Scanz claims they’ve constructed the premiere inventory discovery platform for merchants. However with this newly advanced subscription inventory scanning service’s commanding worth premium, everybody has only one query:
Is Scanz price it?
It’s by no means been simpler to develop into an investor. With all of the instruments, buying and selling platforms, apps, and investing websites, all you want is an hour or two to arrange an account and begin buying and selling. Being a profitable dealer, nonetheless, takes as a lot or extra effort because it all the time has. Hunches and sizzling suggestions aren’t sufficient to supply the type of returns it is advisable to go from dabbler to full-time day dealer anymore; you want some severe computational assist.
You want three issues to be a profitable dealer: info, timing, and luck. There aren’t any instruments or companies that may improve your luck—aside from voodoo, in fact—or assure well timed trades, however info is one other story.
There are tons of companies, web sites, and investing instruments on the market that promise to maintain you updated on the entire most essential information and information tales that may have an effect on your portfolio. A few of these assets are free, browser or app-based companies. Others are standalone packages that price as a lot as the typical cellphone invoice. All companies and instruments aren’t created equal, and determining which one is best for you generally is a laborious and probably costly course of.
One of many higher-end inventory scanners on the market involves us from Scanz, beforehand referred to as EquityFeed. Hold studying to seek out out extra about what Scanz does, how effectively it does it, and the way it stacks as much as the competitors.
Scanz payments itself as “the ‘multi function’ market scanning platform made for day merchants and swing merchants.” Their standalone software program platform combines customizable inventory scanners—each “Professional” and “Straightforward”—a information scanner, a “Breakouts” characteristic that delivers real-time buying and selling indicators, superior charting options, and entry to real-time Stage II information.
- Professional Scanner
- Straightforward Scanner
- Information Scanner
- Stage II information
Earlier than we get into the specifics, let’s check out Scanz’s pricing.
Scanz affords a 7-day free trial to its service. After that, a membership to Scanz will run you $169/month. Memberships embody full protection of the Nasdaq, NYSE, and AMEX markets, real-time market information, the Professional, Straightforward, and Information scanners, Stage 2 quotes, (some) dealer integration, ETFs, SPAC’s, Warrants, and Most popular shares, a pre and post-market scanner, and extra options that aren’t listed on the web page.
You aren’t alone if you happen to suppose $169/month is an aggressive worth level. Critiques and consumer testimonies virtually all checklist the value level as the principle draw back to Scanz, and there’s extensive settlement that solely high-rolling merchants with massive portfolios and quite a lot of expertise will get sufficient worth out of it to legitimize the value.
However earlier than you write Scanz off or give them your bank card info, let’s break down the options and companies they provide.
Scanz Options and Companies
Scanz lists the Professional Scanner on the prime of its Options web page, and for good cause. The Professional Scanner, as its title suggests, allows you to scan a number of totally different inventory markets to seek out buying and selling alternatives and observe inventory efficiency in real-time.
The Professional Scanner’s interface is simple, versatile, and designed with customization in thoughts. It’s surprisingly simple to arrange scans, and its big selection of choices allows you to filter for shares by kind, worth, liquidity, fundamentals, and technical indicators like transferring averages, MACD, and Bollinger bands. It’s a really self-directed expertise, and can undoubtedly be extra helpful to veteran merchants than newbies.
- Scans markets from 4am to 8pm every day
- Scans markets individually or all of sudden
- Scans based mostly on inventory kind, ETFs, international shares, most popular shares, and so on
- Auto-sorting operate for figuring out shares with excessive volatility, liquidity, and so on
- Value filters by over 50 variables together with final worth, bid, ask, internet change, highs, and lows
- Liquidity filters for scanning by quantity, greenback quantity, # of trades, and different variables
- Technical filters for scanning based mostly on a library of technical indicators
- Elementary filters for scanning based mostly on financials, share construction, float, and so on
- Straightforward-to-use interface for establishing easy or multi-rule scans
- Limitless saved scan profiles for straightforward entry to earlier scan profiles
The Straightforward Scanner is Scanz’s reply to people who find themselves intimidated by the sheer variety of choices the Professional Scanner affords. As a substitute of meticulously establishing scans with extraordinarily particular standards, the Straightforward Scanner allows you to begin scanning for actionable insights inside a minute or two.
You clearly can’t get the identical type of granularity with the Straightforward Scanner as you’ll with the Professional Scanner, but it surely nonetheless affords a powerful array of filters and options. You’ll be able to filter by market, inventory kind, sector, index, ETFs, and different standards, plus get real-time information on all of your watched shares in a single window.
Zero Effort Scanning
- Solely takes a minute or two to arrange
- Shows real-time information in a single window
- Auto-sorting/rating characteristic allows you to scan for volatility, liquidity, momentum, and different components with only a couple clicks
- Enables you to slender down scan to sure sectors and industries
Quick Squeeze Scanner
- Offers you a listing of potential brief squeeze candidates
- Focuses particularly on sure indexes
- Filter by market, together with by inventory alternate and OTC penny shares
- Inventory kind filter allows you to slender all the way down to ETFs, international shares, bankrupt shares, common shares, and so on
- ETF scanner for locating prime performing ETFs in several sectors
- Customizable filter for scanning by worth, quantity, market cap, float, and so on
Customized Information Columns
- Enables you to add customized information columns to your interface that show technicals, fundamentals, brief curiosity, and different quantitative components
The Breakouts characteristic is the title Scanz gave to its built-in alert system. It’s a helpful characteristic for day merchants who need to have the ability to act on indicators and thresholds in actual time, but it surely takes a great deal of setup to get something helpful out of it. That stated, it’s a pretty versatile system that gives quite a lot of choices for personalisation.
- Value alerts
- Block commerce alerts
- New excessive/low alerts
- Quantity breakouts triggered when shares expertise above common quantity
- Watchlist alerts
- Alert rely monitoring notifies you when a inventory triggers a number of alerts
- Specify by market
- Specify by inventory kind
- Enables you to type alerts by time, amount, and so on
- Enables you to tailor alerts to your private investing technique
Scanz isn’t the one information aggregator on the market, neither is it the most effective. The Information Scanner isn’t dangerous, nonetheless, and it’s undoubtedly a pleasant bonus on prime of the opposite options Scanz affords.
- Over 60 information suppliers
- Over 50 monetary websites/blogs
Actual-Time SEC Filings
- Picks up related SEC filings as quickly as they’re filed
- Glossy, easy-to-parse interface with choices for altering all the things from type to operate
Customized Filters and Key phrases
- Key phrase customization makes it simpler to seek out particular tales
- Filters allow you to slender down information to tales involving penny shares, sure indices, and so on
The Montage characteristic is mainly a customizable window that allows you to squeeze as a lot pertinent info into one window as potential. As a substitute of flipping backwards and forwards between open charts, Stage 2 information, information, and different info, Montage allows you to mix all of them into one window. It’s a helpful characteristic, significantly for merchants who like having the entire image in entrance of them, but it surely’s nothing too thrilling.
- Enables you to take a look at a number of sources and varieties of information directly
Chart Drawing Instruments
- Enables you to take a look at reside charts
- Instruments for drawing in annotations, trendlines, Fibonacci retracements, transferring averages, RSI, and a ton of different indicators.
Built-in Buying and selling
- Enables you to hook up with your brokerage (if you happen to use TD Ameritrade or Interactive Brokers) and make trades proper from the Montage window
A number of Tabs
Enables you to make and click on between a number of Montage home windows
Any outdated service can show reside Stage 1 information like bid, ask, and order dimension information. That’s sufficient for many buyers. Scanz, nonetheless, goes one other stage deeper. Its Stage 2 characteristic provides you real-time entry to the information behind the information, letting you observe order books, monitor which orders are literally executed, and allows you to arrange alerts for when a market maker makes important modifications to their orders.
That is the type of characteristic that may be both ineffective or invaluable, relying on the way you commerce. New merchants will do not know what they’re . Veterans might be able to leverage the insights it supplies to time their trades and acknowledge dangers and alternatives earlier than anybody else.
Order Ebook Abstract
- Designed to allow you to gauge order provide and demand at a look
- Time and Gross sales Window
- For monitoring which orders are literally executed and when
Market Maker Exercise Log
- Scanz’ proprietary Stage 2 service that alerts you to massive modifications within the Stage 2 window
Scanz has rather a lot to supply merchants who already know what they’re doing, so their free trial, why not attempt it?
It’s much less of an enabler than an accentuator; you wouldn’t wish to use it if you happen to’re simply getting began as a dealer or if you happen to’re extra of a long-term and/or worth investor, however for veterans and day merchants, Scanz is completely price it.