Scanz (EquityFeed) Review
- Pricing & Software
- Trade Management
- Company Fundamentals Screening Integration
- News Services
- Technical Analysis – Charts, Indicators & Drawing Tools
- Stock Systems, Backtesting & Robotic Trading (Automation)
- Ease of Use
User Review( votes)
Scanz Review Summary
Scanz is a real-time newsfeed and stock screening application designed for day traders. Scanz is able to scan and screen the entire U.S. stock market in real-time to enable traders to find short term technical trading situations.
- In-Built Technical Stock Scanning
- Good Broker Integration For Trading
- Well Organized Real-time News Engine
- Very Easy To Use + LII Data
- Dollar Volume Live Streaming
- Very Good News Streaming
- A Little Pricey
- No Social Community
Recommended for Day Traders, who want a super simple and slick workflow, real-time streaming charts & news and unique Level II data, Dollar Volume Information & broker integration.
With their slogan “Find It, Trade It, Profit,” Scanz is considered a solid tool for Day Traders. However, with the advent of TradingView, the largest trading community platform Scanz has fierce competition.
Pricing & Software: 3/5
Scanz specializes in providing real-time data and news fast directly to your screen. Scanz has a high price point of $149 for the full news and scanning package, but you do get a lot for your money, as we will explore later in this review.
Data speeds are excellent, and it has excellent U.S. data coverage, including extensive Over The Counter markets (OTC: BB, OTCQX, OTCQB, OTCPINK, GREY)
Trade Management: 4/5
Scanz has introduced the “Chart Montage” functionality, enabling an ultrapowerful way of trading off the charts.
This single window contains a wealth of critical trading information, including real-time streaming news, level 2 data, including time and sales. Also, Scanz is the only software to offer Dollar Volume data.
The Scanz Team has integrations to your broker to enable trading directly from the charts, saving you time while trading. Broker integration is enabled for TD Ameritrade, Interactive Brokers, two of the brokerage world’s powerhouses, and more are planned.
Fundamental Scanning & Screening: 4/5
Scanz contains many technical and fundamental filters to screen on. But what is the key for days traders? With the ability to scan entire markets for liquidity and volume patterns to find volatility, you can trade for a profit. This makes the Scanz unique offering.
A top placing and definitely worth mentioning this year is the deal news section in Scanz. I really like the simple implementation; you can get the low down on contracts and deals struck between companies. This can give you an edge if you can quantify the deal’s impact on the companies bottom line.
Scanz also has a strong focus on the news, but it is let down by having no social integration.
Technical Analysis: 3/5
In third place in this round, Scanz/EquityFeed does not offer as many chart patterns or chart indicators as its competitors, but it does not have to. Most people will only use 5% of the indicators available, and fortunately, Scanz covers all the important ones. The power here is in the technical analysis screening, which is very fast, seamless, and flexible.
Stock Systems & Backtesting: 2/5
Scanz is not designed for backtesting, which is a shame, especially at this price point. But it is designed to help you streamline your day trading system. Plenty of off-the-shelf technical and liquidity scans greet you on opening the program. The great thing is they all operate in real-time, so they continue to update.
Ease of Use: 4/5
In the development process, Scanz has opted to keep everything on the surface super simple and intuitive to use. However, don’t be fooled by the power underlying the streamlined interface, which in a few clicks, you will be viewing Level II liquidity data and buying directly from the charts.
I have been extremely impressed with the progress Scanz is making in its product and carving out its day trader niche.
With great ease of use, an excellent way of managing real-time news, and extremely powerful scanning, Scanz is highly recommended. Add to this the broker integration options with Interactive Brokers and TD Ameritrade, and you have a robust package.
Scanz Review Summary
Scanz is unique because it offers Level I/II streaming price, volume, and dollar volume data. Also, it offers fast news scanning, including SEC filings, which is excellent. While Scanz is a solid product offering, it is somewhat limited in its scope, and for the premium price point, one might expect more.
If you are looking for software that is able to scan the entire U.S. and Canadian stock markets in real-time, then I would strongly recommend TC2000, our review winning software.
Alternatively, if you are looking for the best real-time news service, you should investigate Benzinga Pro.
Finally, if you what a great mix of screening, charting, and a strong social trading community, then TradingView is something you should check out.