Scanz claims they’ve constructed the premiere inventory discovery platform for merchants. However with this newly developed subscription inventory scanning service’s commanding worth premium, everybody has only one query:
Is Scanz value 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 all the time has. Hunches and sizzling ideas aren’t sufficient to supply the form of returns you might want 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: data, timing, and luck. There aren’t any instruments or companies that may enhance your luck—apart from voodoo, in fact—or assure well timed trades, however data 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 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 is usually a exhausting and doubtlessly costly course of.
One of many higher-end inventory scanners on the market involves us from Scanz, beforehand often called EquityFeed. Hold studying to seek out out extra about what Scanz does, how properly it does it, and the way it stacks as much as the competitors.
What’s Scanz?
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 alerts, superior charting options, and entry to real-time Stage II information.
Options Abstract:
Professional Scanner Straightforward Scanner Information Scanner Breakouts Charting Stage II information
Earlier than we get into the specifics, let’s check out Scanz’s pricing.
Scanz Pricing
Scanz gives 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 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. Evaluations and person testimonies nearly all checklist the worth level as the primary draw back to Scanz, and there’s large settlement that solely high-rolling merchants with massive portfolios and lots 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 data, let’s break down the options and companies they provide.
Scanz Options and Providers
Professional Scanner
Scanz lists the Professional Scanner on the high of its Options web page, and for good motive. The Professional Scanner, as its identify suggests, allows you to scan a number of completely different inventory markets to seek out buying and selling alternatives and monitor inventory efficiency in real-time.
The Professional Scanner’s interface is easy, versatile, and designed with customization in thoughts. It’s surprisingly straightforward to arrange scans, and its wide selection of choices allows you to filter for shares by kind, worth, 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.
Actual-Time Scanning
Scans markets from 4am to 8pm dailyScans markets individually or all at onceScans primarily based on inventory kind, ETFs, international shares, most popular shares, etcAuto-sorting operate for figuring out shares with excessive volatility, liquidity, and so forth
Filters
Value filters by over 50 variables together with final worth, bid, ask, internet change, highs, and lowsLiquidity filters for scanning by quantity, greenback quantity, # of trades, and different variablesTechnical filters for scanning primarily based on a library of technical indicatorsFundamental filters for scanning primarily based on financials, share construction, float, and so forth
Customizable Scans
Straightforward-to-use interface for organising easy or multi-rule scansUnlimited saved scan profiles for simple entry to earlier scan profiles
Straightforward Scanner
The Straightforward Scanner is Scanz’s reply to people who find themselves intimidated by the sheer variety of choices the Professional Scanner gives. As a substitute of meticulously organising 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 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 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 set upDisplays real-time information in a single windowAuto-sorting/rating characteristic allows you to scan for volatility, liquidity, momentum, and different elements with only a couple clicks
Sector Scanner
Helps you to slender down scan to sure sectors and industries
Brief Squeeze Scanner
Offers you a listing of potential quick squeeze candidates
Index Scanner
Focuses particularly on sure indexes
Filters
Filter by market, together with by inventory change and OTC penny stocksStock kind filter allows you to slender right down to ETFs, international shares, bankrupt shares, common shares, etcETF scanner for locating high performing ETFs in numerous sectorsCustomizable filter for scanning by worth, quantity, market cap, float, and so forth
Customized Information Columns
Helps you to add customized information columns to your interface that show technicals, fundamentals, quick curiosity, and different quantitative elements
Breakouts
The Breakouts characteristic is the identify 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 alerts and thresholds in actual time, nevertheless it takes a great deal of setup to get something helpful out of it. That stated, it’s a pretty versatile system that gives lots of choices for personalisation.
Breakouts
Value alertsBlock commerce alertsNew excessive/low alertsVolume breakouts triggered when shares expertise above common volumeWatchlist alertsAlert depend monitoring notifies you when a inventory triggers a number of alerts
Customization
Specify by marketSpecify by inventory kind
On the spot Sorting
Helps you to type alerts by time, amount, and so forth
Customized Filters
Helps you to tailor alerts to your private investing technique
Information Scanner
Scanz isn’t the one information aggregator on the market, neither is it the perfect. The Information Scanner isn’t unhealthy, nevertheless, and it’s positively a pleasant bonus on high of the opposite options Scanz gives.
Actual-Time Information
Over 60 information providersOver 50 monetary websites/blogs
Actual-Time SEC Filings
Picks up related SEC filings as quickly as they’re filed
Customizable Interface
Modern, easy-to-parse interface with choices for altering the whole lot from type to operate
Customized Filters and Key phrases
Key phrase customization makes it simpler to seek out particular storiesFilters allow you to slender down information to tales involving penny shares, sure indices, and so forth
Montage
The Montage characteristic is mainly a customizable window that permits you to squeeze as a lot pertinent data into one window as doable. As a substitute of flipping forwards and backwards between open charts, Stage 2 information, information, and different data, 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, nevertheless it’s nothing too thrilling.
Modular Window
Helps you to take a look at a number of sources and sorts of information without delay
Chart Drawing Instruments
Helps you to take a look at dwell chartsTools for drawing in annotations, trendlines, Fibonacci retracements, shifting averages, RSI, and a ton of different indicators.
Built-in Buying and selling
Helps you to connect 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
Helps you to make and click on between a number of Montage home windows
Stage 2
Any previous service can show dwell Stage 1 information like bid, ask, and order measurement information. That’s sufficient for many traders. Scanz, nevertheless, goes one other degree deeper. Its Stage 2 characteristic provides you real-time entry to the info behind the info, letting you monitor order books, monitor which orders are literally executed, and allows you to arrange alerts for when a market maker makes vital modifications to their orders.
That is the form of characteristic that may be both ineffective or invaluable, relying on the way you commerce. New merchants will don’t know what they’re taking a look at. 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 glanceTime and Gross sales WindowFor 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
Conclusion
Scanz has lots 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 value it.
