Best Bloomberg Terminal Alternatives will be discussed in this article. One of the first and most popular tools for market research and analysis in the financial services sector is Bloomberg Terminal. Bloomberg was a pioneer in democratizing access to financial market data because it was established in 1981, long before businesses routinely used personal computers or the internet.
Currently, Bloomberg Terminal is still a popular alternative for investment companies and experts performing qualitative research, but it is by no means the sole possibility.bOver the past few decades, a number of financial research and market intelligence programs have appeared with identical functionality at far lower costs. Bloomberg, which was initially a part-hardware solution, is falling behind when it comes to meeting the demands of contemporary users because the newest tools have cloud-native capabilities and user interfaces.
Unquestionable factors that continue to position Bloomberg as the market leader include:
- A seasoned user base and product community
- High-caliber data sources
- Tools for real-time collaboration that allow users to communicate with coworkers, clients, and a Larger network of financial experts
- Private news and market research
- Stocks, fixed income securities, and risk modeling are among the capabilities.
But the cost of these features is high. Bloomberg is significantly outside the financial reach of many small or mid-sized businesses at $2000 per month ($24K annually). Additionally, it is crucial to invest in efficiency amid uncertain economic times so you can get more done with fewer resources.
The complicated, heavily packed solution from Bloomberg is cumbersome and provides far more options than the typical customer actually needs. For the majority of business workers, there is a steep understanding curve because the interface is typically more tailored toward users of financial services.
The alternatives we’ll discuss in this article offer comparable experiences at a fraction of Bloomberg’s price, and the majority include special features and advantages that you won’t find anywhere else (including on Bloomberg).
Top 10 Best Bloomberg Terminal Alternatives In 2023
In this article, you can know about Bloomberg Terminal Alternatives here are the details below;
1. AlphaSense
BEST FOR: DETAILED QUALITATIVE RESEARCH AND RELIABLE INFORMATION
AlphaSense is a G2-rated market intelligence and financial research leader. It is designed for businesses who want to develop a comprehensive research plan based on AI and intelligent automation.
The value of AlphaSense is demonstrated by its clientele, which includes 20 of the leading pharmaceutical companies, 85% of the S&P 100, 75% of the top asset management organizations, and 80% of the top consultancies.
More than 10,000 premium range sources, including news & trade periodicals, SEC filings, and corporate filings, are accessible through AlphaSense. Users also have access to two exclusive content libraries:
- Wall Street Insights® – A curated collection of equities research from leading analyst teams is available.
- Steam by AlphaSense – Is a collection of transcripts and one-on-one interviews with business leaders, clients, rivals, and other professionals in the field.
With AlphaSense, users may rapidly get the precise insights they require for their research and never miss a single crucial insight thanks to clever search capabilities:
Smart SynonymsTM
A unique AlphaSense feature called Smart SynonymsTM analyzes each search’s intent and returns results that include both the exact search terms and associated keywords.
AlphaSense simultaneously detects when results are not pertinent to the search’s purpose and automatically filters them out, deleting superfluous information and saving time spent looking through sources that aren’t useful for current study.
Sentiment analysis
Sentiment analysis mines material and identifies the sentiment underlying the words of a given document using natural language processing (NLP) technology. Then it is color-coded for consumers so they can quickly identify favorable, neutral, and unfavorable sentiment in a particular source.
In order to help consumers understand how the need feels about a topic and how sentiment has changed over time, AlphaSense now assigns each search term a numerical sentiment & view change score.
Automated Monitoring
By leveraging real-time notifications, AlphaSense’s automation features can eliminate the need for manual monitoring and make sure users are the first to learn about the subjects, businesses, and industries they care about. Dashboards and watchlists give users quick glances into a variety of businesses or subjects.
Users may be confident that they are always informed of the most recent and significant news, developments, and insights they need to be aware of thanks to this type of automation.
High-Quality User Experience
The AlphaSense platform is made to easily integrate with users’ regular routines and operations. This calls for user-friendly user interfaces, simple export options that enable data manipulation, and compatibility with both PCs and mobile devices.
Respected industry titans from every area are among AlphaSense’s clients:
2. FactSet
ADVANTAGEOUS FOR: UNIQUE DATA SETS AND QUANTITATIVE SCREENING
Similar to Bloomberg, FactSet has been providing clients with financial research services since the 1970s, and today it has a clientele of more than 7000 corporations and 170K individual users. FactSet is a trusted platform for financial advisors, asset owners, investment bankers, and traders because of its outstanding customer support and four decades of experience.
The distinguishing characteristics of FactSet are its extensive data library, which has 30 datasets (two dozen of which are exclusive), and its one-of-a-kind solutions to service a variety of financial subfields, such as:
- Asset administration
- A hedge fund
- Venture capital and private equity
- Corporations
- Money management
To maintain its product current and of the highest caliber, FactSet is also constantly upgrading its technology and acquiring smaller platforms, such content providers. The main disadvantages of adopting FactSet as an alternative to Bloomberg Terminal are that it costs $12,000 a year, which is pricey, and that its qualitative search tool is not nearly as robust or sophisticated as most of its competitors’.
3. Refinitiv Eikon
BEST FOR: PLATFORM CUSTOMIZATION AND EXTERNAL COLLABORATION
According to most industry sources, Refinitiv Eikon is one of Bloomberg’s largest rivals in terms of market share, holding roughly 20% to Bloomberg’s close to 33%.
Refinitiv Eikon, like Bloomberg, offers exclusive news & analysis (Thomson Reuters), as well as access to cooperation tools that link customers to a network of 30K+ enterprises in 180+ countries around the world. The two offer quite a few features in common.
Other noteworthy Refinitiv Eikon characteristics are:
- Data platform APIs that allow users to create unique solutions
- Coupled with search and other basic features are sophisticated graphing tools.
- Possibilities for integrating Microsoft Excel
- Real-time automated alerts
- Open platform that is easily customized
Although they don’t list costs on their website, Investopedia claims that the annual cost of Eikon’s complete solution is about $22,000. They do provide a less expensive version, albeit it has severely reduced features, and it costs $3600 a year.
4. Koyfin
BEST FOR: BUDGET-FRIENDLY BASIC QUANTITATIVE RESEARCH
For investors of all experience levels, including professionals, individuals, and students, there is Koyfin. The Koyfin forum makes investing more accessible without surrendering the expertise and accuracy needed by companies managing real client portfolios. It is renowned for its user-friendly features and in-depth qualitative data.
This is what Koyfin provides:
- 5900+ features in a stock screener to help you identify the best stocks
- Financial documents, valuation research, and in-depth, easily accessible corporate snapshots
- Customizable dashboards for comprehensive trend snapshot views
- Advanced graphics to produce eye-catching graphics and graphs that are adjustable
- Tools for powerful visualization that give a complete view of the financial markets
The fact that Koyfin is more concerned with managing investments than extensive market research is not always a disadvantage. This tool can be too constrained for you if you’re trying to develop a market intelligence strategy. This is another Bloomberg Terminal Alternatives. Also check Blogging Tools
Koyfin starts with a free option that provides constrained versions of the platform’s most crucial functions, making it significantly less expensive than Bloomberg and many other tools on our list.
Additional options include Basic ($15/month), which expands the features accessible with Market News and Snapshots, Plus ($35/month), which offers more unrestricted functionality and export options, & Pro ($70/month), which includes priority assistance and enhanced search options.
5. Symphony
SECURE DATA SHARING IS BEST FOR
Symphony is a distinct kind of solution from the others on our list because it was developed for cooperation between financial services teams, clients, and organizations rather than for direct research.
Although it isn’t directly competing with Bloomberg, its strong communication capabilities make it a valuable tool for businesses that need to collaborate securely online with clients, partners, and other industry competitors.
Features of Symphony include:
- Chat directly
- Computerized work environments (“Rooms”)
- Actual video conferences
- Display sharing
- gLobal user database
- Capability for tagging
Most importantly, since every communication sent through Symphony is encrypted as soon as it is sent, users can interact without ever being restricted by their location or security concerns.
Pricing information is not available on Symphony’s website, however the company does provide different sales services for small businesses and major institutions, indicating that there are different pricing possibilities for each.
6. YCharts
BEST FOR: MAKING VISUALS THAT ARE COMMANDING
An investment research tool called YCharts was first developed to make investing more approachable for both institutional and individual investors. Its key features include a fund screener that lets you filter mutual funds and ETFs by particular criteria and data visualization tools that make insights more interesting for analysts, investors, and other stakeholders.
Three key tools make up the YCharts solution:
- Model Portfolios – Using metrics visualizations, tailored strategy comparison reports, and benchmark modeling, users may create and assess portfolios. Additionally accessible are pre-built, editable templates that can be used with any model you develop.
- Stock Screeners – Users of stock screeners can create custom analysis methods and filter 4000+ financial parameters to locate stocks based on their own criteria.
- Fundamental Charts – Charting programs that make it simple to distribute data visualizations, including the capability to insert them as images into other documents (such as blogs or emails)
YCharts shows a free 7-day trial and three pricing tiers: Standard (for novice investors and students), Professional (for portfolio managers and individuals), and Enterprise (for businesses and advising teams). YCharts offers client-specific pricing for each level upon request. This is another Bloomberg Terminal Alternatives.
7. S&P Capital IQ
BEST FOR: INDEPENDENT SECTOR INSIGHT
Large companies, seasoned corporate and financial researchers, and senior business executives are the target audience for S&P Capital IQ. With over 135 billion data points, including business profiles, financial data, and independent analyst reviews, S&P’s service, like Bloomberg’s, provides full financial research and market intelligence capabilities.
Along with providing tools for all types of complicated investment structures, Capital IQ also provides analysts with up-to-date information, performance comparisons, and fund strategies through its web portal and mobile apps. This is another Bloomberg Terminal Alternatives. Also check APPOINTMENT SCHEDULING SOFTWARE
S&P’s ability to combine fundamental data with industry-specific measurements and analysis for the financial services, insurance, energy, real estate, metals & mining, and technology, media, and telecommunications sectors is one of its strengths. Other crucial characteristics include:
- Simple data extraction from Microsoft Office for use in models and charts
- A high-level tool for visualizing maps of global markets
- Custom dashboards for tracking particular businesses, markets, and subjects
- Application access to real-time data, financial modeling, and quantitative analysis via the web and Excel
S&P Capital IQ pricing alternatives are available upon request but are not made publicly available.
8. Pitchbook
VENUE OFFERED BY: VENTURE CAPITAL
For investors in experience capital, private equity, and mergers and acquisitions, Pitchbook is a research-based and intelligent platform. It offers financial information on both public and private businesses, transactions between the public and private equity markets, investment histories, and details on particular funds. This is another Bloomberg Terminal Alternatives.
For active investors and businesses in the sector, Pitchbook’s services not only offer analytical insights but also strong deal sourcing, business development, and networking skills. Pitchbook offers a more valuable alternative to Bloomberg for businesses or investors specializing in VC, PE, or M&A because it is tailored specifically to their needs.
Nevertheless, Pitchbook is the most costly option on our list, costing $25,000 annually for three users plus another $7,000 for each extra user (according to TrustRadius).
9. Morningstar Premium
EXPERT PORTFOLIO ANALYSIS IS BEST FOR
Morningstar Premium offers a wide range of financial solutions, but Morningstar Direct (designed for professional investors and firms) and Morningstar Investor (designed for individual investors) are the two that are most pertinent to audiences similar to Bloomberg’s. This is another Bloomberg Terminal Alternatives.
Both products offer high-end information and unique insights directly from Morningstar professionals. The Investor solution provides analysis that aids users in making wise investment decisions, while the Direct solution provides stock and portfolio research and ratings.
The Morningstar platforms also include the following noteworthy qualities:
AMORESTRON DIRECT:
- Analytics center for financial analysis
- Morningstar datasets already built
- Risk scenario analysis and personalized investment scorecards
- Ratings that emphasize sustainability
Invest with Morningstar:
- Streamlined stock ratings
- Investment lists with pre-filters and stock screeners
- For portfolio analysis, use Morningstar® Portfolio X-Ray®.
The annual subscription price for Morningstar Investor is $250. Pricing for Morningstar Direct is only accessible upon direct request.
10. The Motley Fool
BEST FOR: TEAMS AND INVESTORS WHO WANT TO LEARN WHILE INVESTING
The investment research tool from The Motley Fool has a remarkable selection of features to fit the requirements of both novice and experienced investors. In addition to their platform solution, they offer a variety of podcasts, a blog, and discussion boards, all of which help them fulfill their aim to “complete the world smarter, happier, & richer.” This is another Bloomberg Terminal Alternatives.
The solution itself is comprehensive, with tools designed to educate investors and offer advice on the best options. Depending on the subscription level they select, users have access to different degrees of expert guidance.
Their most well-known tool and patented stock selection service, The Motley Fool Stock Advisor, costs $199 each year. Users can select The Epic Bundle, which offers tighter advising services and more regular suggestions (ideal for larger portfolios), for more comprehensive packaged services.
The Motley Fool’s biggest disadvantage vs Bloomberg is that it’s not designed for conducting independent research or broader market intelligence. However, this tool is a good option if you’re seeking for ready-made professional information or the capacity to be specific with stock selection and research.
