Insider Finance Review 2024: Pros, Cons and How It Compares

Insider Finance is a trading software solution focusing on options flow analysis and dark pool prints, algorithmic-trading capabilities, market news and sentiment analysis. We’ve tested the tool and wrote the Insider Finance review to guide you through all features and functionalities.

Insider Finance Special Offer: 25% discount on any Insider Finance subscription, plus an additional 20% off by using the promo code DAYTRADINGZ20.

About InsiderFinance

Insider Finance

Insider Finance is a financial intelligence firm focusing on providing traders with best-in-class tools, data and financial education. They are specialized in options order flow analysis, dark pool data and automated technical analysis.

Features

The Insider Finance dashboard is well-structured, making it easy for beginners to get started. Various pre-configured layouts are available. They include actionable presents optimized for multiple trading styles. In addition, users can use custom filtering, watchlists and more. Below you will find the best platform features.

Real-Time Options Order Flow With Unusual Options Activity + Sweep Activity

The real-time options order flow provides users with an unusual options activity scanner, including unusual block orders and options sweeps. Additional insights like trades executed above the ask price are highlighted with an AA. Such transactions stand for aggressive buying, where the buyer is willing to pay more to get into the position fast.

Insider Finance is one of the best options screeners with order flow insights and details such as the stock symbol, time stamp, spot and strike price, options contract price alert type and more. The heat score in the last column of the layout is based on a proprietary algorithmic ranking, which helps users to identify Wall Street’s most aggressive trades.

Insider Finance dashboard

Dark Pool & Equity Prints

Dark pool trades, also called dark pool prints, are block trades with a high number of shares that are executed over the counter (OTC). Such OTC trades are not executed on official stock exchanges like NASDAQ and NYSE. Instead, private exchanges are used by institutional investors. Those exchanges are called dark pools because of their lack of transparency for people outside.

Insider Finanance tracks dark pool prints and includes the stock ticker, prize, size of the trade and total amount. In addition, it is possible to visualize all prints in a level-view, and dark pool prints with unusually high volume are flagged with a golden marker. Dark pool analysis is often combined with options order flow analysis better to understand the smart money flow from institutional investors.

It is essential to understand that dark pool trades executed over the counter undergo other regulations than trades on regular stock exchanges. Those trades can, but do not have to be reported in real-time. Instead, institutions can delay reporting using various routing methods. InsiderFinance highlights delayed dark pool prints.

InsiderFinance dark pool insights

Crypto & Forex Market Scanner + News

The crypto and forex market scanners provide users with insights into currency-related market behavior. The cryptocurrency tab lists all major cryptocurrencies with insights into the price, volume, market cap, social sentiment, buzz and solar score. In addition, trading signals, technical analysis, news, and news sentiment are available.

InsiderFinance cryptocurrency data

The forex market scanner has a ticker, news, and market tab. The market tab lists all currencies as a screener, heatmap, or cross rates. The news tab includes the ticker news sentiment for leading currencies and a market news sentiment along with the news and recent events. Finally, the ticker tab opens the chart where you can choose between different time frames, chart types, trading indicators and tools.

InsiderFinance forex data

Robust Technical Analysis

InsiderFinance fully integrates with a free and paid TradingView account. TradingView is the market-leading charting platform with over 30 million investors and traders. They provide an entirely free version, and InsiderFinance users can connect both tools. This unlocks a proprietary technical analysis tool with trading signals, custom chart visualization and trading indicators.

InsiderFinance technical analysis toolkit

However, it is not necessary to connect InsiderFinance with TradingView. It is also possible to use the TradingView white-labeled version right within Insider finance for basic technical analysis. Still, the Algo Trading System is worth to check it out. So if you don’t have a free TradingView account, simply register for one (no credit card or phone number needed).

One-Click Dashboard Filtering

Actionable presents enable users to filter for their favorite market scans quickly. At the top, you find the selection for:

  • Equities: Ranks options trades by OTM scores to find those transactions where buyers were willing to take a high risk buying far out-of-the-money options contracts. Out of the money means that the distance between the current spot price of a stock is far away from the options strike price. So it is highly speculative for those who take the risk of buying such options. The basic assumption of such reported trades is that someone might know something beforehand.
  • Unusual: The unusual tab ranks options trades based on Unusual OTM. The InsiderFinance algorithm analysis past behavior of OTM trades. For example, if a specific stock ticker sees OTM trades frequently, it might not be that interesting if the traders buy again far out of the money. At the same time, if they do it with a stock where typically no one buys out-of-the-money options contracts, this could be much more interesting since it is something special. Here you find contracts that expire within the next 35 days and are at least ten percent out of the money.
  • Sweeps: The sweep scanner ranks the options flow by sweep contracts. Sweeps are option orders that indicate the highest urgency in fulfillment and are executed across multiple exchanges.
  • Momentum: Momentum ranks trades based on the relative volume. So if the number of traded options is relatively high compared to the regular number of traded options contracts, then its high momentum.
  • ETFs: The ETF filter is for traders and investors focusing on indices and ETFs like SPY, QQQ, IWM, XLE, TQQQ, SLV; USO, SQQQ, XOP etc. The columns are the same as for stocks.
  • Moonshots: Moonshots focus on low-priced options contracts with enormous potential for massive price swings.

Customization: Each pre-configured dashboard mentioned above can be fully customized within the command center. There you can adjust the trade type, options type, expiration setting, price filters, ticker types, out of the money settings, ticker flow filters, momentum and top position filters.

InsiderFinance command center filter options

Real-Time News + Sentiment

InsiderFinance aggregates and analyzes news feeds, ranks stock symbols with high media coverage, and classifies the sentiment into positive and negative. In addition, the market news are visualized in a graph on a day-by-day basis and shows the sentiment across all news.

This gives a good understanding of the overall market interpretation by news sources like Zacks Investment Research, Investors Business Daily, Market Watch etc. In addition, you can differentiate the sentiment and news by categories like Earnings News, Technical Analysis News, Top Positive Sentiment and Top Negative Sentiment.

On-Demand Historical Data

The on-demand historical data feature is helpful for those who can’t analyze the options flow all day long and for those who want to analyze previous options flow and dark pool prints. That can be helpful in designing trading strategies but also in gaining confidence before making an investment.

First, use the ticker research and type in your preferred stock symbol. Then choose between Most Recent, Week, 2 Weeks and Month data sets. Now you can sort, filter and analyze the data.

historical data request

In addition, you can click on the settings tab and choose Alerts. Here you will find screenshots of the smart market insights, option top tickers, sector sentiment etc., for the preset scans like Sweeps, Momentum, Moonshots etc., for the past six months. So now you can go back in time and analyze how effective specific scans were in the past.

Custom Watchlist

You can create custom watchlists and apply scans exclusively on stocks and ETFs in your watchlist. You can, for example, create a custom watchlist for Meme stocks or your favorite stock symbols and then see the options and dark pool analysis specifically for the stocks within the watchlist. To apply scans to only watchlist assets, use the toggle beside the data tables.

Discord Access

InsiderFinance has a discord community exclusively for subscribers. You can join their discord server by going to settings and clicking join Discord.

Costs

Each InsiderFinance plan provides access to all platform features. Users can pay on a monthly, quarterly and annual basis. The monthly plan costs $99/month, the quarterly $255 per quarter and the annual $900 per year.

Discount

Here, InsiderFinance offers reduced pricing of $75 per month, $195 per quarter and $660 per year. In addition, new users save an additional 20% on their first subscription by using the promo code DAYTRADINGZ20. You can use the code during sign-up by typing it into the field “Add promotional code.”

Insider Finance Review Summary

Insider Finance is a powerful tool for investors. The unusual options activity and dark pool data are visualized greatly, and pre-configured layouts and custom filters make it a powerful platform. In addition, the free integration of TradingView, Algo Trading System and their market news sentiment analysis let them stand out from the competition.

Pros

  • Pre-configured scans for unusual options activity and dark pool trades
  • Highly customizable filters and a custom watchlist
  • Free algorithmic-trading system and Discord channel access
  • Well-documented help guides

Cons

  • Not possible to download data as a CSV file

InsiderFinance Alternatives

BlackBoxStocks and Market Chameleon are good alternatives to InsiderFinance. The tools have powerful options screener capabilities and are specifically beneficial to options traders.

Alexander Voigt, CEO
Article by
Alexander Voigt is the founder of DayTradingZ, was a regular contributor to Benzinga and has been featured and quoted on leading financial websites such as Investors.com, Capital.com, Business Insider and Forbes.
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