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"Light" alternative to Bloomberg anywhere?

  • #1
  • First Post: Jan 18, 2012 9:12am Jan 18, 2012 9:12am
I am a retail fx trader. I recently received a quote for Bloomberg Anywhere for $1975/mo with 2 year contract. I really can't justify anything more than 1200-1300/mo for something like this. Honestly, the per month price isnt as scary as the 2 year contract. If I get wiped out due to some extraordinary event (stops cant be filled, meteor strikes broker's office, etc), I would be on the hook for a significant amount of money

To the point, is anywhere aware of a service that includes real time charting, analytics w/ economic data, news etc WITHOUT trade execution? I would continue to use my current brokers side by side with whatever service that is. Ideally, budget would be under $1k/mo but $1300 tops

Also, I am not sure if this is the right forum for this thread. Please let me know and Ill move it if so
Any prices quoted are futures
  • #2
  • Jan 18, 2012 10:00am Jan 18, 2012 10:00am
Briefing Trader, maybe.
I had a subscription lots of years ago, and they did excellent, in-depth research that combined technicals and fundamentals well when searching to publish an opportunity.
That was when I traded stocks, so I don't know about forex or commodities (which they also have).
The institutional level may be more your speed, also.
  • #3
  • Jan 18, 2012 11:46am Jan 18, 2012 11:46am
Quoting redteamgo
I am a retail fx trader. I recently received a quote for Bloomberg Anywhere for $1975/mo with 2 year contract. I really can't justify anything more than 1200-1300/mo for something like this. Honestly, the per month price isnt as scary as the 2 year contract. If I get wiped out due to some extraordinary event (stops cant be filled, meteor strikes broker's office, etc), I would be on the hook for a significant amount of money

To the point, is anywhere aware of a service that includes real time charting, analytics w/ economic data, news etc...
reuters or bloomie only I'm afraid but they do cut down versions. The simple feed from Eikon is about $2.5-3k PA so well affordable in your price range. Not sure if bloomie do similar but I'd imagine so.

you should keep your charting tied to executable prices so i'd use a broker export and their partner charting packages, unless you want to laugh at the outrageous price manipulation on MT4 a/cs
  • #4
  • Jan 18, 2012 1:09pm Jan 18, 2012 1:09pm
Could you be more specific what features you are looking for?
  • #5
  • Jan 18, 2012 1:32pm Jan 18, 2012 1:32pm
hi,

can you specify details for what you need bloomberg?

because from my personal experience if you trade only FX i dont see real reason why to pay so much money for that, because you can get some feeds from your broker, oanda news, charting mt4 for example...

ofc if you are doing also equities, bonds or derivatives bbg is very good tool.

mike.
  • #6
  • Jan 18, 2012 1:38pm Jan 18, 2012 1:38pm
Some say that if you do not have enough money for bloomberg terminal, you can use twitter for latest news.

Anyone knows which twitter channels are the best for fundamental news?
  • #7
  • Jan 18, 2012 2:43pm Jan 18, 2012 2:43pm
I'm would know that as well. twitter seems to be a nice choice if you know the right channels...
  • #8
  • Jan 18, 2012 2:59pm Jan 18, 2012 2:59pm
http://thomsonreuterseikon.com/in-your-markets/fx/

I'd also point out Reuters...

However! You gotta be sure something like this is going to aid your trading. I know and work with too many people who sit on bloomberg terminals because they think they need one to be a "professional" but hardly use it's features beyond basic order entry and reading news they could have gotten from Google finance.

Expensive way of fitting in...
FXGears.com
  • #9
  • Jan 18, 2012 3:08pm Jan 18, 2012 3:08pm
Ideally, i would like to be watching equity indices, grains & energy during market hours followed by equity futures and commodity futures by expiration, bond spreads & maturities by month/quarter/year, news (use oanda for this currently), currency indices, detailed historical economic data m/m q/q y/y as available, etc, highly customizable charting overlays, real time correlations, fx vanilla/exotic option pricing

I don't need trade execution. I dont need individual stock profiles etc, I dont need trade ideas or recommendations, I dont need IMing. I'm not concerned with immaterial differences between a given feed and my brokers feed.. 5-10 ticks is not a concern.

I suppose there is no real replacement for BB anywhere short of Reuters Eikon or 3000xtra, which are equally, if not more expensive from what I gather.

triphop, you said Reuters Eikon is 2-3k "PA?" Per annum?
Any prices quoted are futures
  • #10
  • Jan 18, 2012 3:15pm Jan 18, 2012 3:15pm
Quoting redteamgo
Ideally, i would like to be watching equity indices, grains & energy during market hours followed by equity futures and commodity futures by expiration, bond spreads & maturities by month/quarter/year, news (use oanda for this currently), currency indices, detailed historical economic data m/m q/q y/y as available, etc, highly customizable charting overlays, real time correlations, fx vanilla/exotic option pricing

I don't need trade execution. I dont need individual stock profiles etc, I dont need trade ideas or recommendations, I dont need...
Oh... dude...

Open a ThinkorSwim account and fund it with $500 (minimum for realtime data) You'll get 99% of what you want at no monthly cost, no inactivity fees either. Just move money in and out of the account once a year to keep it active.

You can write custom charting indicators, fundamental indicators, quote scanners, and even full on automated strategies (for backtesting) in ThinkScript, which is nearly exactly like javascript.

Economic data, news, etc... all built in and can be filtered by symbol...

The realtime data will include US equities, equity indexes, cash indexes, nearly all futures (they even have less common ones like mixed length lumber,) currency options on futures, equity options, index options... proper exchange reported volume and stats on each symbol.. etc.. . level 2 and T&S all standard.

They have spread trading tools, and you can even chart price differences between symbols without having to code anything by hand... (simple as requesting a chart of "symbol - symbol")

This is what I use for market analysis.
FXGears.com
  • #11
  • Jan 18, 2012 4:19pm Jan 18, 2012 4:19pm
Quoting redteamgo
Ideally, i would like to be watching equity indices, grains & energy during market hours followed by equity futures and commodity futures by expiration, bond spreads & maturities by month/quarter/year, news (use oanda for this currently), currency indices, detailed historical economic data m/m q/q y/y as available, etc, highly customizable charting overlays, real time correlations, fx vanilla/exotic option pricing

I don't need trade execution. I dont need individual stock profiles etc, I dont need trade ideas or recommendations, I dont need...

oki then BBG is a good choice for all of these stuff and i don't know about sth which provide similar functions for lower price....and about Eikon - its definitely not for 2-3 k per annum, price for eikon is apx the same as for BBG, but eikon is sh1tty thing and cannot be compared with bloomie, its like to compare iphone with blackberry
  • #12
  • Jan 18, 2012 5:59pm Jan 18, 2012 5:59pm
Katroo, I'm sure Smith is shaking in his proverbial boots of your damming assessment of Reuters. Absurd.

Anyway, rtg- yeah, 2-3k per annum for the cut down feed, the word being cut down which some people seem to have a hard time understanding here, depending on what you need. However, doesn't cover live prices well at all. your requirements do sound a bit scattergun to me. You should trial them both.
  • #13
  • Jan 18, 2012 8:34pm Jan 18, 2012 8:34pm
I can't imagine paying that kind of dough for a news feed. I do quite well analyzing charts on my own without talking heads clouding things up. Put you money in your trading account!
  • #14
  • Jan 19, 2012 1:55am Jan 19, 2012 1:55am
triphop,

everybody has own opinion, so why do you have such comments?

i actually use both systems so i just told what i think, btw. i think that 95% of people in IB or trading will tell you the same, also the banks when they cut expenses in IB/trading they are shutting down the eikons and not bbgs


Quoting triphop
Katroo, I'm sure Smith is shaking in his proverbial boots of your damming assessment of Reuters. Absurd.

Anyway, rtg- yeah, 2-3k per annum for the cut down feed, the word being cut down which some people seem to have a hard time understanding here, depending on what you need. However, doesn't cover live prices well at all. your requirements do sound a bit scattergun to me. You should trial them both.
  • #15
  • Jan 19, 2012 5:15am Jan 19, 2012 5:15am
Because it's like a two horse race where you've discounted one of the horses because of a long face. Market share is roughly the same between the two, and even if you've got a penchant for orange keys and a big red escape key, the facts are they have pretty similar offerings.
  • #16
  • Sep 30, 2012 6:37am Sep 30, 2012 6:37am
Out of interest - do many of you (who do not have access at work) work with Bloomberg/Reuters?

Thanks
  • #17
  • Oct 2, 2012 8:40am Oct 2, 2012 8:40am
@Jack

Do TOS have a symbol lookup portal, I tried find treasury 10 year yield, but no success? And yes TOS can offer many charts, but still lack like Spain bonds yield, JGBs, etc.
  • #18
  • Oct 2, 2012 8:50am Oct 2, 2012 8:50am
@kolfer, I use thompson one research analyst.

its very nice. also, while they do not necessarily offerit out of the gate, you can get a bloomberg terminal trial which will lead to a promo. their sales team still sends me emails every now and then with an offer to switch.
Any prices quoted are futures
  • #19
  • Oct 4, 2012 8:38am Oct 4, 2012 8:38am
Quoting redteamgo
@kolfer, I use thompson one research analyst.

its very nice. also, while they do not necessarily offerit out of the gate, you can get a bloomberg terminal trial which will lead to a promo. their sales team still sends me emails every now and then with an offer to switch.
How much is that, monthly, if I may ask?

I'd be very interested in a cheaper BBG alternative, as well.
  • #20
  • Oct 6, 2012 3:45am Oct 6, 2012 3:45am
@redteamgo
Thanks, I will check it out. I used to have Xtra and Bloomie but changed job and lost both cause only use feeds right now. I never thought that I will ever say that but I miss both.
@kfmfe04
I believe Reuters is considerably cheaper than Bloomie cause they have more of an on demand way of permissioning. Bloomie is a all-in product. You probably use less than 10 % of data anyway if you are focused on FX only. Bloomie is great cause of their community and the workflow integration. Reuters news and data are better. Not sure if it changed but I always found Bloombergs quality in the editorial space sucked. But I might be biased cause we had a rather attractive representative from Reuters on the floor.
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