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Investment Analytics · head to head

Bloomberg Terminal vs FactSet

Bloomberg Terminal logo

Bloomberg Terminal

Investment Analytics

Real-time market data, news, analytics, messaging and execution across all asset classes

From
On request
Free plan
No
Full reviewWebsite
FactSet logo

FactSet

Investment Analytics

Financial data workstation, portfolio analytics and data feeds for investment professionals

From
On request
Free plan
No
Full reviewWebsite

The short version

  • Each has a real cost: Bloomberg Terminal no published pricing or plan tiers; the product page offers only a demo request (checked November 2026).; FactSet no published pricing; FactSet's FAQ says cost depends on the use case and products required, and trials go through sales (checked November 2026).
  • They diverge on capability: Bloomberg Terminal covers Cross-asset market data and analytics, FactSet covers FactSet Workstation.
  • Prices and features above were last checked on 12 November 2026.

Where they differ

Only the attributes on which Bloomberg Terminal and FactSet actually diverge.

Attributes where Bloomberg Terminal and FactSet differ
AttributeBloomberg TerminalFactSet
PlatformsWindows, Web, iOS, Android, APIWindows, Web, API

Identical on both: starting price (On request), pricing model (quote), free tier (No), user rating (Not yet rated), category (Investment Analytics).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Bloomberg Terminal

  • Cross-asset market data and analytics
  • Bloomberg News and Bloomberg Intelligence
  • Instant Bloomberg (IB)
  • Launchpad
  • Execution and order management
  • BQL, BQuant and Excel add-in
  • ASKB
  • Bloomberg Anywhere and Professional app

Only in FactSet

  • FactSet Workstation
  • Universal Screening
  • Microsoft Office integration
  • Portfolio Analysis
  • Mercury AI assistant
  • Model Context Protocol servers
  • Data feeds and cloud delivery

What people use each for

The jobs each tool is most often brought in to do.

Bloomberg Terminal

  • Real-time monitoring of prices, news and alerts across asset classes on a trading desknot FactSet
  • Communicating with counterparties and clients over Instant Bloombergnot FactSet
  • Fixed income and derivatives pricing and analyticsnot FactSet
  • Pulling market and fundamental data into Excel models with the add-in or BQLnot FactSet
  • Executing and managing orders with pre- and post-trade analyticsnot FactSet
  • Following company and industry research from Bloomberg Intelligencenot FactSet

FactSet

  • Equity and credit research with company fundamentals, estimates and screeningnot Bloomberg Terminal
  • Performance attribution and risk reporting on buy-side portfoliosnot Bloomberg Terminal
  • Building refreshable financial models and pitch books in Excel and PowerPointnot Bloomberg Terminal
  • Loading FactSet datasets into Snowflake or Databricks for quant researchnot Bloomberg Terminal
  • Querying portfolio analytics from an internal AI assistant over MCPnot Bloomberg Terminal
  • Deal sourcing and due diligence for private capital teamsnot Bloomberg Terminal

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Bloomberg Terminal

  • No published pricing or plan tiers; the product page offers only a demo request (checked November 2026).
  • The installable Terminal is Windows-only. Bloomberg's own FAQ says it is not available for native installation on Mac, and points Mac users to Bloomberg Anywhere in a browser.
  • Access requires biometric (fingerprint) and multi-method authentication, which adds a hardware or app step for every user and complicates shared or locked-down environments.
  • The interface is driven by function codes rather than menus; Bloomberg runs a dedicated Terminal Essentials video series for new users, and the learning curve is a real onboarding cost.
  • ASKB, the AI interface, was announced as a beta, so the natural-language layer competitors are shipping is not yet a general feature.

FactSet

  • No published pricing; FactSet's FAQ says cost depends on the use case and products required, and trials go through sales (checked November 2026).
  • The Excel add-in is typically part of a broader subscription according to FactSet's FAQ, so Office integration cannot be bought as a lightweight standalone tool.
  • The installed Workstation is Windows only, with 16 GB or more of memory recommended and a base installation upgrade advised every 12 months, per FactSet's installation guide.
  • Portfolio Analytics MCP launched as a limited release in June 2026, so AI access to attribution and risk outputs is not yet a mature, generally available feature for every client.
  • Benchmark DataFeeds on Snowflake are built per client, and FactSet's own developer recipe says designing each workflow takes several days to a week.

Pricing, plan by plan

Bloomberg Terminal

On request

No published plan breakdown. See the Bloomberg Terminal review.

FactSet

On request

No published plan breakdown. See the FactSet review.

Which should you pick?

Choose Bloomberg Terminal if

  • You need cross-asset market data and analytics.
  • You work on Windows, Web, iOS, Android, API.
  • You also want bloomberg news and bloomberg intelligence.
Bloomberg Terminal review

Choose FactSet if

  • You need factset workstation.
  • You work on Windows, Web, API.
  • You also want universal screening.
FactSet review

Questions people ask

Is Bloomberg Terminal or FactSet better?
Neither clearly leads. Bloomberg Terminal starts at On request and FactSet at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Bloomberg Terminal or FactSet?
Bloomberg Terminal starts at On request and FactSet at On request.
Does Bloomberg Terminal or FactSet run on more platforms?
Bloomberg Terminal runs on Windows, Web, iOS, Android, API. FactSet runs on Windows, Web, API.
What is Bloomberg Terminal best used for?
Bloomberg Terminal is most often used for real-time monitoring of prices, news and alerts across asset classes on a trading desk, communicating with counterparties and clients over instant bloomberg, fixed income and derivatives pricing and analytics, pulling market and fundamental data into excel models with the add-in or bql. Of those, real-time monitoring of prices, news and alerts across asset classes on a trading desk and communicating with counterparties and clients over instant bloomberg are not what FactSet is typically brought in for.
What can Bloomberg Terminal do that FactSet cannot?
Bloomberg Terminal covers Cross-asset market data and analytics, Bloomberg News and Bloomberg Intelligence, Instant Bloomberg (IB), Launchpad. FactSet covers FactSet Workstation, Universal Screening, Microsoft Office integration, Portfolio Analysis.

Answered from the vendors’ own pages

Bloomberg Terminal: How much does the Bloomberg Terminal cost?

Bloomberg does not publish a price. The product page directs prospective clients to request a demo, and the subscription is quoted by Bloomberg's sales team.

Source
FactSet: How much does FactSet cost?

FactSet does not publish prices. Its FAQ says the cost varies with your use case and the specific products and services you need, and quotes and trials are arranged through the sales team.

Source
Bloomberg Terminal: Does the Bloomberg Terminal run on a Mac?

Not as a native install. Bloomberg's FAQ says the Terminal software is not available for native installation on Mac platforms; Mac users with a Bloomberg Anywhere subscription can access it through a web browser.

Source
FactSet: Does FactSet have an Excel add-in?

Yes. FactSet's Office tools create auditable, refreshable links to FactSet content in Excel, Word, PowerPoint and Outlook. The FAQ notes the Excel add-in is typically part of a broader subscription.

Source
Bloomberg Terminal: What is Bloomberg Anywhere?

The remote access subscription that lets a user connect to the Terminal from a PC, the office, home or mobile devices, including through the Bloomberg Professional app.

Source
FactSet: What are the system requirements for FactSet Workstation?

The installed Workstation and Office add-ins are a single MSI installer for Windows desktop and server operating systems. FactSet recommends 16 GB or more of memory, Windows 11 64-bit and Office 2016 or Microsoft 365, and upgrading the base installation every 12 months.

Source
Bloomberg Terminal: What is Instant Bloomberg?

The Terminal's messaging service. It supports persistent chat rooms, tabs and folders, structured data that links to other Terminal functions, and IB Connect for adding proprietary chatbots to chats.

Source
FactSet: Can FactSet data be delivered to Snowflake?

Yes. Standard DataFeed content can be delivered as Snowflake data shares, with each feed appearing as a schema with tables. Benchmark DataFeeds are customised per client and take several days to a week to design.

Source
Bloomberg Terminal: Can Bloomberg data be used in Excel or Python?

Yes. Bloomberg provides Office add-ins for Excel, Bloomberg Query Language, BQuant Desktop and the BLPAPI programming interfaces. ASKB also returns the BQL behind its answers so the analysis can be extended in Excel or BQuant.

Source
FactSet: What is the FactSet Portfolio Analytics MCP?

A Model Context Protocol server, announced as a limited release on 26 June 2026, that lets buy-side firms query governed performance, attribution and risk outputs from FactSet inside their own AI environments.

Source
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