Which is the best news service?

fxguru1 · Newbie Joined: Jul 14, 2006 Posts: 33

courtesy of www.forexbastards.com

1. BLOOMBERG ANYWHERE
Bloomberg Anywhere is an internet platform news service that's set up in a calendar format, and when an economic number is released, you get it immediately on your platform. This service costs $1,700 per month, paid quarterly, so $5,100 every quarter, and in order to get it, you must sign a 2 year contract, and if you break the contract early, you will be liable for 50% of the membership costs until the 2 years is over. Expensive? You bet! So if you break the contract one year too early, you will be liable to pay Bloomberg $10,200 for the 2nd year, even though you won't be using the services. Bloomberg offers various trials of their platform, which vary from 1 week to 60 days. In order to get a trial, you must go through a serious verification process, and usually their sales rep actually visits you personally and makes sure you are serious enough person before they give you a trial. No matter how hard I tried to discuss with Bloomberg to give our group a discount, they just won't do it. They are hard headed like dinosaurs. They have 250,000 subscribers to this $1700 per month service, and they don't want to give any discounts, period...The only discount you can get is if you have multiple computers you want to use their application, they sell you the first license for $1700, and all addition licenses for $1350... You can visit bloomberg on www.bloomberg.com and in the right top corner, click "Bloomberg Anywhere"

2. REUTERS
Reuters has multiple levels of news softwares as well, which also vary in price from $250 per month to about $2,000 per month. The absolute minimal level we need for forex news trading is the one for $750/month. It also has a calendar, similar to bloomberg's, and you have the numbers pop in there super fast, during the news releases. Reuters and Bloomberg speeds on the numbers are nearly identical. Reuters also offers trials that vary from 7 days to 30 days, but getting the trials is a difficult process...most sales people are swamped, and unless you know someone personally, they don't return your phone calls for weeks, then when they do, they also ask you a bunch of questions, and ask you to send them company details, and then maybe if the sales person thinks you are serious enough, he gives you a trial. Reuters happened to be a much more flexible company than Bloomberg, and though they didn't agree to give free trials to all my free signals people, they did agree to give the 30 days free trials to all the paid members of freedomforex.com. Simply, because they feel like whoever signed up for freedomforex.com is a more serious client who could afford to spend some money, therefore could be interested in staying with Reuters paid service after the trial. And instead of making it $750/month, I am trying to negotiate a discount of about $250, so make their service at $500 per month. And by the way if you sign up for Reuters paid service, they do require a yearly contract, with monthly billing.

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