Welcome to IEX Cloud – we’re excited to see what you build with it! Our aim at IEX Cloud is to provide an easy-to-use and cost-effective platform to access a wide breadth of high-quality, reliable financial data and services. We are built to be used by everyone, from individual developers to large businesses.
Providing this breadth of data and ease of access comes at the cost of some complexity vis-à-vis how we charge for different data types. The types of data available in IEX Cloud greatly vary in how often they are updated, as well as their full informational value. To account for this variation, we assign different message weights to our endpoints.
Messages are the fundamental unit by which we measure your usage of IEX Cloud data (and calculate any associated costs for consuming messages over your subscription tier’s monthly message quota). Every endpoint has an associated message weight which can be found in our docs under the “Data Weighting” header.
To help users test out IEX Cloud and see how their use case translates to estimated message counts and costs, we offer a sandbox testing environment with unlimited message usage. To make test calls, go to your IEX Console, and click the “View Test Data” toggle within the navigation. This will allow you to get your test API tokens (all test tokens begin with the lowercase letter “t”).
Once you start making test calls using your test tokens, you can see your test usage within the IEX Console, including estimated overages based on your current tier. You can also see your test usage by data key/endpoint with the Console Usage Report. This can give you an idea of how many messages-per-month you will be on track for using. The" View Test Data" Toggle will need to be toggled on to see test usage.
NOTE: screenshot shows a free user using test messages far in excess of the actual non-test monthly message limit of 500K
For those with less background in using APIs via REST calls, here is a short explanation on how to send REST calls to IEX Cloud and receive back data.
Of course, we understand you may well want to estimate your usage before putting in time and effort testing. To get a rough estimate of your monthly message usage we recommend the following:
- Identify the endpoints you are interested in using and for how many symbols.
- For each endpoint, estimate how often you’d need to fetch the endpoint per symbol per month. Endpoints like stock quote will likely need to be fetched many times throughout a trading day, while something like company financials could be fetched far less frequently depending on your application architecture. (The frequency you will hit an endpoint depends in large part on your application architecture. If you cache data and then serve data to users from the cache, you would not be hitting endpoints as often as if have users of your application fetch data directly from IEX Cloud.)
- Add up the estimated usage of all endpoints across all symbols to calculate estimated monthly message use.
- With your estimated usage, you can estimate your monthly costs under the various subscription tiers – reference our pricing page to see, by tier, the message quota and costs for message usage over the quota.
We know this message estimate process can be a bit labor internsive - we are working on a tool to help users estimate usage and will be releasing it in the near future so stay tuned!
We hope this helps you understand IEX Cloud’s usage model and start testing out the system.