45 · Competitor Audit (May 2026)

Status: research dossier · author: positioning team · date: 2026-05-17

Scope: insider-trades and disclosure-analytics platforms competing for the same attention/wallet as Insiders Trades Sigma. Goal: validate that Sigma's positioning (multi-market, transparent score, walk-forward backtest, public API, MCP) and current pricing (Free / Pro 19 EUR / Quant 99 EUR) are competitive in 2026.

Method: WebSearch + WebFetch on each vendor's pricing/marketing page in May 2026. Where pricing was not publicly disclosed, we mark "publicly undisclosed" rather than guess. No fabricated numbers.

1. Snapshot table (audited 2026-05-17)

Vendor	Coverage	Filing types	Public API	MCP	Free quota	Price (entry)	Price (mid)	Price (enterprise)	Sources
OpenInsider	US only	SEC Form 4	No (CSV export only)	No	Unlimited web read	Free	Free	n/a	http://openinsider.com/, https://www.findmymoat.com/tools/openinsider
WhaleWisdom	US	13F + 13D/G + Form 4	Paid add-on	No	5 funds, 2y history	Free	90 USD / quarter (Standard) · 150 USD / quarter (Pro)	Several k USD / yr (Enterprise)	https://whalewisdom.com/pricing, https://www.waterstechnology.com/data-management/2092634/whalewisdom-preps-api-13f-access-subscription-fees
TipRanks	US-centric, some intl	Insider buys (director+), analysts, news	No public quant API	No	Limited web	29.95 USD / mo (Premium, billed annually)	49.95 USD / mo (Ultimate, billed annually)	n/a public	https://www.tipranks.com/plans
GuruFocus	US + intl coverage	Form 4 + 13F + buybacks + politicians	"Guru API" add-on	No	Web preview	449-499 USD / yr (Premium)	1,398 USD / yr (Premium Plus)	Professional (publicly undisclosed)	https://www.gurufocus.com/pricing
Quiver Quantitative	US	Insider + congress + lobbying + altdata	Yes (REST)	No	7-30 day trial	25 USD / mo (web)	30 USD / mo (API Hobbyist) · 75 USD / mo (API Trader)	Commercial (publicly undisclosed)	https://www.quiverquant.com/, https://www.findmymoat.com/tools/quiver-quantitative
2iQ Research	60 countries · 60k tickers · 15y avg history	Insider transactions (global)	Yes (feed + REST)	No	Trial on request	Publicly undisclosed (institutional only)	Publicly undisclosed	Publicly undisclosed, redistributed via FactSet / WRDS / AWS Marketplace	https://www.2iqresearch.com/, https://www.factset.com/marketplace/catalog/product/2iq-global-insider-transaction-data
Capitol Trades (2iQ)	US politicians	Congressional trades (STOCK Act)	No official	No	Free web	Free	Free	n/a	https://www.capitoltrades.com/
InsiderScore · VerityData	US	Form 4 + buybacks + 13F + mgmt changes	Yes (REST + feeds)	No	1 week trial	Publicly undisclosed (target AUM 500M+ USD)	Publicly undisclosed	Publicly undisclosed	https://verityplatform.com/solution/veritydata/insiderscore/
Smart Insider	90 percent of global mkt cap · 55k tickers · since 1994	Insider + buybacks + director changes	Yes (FTP / API)	No	Sample on request	Publicly undisclosed (institutional only)	Publicly undisclosed	Publicly undisclosed	https://www.smartinsider.com/
Sentieo (AlphaSense)	Global, all filings · transcripts · notes	Filings + transcripts + research notes (not insider-specific)	Yes (paid)	No	n/a	Around 12,000 USD / seat / yr	Around 18,375 USD / seat / yr (median deal)	100,000+ USD / yr	https://www.g2.com/products/sentieo-by-alphasense/reviews, https://sacra.com/c/alphasense/
SEC EDGAR (raw Form 4 XML)	US	All SEC filings	Yes (free, rate-limited)	No	Unlimited polite	Free	Free	n/a	https://www.sec.gov/edgar

Notes:

2iQ, Smart Insider, InsiderScore, AlphaSense are all "call sales" pricing. Sigma should not pretend to match their data depth (15-25y history, 60+ countries with hand-curated normalisation) but should be honest about the price gap: 2iQ/Smart Insider start in the high four-figure / low five-figure USD/yr range based on third-party industry chatter and FactSet/WRDS redistribution patterns. We document them as "publicly undisclosed" because none publish a rate card.
Quiver Quant is the closest direct competitor on the indie-quant API axis. Their 25 USD/mo web tier and 30 USD/mo API hobbyist tier are the realistic price floor we are competing against. Our 19 EUR/mo Pro is cheaper and adds multi-market.
TipRanks is the consumer benchmark: 30 USD/mo Premium = roughly 28 EUR. Our 19 EUR Pro undercuts them and adds an API.

Coverage note (2026-05-17 verification): Sigma operates 15 live regulators in production (AMF, SEC, BaFin, SIX SER, RNS, SEDI, Consob, CNMV, AFM, FSMA, Oslo Børs, Nasdaq Helsinki, Nasdaq Copenhagen, ASX, FMA-NZ). Earlier drafts of this audit referenced 21 markets, that figure has been corrected throughout this document.

2. Feature deep-dive vs Sigma

Capability	Sigma (us)	OpenInsider	WhaleWisdom	TipRanks	Quiver	GuruFocus	2iQ	Smart Insider
Markets	EU + US + UK + CA + AU (15 live regulators, verified 2026-05-17)	US only	US only	US-centric	US only	US + some intl	60 countries	90 percent global cap
Filings live	162,615 (May 2026)	~daily Form 4	13F + Form 4 archive	n/a (consumer aggregate)	Insider + altdata	Form 4 since 2004	10M+ transactions	30y+ archive
Companies tracked	8,300	All US public	All US public	5,000+	1,800 US (Congress dataset)	All US + many intl	60,000	55,000
Score / signal	Composite 0-100, formula public	Sort by size/freq only	Whale-following heuristics	Smart Score (proprietary)	Proprietary	Double/Triple Buy screeners	Quant signals (institutional)	Predictive signals (institutional)
Backtest	Walk-forward, Bailey-LdP DSR, portfolio Sharpe, public	None	Basic 13F backtest	None for insiders	None public	None	Yes (institutional reports)	Yes (institutional reports)
Public REST API	Yes (Pro 10k req/mo, Quant 100k)	No	Paid add-on	No	Yes (30-75 USD/mo)	"Guru API" paid	Yes (institutional)	Yes (institutional)
MCP server (AI agents)	Yes	No	No	No	No	No	No	No
FX normalisation	Yes (multi-currency, EOD rates)	n/a (USD only)	USD only	USD primary	USD only	Partial	Yes	Yes
Honesty on stats	DSR + walk-forward + IS/OOS labelled	n/a	Limited	Marketing-grade Smart Score	Limited	Limited	Institutional disclosure	Institutional disclosure
History depth	5 years (since 2020)	20+ years	Since 2001	n/a	Since 2016	Since 2004	15 yr avg	Since 1994

3. Positioning insights (top 3)

MCP and multi-market are unique to Sigma in this peer set. None of OpenInsider, WhaleWisdom, TipRanks, Quiver, GuruFocus, 2iQ, Smart Insider, InsiderScore expose an MCP server. None of the consumer-priced tools (OpenInsider, TipRanks, Quiver, GuruFocus) cover 15 live regulators. This is the sentence we should put on every page: "the only insider-trades platform under 100 EUR / month that covers 15 live regulators and ships an MCP server".
Sigma's Pro tier (19 EUR/mo) undercuts the consumer price floor. Quiver web = 25 USD/mo, TipRanks Premium = 29.95 USD/mo, GuruFocus Premium = 449 USD/yr (37 USD/mo). Our 19 EUR/mo is the cheapest entry that includes an API. Keeping Pro at 19 EUR is strategically correct.
History is our honest weakness. 2iQ has 15y average history; Smart Insider goes back to 1994; OpenInsider has 20+ years of Form 4; GuruFocus has Form 4 since 2004. Sigma has 5 years (2020 onward). We must NEVER claim historical depth as a feature, and we should put the "5 years" number on pricing and compare pages so the comparison is honest.

4. SWOT

Strengths

15 live regulators, FX normalised, one schema. Nobody under 100 EUR / month has this.
Public formula score + walk-forward backtest + Bailey-LdP DSR + portfolio Sharpe = institutional-grade methodology rigour at indie-quant pricing.
Public REST API + MCP server. Quiver has REST but no MCP. Nobody else has MCP.
Cheaper than every paid peer in the consumer / prosumer segment.

Weaknesses

5 years of history vs 15-25y for institutional peers. Mention only when asked. Mitigation: surface "since 2020" in fine print on pricing.
No 13F coverage yet. WhaleWisdom and InsiderScore dominate that axis. We do not compete there for now.
No real-time intraday alpha (we ship T+0 to T+1 depending on regulator).
Stripe not wired. CTAs still "join waitlist".

Opportunities

AI-agent ergonomics (MCP) is a wedge nobody else has filled. Lean into Claude / ChatGPT / Cursor integration screenshots on /pricing and /compare.
EU regulatory complexity is a moat. AMF + BaFin + CONSOB + CNMV + AFM + Euronext etc. require local know-how. US vendors are unlikely to invest there for the same per-seat economics.
"Open methodology" can be a category-defining brand (cf. dbt for analytics engineering, Posthog for product analytics).

Threats

2iQ deciding to launch a consumer tier (they already operate Capitol Trades for free, so the muscle exists).
Bloomberg / FactSet quietly bundling insider analytics into existing seats.
TipRanks adding a real API.
Quiver expanding to EU markets.

5. Pricing recommendation

Keep 19 EUR Pro / 99 EUR Quant. Rationale:

19 EUR Pro sits below every paid peer with an API (Quiver hobbyist 30 USD, GuruFocus 37 USD/mo equivalent, TipRanks 30 USD). Lowering further (to 9 EUR) would dilute revenue without buying additional share against 0 EUR competitors (OpenInsider, EDGAR, Capitol Trades). Raising to 29 EUR removes the "cheapest API in the category" headline.
99 EUR Quant fills the gap between consumer (TipRanks 50 USD Ultimate) and institutional (2iQ / Smart Insider, undisclosed but several thousand USD / yr). 99 EUR/mo = ~1200 EUR/yr, deliberately one order of magnitude below institutional. This is the right spot for small RIAs and family offices.
Add an "Enterprise" line item on /pricing (contact sales) without a number, to signal we will quote for funds that need 5+ seats / SLA / custom schema.

Tier feature sharpening (apply on /pricing):

Free: explicit "15 live regulators, 7-day history, no API" line. Today's matrix is close. Add "15 live regulators" to the Free tier so the multi-market hook is visible even to non-paying visitors.
Pro: "15 live regulators, 5-year history, 10k API req / mo, 1 webhook, MCP read-only, 1 seat". Surface MCP explicitly.
Quant: "Everything in Pro, plus 100k API req, unlimited webhooks, bulk CSV
- Parquet exports, portfolio attribution, 5 seats". Surface walk-forward backtester + DSR as Quant-tier value.

Honest "vs" strip on /pricing:

Cheaper than TipRanks Premium (29.95 USD/mo, US only, no API).
Cheaper than Quiver Trader (75 USD/mo, US only, no MCP).
One order of magnitude below 2iQ / Smart Insider (institutional only).
Free tier is paid relative to OpenInsider, but adds 20 extra regulators.

6. /compare site map

/compare (index, comparative table) -> NEW
/compare/openinsider -> exists, keep
/compare/quiver-quant -> exists, keep
/compare/whalewisdom -> NEW
/compare/tipranks -> NEW
/compare/gurufocus -> NEW

Internal linking rule: each /compare/ back-links to /pricing/ and /methodologie/. /compare index links to /docs/ (API) and /methodologie/.

7. Sources (consolidated)