February 2023 | Written by the Day Trade Review Team
Advertising Disclosure
One of the most difficult parts of trading and investing is filtering out the noise so you can identify the best opportunities.
There are thousands of publicly traded stocks, and you only want to focus on the ones that can make you money.
This is where scanners (also known as “screeners) come in.
Scanners automatically comb through thousands of stocks to help you identify the best opportunities at any given moment.
Of course, not all scanners are created equal, so which ones are worth using?
Fortunately, we’ve done the research for you. Our team hasreviewed over 200 financial services. Below is a list of our top-rated stock scanners.
1. Trade Ideas
Best for Active Traders
4.4
Total Rating (out of 5)
Trade Ideas Review
- Features
- Charts
- Ease of Use
- Scanners
- Alerts
- Platform Differentiation
4.4
Summary
Trade Ideas is a standalone stock scanning tool that offers unique market scanners, advanced analysis tools, and artificial intelligence. Trade Ideas is arguably one of the top scanning tools available on the market right now.
Pros
Great pre-built scanners
Broad range of scan alerts
Color and symbol-coded results for easy analysis
AI scanning tools
Brokerage Plus feature enables automated trading
Hundreds of different scans and alerts available
Cons
Not available for Mac
Limited broker integrations
The Bottom Line
Trade Ideas is easily the best scanner for active traders who want to receive real-time trade alerts throughout the trading day.
Trade Ideas offers a combination of pre-built scanners and customizable scanners. The number of scan alerts/criteria is unrivaled by any other scanner.
Trade Ideas scans ensure you don’t miss out on any action during the trading day.
Additionally, the Brokerage Plus feature can be used to turn your scans into automated trading strategies.
2. Seeking Alpha
Best for Investors
4.1
Total Rating (out of 5)
Seeking Alpha Review
- Price
- Ease of Use
- News Quality
- Resources
4.1
Summary
Stock news and research platform, Seeking Alpha’s, goal is to give its users an easy way to watch their stocks. With features like unlimited portfolios, stock articles, strategies, and more is Seeking Alpha everything you want or is it too overwhelming? Read our in-depth review to find out.
Pros
Web-based screener is accessible and easy-to-use
Offers pre-built screeners
Dozens of filters for creating your own custom scans
Incorporates proprietary quant ratings metrics into scans
Multiple views for scan results
Integrated into Seeking Alpha for stock research
Affordableannual membership fee
Cons
Limited technical scan filters
Not ideal for active traders
The Bottom Line
Seeking Alpha is a stock research platform that offers a wealth of data and insights from independent analysts.
While Seeking Alpha isn’t famous for its screener, it’s on our list for a good reason.
Screeners serve as the starting point for trading/investing research, and Seeking Alpha is our #1 rated stock research tool.
The Seeking Alpha screener provides a great way to identify prime investment opportunities that can be researched further using the other tools in the platform.
3. Benzinga Pro
Best News Scanner
4.2
Total Rating (out of 5)
Benzinga Pro Review
- Newsfeed
- Platform
- Ease of Use
- Screener
- Features
- Value
4.2
Summary
Benzinga Pro is a real-time news streaming services packed with trade alerts, market screeners, audio alerts and much more. See how this stock market news platform compares to the competition.
Pros
Web-based screener is accessible and easy-to-use on any device
Platform is well-designed and well-organized
Includes audio squawk
Includes news from most top sources (including original news)
Includes earnings calendar and options order flow alerts
Cons
Limited quantitative scans
Price can be difficult to justify compared to platforms that include both news and data scanners
The Bottom Line
Benzinga Pro is a real-time news scanner that helps traders identify opportunities as new catalysts emerge.
The platform features news stories, from top publications, original content, options alerts, and more.
The audio squawk feature can be used to get audio news alerts throughout the trading day.
The platform is ideal for active traders who value having the “first mover advantage” on market-moving news stories.
4. FinViz
Best Free Scanner
4.2
Total Rating (out of 5)
FinViz Review
- Screeners
- Charts
- Value
- Features
- Ease of Use
4.2
Summary
FinViz is one of the top browser-based stock screeners, offering a variety of powerful market research tools. The site features powerful scanning tools, beautiful charts, and advanced technical analysis tools. Read the review to see how to make the most of FinViz
Pros
Over 50 scan filters
Good selection of technical and fundamental filters
Multiple views for scan results (including chart view)
Over 20 built-in scans
Offers a feature-rich free plan
Cons
Ads on free plans can get annoying
Not ideal for active traders
The Bottom Line
FinViz is a web-based market data and idea generation tool that is best known for its online screener.
FinViz offers a free web-based screener with over 50 filters that can be used to identify trading opportunities.
Scans can be created using both technical and fundamental criteria and the results can be viewed as either a table or in chart format.
While FinViz isn’t as powerful as desktop scanning platforms, the free screener is hard to beat.
More About Stock Scanners
How did you determine your top-rated scanners?
Our team has tested and reviewed hundreds of the most popular financial tools and services, including the most popular scanners.
When narrowing our list down to the best scanners, we considered:
- Which scanners have the best features
- Which scanners provide the best alerts
- Which scanners have the best filters
- Which scanners are easiest to use
- Which scanners help traders and investors identify the best opportunities
- Which scanners are the best value
Which scanner is best for me?
Every trader and investor has their own unique needs. When choosing a scanner, think about what you are trying to accomplish.
- Are you interested in technical setups or fundamental setups (i.e. value stocks)?
- Are you looking for long-term investments or intraday trade opportunities?
- What types of alerts are you looking for?
- What types of scan filters do you need?
Our top picks above can be summed up as follows:
- Trade Ideas is best for active day traders
- Seeking Alpha is best for swing traders and long-term investors
- Benzinga Pro is best for news-driven traders
- FinViz is best for swing traders who want a free scanner
What is a real-time scanner, and do I need one?
Real-time scanners (such as Trade Ideas) scan the market in real-time. These scanners are capable of providing intraday alerts, such as stocks setting new highs intraday.
Real-time scanners are essential for active traders who buy and sell stocks intraday.
Delayed scanners (such as Seeking Alpha and FinViz) are suitable for investors with longer-term time horizons.
Do I need to pay for a stock scanner?
There are both free and paid stock scanners available.
While free scanners may be suitable for casual investors, paid scanners offer far more features that will benefit serious traders and investors.
