Hence, it’ll have you looking for the best resources and tools to find stocks to buy or sell, keep up with company news, and everything else that affects stock prices.
Therefore, first, find the best stock scanners. Secondly, set the sorting criteria. A screener asks you a few questions to determine your needs. These may include questions like whether you prefer large or small-cap stocks.
What is a Stock Screener?
It’s an automatic filter that goes through voluminous data. As a result, it helps you track companies that interest you. Hence, filtering data with a screener is faster than what a person can do manually.
But this doesn’t mean that you depend on the software entirely. It reduces the workload, but you also have to do a bit of research. Plus, some data is historical. Thus, it may not reflect the current status in the market.
In addition to going through thousands of stocks on your behalf, using stock screeners for day trading has these other benefits.
- You have control over the results by setting the criteria of the screening engine. It’s better than relying on opinions and data from financial blogs and publications.
- A screener depends on a database. Using it makes the work more accurate than searching for stocks on a random search engine online.
What are the Best Stock Screeners of 2023?
Your choice depends on your investment style. Let’s look at the following options. Some are free, and others have annual subscription fees.
It’s one of the popular screeners because it’s available as a free tool. Another reason you may hear about it is that TD Ameritrade is a brokerage. Hence, more day traders and investors find this tool more suitable because it comes from a stock expert. On top of that, you can use it to screen stocks, EFTs, mutual funds, and options.
You’ll have over 70 metrics to vary the data you analyze.
- Developed by a brokerage
- A variety of metrics
- Free scanner
- Sorts various investment options
- Less than 100 metrics
A highlight of using this screener is the variety of screening metrics. You have over 100 metrics, including one for stocks that yield more than 6%. Some metrics, such as data points, cater to many investors, not only day traders.
Unfortunately, it doesn’t have a free version. But when you subscribe, you have access to more resources. For example, you can check stock ratings and research.
- Numerous metrics
- Suitable for various investor types
- Offers stock ratings and financial market information
- No free version
It stands out among the others on this list because of its range of metrics. You’ll have over 650 screening metrics. Plus, there’s a free platform for limited screening for beginners.
Day traders find the technical indicator a bit limiting. However, if you also invest in buy-and-hold, you will benefit from Stock Rover’s fundamental analysis.
Further, you can connect this screener with your investment brokerage account. It’ll then rate your portfolio on various factors like growth.
- Various subscription plans
- A wide range of metrics
- Links to a brokerage account
- Portfolio analysis
- Limited metrics in the free version
If you’re looking for the best stock scanners for day trading, you may want to look at Trade Ideas. It’s an AI-driven platform that also has a live trading room. The filtering process uses technical and social data in real time.
In addition, Trade Ideas connects to various exchanges and brokerages, so you can move from filtering to live trading fast. There’s a free version, but if you want the AI tool and automatic trading features, get the paid version.
- Linked to various brokers
- Live trading
- Custom features
- U.S. and Canadian exchanges only
To make it as a day trader, you make decisions after looking at stock prices, company histories, and many other factors. Thus, it makes sense to use a platform that gives you regular news alerts when something significant happens. Benzinga gives you everything. It has market news and stock data. As such, it suits swing traders.
The only drawback is its screener has about 30 metrics. Also, you have to pay for a subscription to use even the basic screener.
- Diverse market news
- Real-time alerts and announcements
- Two subscription options
- Pricey for a beginner
- Low metrics count
It’s a good option if you’re looking for global day trading. This stock screener filters financial, economic, and fundamental data. You’ll also have robust charting features built using HTML5 technology. One reason it’s different is that traders and software developers designed it. They came up with a platform suited to international investors.
Unlike other screeners that promise more screening features when you upgrade, the Pro+ and Premium don’t have that. But it gives you a better charting function in the Pro version.
- There’s a free trial
- Access to global stocks data
- Charting features
- Lacks sufficient historical data
It’s among the tried and tested screeners because TC2000 is over two decades old. You can use it to filter options and ETFs, and you have over 100 metrics to sort market data.
Unlike other screeners accessed on a web browser, TC2000 is one of the best stock scanners because you can download a web or mobile version.
Additionally, this award-winning platform has various premium plans if you need more features. The free version targets students.
- A simple screening process
- Filters options and EFTs
- Diverse screening criteria
- Filters companies in the U.S. and Canadian exchanges
Zacks Investment Research
Of course, if you’re starting as a day trader, you might be skeptical about letting the screener software do the work for you. Hence, you might opt to start with free stock screeners.
ZACKS has a free version that filters the extensive database using various metrics. Plus, you can customize the criteria for precise results. This popular stock screener also lists extensive earnings per share.
- Best free stock screener
- Affordable premium plan
- Hundreds of metrics
- Diverse stock database
- Basic technical screening