Scanz claims they’ve constructed the premiere inventory discovery platform for merchants. However with this newly advanced subscription inventory scanning service’s commanding value premium, everybody has only one query:
Is Scanz value it?
It’s by no means been simpler to change 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 scorching ideas aren’t sufficient to provide the sort of returns you must go from dabbler to full-time day dealer anymore; you want some severe computational assist.
You want three issues to be a profitable dealer: data, timing, and luck. There aren’t any instruments or providers that may enhance your luck—apart from voodoo, after all—or assure well timed trades, however data is one other story.
There are tons of providers, web sites, and investing instruments on the market that promise to maintain you updated on all the most essential knowledge and information tales which may have an effect on your portfolio. A few of these assets are free, browser or app-based providers. Others are standalone applications that value as a lot as the common cellphone invoice. All providers and instruments aren’t created equal, and determining which one is best for you generally is a arduous and doubtlessly costly course of.
One of many higher-end inventory scanners on the market involves us from Scanz, beforehand often known as EquityFeed. Preserve studying to search out out extra about what Scanz does, how properly it does it, and the way it stacks as much as the competitors.
Scanz payments itself as “the ‘multi functional’ market scanning platform made for day merchants and swing merchants.” Their standalone software program platform combines customizable inventory scanners—each “Professional” and “Simple”—a information scanner, a “Breakouts” function that delivers real-time buying and selling indicators, superior charting options, and entry to real-time Stage II knowledge.
- Professional Scanner
- Simple Scanner
- Information Scanner
- Stage II knowledge
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 embrace full protection of the Nasdaq, NYSE, and AMEX markets, real-time market knowledge, the Professional, Simple, and Information scanners, Stage 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 in case you suppose $169/month is an aggressive value level. Opinions and consumer testimonies nearly all listing the value level as the primary draw back to Scanz, and there’s extensive settlement that solely high-rolling merchants with large 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 data, let’s break down the options and providers 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, enables you to scan a number of totally different inventory markets to search out buying and selling alternatives and monitor 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 enables you to filter for shares by sort, value, liquidity, fundamentals, and technical indicators like shifting 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 all of sudden
- Scans primarily based on inventory sort, ETFs, international shares, most popular shares, and so on
- Auto-sorting operate for figuring out shares with excessive volatility, liquidity, and so on
- Worth filters by over 50 variables together with final value, bid, ask, internet change, highs, and lows
- Liquidity filters for scanning by quantity, greenback quantity, # of trades, and different variables
- Technical filters for scanning primarily based on a library of technical indicators
- Basic filters for scanning primarily based on financials, share construction, float, and so on
- Simple-to-use interface for organising easy or multi-rule scans
- Limitless saved scan profiles for straightforward entry to earlier scan profiles
The Simple 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 organising scans with extraordinarily particular standards, the Simple Scanner enables you to begin scanning for actionable insights inside a minute or two.
You clearly can’t get the identical sort of granularity with the Simple Scanner as you’ll with the Professional Scanner, nevertheless it nonetheless affords a formidable array of filters and options. You may 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
- Allows you to slim down scan to sure sectors and industries
Brief Squeeze Scanner
- Offers you a listing of potential brief squeeze candidates
- Focuses particularly on sure indexes
- Filter by market, together with by inventory change and OTC penny shares
- Inventory sort filter enables you to slim right 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 value, quantity, market cap, float, and so on
Customized Knowledge Columns
- Allows you to add customized knowledge columns to your interface that show technicals, fundamentals, brief curiosity, and different quantitative components
The Breakouts function is the title 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 quite a lot of choices for personalisation.
- Worth 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
- Allows you to kind alerts by time, amount, and so on
- Allows you to tailor alerts to your private investing technique
Scanz isn’t the one information aggregator on the market, neither is it the very best. The Information Scanner isn’t dangerous, nonetheless, and it’s positively 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
- Smooth, easy-to-parse interface with choices for altering every 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 so on
The Montage function is mainly a customizable window that allows you to squeeze as a lot pertinent data into one window as attainable. As a substitute of flipping backwards and forwards between open charts, Stage 2 knowledge, information, and different data, Montage enables you to mix all of them into one window. It’s a helpful function, notably for merchants who like having the entire image in entrance of them, nevertheless it’s nothing too thrilling.
- Allows you to take a look at a number of sources and varieties of knowledge without delay
Chart Drawing Instruments
- Allows you to take a look at stay charts
- Instruments for drawing in annotations, trendlines, Fibonacci retracements, shifting averages, RSI, and a ton of different indicators.
Built-in Buying and selling
- Allows you to hook up with your brokerage (in case you use TD Ameritrade or Interactive Brokers) and make trades proper from the Montage window
A number of Tabs
Allows you to make and click on between a number of Montage home windows
Any outdated service can show stay Stage 1 knowledge like bid, ask, and order dimension knowledge. That’s sufficient for many buyers. Scanz, nonetheless, goes one other stage deeper. Its Stage 2 function provides you real-time entry to the information behind the information, letting you monitor order books, monitor which orders are literally executed, and allows you to arrange alerts for when a market maker makes vital adjustments to their orders.
That is the sort 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 gives 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 Stage 2 service that alerts you to large adjustments within the Stage 2 window
Scanz has lots 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 need to use it in case you’re simply getting began as a dealer or in case you’re extra of a long-term and/or worth investor, however for veterans and day merchants, Scanz is completely value it.