Market data sources and what their licences say
Where trading code gets its data, and what you may do with it. 20 sources on the register: 17 had at least one of their own pages read and 3 could not be read at all. 1 of them states a position on training machine learning or AI models. For the rest the pages we opened are silent, which is neither permission nor a ban.
Risk warning: CFDs and spread bets are complex instruments and come with a high risk of losing money rapidly due to leverage. You can lose money on these products, and each provider publishes its own loss figure under FCA rules. You should consider whether you understand how they work and whether you can afford to take the high risk of losing your money. Automated and API trading can amplify losses through bugs, connectivity failures and runaway orders.
Inclusion is not a recommendation. Rows are in name order and nothing here ranks or scores a source. This is a record of what each source's own pages said on the date shown, not legal advice. The vendor's current terms always win where the two differ.
A source whose pages could not be opened is recorded as not verified, never as having no terms. Where a page does not mention something, the row says not stated on the pages opened. It does not say no.
Why licence terms matter before you build on a dataset
Being able to download data does not tell you what you are allowed to do with it. A data licence usually answers four separate questions, and a yes to one is not a yes to the others.
- May you use it yourself?
- Many plans are worded for personal or non-commercial use. The same data used inside a business, even only internally, can need a different plan.
- May you show it to others?
- Displaying prices in an app, a dashboard or a newsletter is often treated as display or redistribution, which several plans for individuals recorded here rule out.
- May you pass it on?
- Republishing a file, sharing a key or shipping the data inside a product is redistribution. Some public sources allow it with attribution. Some carry third party series that they cannot license to you at all.
- May you train a model on it?
- This is the question most pages do not answer. A trained model can reproduce or reveal the data it learned from, so a vendor may treat training, or sending the data to a hosted AI service, as redistribution. Where the terms are silent you do not have an answer yet.
Three habits follow. Read the terms that apply to your own plan, not the marketing page. Keep a dated copy of the terms you relied on, because they change. And if the terms do not mention your use, ask the vendor in writing before you build on it. None of this is legal advice: for anything that matters, take advice from someone qualified to give it.
Paid vendors aimed at developers
Commercial data vendors. Most publish a free tier or a trial beside their paid plans, and most license the data for your own use only. 9 on the register, in name order. Each source's licence position is the line under its row.
| Source | What it covers | Free tier | Delivery |
|---|---|---|---|
| Alpha VantageAlpha Vantage Inc.4 pages read | 'From traditional asset classes (e.g., stocks, ETFs, mutual funds, market indices) to economic indicators, from foreign exchange rates to commodities'.alphavantage.coread | 'We are pleased to provide free stock API service covering the majority of our datasets for 25 API requests per day and unlimited API requests for verified open-source or educational projects.'alphavantage.coread | 'a set of powerful and developer-friendly data APIs and spreadsheets'. The page title reads 'Free Stock APIs in JSON & Excel'.alphavantage.coread |
| Licence position RedistributionThe terms of service grant use 'for personal, non-commercial use, unless you and Alpha Vantage have agreed otherwise in writing'. Use counts as commercial where 'You plan to use or provide information accessed through the Alpha Vantage Platform as part of any type of commercial activity that allows individuals or entities other than User to access information directly or indirectly'. The word redistribute does not appear in the document.alphavantage.coread Training AI modelsNot stated on the pages openedNot stated in the terms of service, which contain no clause on machine learning, AI or model training. Silence is neither permission nor prohibition.alphavantage.colooked for | |||
| DatabentoDatabento, Inc.6 pages read | 'Licensed distributor for 50+ trading venues.' 'Simple APIs for futures, options, and equities.' 'Tick data, full order book, and more.'databento.comread | No standing free tier is stated. New accounts are offered credit: 'New users get $125 in free credits that can be used towards historical data from any of our datasets.' 'Credits expire 6 months after signup and each team is eligible for one set of credits.'databento.comread | 'Databento works with any language through our Raw API, which uses a binary protocol over TCP, and our HTTP API. We also provide client libraries for Rust, Python, and C++.' The same page describes 'Real-time, intraday, and historical data.'databento.comread |
| Licence position RedistributionFrom the question 'Can I redistribute your data?' on the pricing page: 'Your redistribution rights depend on the dataset.' 'Most of our datasets can be redistributed internally or externally after 24 hours.' The terms that govern this were not read.databento.comread Training AI modelsNot stated on the pages openedSilence is neither permission nor prohibition. The terms page could not be read. | |||
| EODHD (EOD Historical Data)EOD Historical Data3 pages read | 'Market Data API for Stocks, ETFs & Forex'. 'Access real-time, historical, and end-of-day financial data.' The home page counts '60 Stock exchanges', '150 000 Tickers', '20 000 ETFs', '600 Indices' and '1100 Forex pairs'.eodhd.comread | 'Free Package' at '£0 /mo.' The plan table gives it 20 API calls a day, 20 requests a minute and a history depth of '1 yr'.eodhd.comread | 'EODHD works with REST calls, Python scripts, and AI-agent workflows.'eodhd.comread |
| Licence position RedistributionOn personal use: 'Non-Professional Users are permitted to store, manipulate, and analyze the data for private, non-commercial purposes. However, they are prohibited from: Sharing access to their account with others, including within groups. Selling, reselling, retransmitting, redistributing, displaying, or granting access to the Information or Services, whether in its original or repackaged form.'eodhd.comread Training AI modelsNot stated on the pages openedNot stated in the terms and conditions, which contain no clause on machine learning or model training. Silence is neither permission nor prohibition.eodhd.comlooked for | |||
| FinnhubFinnhub2 pages read | The site's title reads 'Finnhub Stock APIs - Real-time stock prices, Company fundamentals, Estimates, and Alternative data.'finnhub.ioread | Not verifiedThe pricing page returned no readable text. The terms of service say of every plan: 'There is a 30 API calls/second limit on top of all plan's limit'. | Not verifiedThe documentation page returned no readable text. |
| Licence position Redistribution'You hereby agree to not redistribute or share access to data or derived results from the data obtained from Finnhub with anyone or any 3rd party without written approval from Finnhub.' 'All plan listed on Finnhub website is strictly for personal use unless explicitly stated otherwise. Personal plan can't be used by any business even internally without a written approval.'finnhub.ioread Training AI modelsNot stated on the pages openedNot stated in the terms of service, which contain no clause on machine learning, AI or model training. Note that the redistribution clause above covers 'derived results from the data'. Silence is neither permission nor prohibition.finnhub.iolooked for | |||
| IntrinioIntrinio4 pages read | The feeds listed on the individual plan: 'US Fundamentals', 'US EOD & Historical Data for Stocks', 'US EOD & Historical Data for Options', '15-min delayed Stocks (CBOE ONE)', and real-time price feeds for equities and options.intrinio.comread | No free tier is stated. The plans read 'Free trial available'.intrinio.comread | The documentation lists a web API, a 'Realtime Stock Prices Websocket' and SDKs for C#, Java, JavaScript, Python, R and Ruby.docs.intrinio.comread |
| Licence position RedistributionThe individual plan reads 'No redistribution or display'. The terms of service, 'Effective Date: September 3, 2026', section 2.2: 'you may access and use the Services and Intrinio Data solely for your own internal purposes', and 'Commercialization, redistribution, Display, resale, sublicensing, and other third-party use rights are generally available only under Startup and Enterprise plans subject to an executed Order Form'.intrinio.comread Training AI modelsStated, in section 2.3 of the terms of service. 'The restrictions set forth in Section 2.2 apply in full to any use of Intrinio Data in connection with artificial intelligence, machine learning, or automated systems'. Counted as redistribution or display needing extra rights: 'use of Intrinio Data to train, fine-tune, or otherwise embed data into any model or system capable of reproducing, approximating, or revealing the underlying Intrinio Data in its outputs', and 'transmission of Intrinio Data to any third-party AI model provider, large language model API, or externally hosted machine learning service'. Permitted without extra rights 'only where (i) all outputs remain strictly internal to your organization and are not made available to any third party, and (ii) the AI or machine learning system is fully hosted and controlled within your own infrastructure'.intrinio.comread | |||
| Massive (Polygon.io)Massive.com, Inc.4 pages read | The site lists its products as 'Stocks Options Indices Currencies Futures'. 'Depending on your plan: tick-level trades, quotes, and aggregate bars. Recency from end-of-day to real-time, up to 20+ years of history.'massive.comread | 'Stocks Basic' at '$0 /month': 'All US Stocks Tickers', '5 API Calls / Minute', '2 Years Historical Data', 'End of Day Data', marked 'Individual use'.massive.comread | The pricing page lists 'Flat Files' and 'WebSockets' among plan features beside API calls. The home page shows a REST client in Python, JavaScript, Go and Java.massive.comread |
| Licence position RedistributionThe terms for individuals, 'Last Updated: July 18, 2025', grant a right to use the services 'solely for your own personal, non-commercial, and non-business purposes' and forbid 'making unauthorized copies of any content made available on or through the Services'. The word redistribute does not appear in them about data. The terms for businesses were not read.massive.comread Training AI modelsNot stated on the pages openedNot stated in the terms for individuals, which contain no clause on machine learning, AI or model training. The terms for businesses were not read. Silence is neither permission nor prohibition.massive.comlooked for | |||
| Nasdaq Data LinkNasdaq, Inc.Not verified No page could be read. Attempted . | Not verifiedNo page on data.nasdaq.com returned readable text. | Not verified | Not verified |
| Licence position RedistributionNot verifiedNo terms page could be read, which says nothing about what the terms allow. Training AI modelsNot verifiedNo terms page could be read, which is neither permission nor prohibition. | |||
| TiingoTiingo2 pages read | The documentation lists endpoints for End-of-Day, News, Crypto, Forex, IEX, Fundamentals, Dividends and Splits.tiingo.comread | 'Starter' at '$0/month': 'Unique Symbols per Month: 500', 'Max Requests Per Hour: 50', 'Max Requests Per Day: 1000', 'Max Bandwidth Per Month: 1 GB'.tiingo.comread | REST endpoints for 'querying data, especially historical data' and a Websocket to 'stream real-time data'.tiingo.comread |
| Licence position RedistributionFor Basic and Power accounts: 'data is for internal and personal use only. You may not redistribute the data in any form.' For Commercial accounts: 'data is licensed for internal commercial usage. You may not redistribute the data in any form.' The page tells anyone wanting redistribution rights to contact sales.tiingo.comread Training AI modelsNot stated on the pages openedSilence is neither permission nor prohibition. No terms of use document was read. | |||
| Twelve DataTwelve Data Pte. Ltd.3 pages read | 'Access stocks, forex and other financial assets from anywhere at any time.' '250+ Exchanges are supported, across the world.' '82,000+ Different financial assets and many more to come.'twelvedata.comread | 'Basic', priced 'Free': '8 API (800 a day) + 8 trial WS' credits. Its usage note reads 'Data may be used internally for testing, evaluation, or development purposes only. The data cannot be displayed to users, shared externally, or used in production systems.'twelvedata.comread | 'APIs, WebSocket, SDKs unified for all financial data'.twelvedata.comread |
| Licence position RedistributionThe individual plans describe 'Internal non-display data access': 'Use the data internally for programmatic processing, analysis, system integration, and internal display. The data may not be redistributed or made available to external parties.' The terms of use, dated January 1, 2026, section 2.3(b), forbid a user to 'Redistribute, resell, sublicense, or transfer any Data or access rights to third parties except as expressly permitted'.twelvedata.comread Training AI modelsNot stated on the pages openedNot stated in the terms of use as read, which contain no clause on machine learning, AI or model training. Silence is neither permission nor prohibition.twelvedata.comlooked for | |||
Free and public sources
Central banks, regulators and registries. Free to read does not always mean free to republish: several carry third party series under their own terms. 6 on the register, in name order. Each source's licence position is the line under its row.
| Source | What it covers | Free tier | Delivery |
|---|---|---|---|
| Bank of England databaseBank of England3 pages read | 'Browse, visualise and export the data series published by the Bank of England'. The database's quick links include interest and exchange rates data.bankofengland.co.ukread | Not stated on the pages openedNo charge and no request limit are stated on the pages opened. | Files. The help page describes Excel, HTML, XML and CSV downloads.bankofengland.co.ukread |
| Licence position Redistribution'The information made available via the Database is the copyright of the Governor and Company of the Bank, unless otherwise stated. Reproduction of data in the Database is subject to the terms of the UK Open Government Licence, allowing and encouraging free and flexible data reuse.' With an exception: 'selected exchange rate data and series are excluded from this licence as they are reproduced by the Bank under licence from third parties. In these instances, you are advised to contact us directly for permission if you wish to reproduce this information.'bankofengland.co.ukread Training AI modelsNot stated on the pages openedThe legal page mentions AI only about the Bank's own communications. The Open Government Licence itself was not opened. Silence is neither permission nor prohibition.bankofengland.co.uklooked for | |||
| Companies HouseCompanies House (UK government)3 pages read | 'The Companies House API lets you retrieve information about limited companies (and other companies that fall within the Companies Act 2006). The data returned is live and real-time'.developer.company-information.service.gov.ukread | 'You can make up to 600 requests within a five-minute period. If you exceed this limit, you will receive a 429 Too Many Requests HTTP status code'.developer-specs.company-information.service.gov.ukread | A REST API, and bulk files: 'The company data product is a free monthly snapshot of information for live companies on the public register', as ZIP files of CSV.gov.ukread |
| Licence position Redistribution'We impose no rules or requirements on how the information on the public register is used, and we're not responsible for your use of the company data. You are responsible for complying with any applicable data protection, copyright and other legislation and regulations. You should check that you've met all the necessary legal requirements before you publish any information.'gov.ukread Training AI modelsNot stated on the pages openedThe sentence above on use of the register is general and does not mention models. The register holds personal data about officers, and the page points to data protection law. Silence is neither permission nor prohibition.gov.uklooked for | |||
| ECB euro foreign exchange reference ratesEuropean Central Bank3 pages read | Daily reference rates, 'All currencies quoted against the euro'. 'The reference rates are usually updated at around 16:00 CET every working day, except on TARGET closing days.' 'The reference rates are published for information purposes only. Using the rates for transaction purposes is strongly discouraged.'ecb.europa.euread | 'users of this website may make free use of the information obtained directly from it subject to the following conditions'. No request limit is stated on the pages opened.ecb.europa.euread | Files: the latest rates as PDF, CSV and XML, and the time series as 'CSV (.zip)', 'XML', 'XML (last 90 days only)' and 'XML (SDMX-ML)'. The ECB Data Portal also has an API: 'The ECB SDMX 2.1 RESTful web service offers programmatic access to the statistical data and metadata disseminated via the ECB Data Portal.'ecb.europa.euread |
| Licence position RedistributionAllowed with conditions. 'When such information is distributed or reproduced, it must appear accurately and the ECB must be cited as the source.' Where it is put into documents that are sold, the publisher 'must inform buyers, both before they pay any subscription or fee and each time they access the information taken from this website, that the information may be obtained free of charge through this website'. 'If the information is modified by the user (e.g. by seasonal adjustment of statistical data or calculation of growth rates) this must be stated explicitly.' The disclaimer names an exception that was not read in full.ecb.europa.euread Training AI modelsNot stated on the pages openedThe disclaimer mentions AI only about how the ECB drafts its own material. Silence is neither permission nor prohibition.ecb.europa.eulooked for | |||
| FRED (Federal Reserve Economic Data)Federal Reserve Bank of St. Louis4 pages read | The site describes FRED as 'Tools and resources to find and use economic data worldwide'.fred.stlouisfed.orgread | No charge and no request limit are stated on the pages opened. An API key is needed: 'you cannot request or view your API keys without first logging into your fredaccount'.fred.stlouisfed.orgread | 'The FRED® API is based on the REST web service architecture.' 'Our API accommodates any programming language that can parse XML or JSON and communicate with our servers using HTTPS.'fred.stlouisfed.orgread |
| Licence position RedistributionIt depends on who owns the series. 'Data series available through the FRED® API, may be owned by third parties and subject to copyright restrictions.' 'Before using data series owned by third parties for anything other than your own personal use, you must contact the data owner to obtain permission. The Federal Reserve Bank of St. Louis cannot give you such permission'. 'Copyrighted series contain the word 'Copyright' in their notes.'fred.stlouisfed.orgread Training AI modelsNot stated on the pages openedNot stated in the API terms of use, which contain no clause on machine learning, AI or model training. The clause on third party series above applies to any use beyond personal use. Silence is neither permission nor prohibition.fred.stlouisfed.orglooked for | |||
| SEC EDGARU.S. Securities and Exchange Commission3 pages read | 'Currently included in the APIs are the submissions history by filer and the XBRL data from financial statements (forms 10-Q, 10-K,8-K, 20-F, 40-F, 6-K, and their variants).'sec.govread | 'Anyone can access and download this information for free'. 'Current max request rate: 10 requests/second.' 'Please declare your user agent in request headers'. 'The SEC does not allow botnets or automated tools to crawl the site.' The API page adds: 'These APIs do not require any authentication or API keys to access.'sec.govread | 'data.sec.gov was created to host RESTful data APIs delivering JSON-formatted data'. 'The JSON structures are updated throughout the day, in real time, as submissions are disseminated.' A bulk ZIP file is also offered.sec.govread |
| Licence position Redistribution'Information presented on sec.gov is considered public information and may be copied or further distributed by users of the web site without the SEC's permission. Please consider appropriate citation to the SEC as the source.'sec.govread Training AI modelsNot stated on the pages openedNot stated on the pages opened, which contain no clause on machine learning, AI or model training. Silence is neither permission nor prohibition. | |||
| StooqStooqNot verified No page could be read. Attempted . | Not verifiedThe historical data page refused the request. | Not verified | Not verified |
| Licence position RedistributionNot verifiedNo terms page could be read, which says nothing about what the terms allow. Training AI modelsNot verifiedNo terms page could be read, which is neither permission nor prohibition. | |||
Published by a broker or an exchange
Historical data a broker or exchange publishes itself, under that firm's own terms. 2 on the register, in name order. Each source's licence position is the line under its row.
| Source | What it covers | Free tier | Delivery |
|---|---|---|---|
| Binance public dataBinance3 pages read | 'The website Binance Data Collection offers easy access for anyone to download Binance's public market data, which is aggregated into daily or monthly files.' The page documents spot, USD-M futures and COIN-M futures files, including aggregate trades and klines.github.comread | 'Binance grants any individual or legal entity ("you" or "your") access to the Datasets free of charge subject to the terms set forth in these Vision Dataset Terms.' Section 7 requires users to keep to posted rate limits, which were not read.github.comread | Files. 'All symbols are supported, with new daily data becoming available the next day and new monthly data at the first monday of the month.' The repository holds Python and shell download scripts.github.comread |
| Licence position RedistributionThe terms, 'Last Updated: August 26, 2026': 'Datasets are provided to You under the Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International Public License'. 'You shall not license, sub-license, sell, rent, lease, host, or commercially exploit the Datasets or any derivative real-time or historical data feeds.' 'You shall ensure that any redistributed derivative work based on the Datasets provides appropriate attribution to Binance Vision and remains licensed under the identical CC BY-NC-SA 4.0 terms'.github.comread Training AI modelsNot stated on the pages openedModel training is not named in the terms. Two clauses bear on it. 'Use of any data derived from, calculated with, or extracted from the Datasets (including charts, models, and derivative analytical indicators) is strictly governed by these Vision Dataset Terms.' And permitted uses 'are limited to academic research, non-monetized open educational projects, algorithmic historical backtesting for purely personal non-production research, and non-commercial open-source data science evaluations'. Silence on training is neither permission nor prohibition.github.comlooked for | |||
| Dukascopy historical dataDukascopy Bank SA3 pages read | Not stated on the pages openedNot stated in the text of the pages opened. The page is titled 'Forex Historical Data Export' and the tool itself did not return text.dukascopy.comlooked for | Not stated on the pages opened | Not stated on the pages openedThe page title calls it an export. |
| Licence position RedistributionThe website terms of use cover everything on the site. 'you agree to use the WEBSITE solely for your own non-commercial use and benefit, and not for resale or other transfer or disposition to, or use by or for the benefit of, any other person or entity.' 'you may download material from the WEBSITE and/or make one print copy for your own personal, non-commercial use'. They also forbid automated collection: 'You shall not use or attempt to use any 'scraper,' 'robot,' 'bot,' 'spider,' 'data mining,' 'computer code,' or any other automate device, program, tool, algorithm, process or methodology to access, acquire, copy, or monitor any portion of the WEBSITE, any data or content found on or accessed through the WEBSITE, or any other WEBSITE information without the prior express written consent of DUKASCOPY.'dukascopy.comread Training AI modelsNot stated on the pages openedNot stated in the website terms of use, which contain no clause on machine learning or model training. The clauses above on non-commercial use and on automated tools apply to any use. Silence is neither permission nor prohibition.dukascopy.comlooked for | |||
Community libraries and research datasets
Open source libraries and dataset platforms. A library's licence covers its code, not the data it fetches, and on a dataset platform the licence is set per dataset by whoever uploaded it. 3 on the register, in name order. Each source's licence position is the line under its row.
| Source | What it covers | Free tier | Delivery |
|---|---|---|---|
| Hugging Face datasets (category)Hugging Face2 pages read | The terms of service define the term: 'Dataset refers to a structured collection of data samples used to train machine learning Models.' What any one dataset covers is stated on its own page.huggingface.coread | Not stated on the pages opened | Not verifiedThe dataset documentation pages could not be fetched. |
| Licence position RedistributionPer dataset. 'The license can be specified in your repository's README.md file, known as a card on the Hub, in the card's metadata section. Remember to seek out and respect a project's license if you're considering using their code or data.' The terms of service make the uploader answerable for what is posted: 'You are solely responsible for the Content you post'.huggingface.coread Training AI modelsNot stated on the pages openedNo single position: it follows each dataset's own licence, and a dataset with no licence stated gives no answer either way. That an uploader posted a dataset does not show they had the right to license it. Silence is neither permission nor prohibition.huggingface.colooked for | |||
| Kaggle datasets (category)Kaggle (Google)Not verified No page could be read. Attempted . | Not verifiedNeither page returned readable text. | Not verified | Not verified |
| Licence position RedistributionNot verifiedNo terms page could be read, which says nothing about what the terms allow. Training AI modelsNot verifiedNo terms page could be read, which is neither permission nor prohibition. | |||
| Yahoo Finance through yfinanceOpen source project on GitHub (ranaroussi). The data is Yahoo's.2 pages read | 'yfinance offers a Pythonic way to fetch financial & market data from Yahoo! Finance.' 'yfinance is not affiliated, endorsed, or vetted by Yahoo, Inc. It's an open-source tool that uses Yahoo's publicly available APIs, and is intended for research and educational purposes.'github.comread | The library is open source under the Apache 2.0 licence, as its repository states. That licence covers the code, not Yahoo's data. No request limit is stated.github.comread | A Python library, installed with 'pip install yfinance'.github.comread |
| Licence position RedistributionThe library's page says 'the Yahoo! finance API is intended for personal use only' and sends the reader to Yahoo's terms of use for the rights to the data downloaded. Those terms were not read.github.comread Training AI modelsNot stated on the pages openedThe library's page words the intended use as personal, and Yahoo's terms were not read. Silence is neither permission nor prohibition. | |||
How to read a row
- Words in quotation marks
- The source's own wording, copied from the page linked beside it. Everything outside the quotation marks is our description of what the page shows.
- Not stated on the pages opened
- We opened the source's pages and none of them said it. Another page, or the terms for a different plan, may. It is never a no and never a yes.
- Not verified
- The page would not open, or returned nothing readable. We did not work around a block and did not fill the gap from anyone else's description.
- The date
- The day we read that page. Prices, limits and terms change, so check the page itself before you rely on any of it.
Each source has its own page with the full record: history depth, pricing as worded, any official Python library, every page opened and every document that was not.
Download and cite
Download the directory: JSON, CSV. Licensed CC BY 4.0. The quoted wording inside it belongs to each source. Cite as: Broker API Hub, market data source directory, openbrokerapi.com/data-sources, with the date you downloaded it.
Common questions
Can I train an AI model on market data I downloaded?
It depends on the licence of that dataset, and most vendor pages we opened do not say either way. Where a page does not mention model training, that is not permission and it is not a ban. Read the terms that apply to your plan, and ask the vendor in writing if they are silent.
Does a free tier mean I can republish the data?
No. Free to download and free to redistribute are separate questions. Several free tiers recorded here are worded for personal or internal use only, and several public sources carry third party series under different terms.
Is this a list of recommended data vendors?
No. Inclusion is not a recommendation and the order is by name. The directory records what each source's own pages said on the date shown, including where a page could not be read.
How to cite this
Market data sources and what their licences say. Broker API Hub, https://openbrokerapi.com/data-sources, newest check .
Where you rely on a single figure, cite the source and the checked date printed beside it as well.