With stock trading becoming ever more popular amongst the proletariat, it’s important for “the people” to know just where to put their money and when to buy. In fact, a recent study conducted by the SEC reports that 70% of traders lose money every quarter. I don’t know about you, but I find that statistic staggering: after all, isn’t stock trading supposed to be lucrative? A means to achieve a better life?

The “app-ification” of investing has made it easier than ever to start investing from home and many laud the fact that we no longer require a financial advisor to help us with our portfolios, but we are missing out on a lot of knowledge and expertise nowadays. That’s why it’s so important to have the right tools in order to slash your chances of taking a loss.

That’s exactly where platforms like Benzinga Pro and Trade Ideas really shine. Modest Money’s comparison article of the two notes that they “are premium trading tools that promise exceptional value for the money,” though “neither of [them] are cheap.” Both actually run users more than $99 per month, so it’s best to know exactly what you are getting out of these trading tools.

The consensus amongst insiders is that Benzinga Pro functions as a hub for market news and that Trade Ideas feels more like an advanced, customizable stock screener that allows one to chart the events of the trading day. Yet, the right tool ultimately depends on your style of investing.

Let’s take a closer look at the features these two respective platforms sport, noting the benefits and drawbacks of both.

Benzinga Pro – Empowering the Modern Investor

Benzinga Pro was launched back in 2010 by founder Jason Raznick. At the forefront of a new wave of investor sentiments, Benzinga Pro is the modern investor’s hub for information about markets national and international – gain access to company news, financial releases, and even juicy gossip in the way of quasi-substantiated rumors.

Benzinga Pro disseminates news in real time, and its novel “squawk box” feature makes sure that you never miss an update. Review outlets the internet over praise Benzinga Pro’s quantity and quality of news and releases – it really does seem like the one-stop solution to information gathering.

Benzinga Pro Features

• News Feed: the Benzinga Pro news feed looks standard at first glance, but don’t let that fool you. Benzinga employs its own dedicated news team who strives to bring users only the most critical and pertinent news. This means investors are only subject to information that matters.
• News Filters: some of the leading news filters available on Benzinga Pro include Topline results, PreMarket, Benzinga After Hours, Reverse Stock Split, and FDA Approval.
• Corporate Calendar: Benzinga Pro’s corporate calendar helps you keep track of specific events, announcements, and general happenings of the companies you covet most. This calendar allows you to keep track of scheduled events and quarterly results.
• Stock Screener: while Benzinga Pro’s stock screener is relatively simple, it packs a lot of power when combined with the service’s news feed. You can find the biggest winners and the saddest losers in the midst of breaking news stories.

Trade Ideas – Technical Analysis Done Right

The innovative brain trust of Dan Mirkin, David Aferiat, and Philip Smolen founded Trade Ideas for the sole purpose of meeting the needs of retail investors in a changing, fast-paced market. With stock trading becoming ever more popular, it became obvious that the average joe needed the tools horded by professionals: namely, different scanning options.

Trade Ideas is a suite of different scans and learning tools. With advanced scans not found on comparable platforms like Benzinga Pro, plus a live chat room brimming with the like-minded, Trade Ideas gives its users everything needed to succeed in intra-day trading.

Trade Ideas Features

• Charts: Trade Ideas is packed full of charts. Depending on your subscription level, you may be able to have up to twenty charts running simultaneously, giving you a kind of bird’s eye view of the world’s markets. What’s more, you can add price alerts directly onto the charts.
• Stock Scans: considered the bread and butter of Trade Ideas’ enterprise, their stock scanner features both customizable and pre-built options, and it easy enough to use for newbies to get started immediately. Customizing your scans will always yield better results, but the pre-built scans like 1-2-3 Patterns should see your investments giving better returns.
• The Oddsmaker: this novel plugin is only available to premium users of Trade Ideas, but it allows users to back-test their strategies and quantify the results in an objective fashion.
• Chat Room: this may sound like a throwback to the days of mIRC, but the Trade Ideas chat room feature gives you a place to learn and sound off. Bustling and lively, you will find newbie traders and grizzled veterans alike inhabiting this virtual space.

Benzinga Pro vs. Trade Ideas – The Bottom Line

Benzinga Pro vs. Trade Ideas is atypical of most comparison posts. While these two platforms share some similarities, the fact is they are markedly different.

If you are looking for a powerful and moderately priced stock screener, Trade Ideas is the clear winner. It has all the features that most, if not all, investors will need in their quest to amass fortunes. On the other hand, Benzinga Pro lacks rivals when it comes to their technical analyses.

Grab Benzinga Pro today to immerse yourself in insider news, or Trade Ideas to start making better and safer intra-day trades.