Scanz’s mission is to be the easiest stock scanner. For over 10 years it’s been a trusted tool for traders, giving real time results with endless trades in the stock trading game. Scanz is one of the top trading platforms because of it’s features and user experience.
Let’s dive into the Scanz review to see if this scanner is worth it. We’ll talk about the costs, features and compare it to the market leaders.
What is Scanz?
Scanz is a stock scanner and news feed with streaming charts and level II data. For day traders and swing traders. Charts and watchlists can be used, broker integrations and pre-configured scans coming soon. Scanz Technologies Inc is the company behind the Scanz stock scanner. Email and contact form on their website. Scanz supports all trading strategies with it’s advanced tools.
Scanz Overview
Scanz is a top of the line stock scanner and trading platform that gives you real time stock data from the market. Started in 2002 as EquityFeed and rebranded as Scanz in 2019. Scanz makes finding profitable stocks easy by scanning the data and extracting the key points. The platform has a powerful news streaming service so you can stay on top of the market as the news is being released. With it’s advanced features and tools Scanz is a great platform for active traders, day and swing traders who need one stop shop for news, notifications, trade signals, Level 1 & 2 data and more.
Scanz Pro Stock Scanner
The Pro Scanner streams signals from 4:00 am to 8:00 pm EST. Gives you real time data for penny stocks. Fully customizable and you can save as many scans as you want. Over 50 price variables to narrow down the scanner results. Popular filters like last price, bid and ask price, $ change and % change and values like OHLC can be used.
Also $volume and number of trades filters can be used, technical filters like MACD and Bollinger Bands. Like Finviz fundamental filters like float, market cap and financials can be used. The Pro Scanner’s real time data is perfect for penny stock traders who need up to the minute information and trade opportunities.
The stock scanner is a new product and there are more scanning features coming. One of them are the 100 pre-configured scans where you can scan for gappers, moving average crossovers and more.
One of the nice features of this tool is that the results can be downloaded in a CSV file. Other features like sorting and stock type selection are a must for any platform and are not unique.
Easy Scanner
The easy scanner is all about speed and total market transparency where zero effort is required to use it. You can generate trade ideas with minimal effort. You can filter results by stock type like ETFs, regular stocks and foreign stocks and apply custom filters. You can scan the major indexes with the Easy Scanner. It can also be used as a sector scanner and a short squeeze scanner.
In short the Easy Scanner is a Pro Scanner light. It’s included in the regular subscription and a good start for new subscribers to get familiar with the platform. The Pro Scanner has more features and IMO should be used from the beginning.
Real Time News Scanner
We know from the Benzinga Pro review that it’s good to have a real time news feed alongside the pricing stream detection. Real time news is crucial for making informed trading decisions as it causes price movements and knowing the reason for a move is always helpful. The Scanz news scanner is designed to do just that. With over 100 news sources and nearly endless customizations Scanz wants to make it the best news source ever. Like Benzinga Pro real time SEC filings are streamed.
A nice feature is the keyword customization where you can scan the news for specific keywords like Earnings, Merges, Acquisition or something similar. You can also search by ticker symbol and apply custom filters.
Breakout Signals
The Scanz Breakouts are a specific type of filter. It’s one of the pre-configured scans of the 100 planned for the Scanz Pro Scanner. Day traders use the Breakouts scanner to find tradeable signals for various stock types. Scanz promises high speed signals with zero latency and instant sorting and watchlist alerts. Once stocks break out of their sideways price range the breakout signals appear.
The types of breakouts are:
- Scanz New High Alerts
- New Low Alerts
- Price- and Volume Breakouts
One Window Montage
The Scanz One Window Montage is a nice feature. Here you can see the real time picture of your chosen stock. You can scan pre-market, regular market and even post-market hours. Montage means you can see everything at once in one window. Streaming charts with level 1 and level 2 data, time and sales, news alerts and indicators. You can use tabbed windows and drawing tools like Fibonacci retracements on the chart.
Level 2
The level 2 is a nice feature. We can see the full order book in real time. Color coding is supported and tabbed windows can be used. This is something unique that only a few scanner platforms offer at the moment.
Notifications and Alerts
You can scan the stock market and send the stock scanner alerts to your desktop or email. You will never miss when stocks meet your filter criteria. The Scanz system will find things and alert you when ready.
Charting
Charting is key for day trading. Day traders use charts for visual confirmation when stocks move up or down. First you find your stocks, then you check the news and charts. Nice to have all that in one place.
Interactive Brokers Integrations
Traders will love this feature. Scanz plans to integrate 10 brokerage platforms. The most popular brokers like Interactive Brokers and TD Ameritrade will be connected to the Scanz platform. Then you can use Scanz to find the best stock and send the signal directly to your brokerage account. Multiple order types will be planned, trading interface and one click connections, multiple order types and real time P&L. No exact date mentioned when this feature will be available so we have to wait and see.
Price | Discounts
Scanz.com costs $169/month. All subscriptions are monthly. No discounts for yearly subscriptions or general discounts on any subscriptions. The data feed is included in the monthly subscription cost. Only the OTC market costs an extra $15/month for Level 1+2 OTC Markets data.
All subscriptions come with a 7 day free trial. You don’t need to enter your credit card to register for the 7 day trial but once you registered you need to verify your data with a phone number.
Scanz Pricing Tiers
Scanz offers a 7 day free trial to its service so you can try out the platform and its features. After the trial a membership to Scanz costs $169/month. Memberships include full coverage of Nasdaq, NYSE and AMEX markets, real time market data and features like customizable stock scanners, news scanner, Breakouts feature, advanced charting features and real time Level II data.
Legitimacy and Reviews
Scanz has been a top stock scanner for several years even before it was Scanz in 2019. The platform has nearly 20 years of scanner experience under its belt so it’s a reliable and trustworthy tool.
Scanz Reviews and Reputation
Scanz has a 4.4/5 rating on Trustpilot with 68% of users giving a 5 star rating. Users love the platform’s reliability, customizability and news streaming service. Some users reported occasional outages but they are usually fixed quickly. Overall Scanz has a good reputation among traders and is one of the best trading platforms out there.
Pros and Cons
- Scanz minimum subscription duration is one month
- Separate packages for news and scanner functionalities
- Level II data available
- Broker integration not finished yet
- Pre-configured scans not available yet
- OTC market data extra cost
- Has video tutorials to help you understand the platform and improve your trading skills
Scanz Pros and Cons
Pros:
- Advanced features and tools for active traders
- Customizable stock scanners and news scanner
- News streaming service
- Real time market data and Level II data
- Good for swing and day traders
Cons:
- $169/month
- No mobile app
- Some outages
- May be overwhelming for new traders
Overall Scanz is a top stock scanner and trading platform with many features and tools for active traders. While it has its drawbacks, the pros outweigh the cons so it’s a good choice for traders who want to improve their trading.
Rating: ★★★★
