IEX Cloudʼs model is the key to flexible and transparent pricing.
When we set out to build IEX Cloud, our mission was to make financial data accessible to everyone. This meant going beyond simply building a powerful API that was developer friendly.
IEX Cloud challenges how the industry traditionally charges for data by offering a differentiated, flexible pricing model. Other platforms often require customers to purchase data in bulk, ultimately making customers pay for data they do not need, or lock customers into inflexible subscriptions that are restrictive and prohibitively expensive.
The IEX Cloud subscription is unique. Instead, users can access a wide range of datasets with a single subscription. From there, users can choose exactly what data points they access, when they access it, and how they access it. The key to this subscription model is "credits."
What are credits?
Credits are the fundamental units used to access data and make API calls on IEX Cloud. All features and datasets can be accessed with credits.
Each API endpoint has a certain "data weight," or a given number of credits that are used every time you make an API call with that endpoint. You can use your credits towards a high number of lower-weighted endpoints, a fewer number of higher-weighted endpoints, or a combination. Credits give you the flexibility to choose exactly the data you want to use with your subscription and how often you want to use it.
When you sign up for IEX Cloud, you can choose different plans that provide different numbers of pre-allocated credits, or "core credits."
In sum, IEX Cloud approaches pricing differently so that you donʼt pay up front for data you donʼt need or use. You get open access to datasets and can select different tiers of flexible usage depending on what you need for your specific project.
What are some tips for making the most of my credits?
When users first sign up for IEX Cloud, we give the following recommendations for efficient credit usage:
You can adjust how you use your credits at any time, including which endpoints you access and how often.
Each endpoint has an associated "data weight" — the number of credits used per API call. All data weights can be found in the API documentation. Check this out before using an endpoint, so that you can strategize how you would like to best use your subscription.
Save credits by testing your API calls in our sandbox environment Deprecated. Start with testing before using real financial data. Our sandbox doesnʼt use any of your credits and allows unlimited API calls.
To continue using credits beyond your monthly allocation, add packages as needed throughout your planʼs term.
Cloud Cache is IEX Cloudʼs fully-managed data storage infrastructure. It saves you credits (previously known as messages) by storing results from your previous API calls, so you donʼt pay for the same data twice. Cloud Cache is automatically enabled with Individual and Business plans
Ready to get started?
If youʼre new to IEX Cloud, get started by checking out our Help Center here or emailing us directly at firstname.lastname@example.org.
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