LSEG Workspace pricing: LSEG Workspace cost per user, Reuters terminal cost, and Refinitiv Eikon price
Most pages that rank for this search say LSEG Workspace costs about $22,000 per user a year and cite nobody. LSEG publishes no price, but it is listed in London and reports what its Workspace business earns, and in its 2025 annual report it says how many people it moved onto Workspace when it retired Eikon. Divide one by the other and the average user brings in about $7,500 a year, roughly a third of the figure in circulation.
- 1 THESIS
- 2 EVIDENCE
- 3 BACKTEST
- 4 RISK
- 5 VERDICT
02 EVIDENCE · FUNDAMENTALS
04 RISK · IN PLAIN ENGLISH
Sample scenarios, not a live backtest of what you typed. Past performance does not guarantee future results. Educational analysis only, not financial advice.
In short
LSEG publishes no Workspace price. What it does publish is the revenue of Workflows, the business line built around Workspace: £1,925 million in 2025 and £980 million in the first half of 2026. Its 2025 annual report says it retired the Eikon desktop and moved around 350,000 users to Workspace. Converted at LSEG's own average exchange rates, that is about $7,249 of revenue per user in 2025 and $7,532 annualized for the first half of 2026, around $628 a month. LSEG says a fifth of Workflows revenue is not desktop revenue at all, so the desktop average is nearer $6,000. The $22,000 figure most sites repeat is roughly twelve months at the top of a range reported for Eikon in 2013. Seat prices vary widely by user type, and LSEG says trading users pay the most. AgentTrading is not a Workspace competitor. It is a research and backtesting tool starting at $19 a month, bought online, with no execution, no brokerage connection and no personalized advice.
Past performance does not guarantee future results. For educational and informational purposes only. Not financial advice. Consult a licensed advisor.
SIDE BY SIDE - PRICING CHECKED SEPTEMBER 17, 2026
What LSEG sells to a firm, what has actually been put in writing about its price, and which alternatives will tell you a number before a sales call
The first two cards are LSEG's own desktop, today and as it was. The rest are the platforms a firm weighs against a Workspace seat, sorted by whether you can find out what they cost without booking a call.
| Tool | Best for | Price (September 17, 2026) | The honest limitation |
|---|---|---|---|
| LSEG Workspace | Trading desks, investment banks, asset managers and wealth firms that need LSEG news, pricing and reference data, FX and fixed income depth, and Microsoft 365 integration on one desktop | Not published. Revenue per user from LSEG's own reports: about $7,532 a year annualized for the first half of 2026, and about $6,026 for desktop revenue alone | The product page carries no dollar amount anywhere: zero dollar signs across about 7,900 rendered characters on September 17, 2026. TrustRadius states Workspace does not currently have any pricing plans listed. |
| Refinitiv Eikon, and the Reuters terminal before it | Nobody today. Eikon was LSEG's legacy desktop, originally launched by Thomson Reuters in 2010 | Retired. LSEG says it retired the Eikon desktop in 2025 and moved around 350,000 users to Workspace. The last dated price range, from 2013 press reporting, was $300 to $1,800 a month | Any page that prices Eikon tiers today is pricing a product that can no longer be bought. |
| Bloomberg Terminal | Real-time cross-asset data, fixed income and derivatives analytics, Bloomberg News, and the messaging network that most of the sell side lives on | Not published. Procurement data puts a seat at $24,000 to $27,000 a year, and post-increase cost-tracker figures reach $31,980 for a single terminal | Bloomberg is private and files nothing, so no public figure for a Terminal can be checked against an audited number. |
| FactSet | Portfolio analytics, risk models, estimates and an Excel and API pipeline into a firm's own models | Not published. FactSet's own filings cap the average user at $10,027 of annual subscription value at May 31, 2026. Vendr median contract $25,160 a year | Modular: the workstation is a base and estimates, analytics, feeds and API access are licensed on top, which is why quotes for the same headcount scatter. |
| Morningstar Direct | Asset and wealth managers doing fund and manager research, product positioning and model portfolio construction | Not published today. Last rate card, 10-K for 2017: $18,000 first user, $11,500 second, $9,800 each additional. Audited average revenue per license $17,209 annualized at June 30, 2026 | A fund and manager research platform, not a real-time trading desktop, so it replaces the investment management half of Workspace at most. |
| Koyfin Advisor Core | A small firm whose Workspace use is charts, screening, fundamentals, macro and client reporting rather than trading | $209 a month billed annually, $2,508 a year. Advisor Pro $299 a month. Re-read at source September 10, 2026 | No real-time institutional depth, no news wire, no FX or fixed income trading tools, and no backtesting at any tier. |
| AgentTrading | Testing whether a specific, stateable rule has actually worked, which is not what a Workspace seat is bought for | Starter $19 a month, Analyst $49, Pro $129 | Not a market data terminal: no real-time feed, no news wire, no FX or bond trading tools, no messaging, no estimates database. |
Prices are the vendors' public list prices, checked September 17, 2026, and vendors change them. Verify current pricing and capabilities with each vendor before you buy.
LSEG Workspace
Trading desks, investment banks, asset managers and wealth firms that need LSEG news, pricing and reference data, FX and fixed income depth, and Microsoft 365 integration on one desktop
Priced by user type, and LSEG is explicit that trading users pay the most and wealth and academic users the least. Two AI features change the renewal: AI Search, which LSEG says had 17,000 active users by July 2026, is included but subject to a fair use limit on prompts per month with usage charges above it, and its value will be reflected in the annual price review; Deep Research, with 7,000 users, is being positioned as a premium add-on with usage-linked tiers. Ask for both in writing. LSEG's own revenue retention rate across its subscription businesses was 92.8% at June 2026, and annual subscription value was growing 6.1%.
Refinitiv Eikon, and the Reuters terminal before it
Nobody today. Eikon was LSEG's legacy desktop, originally launched by Thomson Reuters in 2010
Searches for a Reuters terminal or an Eikon price are still common, and the pages answering them are the most out of date in the category. One cost site lists Eikon Web at $300 per user per year, Eikon Desktop Standard at $1,250 and Premium at $1,830. Set against the 2013 reporting of $300 to $1,800 a month, those look like monthly figures labeled as annual, which would understate the price twelvefold. The other common figure, $22,000 a year, is within $400 of twelve months at the top of that 2013 range. Neither describes what a Workspace seat costs in 2026.
Bloomberg Terminal
Real-time cross-asset data, fixed income and derivatives analytics, Bloomberg News, and the messaging network that most of the sell side lives on
The comparison most firms are really making. On the averages, a Workspace user brings LSEG less than a third of what a Bloomberg seat is quoted at, but the LSEG average includes cheaper wealth and academic seats, so a like-for-like trading seat is closer than the averages suggest. The one thing Workspace cannot replace is the Bloomberg messaging network, because its value is who else is on it.
FactSet
Portfolio analytics, risk models, estimates and an Excel and API pipeline into a firm's own models
The other vendor whose average can be checked. FactSet's per-user figure and LSEG's are close, about $10,000 against about $7,500, and both are dragged down by fast-growing cheaper seats, wealth management in FactSet's case and wealth and academia in LSEG's. For a buy-side research seat the two are closer competitors than their marketing suggests.
Morningstar Direct
Asset and wealth managers doing fund and manager research, product positioning and model portfolio construction
Morningstar names LSEG's Eikon as a Direct competitor in its own 10-K. Its per-license average is more than twice LSEG's per-user average, because Direct is sold almost entirely to professional investment teams, while LSEG's base includes large numbers of cheaper seats.
Koyfin Advisor Core
A small firm whose Workspace use is charts, screening, fundamentals, macro and client reporting rather than trading
Included because it is the cheapest platform on this page that publishes every tier, on both billing terms, without a call. At $2,508 a year it is about a third of the average LSEG desktop user. Registered advisers should note the advisor features start at Advisor Core, not at the $39 Plus tier most roundups quote.
AgentTrading
Testing whether a specific, stateable rule has actually worked, which is not what a Workspace seat is bought for
The disqualifying facts go first, because they rule us out for most people pricing Workspace. What it does is narrow. You state a thesis in plain English, it restates that as an explicit rule and shows you the rule before anything runs, then tests it across 20-plus years of split and dividend adjusted daily data with a 0.1% cost per trade charged by default, plots the result against buy and hold, and gives a verdict that includes UNDERPERFORMED when the idea loses. Every plan is on the pricing page and starts online. Research and analysis only: no execution, no brokerage connection, no personalized advice.
Past performance does not guarantee future results. For educational and informational purposes only. Not financial advice. Consult a licensed advisor.
THE PRICE LSEG WILL NOT PUBLISH, AND THE REVENUE IT HAS TO REPORT
LSEG Workflows revenue, Workspace users and revenue per user, from LSEG's own annual and interim reports
The second and third columns are LSEG's own figures. The fourth is arithmetic on them and nothing else. LSEG reports in pounds, so every dollar figure uses the average GBP to USD rate LSEG itself states for that period: 1.318 for 2025 and 1.345 for the first half of 2026. Read the per-user column as average revenue per user, not a rate card: it spreads every kind of seat, from a university terminal to an FX trading desk, across one number.
| Period and source | Workflows revenue as reported | Users | Revenue per user, derived | What the same source says about price |
|---|---|---|---|---|
| 2013, press reporting cited on Wikipedia's Eikon page | Not applicable | Not reported | $300 to $1,800 a month, about $800 a month for an average setup. That is $3,600 to $21,600 a year, $9,600 on average | The only published price range for Eikon that any ranking page traces to a dated source. Twelve months at the top of it is $21,600 |
| 2024, LSEG Annual Report 2025, restated comparative | £1,899 million, about $2,427 million at the 2024 average rate of 1.278 | Not disclosed. Eikon and Workspace both still running | Not computable | No price disclosed |
| 2025, LSEG Annual Report 2025 | £1,925 million, about $2,537 million. Organic growth 3.1% | Around 350,000, the number LSEG says it moved from Eikon to Workspace when it retired Eikon in 2025 | $7,249 a year, $604 a month. £5,500 in sterling | Growth was partly offset by contract optimisation following the UBS and Credit Suisse merger, which is a bank cutting seats |
| 2025, adding every pound of the division's pass-through recoveries | £1,925 million plus £360 million of recoveries for the whole Data and Analytics division, about $3,012 million | Around 350,000 | $8,605 a year, $717 a month | Recoveries are third-party fees such as exchange charges that LSEG passes through. This row is a deliberate overstatement, the most that could be attributed to a user |
| First half of 2026, LSEG Interim Report | £980 million, £491 million in the first quarter and £489 million in the second. £1,960 million annualized, about $2,636 million | Around 350,000. No newer count published | $7,532 a year, $628 a month. £5,600 in sterling | AI Search value will be reflected in the annual price review up to certain usage levels, with additional charges above them. AI Deep Research will be a premium add-on |
| First half of 2026, desktop revenue only | 80% of Workflows, because LSEG says 20% is non-desktop trading revenue. About £1,568 million annualized, $2,109 million | Around 350,000 | $6,026 a year, $502 a month | Desktop pricing has a very wide range depending on user type. LSEG ranks the annual charge from wealth and academia, the lowest, through investment banking and consulting, to trading, the highest |
| The figure most ranking pages quote | $22,000 a user times 350,000 users would be $7.7 billion, about £5,842 million | Around 350,000 | $22,000 a year | That is three times what Workflows reported, and more than the entire Data and Analytics division reported for 2025, £4,338 million including every pass-through recovery |
| AgentTrading, this site, for comparison | Starter $19 a month, Analyst $49, Pro $129, on the pricing page and bought online | Not applicable | Not applicable | Every plan and every price is public and can be bought without a call |
Three things come out of this table that no page quoting a Workspace price mentions. The first is scale. If the average Workspace user paid the $22,000 that circulates, LSEG would be reporting more revenue from Workspace than it reports for its whole data division, feeds, analytics and pass-through exchange fees included. The real average is about a third of that. The second is who pays what. LSEG says around 70% of Workflows revenue is tied to trading, and that trading users carry the highest annual charge, while wealth, academic, banking and investment management users sit lower. A buy-side analyst or an advisory firm is on the cheaper side of an average that is already about $6,000 for the desktop alone. The $22,000 figure is a plausible price for a loaded trading seat, not for a research seat. The third is direction. LSEG has told investors that AI Search goes into the annual price review and that Deep Research will be sold as a premium add-on, so the renewal is where the price moves, and it is the line to negotiate.
Sources: London Stock Exchange Group plc Annual Report 2025, including the Data and Analytics divisional review, the financial review and the table of average exchange rates; the LSEG Interim Report for the six months to June 30, 2026, published July 30, 2026, including the quarterly revenue table; the H1 2026 results presentation, including the slides on Workflows revenue composition and desktop pricing by user type; and the H1 2026 analyst call transcript. All read at lseg.com on September 17, 2026. The user count is LSEG's own rounded figure for the migration and may not equal every Workspace user; if there are more users, the true average is lower. The revenue-per-user column is our arithmetic on LSEG's figures, not a figure LSEG publishes, and LSEG discloses no average contract value or per-user price. None of this is a quote, and a price LSEG gives you supersedes everything here. Past performance does not guarantee future results. For educational and informational purposes only. Not financial advice. Consult a licensed advisor.
WHAT YOU GET - LSEG WORKSPACE PRICING
LSEG Workspace pricing, run on the bench
The $22,000 figure would make Workspace bigger than LSEG's whole data division
At $22,000 for each of the around 350,000 users LSEG moved to Workspace, Workspace would bring in about $7.7 billion a year. LSEG reported £1,925 million of Workflows revenue for 2025, about $2.5 billion, and £4,338 million for the entire Data and Analytics division including pass-through fees. The average user brings in about $7,500, and about $6,000 once non-desktop revenue is taken out.
LSEG says who pays the most, and it is not the research seat
LSEG's own results presentation ranks the annual charge per user from wealth and academia, the lowest, through investment banking and consulting, to trading, the highest, and says around 70% of Workflows revenue is linked to trading. A research analyst or an advisory firm is buying on the cheaper side of an average. Price your seat against that, not against a trading-desk figure.
The renewal is where the price moves
LSEG told investors in July 2026 that the value of AI Search will be reflected in the annual price review, with charges above a fair use level, and that Deep Research will be a premium add-on. Its subscription businesses were growing annual subscription value 6.1%. Ask for the renewal uplift, the AI Search fair use limit and the Deep Research price before you sign.
Where we lose, stated plainly
AgentTrading is not a Workspace competitor and does not replace a market data terminal, a news wire, FX and fixed income tools or a messaging network. What we do is test one idea you can state in a sentence against 20-plus years of adjusted daily history, with costs charged, and tell you honestly whether it held up.
HOW IT WORKS - 4 STEPS
From a sentence to a stamped verdict
Work out which user type you are
LSEG prices Workspace by user type, and it says the range is very wide. A trader with real-time, execution-linked workflows is the highest-value user. An investment banker or consultant sits in the middle. A wealth manager, a buy-side analyst doing research or an academic user sits lower. Know which one your seat is before you compare a quote with anything on this page, because the average spans all of them.
Anchor to the audited average, then adjust for your seat
LSEG's own figures put average Workflows revenue at about $7,500 per user a year, and about $6,000 for desktop revenue alone. A research or advisory seat should come in at or below that, and a trading seat with full real-time entitlements above it. Exchange fees are extra, since LSEG passes those through separately, so ask for them as their own line.
Get the AI terms in writing
LSEG says AI Search is included but capped by a fair use limit on prompts per month, with usage-based charges above it, and that its value will be reflected in the annual price review. Deep Research is a premium add-on with usage-linked tiers. Ask what the fair use limit is, what the overage rate is, and whether the renewal uplift is capped.
Price what the seat does not do before you sign
A Workspace seat tells you what the market is doing and what LSEG knows about a security. It does not tell you whether a rule you want to follow has worked across two decades of daily data. That is a separate tool and a separate line item. List it, cost it, and then decide how much of the research budget the seat should take.
Past performance does not guarantee future results. For educational and informational purposes only. Not financial advice. Consult a licensed advisor.
On the same bench
LSEG is the third terminal vendor whose silence can be checked against an audited document. FactSet cost divides FactSet's filed subscription value by its filed user count, and Morningstar Direct cost does the same with Morningstar's Direct revenue and license count and traces the figure everyone quotes back to a 2016 rate card. The vendors that file nothing are covered too: Bloomberg Terminal cost explains why the public figures for a Terminal disagree by about $8,000 a seat, Bloomberg Anywhere subscription cost works through the two ways Bloomberg counts a license, and Capital IQ cost rebuilds a per-user figure from the few real contracts that are public. If you are choosing between several of these, FactSet competitors and what each costs per seat lines them up on one table. If the reason you are pricing Workspace is a research workflow at a registered firm, investment research software and Bloomberg Terminal alternative for financial advisors price each option at the tier a firm is allowed to buy, and the testing step none of these platforms covers is on backtesting software for financial advisors. The whole category, from $19 a month to a six-figure contract, is sorted in how much stock analysis software costs.
QUESTIONS - ASKED AND ANSWERED
LSEG Workspace pricing: the common questions
How much does LSEG Workspace cost?
LSEG does not publish a Workspace price. Its own reports put average Workflows revenue, the business line built around Workspace, at about $7,532 per user a year annualized for the first half of 2026, around $628 a month, on £980 million of revenue and around 350,000 users. LSEG says trading users pay the most and wealth and academic users the least, so a research seat will usually cost less than a trading seat.
How much does a Reuters terminal cost?
The Reuters terminal is now LSEG Workspace. Thomson Reuters launched Eikon in 2010, it became part of Refinitiv and then LSEG, and LSEG retired the Eikon desktop in 2025 and moved around 350,000 users to Workspace. LSEG publishes no price, but its reported revenue works out to about $7,500 per user a year. The last dated public range for Eikon, from 2013, was $300 to $1,800 a month.
How much does Refinitiv Eikon cost per year?
Refinitiv Eikon can no longer be bought: LSEG retired it in 2025 and moved its users to Workspace. The last dated public range, from 2013 press reporting, was $300 to $1,800 a month, or $3,600 to $21,600 a year, with an average setup near $800 a month. Pages listing Eikon tiers at $300 to $1,830 per user per year appear to be quoting monthly figures as annual ones.
Is Refinitiv Eikon still available?
No. LSEG's 2025 annual report says it completed the retirement of the Eikon desktop during 2025 and transitioned around 350,000 users to LSEG Workspace, which it now describes as the central hub for trading, banking and investment workflows. LSEG's own glossary defines Eikon as Refinitiv's legacy financial desktop solution replaced by Workspace. Any price list for Eikon tiers describes a product that is no longer sold.
Is LSEG Workspace cheaper than Bloomberg?
On average, yes, by a wide margin. LSEG's reported revenue works out to about $7,500 per Workspace user a year, while Bloomberg Terminal seats are quoted at $24,000 to $32,000 a year. The gap is smaller than those numbers suggest for a trading seat, because LSEG's average includes cheaper wealth and academic users, and Bloomberg's messaging network has no equivalent at any price.
How much does LSEG Workspace cost per month?
There is no published monthly plan, and Workspace is sold on annual contracts. On LSEG's own figures the average user brings in about $628 a month, or about $502 a month counting desktop revenue only. A trading seat with full real-time data will cost more than that and a research or wealth seat less, and exchange fees are passed through on top.
Does LSEG Workspace charge extra for AI?
Partly. LSEG said in July 2026 that AI Search is included in the Workspace subscription, with its value reflected in the annual price review, but subject to a fair use policy on prompts per month with usage-based charges above that. AI Deep Research is being positioned as a premium add-on with usage-linked tiers. Ask for the fair use limit and the Deep Research price in writing before renewing.
Why do the published LSEG Workspace prices disagree so much?
Because nobody publishing them has a source. The $22,000 figure matches twelve months at the top of a 2013 Eikon range, one cost site lists Eikon tiers at $300 to $1,830 a year, and one procurement marketplace shows a median LSEG contract of $4,752 a year while quoting $1,500 to $3,000 per user per month on the same page. LSEG's own revenue per user, about $7,500, is the only figure tied to an audited number.
Is LSEG Workspace worth it for a small investment firm?
It depends on what you trade. If the job needs FX, fixed income, real-time news and data in one place, Workspace is one of two or three serious options and a seat earns its money. If the job is equity research, screening, fundamentals and client reporting, platforms that publish their prices cover it for $2,500 to $6,000 a year. Price the screens you open every day, not the platform.
Past performance does not guarantee future results. For educational and informational purposes only. Not financial advice. Consult a licensed advisor.
Your next idea deserves a verdict, not a hunch.
Bring a thesis or a ticker. AgentTrading restates the rule, shows the evidence, runs 20+ years of history, and stamps an honest verdict. You decide.
Past performance does not guarantee future results. For educational and informational purposes only. Not financial advice. Consult a licensed advisor.