|BZWire Real-Time Newsfeed|
|Exclusive Commentary & Analysis|
|Real-Time Audio Squawk|
|Chat with News-Desk|
|Ease of Use & Configurability|
With exclusive features like real-time news, sentiment indicators, audio squawk box, chat to newsdesk and the powerful calendar suite is it worth paying for Benzinga PRO? It depends what you need. We recommended it for those who want an actionable real-time news service + exclusive analysis to get an edge in the market.
Benzinga PRO Recommended For Those Who Want An Actionable Real-Time News Service, Exclusive Analysis & Features That Give You An Edge In Your Trading.
Is Benzinga PRO Really Changing Financial News? Exclusive News, Sentiment, Audio Squawk Box & Chat to Newsdesk Are Great Features But We Deep Dive To Discover The Real Power Of Benzinga.
What kind of name for a business is Benzinga? Are they serious? They claim to have the best real-time news service for investors, is that really true? We all see the news on TV and on the Web but how much of it can you really use? This is where Benzinga specializes, it is a company dedicated to real-time actionable news for traders and investors. I have been actively using Benzinga as an investor for many years so I hope my review is useful to you.
What is Benzinga Pro?
Benzinga PRO is a premium real-time news service that is an upgrade from the regular Benzinga free news service. It is a significant upgrade that obviously comes with a price. What makes it special is not just the fast delivery of news but the insider interviews and direct access to the reporters at the news desk. They also have a huge amount of news content not available to regular free subscribers. So what makes it special? The platform and content.
Is Benzinga Credible?
Yes. The question of whether Benzinga is a credible news source is a strange one, but reoccurs because many people are starting to hear about Benzinga for the first time. Established in 2010 by Jason Raznik, Benzinga is a major newswire. Benzinga provides data to brokerages and other news outlets such as TradeStation, TD Ameritrade, MarketWatch, Bloomberg, Thomson Reuters and many more.
How Does Benzinga Get News?
Benzinga produces a lot of news themselves, but they also partner with 3rd parties to provide data to their customers. Current tier one partners are FXStreet, Dxfeed, New York Times, Seeking Alpha, Morningstar, Sesamm, Enin, and StockSnips
The Benzinga PRO Real-Time News Feed Platform Review
I have been using Benzinga PRO for 5 years now, the News platform is extremely configurable and able to run in multiple windows on multiple monitors.
In the screenshot below you can see how I have my Benzinga Pro interface configured.
- My Current Trades in the watchlist (middle white box)
- Important News Only – Top right columns in red I have configured to only show me the important potentially market-moving news which is a great feature.
- Instant Company Details Drill Down – Bottom Right for Financial News, Calendar & Charts
- Quick Access to Powerful Features – Stock Screener, Custom Alerts, Squawk Box and Chat (Left-hand side)
Benzinga Pro is extremely powerful yet easy to use which is often a difficult balance to strike and to top it all off they have also now added real-time price quotes to the service, so you can see when news breaks what the impact is on the stock price.
What Does Benzinga Cost & What Services Are Included?
Benzinga offers essentially 4 levels of service. Bezinga Free is available to everyone. Benzinga PRO Basic, Benzinga Essential and Benzinga Enterprise are paid for subscription products with different features and benefits. The rest of this review will show in detail what you get with each service level.
Benzinga Free Service
Benzinga is one of the major news providers you have probably never heard of. They do offer a huge amount of free news and thought-provoking original articles aimed and traders and investors for free on their website.
But if you are a serious trader or investor and especially if you are trading with the news, for example short-term options trades at quarterly earnings announcement time, or you have a large stake in a company and need to be the first to know if the stock might tank due to a failed FDA approval, then you will want to upgrade to the Benzinga PRO Service to get an edge in the market.
Benzinga PRO Basic & Features: ($79,- /month annually or $99,- /month)
I will run through all the features available in the basic package and show how they can help your trading.
BZWire Newsfeed Access
Core to the Benzinga PRO service is access to the real-time newsfeed which updates quickly and effectively. The only news excluded in the basic package are Securities & Exchange Commission (SEC) announcements and Public Relations (PR) newsfeeds.
Do not underestimate the newsfeed it is truly huge. But despite the depth of financial content being released every single minute the Benzinga PRO web-based applications is very fast, responsive and configurable.
The configurable nature of the newsfeed is what makes the service so great. I personally only want to see Market Moving Exclusives, Exclusives, Hot News, Market Updates & Tech and they are easily selectable.
There are 20 categories to choose from and each type of news can be color-coded to match your requirements.
Types of News Categories Available in Benzinga: Table 1
- Analyst Ratings
- Earnings & Guidance
- Insider Trades
- M&A – Mergers & Acquisitions
- Market Moving Exclusives
- Market Updates
- Short Sellers
- Small Cap
- Stock Splits
- Trading Ideas
You can also select to get the news delivered from Benzinga partners, this includes many different news corporations and online outlets such as the New York Times and even seeking Alpha.
Newsfeed Alerts – Alarms On Specific Sectors Or Categories
You can also choose to be alerted on specific categories in your newsfeed. For example, you can select to be alerted via email or via a desktop pop up and sound, if any hot news or market-moving news is announced. In fact, any of the categories above can be flagged for alerts. This is hugely beneficial for the trader so you do not need to constantly watch the newsfeed, you can be trading and hear the alarm as a call to action.
WatchList Trade Alerts – Alarms On Stocks That Matter To You
Another bonus is that you can set up as many watchlists as you wish and you can receive alerts on specifically those stocks in the watchlist.
You can get real-time email alerts, sound notifications and even summary emails for your watchlist.
Price Changes Since News Published
Benzinga prides itself on releasing news in time for you to react to a market move and profit. In December 2018 they just released a great new feature called Change Since Published. It is a very simple upgrade to the existing newsfeed, but I feel it demonstrates their continual innovation.
If you hover your mouse over any stock ticker in the newsfeed you will see a mini-chart appear. This enables you to see if the news had a positive or negative impact on the stock price. A very nice feature that I am sure will be further developed in the future.
In the example above, you can see an announcement that Cronos Group will receive a strategic investment from Altria, the stock moved 21% over the next 2 trading days.
Here is another example of how real-time news can impact the market. On December 11, 2018, President Trump announced that the Farm Bill is in “good shape”. Benzinga has categorized all potential companies that would benefit from a positive farm bill and grouped them into a “Change Since Published” report. Inside the chart you will see a vertical line or a Change Since Publish label, this vertical line is the exact time the news broke on the Benzinga newswire
As you can see of the 6 stocks that were targeted by Benzinga analysts 4 stocks are gaining since the news was released. That is an edge in the market.
Security SnapShots – All Company Data On One Screen
Unique to Benzinga is the Security Snapshot View, essentially a summary of all the important News, Fundamentals and Charts. It is designed to give you a clean quick view of the whole picture for a given stock. This includes all the core financial documents like balance sheet and important income statement information.
Benzinga PRO Basic Package Summary
So we can see the basic package already unlocks a lot of value, the real-time streaming newsfeed and the sources of news exclusively from Benzinga and from tier 1 partners. The real power is being able to filter the noise and focus on the important market-moving news plus getting alerted with the alarms service when it breaks. You get all this in the basic package.
In Summary, the Benzinga Basic Package is extremely cost effective and gives you access to real-time news at a fraction of the cost of other news providers like Bloomberg and Reuters, giving you a professional edge without the expense.
Benzinga PRO – Essential ($117,-/month or $147,-/month)
In addition to the features above, the higher level package includes some monster benefits.
Benzinga Calendar Suite – A Great Way To Visualize What Is Coming Soon.
Below we see the Benzinga Calendar, instantly you can see what macroeconomic news is upcoming, but what you also see in the “importance” column on the right is the potential impact of the news as rated by the market analysts at Benzinga.
As you open the filter on the right you can filter on anything from country, time, and especially the importance of the news. It is the granular level of filtering that enables you to extract all of the value out of the news by only seeing the potential market-moving news. This creates great value for the trader.
Analyst Upgrades & Downgrades Calendar.
People pay serious money for this kind of data. No matter what you believe in, Wall Street analyst upgrades and downgrades move markets. Imagine having this streamed real-time to your desktop. You have a column highlighting the company symbol, the analysts covering the stock, the analyst name and the action. In this instance, you see there is a downgrade for VNDA.
I dropped down the calendar selection box (on the right) to show you the different types you can choose from. The calendars cover everything including upcoming conference calls, dividends, earnings, economics, earnings guidance, IPO’s, retail sales, SEC filings, secondary offerings, and split announcements.
Full Real-Time Newsfeed Access
You get all of the features in the Basic package newsfeed, but in addition, it includes all Securities & Exchange Commision (SEC) news and real-time PR newsfeeds. These can be incredibly important because SEC/FDA announcements can seriously move stocks. Also, important company PR announcements are specifically timed to coincide or counteract the news, so receiving these as quickly as possible is a serious bonus.
Real-time Audio Squawk
This is really impressive, I have it open whilst watching the markets so I do not need to watch the screen constantly. Every 2 minutes a real-time audio feed announces the latest BIG news via my PC speakers, this service alone is worth the upgrade to Benzinga PRO Essential.
As I was writing this an announcement came through that Novartis got FDA approval for a new drug. I just checked online this is not on the web yet, nor announced on Bloomberg TV. Now that is an advantage worth paying for.
This is a really excellent feature that allows you to see the sentiment of the analyst who submits the news item, you see this in the color of the ticker symbol, red is bearish, green is bullish, this is unique and a great asset.
Chat with News-desk Feature
Imagine chatting directly with the analyst or reporter that submitted an article. This feature allows you to do just that, by questioning directly the Benzinga news desk to deep dive into your own specific questions straight from the hub of the news. The news team also highlight what they believe to be important news via the sentiment indicators (only for Benzinga Pro Essential users).
Benzinga Signals (BETA)
Another example of how Benzinga is continually innovating, the Signals setup creates a feed with block trade or price spike news that directly impacts a stocks supply and demand balance at a foundational level.
Let’s take a look at a block trade.
A block trade is a huge amount of stock either bought or sold. Block trades impact price, and you have the option of taking part in that price move or not depending on the direction of the trade.
This could be a trading strategy in itself. Watch the block trades roll in, observe the direction and make your trade. See a huge block trade sell, buy Put Options, see a block trade buy, buy calls.
Exclusive CEO comments
Benzinga Analysts have frequent exclusive interviews with CEO’s and they publish exclusively key comments that may provide key insights into a stock you own.
In Person Event Coverage
When Benzinga have a reporter at a live earnings announcement event you can hear directly from them. If you trade earnings this is your ticket to sitting at the event its self, getting analyst feedback as it happens, you do not need to wait for the earnings transcript.
Benzinga PRO Essentials Package Summary
As you can see the essentials service brings together a host of additional services that will be very valuable to those institutional investors wanting to take advantage of SEC filings, or those watching so many stocks they need squawk box functionality.
Is Benzinga PRO Worth It?
The audio news squawk feed, sentiment and chat with news-desk features are powerful upgrades in the Essentials Package. The powerful calendar suit and the new Benzinga Signals could also be huge selling points to the service.
Recommendation For Investors & Traders With A Smaller Portfolio.
If you have only $5,000 or $10,000 to trade or invest it does not make sense to go for the Essentials Package for $117– per month, this would eat up too much of your investment, so choose the Benzinga Pro Basic Package.
Recommendation For Investors With Larger Trading Positions
If you have a larger portfolio with significant individual short-term trades in specific stocks then you will want to know the news and sentiment before anyone else and have ringside seats to the corporate earnings announcements and rumors. In this case, you will want to go for the Essentials Package
If you are serious about trading in the stock market and need real-time access to the news that moves markets then Benzinga Pro is a realistically priced and extremely fast news service that is designed by traders for traders.
In this fast-moving world, this is an effective tool.
So, Benzinga may be a strange name for a business, but they are deadly serious about providing the best, fastest and most cost-effective real-time news service to give you an edge in the market.
Video: How Can Benzinga Pro Help Your Investing Profits?
This video shows why the Benzinga Pro service is a premium offering and a vast improvement on free news sources.