No one can day trade without a strategy. And often, these strategies often involve a resource intensive stock screener. We all aren’t developers here so sometimes we may need to rely on third party software to guide us in the right direction when trading stocks. I have decided to compile a list of the 3 best stock screeners I have personally used in my trading career. Keep in mind some of these may be expensive, but they are all easily worth it in the end. Make sure to read our disclaimer of use before signing up to any of these products!
Finviz is incredibly easy to use. Their screener is developed so that even the traders that aren’t the most technologically advanced can simply choose from a list of drop down menus to screen to their liking, and be given a list of the top stocks based on their criteria. The best part about it? Finviz has a free option if you aren’t a crazy advanced trader. But be aware that this version of their screener involves delayed data. If you need fast and up to the second updates on stocks, you need to upgrade to their elite package which will run you about $39.50 a month.
StockRover is the screener that I currently am using right now, mainly because of its ability screen Canadian stocks. Day traders can dive into the multitude of technical and performance based filters they have, and trust me, there is so much information here that if you try to soak it all in you may be sent into data overload. StockRover is expensive at $249.99 a year, but the subscription is well worth it. My ROI would be a hell of a lot lower if I didn’t use this screener, and the $249.99 is paid back tenfold by the end of the year.
Because we are a Canadian site, naturally I am going to be a little biased towards Canadian Stock Screeners. Although I do not use this screener currently, for someone who is looking to trade strictly Canadian based stocks, this is the screener to use hands down. TMX screener is relatively new, and although it isn’t nearly as powerful as the ones mentioned above, it’s the best you’re ever going to get for Canadian securities. The best part about it? It is 100 percent absolutely free.