Scanz Assessment – Is Scanz Value It?
Scanz claims they’ve constructed the premiere inventory discovery platform for merchants. However with this newly advanced 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 turn out to be 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 scorching ideas aren’t sufficient to provide the type of returns it is advisable go from dabbler to full-time day dealer anymore; you want some critical computational assist.
You want three issues to be a profitable dealer: info, timing, and luck. There aren’t any instruments or providers that may enhance your luck—aside from voodoo, after all—or assure well timed trades, however info is one other story.
There are tons of providers, web sites, and investing instruments on the market that promise to maintain you updated on the entire most necessary knowledge and information tales which may have an effect on your portfolio. A few of these assets are free, browser or app-based providers. Others are standalone applications that price as a lot as the common telephone invoice. All providers and instruments aren’t created equal, and determining which one is best for you could be a onerous and probably costly course of.
One of many higher-end inventory scanners on the market involves us from Scanz, beforehand often known as 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.
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 Degree II knowledge.
- Professional Scanner
- Straightforward Scanner
- Information Scanner
- Degree II knowledge
Earlier than we get into the specifics, let’s check out Scanz’s pricing.
Scanz presents a 7-day free trial to its service. After that, a membership to Scanz will run you $169/month. Memberships embody full protection of the Nasdaq, NYSE, and AMEX markets, real-time market knowledge, the Professional, Straightforward, and Information scanners, Degree 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 consumer testimonies virtually all checklist the value level as the principle draw back to Scanz, and there’s huge settlement that solely high-rolling merchants with large portfolios and plenty of expertise will get sufficient worth out of it to legitimize the value.
However earlier than you write Scanz off or give them your bank card info, let’s break down the options and providers they provide.
Scanz Options and Providers
Scanz lists the Professional Scanner on the prime of its Options web page, and for good cause. The Professional Scanner, as its identify suggests, helps you to scan a number of completely different inventory markets to seek out buying and selling alternatives and observe inventory efficiency in real-time.
The Professional Scanner’s interface is simple, versatile, and designed with customization in thoughts. It’s surprisingly straightforward to arrange scans, and its wide selection of choices helps 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.
- Scans markets from 4am to 8pm day by day
- Scans markets individually or unexpectedly
- Scans primarily based on inventory kind, ETFs, overseas shares, most well-liked shares, and so forth
- Auto-sorting operate for figuring out shares with excessive volatility, liquidity, and so forth
- Worth filters by over 50 variables together with final worth, bid, ask, web change, highs, and lows
- Liquidity filters for scanning by quantity, greenback quantity, # of trades, and different variables
- Technical filters for scanning primarily based on a library of technical indicators
- Basic filters for scanning primarily based on financials, share construction, float, and so forth
- Straightforward-to-use interface for establishing easy or multi-rule scans
- Limitless saved scan profiles for straightforward entry to earlier scan profiles
The Straightforward Scanner is Scanz’s reply to people who find themselves intimidated by the sheer variety of choices the Professional Scanner presents. As a substitute of meticulously establishing scans with extraordinarily particular standards, the Straightforward Scanner helps you to begin scanning for actionable insights inside a minute or two.
You clearly can’t get the identical type of granularity with the Straightforward Scanner as you’ll with the Professional Scanner, however it nonetheless presents a powerful array of filters and options. You’ll be able to filter by market, inventory kind, sector, index, ETFs, and different standards, plus get real-time knowledge on all of your watched shares in a single window.
Zero Effort Scanning
- Solely takes a minute or two to arrange
- Shows real-time knowledge in a single window
- Auto-sorting/rating characteristic helps you to scan for volatility, liquidity, momentum, and different elements with only a couple clicks
- Allows you to slender down scan to sure sectors and industries
Brief Squeeze Scanner
- Offers you an inventory of potential brief squeeze candidates
- Focuses particularly on sure indexes
- Filter by market, together with by inventory alternate and OTC penny shares
- Inventory kind filter helps you to slender right down to ETFs, overseas shares, bankrupt shares, common shares, and so forth
- ETF scanner for locating prime performing ETFs in several sectors
- Customizable filter for scanning by worth, quantity, market cap, float, and so forth
Customized Information Columns
- Allows you to add customized knowledge columns to your interface that show technicals, fundamentals, brief curiosity, and different quantitative elements
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, however it takes a great deal of setup to get something helpful out of it. That stated, it’s a pretty versatile system that gives plenty of choices for personalization.
- Worth alerts
- Block commerce alerts
- New excessive/low alerts
- Quantity breakouts triggered when shares expertise above common quantity
- Watchlist alerts
- Alert rely monitoring notifies you when a inventory triggers a number of alerts
- Specify by market
- Specify by inventory kind
- Allows you to kind alerts by time, amount, and so forth
- Allows you to tailor alerts to your private investing technique
Scanz isn’t the one information aggregator on the market, neither is it the most effective. The Information Scanner isn’t unhealthy, nevertheless, and it’s undoubtedly a pleasant bonus on prime of the opposite options Scanz presents.
- Over 60 information suppliers
- Over 50 monetary websites/blogs
Actual-Time SEC Filings
- Picks up related SEC filings as quickly as they’re filed
- Glossy, easy-to-parse interface with choices for altering every thing from type to operate
Customized Filters and Key phrases
- Key phrase customization makes it simpler to seek out particular tales
- Filters allow you to slender down information to tales involving penny shares, sure indices, and so forth
The Montage characteristic is mainly a customizable window that permits you to squeeze as a lot pertinent info into one window as attainable. As a substitute of flipping backwards and forwards between open charts, Degree 2 knowledge, information, and different info, Montage helps you to mix all of them into one window. It’s a helpful characteristic, notably for merchants who like having the entire image in entrance of them, however it’s nothing too thrilling.
- Allows you to have a look at a number of sources and kinds of knowledge without delay
Chart Drawing Instruments
- Allows you to have a look at reside charts
- Instruments for drawing in annotations, trendlines, Fibonacci retracements, shifting averages, RSI, and a ton of different indicators.
Built-in Buying and selling
- Allows you to hook up 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
Allows you to make and click on between a number of Montage home windows
Any outdated service can show reside Degree 1 knowledge like bid, ask, and order measurement knowledge. That’s sufficient for many buyers. Scanz, nevertheless, goes one other degree deeper. Its Degree 2 characteristic offers you real-time entry to the information behind the information, letting you observe order books, monitor which orders are literally executed, and allows you to arrange alerts for when a market maker makes vital adjustments to their orders.
That is the type of characteristic that may be both ineffective or invaluable, relying on the way you commerce. New merchants will do not know what they’re . Veterans might be able to 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 look
- Time and Gross sales Window
- For monitoring which orders are literally executed and when
Market Maker Exercise Log
- Scanz’ proprietary Degree 2 service that alerts you to large adjustments within the Degree 2 window
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 need 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.