My company has Bloomberg terminal, but I've heard I shouldn't import any batch of data into Excel using BLP plugin, because it is pricey. They told me that some time ago somebody did this and they paid $ 200 000 invoice. I can only check prices one by one using BBG app. Is this really true?
You should double check this with your Bloomberg rep, but here's the explanation I received from them: The limits are per request per ticker, so a single BDP request for one data point is the same as a BDH request downloading 5y of data. i.e. if you want lots of data with matching dates, never use a date/ticker grid with n*m BDH requests - that will definitely hit your limits. I've been downloading lots of bbg data while keeping this in mind and never ran into any problems, including 1min data for hundreds of tickers at a time.
I think number of tickers is a monthly limit and number of data points is a daily limit. If you hit the number of tickers your API is cut off for the rest of the month, if you hit number of data points you're cut off for rest of the day. However you can get these reset once if you ask nicely but they don't want you downloading a lot of data and they won't disclose the exact limits otherwise people will work around it. Also your data is not allowed to leave the terminal. However if you have a Factset account you can download what you like and do what you like with it.
Bloomberg provides different types of licenses for different use cases (terminal, b-pipe, sapi, data license). If you have a terminal, the daily limit is 600K requests: # requests = # tickers x # fields x # (bdp,bdh,bds) formulas (i.e. bdh('AAPL US Equity','px_last','1/1/2000','1/1/2016' is one request). If you hit your daily or monthly limit, then your api will be blocked - if you try to retrieve more data you will get an error that you reached your limit. Bloomberg allows you to reset your limit once or twice per month. If you consistently hit your limit your sales rep will contact you trying to sell you a pay-per-use license. So, as long as you use terminal there is no way to be overcharged. Now, if you have sapi or another license which is pay-per-use it is possible to exceed original limits (bloomberg will not block you for retrieving more data) and be charged later for it.