooth as silk with URL Parameter Authentication and the data is served up in the super-readable JSON format.

So here’s what Intrinio lets users integrate their stock market data into:

• R
• Python
• JavaScript
• Ruby
• Java
• C#
• WebSocket API
• Snowflake direct database access

This isn’t just an API – it’s a stock market data integration powerhouse. It’s one of the best out there, hands down. That’s why I’m giving Intrinio a well-deserved 4.8 for usability.

Pricing

Intrinio offers multiple data packages, each crafted to cater to a range of data needs and budget constraints. Whether you’re after stock data prices, fundamentals, options, ETFs, or ESGs, Intrinio has a plan for you.

Let’s check out Intrinio’s data packages:

• Stock Prices Packages: Stock pricing data with Bronze, Silver, and Gold Plans
• Fundamentals Packages: Fundamental data with Bronze, Silver, and Gold Plans
• Options Packages: Options data with Bronze, Silver, and Gold Plans
• ETF Packages: Exchange-traded funds (EFT) data with Silver and Gold Plans
• ESG Packages: Environmental, social, and governance data with Bronze, Silver, and Gold Plans

Overall, Intrinio’s pricing is affordable, nailing a 4.7 on my scale. Their smorgasbord of plans is a feast for every budget and need, making them a top-notch choice for market data APIs.

Customer Support and Community

Intrinio’s customer service truly shines, featuring a robust Help Center with multiple ways to connect with their team. Their live-chat feature is a game-changer – I’ve tried it myself and can vouch for its immediate, effective assistance.

Navigating Intrinio’s software is a breeze, thanks to their Data Tag Library and API Explorer. But where Intrinio really steals the spotlight is their unique commitment to customer support. They go the extra mile and connect you with other data providers for any assets they don’t cover. This is a godsend, especially considering I’ve rated Intrinio a tad lower for market coverage.

My Honest Opinion on Intrinio

Overall, I’m impressed with what Intrinio has to offer, which is why I’ve included it as one of the top market data APIs. This tool doesn’t just do the job, it excels at it, offering unbeatable data accuracy, affordable pricing, and an effortless API integration. Sure, I’d love to see them include data for more markets, but their unwavering dedication to customer satisfaction makes obtaining stock market data easy.

So if you’re seeking a market data API that’s dependable, effective, and puts the customer first, Intrinio is a heavyweight contender. But don’t just rely on my rave review. Experience the Intrinio difference for yourself today and succeed in the stock market!

Frequently Asked Questions (FAQ)

The Bottom Line

The quest for the ultimate market data API doesn’t have to feel like an endless search anymore. Now that you’re armed with the top-notch quintet of market data APIs – Nasdaq Data Link, Polygon, IEX Cloud, Alpaca Markets, and Intrinio, you’re all set to tap into the goldmine of reliable, superior data without a hitch. Each of these APIs is a gem in its own right, boasting unique capabilities, broad market reach, and silky-smooth integration.

Whether you’re an algorithmic trader, a sharp-eyed analyst, or a data enthusiast, these APIs will turbocharge your data analysis and trading strategies. So, take the plunge, delve into these data superstars, and discover the one that best aligns with your needs. Happy data hunting!