One of the most popular and practical research tools for traders is the stock screener. But is a paid subscription worth it? It depends on your level of trading experience and how often you trade.
A stock screener is a research tool that helps investors find stocks that match their search criteria. Investors can apply many filters to narrow their investment options. Common filters include stock price, market capitalization, price-to-earnings ratio, dividend yield, average volume and average return on investment.
The number and complexity of filters vary by stock screener. Some online trading platforms are equipped with screeners, but investors can access stock screeners through free or paid third-party providers available online or as desktop applications. While you don’t execute trades through a stock screener, it helps you identify stocks to add to your portfolio. The benefit of using the stock screener of an online trading platform is that you can conduct your research and trades in the same place — but not all trading platforms offer them. And even if your platform does offer one, it can be worthwhile to explore screeners from third-party providers, as they’re typically quite well-equipped.
To use a screener, choose the filters you want to apply and click to run the screener.
Here’s a rundown of the basic filters you’re likely to encounter:
Most stock screeners come with basic filters for buy-and-hold investors. But day traders and swing traders may benefit from more advanced screeners with financial and technical indicators to help identify stocks in play.
Free stock screeners are well suited to new investors. While typically not as sophisticated as their paid counterparts, they come equipped with all the essential filters a beginner needs to narrow down their investment options. Beyond offering limited filters, some free stock screeners don’t offer real-time data — a potential dealbreaker for day traders who capitalize on time-sensitive market shifts.
If you’re interested in exploring the market without the commitment of a monthly premium, consider the following free stock screeners:
Easy and intuitive for beginners, and powerful enough for advanced chartists
| Available asset types | Stocks, Bonds, Cryptocurrency |
|---|---|
| Stock trade fee | |
| Option trade fee | $0 |
| Annual fee |
Paying a premium for a stock screener may be worthwhile if there are specific search criteria you’d like to apply that you can’t access through a free screener. And unlike many of the free screeners, paid stock screeners typically offer data in real-time — which may be important for traders executing advanced strategies, like day trading. Many free screeners available offer premium tiers of service with a greater range of indicators. Whether or not the added cost is a worthwhile investment depends on your trading strategy and experience:
For investors who want to track data on the go, many screeners offer a mobile version of their software. Access these apps on your tablet or smartphone, with a scaled-back version of the desktop software. If you’ve paid for the premium version of the software, you may have access to more features and tools in the mobile app, but it depends on the software. Of the stock screeners listed above, the following offer mobile apps:
Most online trading platforms provide research and analysis tools for their investors. While the depth and breadth of these tools vary between platforms, many brokerages are equipped with stock screeners, including Ally Invest, Charles Schwab, Fidelity Investments, Firstrade and Webull.
Firstrade customizable trading platforms let you manage your account and trade from your desktop, iPad or mobile phone.
If online trading platforms offer stock screeners, why go to the hassle of signing up to access third-party software? Well, not all trading platforms offer them. And the ones that do may not offer screeners that have what you need. Find out if a stock screener is included in your brokerage’s research and analysis tools. If not, explore your options. Many traders rely on third-party software to perform research and use their trading platform exclusively to execute trades.
Our pick: Firstrade
Available asset types
Stocks, Bonds, Options, Mutual funds, ETFs
Stock trade fee
$0
Option trade fee
$0 + $0/contract
Annual fee
0%
Before you sign up for a stock screener, consider:
Stock screeners are an efficient way to identify ideal stocks for your portfolio. But there are other ways to narrow your investment options as well.
There’s no one size fits all approach when it comes to conducting investment research. Your best bet is to rely on a combination of these research tools to identify the right assets for your portfolio.
Stock screeners come in many shapes and sizes, with both free and paid versions designed to cater to new and advanced traders. The right research tool for your portfolio depends on your trading strategy and investment goals. Compare your brokerage account options across platforms to find the account that best meets your needs.
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Finder is not an adviser or brokerage service. Information on this page is for educational purposes only and not a recommendation to invest with any one company, trade specific stocks or fund specific investments. All editorial opinions are our own.
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