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Looking through their docs... The source for stock data is scraping Yahoo Finance or using IEX Cloud... The first is not legitimate and exchanges are not going
by cyral 5y ago
Looking through their docs... The source for stock data is scraping Yahoo Finance or using IEX Cloud...
The first is not legitimate and exchanges are not going to like that... and the second is only giving you roughly 2-3% of trading volume as IEX is a rather small exchange.
I wonder how this will ever be competitive without actual data? Getting data from a single market (consolidated equity feed, options, futures, etc) can be upwards of $100k per year, not including the fees per-user (small for individuals, very large for any finance professional). These exchanges and organizations are also pretty serious about their intellectual property and will pursue apps that distribute it without a license. In addition to having a license for the data, you need a vendor to actually deliver the datafeed, which is a big cost in itself.