Scanz Review: An In-Depth Look at the Trading Scanner

Updated February 6, 2024

At a glance

overall

4.0

Overview

Scanz is a stock scanning and analysis tool that allows traders to find, track, and engage with market opportunities in real-time. Their platform offers powerful features like news scanning, securities screening, and advanced charting.


As the stock trading game intensifies, the search for cutting-edge tools to spot the best trade opportunities becomes crucial for traders. In the world of financial market analysis, a powerful stock market scanner can be the linchpin for success. Among such tools rises the Scanz stock scanner, a platform equipped with dynamic features to furnish traders with real-time data and aid them in making swift, informed decisions.

Initially known as EquityFeed and rebranded to Scanz in 2019, this nimble, yet formidable contender promises to streamline the trading process, potentially changing the game for day traders and swing traders alike.

Can Scanz live up to the hype and become the discerning trader's choice for market analysis? Let's dive into its capabilities and assess its role in the ever-competitive finance arena.

Key Takeaways

  • Scanz Technologies Inc. defines the cutting-edge in trading scanners with its full-fledged stock market scanner.
  • The Pro Scanner enables advanced customization, streaming real-time signals essential for day trading.
  • The Easy Scanner facilitates a clear and accessible view of the market, ideal for traders at any level.
  • With its real-time News Scanner, Scanz ensures traders are always abreast with the latest market-moving events.
  • Breakout Signals and customizable alerts are designed to help traders seize trades swiftly and with confidence.
  • Flexibility reigns supreme as the platform supports a wide gamut of trading strategies and hours.

Understanding Scanz’s Key Features and User Experience

Stepping into the world of stock trading requires powerful tools, and Scanz promises to equip traders with a suite of features designed to enhance their trading strategies. Notably, its customizable stock scanner, real-time stock analysis, and breakout signals are only a few offerings that make Scanz a comprehensive choice for day traders and investors.

Let’s delve into the intricacies of these features and uncover how they can streamline your market scanning experience.

Customizable Pro Scanner with Real-Time Analysis

Scanz's Pro Scanner is one of the most advanced market scanning tools available. It provides flexibility and precision through its extensive customizability. Traders can save an unlimited number of scans and apply a plethora of filters to tailor their stock analysis seamlessly.

Customizable insights into pricing and fundamental metrics allow investors to execute trades based on comprehensive, real-time data.

Effortless Market Scanning with Easy Scanner

For those seeking speed and simplicity, the Easy Scanner feature offers rapid, transparent access to market overviews.

Its interface is designed with user-friendliness in mind, paving the way for both seasoned traders and new subscribers to capture trading signals without the complexity that can come with in-depth scanning tools. This straightforward approach ensures you never miss a beat in the fast-paced trading environment.

Real-Time News Updates with Scanz News Scanner

Keeping on top of market news is vital, and the Scanz News Scanner delivers a robust news feed to keep traders informed. Comparable to services like Benzinga Pro, it aggregates news from over 100 sources, ensuring you never miss market-moving events.

Highlighting the importance of timely information, the News Scanner's keyword filtering allows for targeted and timely insights, making it an invaluable resource for real-time stock analysis.

Spotting Trends with Breakout Signals and Alerts

For the vigilant trader, Scanz's Breakout Signals are pivotal in catching stocks as they make significant moves outside their typical ranges. With real-time alerts on new highs, new lows, and volume breakouts, traders can swiftly respond to conditions that signal potential opportunities.

These breakout signals are critical for those who specialize in trading momentum and aim to capitalize on trends as they emerge.

Trade Ideas provides a comprehensive suite of tools and services for active traders and investors, offering real-time market scanning, stock screening, and algorithmic trading strategies to help users identify potential investment opportunities in the stock market.

ABOUT the Trade Ideas

  • Rated A+ by the BBB
  • Reviewed by Benzinga 5-Star
  • Editors’ Choice Award from WealthUp
  • Earned over 8,000+ 5-Star Customer Ratings

Scanz Review: Analyzing the Breakout and Montage Features

For the discerning day trader, the ability to quickly identify stock breakout opportunities is indispensable for crafting effective trading strategies.

Scanz Technologies offers an integrated toolset uniquely tailored to enhance market visibility and enable rapid responses to stock movements through its Breakout Signals and One Window Montage features.

Identifying Opportunities with Scanz Breakout Signals

Scanz Breakout Signals are engineered to notify traders of key market movements in real-time. By selecting specific breakout types, such as new highs, new lows, and volume breakouts, traders are empowered to detect actionable stock breakout alerts that could spell the difference between an ordinary day and a notable success on the market.

  • New high alerts flag momentum in ascending stocks, indicating a possibly bullish trend.
  • New low alerts provide a heads-up on potential downturns, signaling bearish scenarios.
  • Volume breakouts point to surges in trading activity, hinting at new market interest or divestment.

The promptness and accuracy of these alerts are what set Scanz apart, granting traders the agility to make informed decisions.

Comprehensive Real-Time Data in One Window with Scanz Montage

The One Window Montage designed by Scanz is a concerted trading cockpit that presents real-time trading data in a unified, user-friendly interface. It aggregates a wealth of information vital to day traders, including:

  • Streaming charts enhanced with crucial Level 1 and Level 2 data for comprehensive market depth analysis.
  • Time and sales information that visualizes stock velocity and transaction volumes.
  • Instantaneous news alerts to keep traders abreast of market-shifting events as they unfold.
  • An array of chart indicators, like Fibonacci retracements, to enrich technical analysis.

By centralizing this array of information into a single Window Montage, traders can maintain focus, streamline their workflow, and optimize their trading performance without the burden of juggling multiple platforms or screens.

Scanz’s Technical Edge: Charting, Level 2 Data, and Broker Integrations

The prowess of Scanz as a stock scanner is showcased not just through its nimble real-time market data but also through its array of advanced charting options, providing traders with a robust technical analysis tool. Traders can decipher the complexities of the market with powerful visualizations that highlight actionable trading insights.

Crucial to Scanz's technical offerings is the full order book visualization at Level 2. This feature presents users with a real-time, color-coded depth view of the market, helping to identify buying and selling pressures at various price points and enabling more informed trading decisions.

Looking into the future, Scanz is preparing to expand its functionality with strategic broker integrations. The platform's commitment to seamless trading experiences is evident in its goal to link with established brokerage firms such as Interactive Brokers and TD Ameritrade, thereby permitting traders to execute trades directly from the stock scanner interface.

  • Advanced Charting: Delve into market trends with sophisticated charting tools that accommodate extensive analysis.
  • Full Order Book Visualization: Get an in-depth look at market activity with real-time, Level 2 data display.
  • Broker Integrations: Anticipate an enhanced trading workflow with the planned integration of multiple brokerage accounts.

While these broker integrations are under development, the potential they represent is vast. Offering direct sends of signals to broker accounts could significantly economize the trading process, ultimately giving Scanz users a competitive advantage in the rapid pace of stock trading.

Pricing Model and Value Proposition in Scanz Review

When it comes to selecting a stock scanning software, understanding the investment required is crucial. Scanz offers a tiered approach to pricing, providing options to suit a variety of trader requirements, each with its distinct advantages.

Understanding Scanz Subscription Tiers and OTC Data Costs

Scanz segments its pricing strategy to accommodate diverse trading needs, offering three main subscription packages:

  • News Package: Priced at $79 per month, this package focuses on real-time news updates, ideal for those needing up-to-date market information.
  • Scanner Package: At $99 per month, this tier includes dynamic stock scanning tools tailored for technical traders seeking rapid analysis capabilities.
  • News+Scanner Combo: For a comprehensive experience, this combined package is offered at $169 per month, merging the strengths of both the News and Scanner tiers.

In addition, Over-the-Counter (OTC) market data incurs additional costs:

  • OTC-Level I Data: Accessible for an extra $15 per month.
  • OTC-Level II Data: Also available at an additional $15 monthly fee.

Free Trial Offer and Overall Cost Analysis

Before committing financially, Scanz encourages potential users to explore its features through a 14-day free trial. A standout aspect of this trial is that it does not require credit card details, though a phone verification is necessary to activate the service.

This provides a risk-free opportunity for traders to assess the platform's capabilities and discern the suitability of the software for their particular trading strategies.

Although some users seek more transparency regarding sign-up requirements and desire extended subscription discounts, Scanz caters to a range of preferences with its flexible Scanz pricing and trial options. The initial free trial paired with the segmented subscription tiers empowers traders to make informed decisions about their investment into a premier stock scanning software.

Conclusion

In summary, the Scanz trading platform emerges as a formidable tool for modern traders, brimming with diverse features tailored to accommodate an array of trading strategies. It's not just the real-time market analysis capabilities of its Pro and Easy Scanners that make it stand out, but also the depth of market insight provided by the comprehensive news feed and robust breakout signals. These elements combine to create a holistic ecosystem capable of catering to the dynamic needs of day traders and swing traders, solidifying its place in the ecosystem of trader tools.

The integration of the Montage function and Level 2 Data into Scanz enhances the platform's utility, bringing an added layer of market transparency and strategic depth to the trading experience. Furthermore, the future prospects of broker integrations present an exciting opportunity to streamline and optimize the trading process further. The clarity and thoroughness of Scanz's design reflect an understanding of what traders need to navigate the complexities of the stock market effectively.

While conducting this market scanner evaluation, the importance of cost cannot be understated. Scanz's pricing structure may pose an obstacle for certain traders, particularly when considering the additional fees for OTC market data. Nevertheless, the overall trader tools summary for Scanz's offering is highly promising, especially considering the platform's expansive capabilities and the generous free trial offer. Indeed, for those in search of a sophisticated and agile stock scanner, Scanz's suite of features presents a compelling case for consideration.

QUICK SUMMARY

  • Service: Stock screener
  • Pricing: $169/month
  • Promotion: 14-Day free trial

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