Benzinga Pro Review 2024
We are reader-supported. When you buy through links on our site, we may earn a commission (see affiliate policy).
Benzinga Pro is a great stock screener, that offers sophisticated charting, unusual options activity alerts, movers, a trading room and a state of the art news feed. The newswire tool is historically one of its core features.
Benzinga Features
Market Screener
Market scanners are a powerful feature of Benzinga Pro, designed to help traders and investors quickly identify trading opportunities based on set criteria. Here’s a detailed look at how these scanners enhance the trading experience
Benzinga Pro’s market scanners offer an extensive array of filters that users can customize to match their trading strategies. These criteria include:
- Price movements (gainers, losers)
- Volume changes
- Technical indicators (moving averages, RSI, MACD)
- Fundamental data (EPS, revenue)
- News catalysts (press releases, SEC filings)
- Insider trading activity
Real-Time Data
The scanners operate in real-time, continuously updating to reflect the latest market conditions. This ensures that users have access to the most current information, allowing them to identify and act on opportunities as they arise.
Customizable Alerts
Users can set up alerts based on their scanning criteria, receiving notifications when specific conditions are met. These alerts can be delivered via:
- Desktop notifications
- Mobile push notifications
- Email alerts
This feature allows traders to stay on top of potential trades without needing to constantly monitor the platform.
Pre-Built Scanners
For those who may be new to market scanning or prefer a quicker setup, Benzinga Pro offers pre-built scanners. These templates are designed by experts and cover common trading strategies such as:
- Momentum trading
- Breakout stocks
- High volume movers
- Earnings surprises
These pre-built options provide a great starting point, which users can further customize according to their preferences.
User-Friendly Interface
The market scanners are designed with an intuitive interface, making it easy to set up and modify scans. Key features include:
- Drag-and-drop filter selection
- Real-time results display
- Easy-to-read tables and charts
This user-friendly design ensures that both novice and experienced traders can efficiently use the scanners to enhance their trading strategies.
Integration with Other Features
Benzinga Pro’s market scanners are integrated with other features such as the real-time news feed and charting tools. This allows users to:
- Quickly access relevant news for scanned stocks
- Analyze technical charts for potential trades
- Track the historical performance of scanned stocks
Flexibility and Adaptability
The flexibility of Benzinga Pro’s market scanners makes them suitable for various trading styles, including:
- Day trading
- Swing trading
- Long-term investing
Users can adapt their scans to changing market conditions, ensuring that their strategies remain relevant and effective.
News Feed
The real-time news feed is one of Benzinga Pro’s standout features, designed to keep traders and investors ahead of the market with instant access to breaking news and market-moving events. Here’s a closer look at what makes this feature so valuable:
Comprehensive Coverage
Benzinga Pro’s news feed aggregates information from a wide array of sources, ensuring that you receive a broad spectrum of news. This includes:
- Major financial news outlets
- Press releases
- SEC filings
- Social media updates
- Benzinga’s own team of analysts
Speed and Timeliness
The news feed is updated in real-time, meaning that as soon as a news item breaks, it appears on the platform. This speed is crucial for traders who rely on the latest information to make split-second decisions. Benzinga Pro prioritizes immediacy, to deliver news faster than many other platforms.
Customizable Filters
Users can tailor the news feed to their specific needs, filtering news by:
- Tickers
- Sectors
- Keywords
- News categories (e.g., analyst ratings, earnings reports, mergers and acquisitions)
This level of customization helps users focus on the most relevant news, reducing information overload and enabling them to act quickly on important developments.
Audio Alerts
For those who can’t constantly monitor the screen, Benzinga Pro offers audio alerts. This feature is particularly useful during volatile market conditions when timely information can significantly impact trading decisions.
Integration with Market Data
The real-time news feed is seamlessly integrated with market data, allowing users to see how news impacts stock prices in real-time. Users can quickly assess the market’s reaction to news and adjust their strategies accordingly.
Exclusive Content and Analysis
In addition to aggregated news, Benzinga Pro provides exclusive content and analysis from its team of experts. This includes:
- In-depth articles
- Market commentaries
- Expert opinions
This added layer of insight helps users understand the implications of news events and make more informed decisions.
User Interface
The news feed is designed with user experience in mind, featuring a clean, intuitive interface. Key features include:
- Easy-to-read headlines
- Quick access to full articles
- Highlighting of market-moving news
Users can also save and organize important news items for future reference, making it easier to track ongoing stories and market trends.Benzinga Pro offers fantastic charting functionality with an integrated but somewhat simplified version of TradingView charts. Charts support over 120 technical indicators and multiple chart types.
Pros
- Fantastic and customizable newsdesk at a very affordable price
- Alerts, including audio alerts (Squawk Box)
- Wide range of criteria (technical, fundamental, price, volume) for tailored scans
- Customizable Alerts
- Pre-Built Scanners
- Expert-designed templates for common trading strategies
- User-Friendly Interface
- Seamless access to news, charts, and historical performance
- Suitable for day trading, swing trading, and long-term investing
Cons
- Extensive options may be overwhelming for new users.
- Premium pricing might be a barrier for some traders.
- Steep learning curve
- Information overload, potential for too many alerts and data points.
- Broker Integration
Is Benzinga Pro Worth It?
Benzinga Pro is absolutely worth it for any active day trader, providing critical real-time newsfeed and alerts and allowing you to react faster and trade better. Benzinga Pro’s market scanners are an invaluable tool for traders and investors seeking to identify and capitalize on market opportunities. With real-time data, customizable alerts, pre-built scanner templates and an easy-to-use interface, these scanners provide the tools to enhance trading strategies and improve your decision-making processes. Whether you’re a day trader looking for quick moves or a long-term investor seeking undervalued stocks, Benzinga Pro’s market scanners can help you stay ahead of the market.