As a stock trader, you can easily get caught up in research to an extent that you miss out on the bigger picture which is – making money. At the same time, though, you still need to research in order to invest wisely. So how do you go about establishing a balance between research and investment? A stock screener is the answer.
The job of stock screeners is to narrow down the list of stocks that correspond to your exact needs. This in return can help you eliminate any unsafe stock options and avoid missing out on profitable opportunities.
However, since there are plenty of stock screeners out there, knowing which one to choose can be daunting. For this reason, we are going to do a Finviz review. The stock screener has been attracting a lot of attention lately and we thought it’s only appropriate to weigh it against the highest possible industry standards.
What is Finviz?
Finviz is a stock market research platform that claims to offer powerful technical and fundamental tools for both investors and traders. Its main aim is to offer traders with superior financial analysis, visualization and, research. It is free but they also offer a premium service. Free users usually have access to features like screening, quotes, and charts while premium users, on the other hand, have access to intra-day charts, no ad interruptions, real-time data, alerts and fundamental charts.
In addition, Finviz offers a comprehensive view of the stock market all-in-one platform via its intuitive interface. The homepage offers an overview of the global stock market indices that are displayed using candlestick charts. This ensures traders have a quick look at both the condition and performance of the entire market. And as you scroll down the page, there is plenty of information such as insider trading, earnings releases and stocks with major news. So, overall, the magnitude of information Finviz offers can be quite overwhelming.
This feature is where Finviz sets itself apart from the competition and provides the most value as a stock scanning software. It is incredibly flexible, easy to use and versatile even in the free mode.
The platform allows traders and investors to input various pieces of criteria and receive every stock that fits their criteria. You can choose to search for stocks based on price, beta, specific candlestick pattern, market cap, RSI, average volume, float short, sector or even shares outstanding. The list goes on and on depending on your specific style of investing.
Basically, the scanner gives you complete control over all your scans and the best thing is that you can choose to save those you like for later use. This feature, therefore, saves traders countless hours they would have spent performing manual chart scans. As such, this is deemed as a very powerful tool for investors looking to buy and sell stocks at optimum times.
Finviz has a news section that provides quick headlines which traders can choose to sort by source or time. The news is sourced from various free news feeds including Bloomberg, PR Newswire, Wall Street Journal, Briefing, CNN, NBC, and MarketWatch. Additionally, blogs are streamed from different third-party free sources ranging from Vantage Point Trading to Seeking Alpha, Daily Reckoning, Calculated Risk, Zero Hedge and Mish Talk. This feature also gives users the opportunity to narrow down their news search. Users can, therefore, search for news for a specific company quickly.
3. Heat Maps
Finviz offers three to five minute delayed maps with no intraday charts. Heat maps are great tools that allow for a quick browsing and analysis of large amounts of market data. The tool provides a broad overview of the market but traders can view stock maps of a specific group, country, sector, exchange or industry. And in case you come across a sector or stock you are interested, you can conduct further analysis on it. Also, you can choose which option you want the heat maps displayed including in bubbles and square for a more personalized look.
4. Charts and Quotes
Free users also get access to delayed charts and quotes at no cost. The charts can easily be customized to the trader’s preferred settings. Premium users, on the other hand, usually receive real-time data, fundamental charts, intra-day charts and back-testing.
Subscription Plans and Pricing
Anyone can access Finviz at no cost. However, there are three types of membership plans including free, registered free and Elite. The free access plan features 3 to 5 minutes delayed maps and groups as well as delayed screening, quotes, and charts.
The registered plan, on the other hand, requires the user to register for free access. This plan includes free access to daily charts, up to 50 screener presets, limited screener results, portfolio tickers and all the rest of free access features.
Last but not least we have the Finviz Elite plan that costs $39.50 for a monthly subscription and $299.50 for an annual subscription. However, users can save up to $100 by choosing the annual subscription plan. Being a premium service, it features advanced charts, back tests, real-time maps and groups, email alerts on news, price, rating, and insider, up to 100 screener presets, correlations and screen export.
In addition, users can enjoy fundamental charts, real-time screening, quotes and charts, intraday charts, technical studies, up to 100 portfolios and tickers per portfolio all without advertisements.
- Finviz Elite allows users to cancel their subscription anytime
- Offers great insider trading feeds and heat maps at no cost
- Designed for both new and professional traders
- Saves traders time by filtering out what stocks they want
- 30-day money back guarantee for the Finviz Elite plan if you are not satisfied
- Boasts a user-friendly interface
- Easy to save screens and watchlists as a registered or premium member
- The amount of information provided on a single screen can be overwhelming for new traders
- If you are using the free service, you will have to put up with a lot of annoying ads
Final Verdict- Is Finviz the Real Deal?
Overall, Finviz offers compelling value for money. The fact that there is a free plan and free-registered plan makes it a great platform for new traders who are not ready to commit their hard-earned cash. However, being free means it has limited features compared to the premium service- Finviz Elite. The bottom line is if you want access to high-quality stock screening tools and at an unbeatable price, then you really need to try the Finviz Elite plan. After all, you can always get your money back if you are not satisfied and cancel your subscription. Not to mention, a monthly subscription is only $39.50 and $299.50 for the annual subscription.
ABOUT THE AUTHOR
Romain is an independent trader and investor specializing in financial market analysis and trading systems. He worked as a professional long/short equity trader for a trading firm in New York and has a passion for building mechanical trading strategies. He has been in the industry since 2008.
This post expresses the opinions of the writer and is for information, entertainment purposes only. Romain is not a registered financial advisor or certified analyst. The reader agrees to assume all risk resulting from the application of any of the information provided. Past performance is not a reliable indicator of future returns and financial trading is full of risk.) Please read the Full Disclaimer