How To Choose The Best Market Data Provider?

Let’s discuss the most crucial selection criteria to choose the best market data provider:

1. Aggregated and Optimized Market Data

The most reputed data vendors obtain market data from multiple trustworthy sources. They aggregate, clean and curate the market data to ensure accuracy and quality.

2. Availability of Low Latency Market Data

Low latency of market data is a crucial selection criterion as it enhances the user experience of trading apps empowered by the data API.

3. Wide-ranging Data Delivery Methods

Analysts, developers, and technical users need market data via API, WebSockets, and FIX. Non-technical users prefer market data in CSV files and Excel.

4. Holistic Service Portfolio

Along with the best-quality market data, the data vendor should also provide solutions to read, scan, visualize, and analyze the market data effectively.

5. Customized and Value-Added Solutions

If the market data provider offers consultancy services and develops bespoke technology solutions, it would be another feather in the crown.

6. Market Data Aligning Business Needs

The market data vendor should provide datasets in different formats and for multiple markets to suit the users’ business needs.

7. Documentation Support to Simplify Integration

The market data vendors should provide in-detail documentation, tutorials, courses, and videos to help developers easily integrate data API.

8. Prompt Customer Support

The best market data providers provide excellent customer support through email, live chat, and other communication channels to resolve users’ queries and technical issues.

9. Flexible Data Subscription Plans

The most reliable market data providers offer a free API key after signing up. The free access is excellent for beginners, and professional and enterprise-level users can subscribe to a suitable plan.

10. Infrastructure Cost Matters

The best market data vendors migrate and maintain their digital workloads on scalable cloud platforms to avoid on-premise server infrastructure.

TraderMade fulfils most expectations, as the data vendor provides low-latency, curated, and accurate market data via various delivery methods through reasonable subscription plans. Work with the best data vendor to empower your applications, data analysis, and trading decisions.

Originally published on Medium.