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, nevertheless, takes as a lot or extra effort because it at all times has. Hunches and sizzling ideas aren’t sufficient to supply the form of returns it’s worthwhile to go from dabbler to full-time day dealer anymore; you want some critical 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 vital knowledge and information tales which may have an effect on your portfolio. A few of these assets are free, browser or app-based companies. Others are standalone applications that value as a lot as the common telephone invoice. All companies and instruments aren’t created equal, and determining which one is best for you generally is a onerous and doubtlessly costly course of.
One of many higher-end inventory scanners on the market involves us from Scanz, beforehand generally known as EquityFeed. Maintain studying to search out out extra about what Scanz does, how nicely 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” function that delivers real-time buying and selling indicators, superior charting options, and entry to real-time Degree II knowledge.
- Professional Scanner
- Straightforward Scanner
- Information Scanner
- Degree II knowledge
Earlier than we get into the specifics, let’s check out Scanz’s pricing.
Scanz gives 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 knowledge, the Professional, Straightforward, and Information scanners, Degree 2 quotes, (some) dealer integration, ETFs, SPAC’s, Warrants, and Most well-liked shares, a pre and post-market scanner, and extra options that aren’t listed on the web page.
You aren’t alone should you assume $169/month is an aggressive worth level. Opinions and consumer testimonies nearly all checklist the worth level as the principle draw back to Scanz, and there’s huge settlement that solely high-rolling merchants with huge portfolios and a whole lot of expertise will get sufficient worth out of it to legitimize the worth.
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 motive. The Professional Scanner, as its identify suggests, enables you to scan a number of completely different inventory markets to search 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 wide selection of choices enables you to filter for shares by sort, 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 each day
- Scans markets individually or abruptly
- Scans based mostly on inventory sort, ETFs, overseas shares, most well-liked shares, and many others
- Auto-sorting operate for figuring out shares with excessive volatility, liquidity, and many others
- Value filters by over 50 variables together with final worth, bid, ask, web 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
- Basic filters for scanning based mostly on financials, share construction, float, and many others
- Straightforward-to-use interface for organising 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 gives. As an alternative of meticulously organising scans with extraordinarily particular standards, the Straightforward Scanner enables you to begin scanning for actionable insights inside a minute or two.
You clearly can’t get the identical form of granularity with the Straightforward Scanner as you’ll with the Professional Scanner, nevertheless it nonetheless gives a formidable array of filters and options. You possibly can filter by market, inventory sort, sector, index, ETFs, and different standards, plus get real-time knowledge on all of your watched shares in a single window.
Zero Effort Scanning
- Solely takes a minute or two to arrange
- Shows real-time knowledge in a single window
- Auto-sorting/rating function enables you to scan for volatility, liquidity, momentum, and different components with only a couple clicks
- Enables you to slim down scan to sure sectors and industries
Quick Squeeze Scanner
- Offers you an inventory of potential quick squeeze candidates
- Focuses particularly on sure indexes
- Filter by market, together with by inventory trade and OTC penny shares
- Inventory sort filter enables you to slim all the way down to ETFs, overseas shares, bankrupt shares, common shares, and many others
- ETF scanner for locating prime performing ETFs in several sectors
- Customizable filter for scanning by worth, quantity, market cap, float, and many others
Customized Knowledge Columns
- Enables you to add customized knowledge columns to your interface that show technicals, fundamentals, quick curiosity, and different quantitative components
The Breakouts function is the identify Scanz gave to its built-in alert system. It’s a helpful function for day merchants who need to have the ability to act on indicators and thresholds in actual time, nevertheless it takes a great deal of setup to get something helpful out of it. That mentioned, it’s a pretty versatile system that gives a whole 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 depend monitoring notifies you when a inventory triggers a number of alerts
- Specify by market
- Specify by inventory sort
- Enables you to kind alerts by time, amount, and many others
- 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 unhealthy, nevertheless, and it’s undoubtedly a pleasant bonus on prime of the opposite options Scanz gives.
- Over 60 information suppliers
- Over 50 monetary websites/blogs
Actual-Time SEC Filings
- Picks up related SEC filings as quickly as they’re filed
- Modern, easy-to-parse interface with choices for altering every little thing from type to operate
Customized Filters and Key phrases
- Key phrase customization makes it simpler to search out particular tales
- Filters allow you to slim down information to tales involving penny shares, sure indices, and many others
The Montage function is mainly a customizable window that allows you to squeeze as a lot pertinent info into one window as doable. As an alternative of flipping backwards and forwards between open charts, Degree 2 knowledge, information, and different info, Montage enables you to mix all of them into one window. It’s a helpful function, significantly for merchants who like having the entire image in entrance of them, nevertheless it’s nothing too thrilling.
- Enables you to have a look at a number of sources and forms of knowledge without delay
Chart Drawing Instruments
- Enables you to have a look at dwell 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 (should you 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 dwell Degree 1 knowledge like bid, ask, and order measurement knowledge. That’s sufficient for many traders. Scanz, nevertheless, goes one other stage deeper. Its Degree 2 function offers you real-time entry to the info behind the info, letting you observe order books, monitor which orders are literally executed, and allows you to arrange alerts for when a market maker makes important adjustments to their orders.
That is the form of function that may be both ineffective or invaluable, relying on the way you commerce. New merchants will don’t know what they’re . Veterans could possibly leverage the insights it supplies to time their trades and acknowledge dangers and alternatives earlier than anybody else.
Order E-book 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 Degree 2 service that alerts you to huge adjustments within the Degree 2 window
Scanz has quite a bit to supply merchants who already know what they’re doing, so their free trial, why not strive it?
It’s much less of an enabler than an accentuator; you wouldn’t wish to use it should you’re simply getting began as a dealer or should you’re extra of a long-term and/or worth investor, however for veterans and day merchants, Scanz is completely price it.