Ranked as one of the most popular stock screeners currently, FinViz has its good and not-so-good sides. Here’s a quick look at its ratings.
Why do we invest in the stock market? The answer is simple: to make money.
That should be the ultimate goal of any stock trader anyway.
To be successful in this trade, you have to invest wisely in the correct stocks so that you can minimize your losses.
This calls for steady research on the stocks before making a decision on which ones to invest in. The research may be so time-consuming that you may even end up lacking the perfect stocks to invest in.
In such cases, a stock screener would be a handy tool to enable you to narrow down your search.
One stock screener that has become quite popular lately is none other than FinViz. And in this extensive review article, we’d like to share with you all there is to know about it.
Is it worth the hype? Kindly stick around to find out.
What is FinViz? A Review
The name FinViz is abbreviated from the term FINancial VISualization, and this should give you a hint of what the service is all about.
This is a platform for researching the stock market, and traders and investors are going to benefit a lot from the technical and fundamental tools that the service offers.
The homepage is quite resourceful, and it is packed with charts, filters, news, screened stocks, social media streams and various stats. So, it should be easy for you to find information on stocks and futures that offer opportunities for profit.
Keep in mind that the information offered by this service can be overwhelming.
On top of everything, this is a free service although there is a premium package that gives users access to real-time data, fundamental charts plus there are no interruptions brought by adverts.
Why Invest in Stock Screeners?
The purpose of a stock screener is to help you narrow down the number of stocks so that you can settle for the one that suits your preferences.
You can decide to set the filtering process to be based on metrics defined by the user. Therefore, you can choose the stocks according to a particular set of criteria.
Some of the metrics that you could use to screen stocks include Dividend yields, Price and Market Capitalization.
Besides helping investors choose top-performing stocks over time, they could also be helpful in the execution of strategies.
Key Features of FinViz
In this section, we are going to break down what you are going to get when you subscribe to using this stock screening platform.
1. The Screener
Herein is the most crucial feature of this service, and it is the main distinction between FinViz and the competitors.
The interface is very user-friendly, plus it offers a degree of flexibility that is rare to find anywhere else. These impressive qualities are available to both the premium and free-mode users.
In this platform, you get to input the criteria in which your ideal stocks should fit. The requirements are based on several factors such as price, dividend yields, average volume, market capitalization, and so on.
You will only receive the stocks that meet these criteria.
The significance of the scanner is that it saves you a lot of time that you would have spent doing manual scans for the best stocks to invest in.
It also helps investors buy and sell stocks at the best times.
2. Heat Maps
You can find this feature on the homepage, and it offers users a birds-eye view on the major happenings in the stock market.
It is divided into different sectors such as healthcare and financial services, and you can view the maps of whichever group you are interested in.
If anything captures your attention, feel free to dig deeper into it.
The news section provides traders with quick headlines which are sourced from reliable news feeds such as CNN, Wall Street Journal, Bloomberg and CNBC.
On top of the news feeds, you will get blogs that stream from free sources such as Mish Talk, Daily Reckoning and Vantage Point Trading.
An important point to note is that you can source the news by time or source. This will enable you to find whatever information you were looking for more quickly.
4. Insider Sales Tracking
This feature aims to provide the trader with insider information to keep you on the same track as the insider traders on the company stocks.
Some of the insider information that you will find include top insider trading, top 10% Owner Trading Recent Week, the latest insider trading and so on. In this way, you will always be ready for the price changes that are about to occur.
Once the insiders start buying or selling stock, you will be on the right side of the trades.
5. FinViz Charts and Quotes
The users on the free mode will get access to delayed charts and quotes completely free of charge. On top of that, the trader can customize the charts to their preferred settings.
As for the premium subscribers, they will get access to more advanced features such as intra-day charts, real-time data, and back-testing.
The free users are the only ones who can access this feature and under the ‘Portfolio Menu’, that is where you can find all the assets that you are currently holding.
There is a link that allows you to monitor the futures market so that you get a hint of all that is happening in that world.
This is a discussion platform where the traders and investors interact and share ideas and tips. To use this platform, the members must be registered.
After that, they can create their channel or subscribe to the channels formed by other traders.
The forex tab allows you to monitor the movement of major currencies. On top of that, there is a relative performance chart that enables you to know the best-performing currencies.
When users access the store, they can find general information on the brokers, Trading Data, Major Financial Events, Research Sites and so on.
FinViz has three membership plans, and we are going to break them down for you.
I) Free Access Plan
The features that you would access in this plan include Quotes and charts, delayed maps (3-5 minutes), and delayed screening.
II) Registered Free Plan
The only requirement for this plan is that you register for it. After that, you will get access to:
- Limited screener results
- Daily charts
- Close to 50 screener presets
- Portfolio stickers
- Every other feature in the free access plan
III) Elite Plan
The last plan is the premium package, and it will cost you $39.50 for the monthly subscription and $299.50 for the annual subscription.
There is a discounted offer on the annual plan where the subscriber can save up to $100.
Once you subscribe, you will get access to advanced features such as real-time maps, correlations, price, rating, backtests, screen export, and so on.
On top of all, the Elite plan has no ad interruptions.
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Is It Legit?
From what we have seen, there is little to doubt with this service. First, there are two plans which are perfect for the newcomers who do not want to commit all their money in a new venture.
Even so, the Elite plan, which is the premium package is very affordable. And if you do not like what you get in the program, you can cancel your subscription and get a full refund of your money.
What more could convince you that this is not a scam?
Pros and Cons
Now, we are going to touch on the advantages and disadvantages of this service.
- Ideal for pros and novices
- Has a user-friendly interface
- Offers free insider trading
- The Elite Plan has a 30-day money-back guarantee
- The registered and premium members can save the watch lists
- The free plan is full of annoying adverts
- Information on the screen is enough to scare off a newbie trader
Final Thoughts on FinViz
If you are a new trader and you do not want to waste too much time on research, the FinViz Stock Screener would be a useful tool to invest in.
You can access some of its best features at no cost, and even if you go premium, the price would still be relatively fair.
So, why don’t you try it out? We honestly think that it’s worth the hype.