Stock trading has skyrocketed in popularity in the United States. With billions of dollars in trading volume every day, the market has become a hub for retail investors. But the sad truth is that many retail investors will ultimately lose money due to a lack of research and knowledge.
The solution? Like many of the problems we face, technology is the answer. And one game changing technology in particular: stock screeners. These powerful tools can sift through thousands of stocks, identifying the ones that meet your specific criteria and investment strategy in mere seconds.
With more experience, you can refine your choices even further, identifying only the very best investment opportunities. So let’s take a look at the top stock screeners available today. It should be noted that this article will cover the basics, for a more in depth breakdown, read the best stock screeners.
Best Stock Screeners: The Top 4
Trade Ideas is a top choice for day traders who need lightning-fast access to real-time data. Founded in 2003, Trade Ideas uses customized server-based technology to track every single stock and ETF traded, providing traders with a competitive edge.
The platform uses AI and machine learning to scan through thousands of opportunities in technical, fundamental, and social data to quickly find those with the most substantial upside potential.
Trade Ideas offers pre-configured layouts to start with, but experienced traders can customize their screens with their own criteria. The platform also has leading edge back testing and automated trading features with multiple filters. Traders also have access to a live trading room, real-time streaming trade ideas, and simultaneous charts.
While the platform’s monthly fees are high, starting at $118 without AI technology and $228 with AI technology, the investment may be worthwhile for traders seeking an edge. Trade Ideas also offers a third, baseline option called TI Strength Alerts for $17 a month that provides five new trade ideas every Sunday.
TradingView is a comprehensive stock screener that provides a vast array of screening options for a broad range of securities, including stocks, ETFs, cryptocurrencies, and Forex.
With over 150 technical and fundamental filters, TradingView allows traders to screen stocks with precision and accuracy. The platform’s charting and visualization tools are powered by advanced HTML5 technology, making it easy for users to compare and contrast different stocks and ETFs.
One of TradingView’s strengths is its expansive range of international stocks and funds from over 130 global exchanges. It also offers a chat room where traders from around the world can share ideas and strategies.
TradingView is one of the most powerful stock screeners available. Its drawbacks are that it has limited brokerage support and expensive premium tiers. Traders can start screening stocks and ETFs for free, and the paid plans start at $14.95 a month and go up to $59.95, all of which come with a 30-day free trial.
With Benzinga Pro, users can create their own workspaces and set in-depth screener settings. One of the standout features of the platform is its keyword filters, allowing users to set filters like “FDA approval” or “stock split” to receive alerts when relevant news is released.
The platform offers a real-time stock scanner that allows users to filter for data including price, market cap, volume, float, and short interest. It also offers preset filters, such as Real-Time After-Hours Gainers and Mid-Cap Movers From Open, to give traders an edge.
Benzinga Pro provides access to news and analysis from Benzinga.com, which delivers breaking financial news, stock analysis, and updates on ratings from Wall Street equity researchers. Depending on the plan, other features include stock signals, a community chat, and even trading mentorship and education from a leading options trader.
The main disadvantage of Benzina Pro is that the squawk box feature is not available 24/7, and the platform only includes equities.
Benzinga Pro offers three plans: Basic, Essential, and Premium. Basic costs $27 per month, Essential costs $177 per month or $1,404 per year if billed annually, and Premium offers the most complete access to Benzinga Pro’s powerful tools.
TrendSpider is an intelligent trading software designed for automated technical analysis, making it a powerful tool for investors. The platform’s market scanner generates dynamic watchlists based on technical criteria, providing traders with flexible scans to discover their trade setup.
TrendSpider offers 20 built-in scans that can also be used as the source for backtests and pattern recognition analysis. The platform can search in any timeframe from one minute to one month, making it highly versatile.
One unique feature of TrendSpider is its multi-timeframe analysis, which allows traders to combine multiple timeframes on a single chart. The platform also offers several pre-built scanners.
The platform comes with a charting and analysis package, a dynamic alert system, and access to financial statements. Other newly added features include dark pool trading data, crypto fear & greed data, price seasonality, and integrated Benzinga News.
The platform continuously improves its features and services, providing traders with a powerful tool that can enhance their trading strategies. Additionally, TrendSpider offers free educational resources through its TrendSpider University and Trading Pit Show. However, the free market data provided by the platform is near-time and not real-time, which could be a limitation for some traders.
TrendSpider offers three subscription plans: Premium, Elite, and Advanced. While all subscriptions include a backtesting engine, only Elite and Advanced have intraday scanning and multi-factor alerts. The plans differ in the number of results per scan, workspaces, and alerts, among other features.
Stock screeners are an essential tool for day traders and investors who want to stay ahead of the curve in the stock market. With so many options available, it’s important to choose a screener that fits your specific needs, investment strategy, and budget.
Each of the top four stock screeners we have reviewed in this article offers unique features and benefits. Ultimately, the choice of which screener to use will depend on your individual needs and preferences.
Remember, stock screeners are just one weapon in a trader’s arsenal, and should be used in conjunction with other research resources such as investment newsletters and stock research websites. By combining the power of these tools, investors can make more informed decisions and stay ahead of the game in the fast-paced world of the stock market.