Polygon.io vs Refinitiv Eikon (2026) — Which Is Better?
Compare Polygon.io and Refinitiv Eikon — features, pricing, pros and cons.
Data below reflects each vendor's official docs at time of writing. Pricing, features, and account terms can change; check the source of truth on each provider's site. Methodology →
The Short Version
Higher Rated
Refinitiv Eikon (Retired) (4.5)
More Affordable
Polygon.io (Free)
Polygon.io
Polygon.io pricing, free tier limits, API features, and real-time market data plans compared for developers, algo traders, and fintech builders.
Refinitiv Eikon (Retired)
Eikon was retired by LSEG on June 30, 2025 and replaced by LSEG Workspace. This guide explains the migration, current product and pricing process.
Data Coverage & Delivery Breakdown
| Feature | Polygon.io | Refinitiv Eikon (Retired) |
|---|---|---|
| Rating | ★ 4.4 | ★ 4.5 |
| Starting Price | Free | Free |
| Free Tier | Yes | No |
| Markets | stocks, options, forex, crypto | stocks, options, futures, forex, crypto |
| AI Analysis | ✗ | ✓ |
| Backtesting | ✗ | ✗ |
| Paper Trading | ✗ | ✗ |
| Price Alerts | ✗ | ✓ |
| Mobile App | ✗ | ✓ |
| API Access | ✓ | ✓ |
| Social Features | ✗ | ✗ |
| Broker Integration | ✗ | ✓ |
| Custom Indicators | ✗ | ✓ |
| Automated Trading | ✗ | ✗ |
| Trade Journaling | ✗ | ✗ |
| Performance Analytics | ✗ | ✓ |
| Risk Management | ✗ | ✓ |
| News Feed | ✓ | ✓ |
| Education Content | ✗ | ✓ |
Market-Data Head-to-Head
Polygon.io and Refinitiv Eikon occupy opposite ends of the trading platform spectrum. Polygon.io is API-first, targeting developers and quantitative traders with a free tier (5 req/min) and optional paid real-time upgrades ($199/mo). Refinitiv Eikon is institutional-grade, priced at $1800/mo, positioning itself as a Bloomberg Terminal alternative. Polygon.io wins on accessibility and development flexibility; Refinitiv Eikon wins on institutional depth and professional legitimacy.
The critical differentiator is data delivery and scope. Polygon.io excels with WebSocket streaming, tick-level precision, and straightforward API access—ideal for building custom trading systems. Refinitiv Eikon counters with Reuters' unmatched news feed, Datastream's 70+ years of historical data, and native Excel integration for quantitative work. Eikon also offers direct institutional workflows absent from Polygon.io.
Choose Polygon.io if you're a developer, quant trader, or algo trader optimizing for cost and flexibility. Its free tier handles research-stage work without commitment. Pick Refinitiv Eikon if you're a professional trader, portfolio manager, or institution requiring institutional-grade reporting, real-time news synthesis, and long-term historical validation. The $1800/mo cost is justified only if you use Reuters and institutional features regularly.
Polygon.io: Pros & Cons
Pros
- + WebSocket streaming for real-time data
- + Tick-level historical precision
- + Useful free tier for API testing and prototypes
- + Institutional-grade data quality
Cons
- - Real-time stock data requires the $199/mo Advanced plan
- - Can be complex for non-developers
- - Options and multi-asset use cases can change the total data budget
- - Less beginner-friendly than Alpha Vantage
Refinitiv Eikon (Retired): Pros & Cons
Pros
- + Modern successor to Eikon with desktop, browser and iOS access
- + Exclusive Reuters News plus professional data workflows
- + Workspace APIs and updated Office integrations
- + Customizable institutional research and trading workflows
Cons
- - No transparent public list price
- - Not designed or priced for ordinary retail traders
- - Legacy Eikon COM and .NET workflows may require migration work
- - Data and exchange entitlements can make quotes difficult to compare