Benzinga Pro Review
Traders, investors and financial professionals constantly need the edge to outperform the markets, and this edge is often access to news and information as soon as it hits the market, along with detailed analysis.
Benzinga Pro is one of the most popular platforms with exceptional features and offerings. But what makes it stand out from others in the market? Is it worth subscribing to?
In this review, we try to take a closer look at Benzinga Pro functionalities, benefits, and limitations and compare it with other sites to help readers make an informed decision.
What is Benzinga Pro?
Designed to give you an edge in trading, Benzinga Pro is specifically catered to day traders looking for a powerful tool to stay on the top of the market. It started as a newswire tool based on the Benzinga data technology introduced in 2010 by Jason Raznick. The platform has ever since undergone evolution and embedded new features like a stock screener and community chat.
Benzinga Pro is a useful tool for traders and analysts who want actionable real-time news feed, powerful analysis, and latest features to figure out what is going on in the market at any time. It is a great application for active and trend traders as well as financial firms with affordable pricing plans and innovative features.
What Does Benzinga Pro Offer?
Benzinga Pro had begun as a news and events platform but the range of offerings has expanded greatly to include some of the newest features including a chat room, trade signals, and stock scanner. Let us look at some of the most impressive offerings of the service.
Workspaces
The most outstanding feature of Benzinga Pro is having control over what you see. User-designed workspaces allow deciding what you see at any time. You can easily configure different windows on the platform to suit your needs.
If you don’t want to spend time on customization, you can use one of the pre-configured workspaces. You can also choose some news stories and alerts to be highlighted automatically. Moreover, you can load multiple workspaces at the same time through tab navigation.
Real-Time News Feed
While it may appear like a standard news feed at the first glance, the Benzinga Pro news feed comes from its dedicated team and does not rely on other reporters.
You can customize the news feed based on events, companies, and sectors to take quick action on the story of your interest. Benzinga Pro news feed can not only be filtered but also searched for specific keywords and queries.
Newsletters
Benzinga delivers the latest news to your mailbox with a selection of daily newsletters that include pre-market outlooks, mid-day updates, and after-market roundups. These newsletters are an excellent way to stay updated in case you can’t visit the website every day.
A highly useful type of newsletter is the analyst rating that provides a summary of major changes in rating from the biggest analysts in the market.
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Calendar
Though not a major feature, the Calendar helps find information about events and news from the companies of your interest. It is a great tool for traders with a long watch list and covers events like Stock Splits, Earnings, SEC Filings, Analyst Ratings, and Dividend Payouts.
Scanner
The stock scanner offers day traders a choice of refresh intervals with a real-time option to suit active traders. It works for stocks and cryptocurrencies and has a filter feature that lets you define criteria like price range, sector, market cap range, and stock exchange. You can either choose from presets or define a new scan from scratch.
Screener
An innovative feature that Benzinga recently added, Screener is a basic stock screening tool designed to help investors and traders. It can be used to find the top winners and losers in the market. It offers 30+ fundamental and 20+ technical filters and five templates to view the desired results.
Chat Room
A go-to place for investors and traders, the Benzinga chat room operates nine channels in real-time to let users share their thoughts and insights with others.
Squawk Box
A powerful feature for busy day traders, Squawk Box delivers fast audio alerts to help stay on top of the latest news driving the market. This functionality is specifically aimed at short-term traders trying to absorb information from multiple charts at the same time.
Its Advantages & Disadvantages
Pros
- Customizable newsfeed
- Audio alerts and squawk box
- Browser-based technology
- Desktop notifications
- Exclusive stories
- Fast news distribution
- 14-day free trial
- Competitive pricing
Cons
- Covers equities only
- No real-estate trading
- Squawk coverage is not 24-hours
- Basic version may not cover useful features for day traders
Benzinga Options Mentorship Plan
This new plan was introduced in June 2021. The package included every Essential feature plus Options activity
You will receive Trading mentorship & education from leading trader Nic Chahine and access to the Options Inner circle chat room.
They provide 6 High-conviction options trades per month which include Entry, Stop information along with Fundamental & Technical analysis.
Regular market overview and ongoing options education.
Price : $457/month, $4570/year ( Save 17%)
Benzinga Vs The Competitors – How They Compare?
The main competitors of Benzinga Pro are Trade Ideas, Reuters Eikon, Bloomberg, and MetaStock Refinitv. While Benzinga Pro resembles its rivals in terms of offerings and speed of newsfeed, it beats most of them on pricing. At just $197 per month, the price of Benzinga Pro is almost half that of its nearest competitor Refinitv though the latter comes with more powerful stock chart analysis, forecasting, and other features.
Benzinga Pro is more affordable as compared to its competitors but focuses on actionable US news while Bloomberg, Eikon, and Refinitv provide worldwide financial newsfeed. Another difference is that Bloomberg requires a dedicated hardware terminal while Benzinga Pro is a browser-based service that runs on any device without any additional requirement.
Another premium trading tool is Trade Ideas that costs almost the same as Benzinga Pro. Both these services resemble in terms of features and offerings but Trade Ideas comes with trading strategy development and artificial intelligence-based functionality that Benzinga Pro doesn’t yet support. On the other hand, Benzinga focuses on real-time newsfeed and radio feed. Another strength of Benzinga Pro is the free trial option that most competitors don’t offer.
Conclusion
Benzinga Pro is an excellent tool for day traders and investors who want fast access to the latest news in the market. The combination of newsfeed, analysis, stock screener, and scanner enables you to act quickly on the events to gain an edge in trading. You can also save your workspaces, create multiple workspaces and scroll through them like browser tabs.
Benzinga Pro also has a responsive support team that answers any concerns quickly. It is a complete newswire solution with value-adding capabilities at an affordable price. You can try its features with the 7-day free trial before subscribing and find out whether it appeals to you.
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