Benzinga Pro Review
Benzinga Pro is an outstanding stock news screener with tons of exceptional capabilities. The news platform is easy to use and impressive. Read the full Benzinga Pro review and see how it compares to other news platforms and learn more about the pricing options and discounts.
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About Benzinga Pro
Jason Raznick founded Benzinga, the data technology and media startup, back in 2010. Benzinga.com is very popular and has about 2,000,000 visitors a month. Within a couple of years, Benzinga Pro, the ultimate newswire tool, was born. Since then, new features were added, the technology got better, and usability improved. The brand new stock screener and chat are the latest innovations.
Benzinga Pro Platform Features
Okay, now let's take a closer look at Benzinga Pro's platform. Benzinga Pro is mainly a news-based platform. "Mainly" because Benzinga also released a stock screener functionality a few weeks ago. The platform is web-based, and you can run it from any device. Using it from your mobile is an option, and you can also use the Benzinga App. However, using it from a personal computer provides by far the best user experience. I run it on my 49" widescreen along with my Trade Ideas scans, and it's an incredible experience.
The Benzinga Pro option alerts is a pre-configured workspace. I don't go through every pre-configured workspace, but I like to use the options alert workspace as an example. Go to your main screen and chose "Options Alerts" to open the workspace. Once opened, you will realize that the newsfeed is now limited to options plays. Those options alerts are based on BZ Wire news. You could replicate this workspace on your own with some simple settings: Chose the sources "Benzinga Signals" or "Benzinga Wire" AND the category "Options." That's it; you are all set.
There is no direct way to limit the newsfeed to penny stocks only. However, there is a filter for small caps. You can add a filter in "Categories" and chose "Small Cap." Small caps are not necessarily penny stocks, but many of them are. Benzinga already included a pricing range filter in their new stock screener.
We talked about an options scan earlier in this Benzinga Pro review. As I said before, there is also another option scan within the "Signals" navigation menu. To open the signal based screen, chose "SIGNALS" in the left navigation and "Option Activity" at the top.
This is pretty awesome because you can identify unusual options activity. Besides the options activity, you can also select:
- Price Spike
- Block Trade
- Opening Gap
One thing that I like here is the fact that you can export the data as CSV-File.
You can be alerted by desktop notifications, sound, and synthesized voice. The Benzinga Radio Squawk box takes it even a step further. Day traders are always busy, and using eyes only can be a disadvantage trading based on major news. That's why the Benzinga Radio Squawk Box is a great addition for day traders. So, if you have only one monitor and if you have multi-tasking abilities, then this feature is what you need never to miss any major news again. Use your PC audio and listen to the hottest breaking news and news alerts that drive the market. Audio news are useful for day trading if you trade based on real-time news. If you trade based on signals, then you never have the right audible news suiting the price alerts from your scanners.
Real-Time News Feed
You can open the market news feed right from the main site by choosing "News Feed." Once opened, all market news data gets visible in one window within the news platform. But this is just the most basic configuration. Five different filters are visible with the news feed configuration:
- Desktop Notifications
When you trade based on stock screener signals, then you should, for example, activate ALL sources but not limit any of the other options, to see all market news, analyst ratings, trading ideas, and financial news.
News Feed Filters
Sources: Currently, six different news sources are supported. Check any of them when you want to accomplish a broad search. If you prefer a search based on SEC filings, then chose SEC only.
Categories: The categories filter is a great way to limit the financial news shown. For example, if you're looking for all possible stocks but only for the hottest movers, then you can set the filter to "Hot."
Sectors: Are you a real-time biotech breakout trader? Then the Sector selection "Sectors," "Healthcare," "Biotechnology" might be a great choice. Remember, you can freely combine all those filters form each of the items under "sources," "categories," "sectors," and "watchlists" in the way you prefer.
Watchlists: Let's say that you're pretty good at trading 50 specific stocks. You know how they move, you know how the market maker acts, and you know that there is always a good follow through to a move. Or you prepare a daily watchlist before market open and want to stay focus on those stocks only during the day, or even during a week. Then the watchlist is what you need.
The 5 Best Benzinga Newsfeeds
Type "topline results" into the search box at the upper left. Check out the stocks being listed in the results for the specific dates. Look at those charts with the trading timeframe you prefer.
Here are five more good keywords to start with:
- Statistically Significant
- Primary Endpoint
- FDA Approval
- Reverse Stock split
If you click on details, then a pre-configured window mix will open. At first, it doesn't look that interesting. But by taking a closer look, you will realize that this workspace has a lot of power. There are two main navigations in the detail view. The upper one contains the following navigation items:
The overview combines a chart and some news sources. The news tab shows only the news. The chart tab opens an in-depth chart powered by TradingView, while the calendar view allows you to show even more data options.
The financials tab within the Details workspace reveals more financial data – quarterly and yearly for the sub-categories:
- Balance Sheet
- Income Statement
- Cash Flow
PreMarket and Benzinga After Hours
Let's say you're looking for the biggest gainers in the pre-market hours. But only stocks with a market cap between $300M and $2B are what you are looking for. Also, you like to filter down the results to stocks with a price range from $5-$10.
Benzinga's stock screener is in beta mode right now. You can use it, for example, to scan for stock with a price range from $1-$5. Once you filtered down the results to stocks with a price range from $1 to $5, you can sort the table based on various columns. You can add more columns as well. However, please note that stock screener results are not connected to newsfeed results.
But from what I have seen so far, the filters are interesting for traders and investors. Right now, there are 31 different filters for fundamental data, and 21 for technical data. So you can scan for EPS, Dividends, Profit Marin, Float, Gap, and many more. I expect that this feature will be further developed during the next few months. By the way, you can export the data with one click at the symbol at the top right.
The review showed that the screener is great for financial news, breaking news, identifying block trades, and it's a great addition to the news feed.
Benzinga Pro Costs
There are two subscription plans available: Basic and Essential. Benzinga Pro Basic costs $99/month paid monthly or $79/month paid annually. Benzinga Pro Essential includes all features and costs $147/m paid monthly and $117/m paid annually.
Benzinga Pro Essential subscription unfolds the full power of this trading tool.
Use the discount code "DAYTRADINGZ" to save 30% on any subscription instantly. Or, simply click here and use the promo code "DAYTRADINGZ" during the checkout. The Benzinga Pro coupon code is valid for all subscriptions.
|Subscription||DAYTRADINGZ Price||Regular Price|
Who is Benzinga Pro Best For?
As a day trader, I usually don't care about specific fundamental data. But knowing the cause of a move helps to evaluate the potential of a trade even better. And that's what I use Benzinga Pro for. I mainly use it in the way that I run my Trade Ideas scanner and check the catalyst for the move in Benzinga Pro before making a decision.
This costs me a few seconds and is worth the time. On top of that, I did start monitoring their "Unusual Options Activity" signal feature. I am primarily interested in OTM options with short durations and tons of contracts traded. If someone places such a "bet," then he or she often knows something that others don't know. Also, using the newsfeed with "SEC" as a source and "form 4" in the search bar reveals heavy insider transactions.
If you see a CEO buying 100,000 shares of his company, then it might be worth taking a closer look at it – right? There are so many great advantages to using Benzinga Pro. Again, the news feed is their bread and butter. And Benzinga has tons of competitors covering the newsfeed functionalities. But Benzinga Pro is a complete solution with incredible value-adding capabilities being worth the price.
You can save your workspaces, and you can create multiple workspaces and scroll through them, similar to your browser tabs. You can filter down the results to specific criteria and export results to a spreadsheet.
Whenever I had a question, the support team answered my question within minutes. If you have any questions during your free trial or your regular subscription, just hit the blue button in the lower right corner.
Their team typically replies in under 5 minutes. Whenever I contacted them, they responded within 1 minute. That's amazing! I hope that this Benzinga Pro review is helpful for you. I will add more content over time when Benzinga releases further features, or when other major improvements happen.
I enjoyed the time writing the Benzinga Pro review, and every minute spent was worth the money. Benzinga Pro is now a great addition to my toolbox and the best news desk, and news service I can think of. The features are comprehensive, day trading the news is possible, and stock alerts come in once the news getting released. The mix with Trade Ideas now covers both sides of the story - Trade Ideas alerts me about stocks that move right now. Benzinga Pro alerts me when news comes in that can drive the market.
- Incredible news platform for traders
- Fully customizable newsfeed
- works on any device due to browser-based technology
- Audio alerts and squawk box are beneficial
- Desktop notifications are convenient
- The Basic version is not that helpful
- Out of the box, settings are okay, but the user has to configure the platform based on their needs
About the Author
Alexander is an investor, trader, and founder of daytradingz.com. After devoting many years to educating himself on powerful day trading techniques and effective investment styles, he started trading and investing more actively. In the past 20 years, he has executed thousands of trades. In 2015, he began writing articles about trading, investing, and personal finance. He is very passionate about sharing his knowledge and strives for success in himself and others. Alexander has been featured on Benzinga, Rockstar Finance, and ESI Money.