Benzinga Pro Review
Ease of Use
Benzinga Pro is a real-time news streaming services packed with trade alerts, market screeners, audio alerts and much more. See how this stock market news platform compares to the competition.
About Benzinga Pro
Benzinga Pro is the real-time market news feed launched by the team at Benzinga. Benzinga is a well-known market news source that was originally founded in 2010 by Jason Raznick. While the main Benzinga site operates as a stock market news source (like CNBC or MarketWatch), Benzinga Pro operates as a news platform designed for fast-paces traders and investors who need access to the right information at the right time.
Keep reading our Benzinga Pro review to see if this is the right financial news platform for you.
|📈 Features||News Screener, Trade Alerts, Audio Squawk, Screeners, Trade Signals|
|⭐ Discounts||25% Off|
|✅ Best For||News-Driven Traders and Investors|
|🔁 Alternative To||TradetheNews, TheFly.com, Briefing.com|
Benzinga Pro Platform Features
Benzinga Pro is a web-based platform that will work on both Windows and Mac computers. The interface is simple, efficient, and easy-to-use.
Don’t let the fact that it’s web-based deter you because the platform is packed with features. Unlike some platforms that were designed for desktop use and later migrated to the cloud, Benzinga Pro was designed specifically for web use – and it shows. The platform is fast and well organized. This is actually one of the most efficient web platforms I’ve used in a while.
Ultimately, the platform’s functionality is simple. It offers a real time news feed with a lot of helpful features for traders. Let’s take a look at some of the platform’s features before we review the quality of the news itself.
Benzinga Pro allows traders to create multiple workspaces. Think of these as tabs within the browser tab. You can use these different workspaces to organize the different modules. For example, you may have a news feed workspace, a screener workspace, and a watch list workspace. The workspaces make it very easy to keep your workspace (pun intended) organized.
Each workspace can be organized even further by splitting content into different screen areas (i.e. halves or quarters). You can have up to four screens in each workspace, which can be helpful for active traders with less screen real estate. Even if you have multiple monitors, it’s definitely more efficient to split the screens.
One thing I really like about the platform is that it allows you to open modules as their own windows. When you open a new module, you can choose to open it within the workspace or as a new window. Once again, this is great for conserving screen real estate.
For example, I have one workspace that I use as more of a research tool for charts, fundamentals, and specific news. I also have Benzinga Pro’s streaming news set up as its own window. The streaming news is always present on my screen (as its own window), whereas the workspace is open in a tab that I rotate in and out of.
Themes & Settings
The default theme for the platform is dark, but you can choose between Dark, Light, High Contrast, and Antique. Personally, I think that the “Dark” theme is easiest on the eyes but some traders may prefer a lighter theme.
You can also change the text size and headline height for further customization.
The main feature of Benzinga Pro is its ability to deliver real-time news. The platform is designed to help traders get access to relevant financial news as soon as it breaks. That said, the tool is more than just a simple newswire and goes as far as offering trade alerts and an audio squawk box.
As part of our Benzinga Pro review, we wanted to look at the quality of the news and the features of the news feed to see how this tool compares to other financial news platforms.
Let’s take a closer look.
Benzinga Pro’s news feed is the gem of this platform. For the price, this is definitely one of the better news streaming tools available.
That said, it’s really important that you get your settings right. Think of this as your own personal news desk. If you want this news desk to be effective, you need to determine which stories and news sources you want to see.
The key to market news is actionability. You want to be able to find real time tradable news with ease. Every day trader has their own unique style of stock trading. If you use the “straight out of the box” settings, you will be overloaded with information. There are tons of different news alerts and many won’t be relevant to your trading style.
Of course, you can change the settings to filter the results. You can choose from sources, categories, and sectors. You can also choose to create newsfeeds for your own stock watch lists, which can be particularly beneficial if you build your watch lists strategically (i.e. separated by sector, price range, time frame, etc.). Here are the available filters:
- Benzinga Signals
- Benzinga Wire
- Jiji Press
- Partner Links
- Press Releases
- SEC Filings
- Transcript Summaries
- Market Moving Exclusives
- Analyst Ratings
- IPOs & Offerings
- Insider Trades
- Market Updates
- Short Sellers
- Small Cap
- Stock Splits
- Trading Ideas
Sectors (Each of which can be filtered into sectors within sectors)
- Basic Materials
- Consumer Cyclical
- Financial Services
- Real Estate
- Consumer Defensive
- Communication Services
To make this platform as resourceful as possible, choose a blend of filters that align with your trading style (i.e. Analyst Ratings in the Tech Sector).
Trading news streams in real time and color codes tickers and prices based on the day’s price action (red = down, green = up).
Additionally, you can set a variety of notifications and alerts, including audio news alerts, desktop alerts and email alerts. If you are a day trader who is staring at dozens of charts, level 2 screens, and scanners all day, the audio alerts are super helpful.
The Benzinga Pro newsfeed offers more than just news. You will also have access to other actionable information related to block trades, options alerts, stocks moving on volume, and more.
Of course, you can disable these if you want a pure news platform, but I found them to be beneficial. You can also customize these alerts to only show what you are interested in.
Unusual Options Activity
Benzinga Pro customers can get access to unusual options activity signals for an extra $28 per month. This tool offers real-time alerts for block trades and sweeps. You can also analyze the alerts in a calendar format to review historical activity.
Most day traders are focusing on ten things at once. It’s easy to neglect a certain window and miss out on an important move. To combat this, Benzinga Pro offers a “squawk box,” which is essentially an audio news feed.
The squawk box provides audio news updates in intervals throughout the day. It’s not a non-stop stream and it definitely values the quality of alerts over quantity. Think of this stream as CNBC minus all of the fluff. I actually really like this tool because it adds a new element to day trading.
At any given moment I have multiple stock trading platforms running and a minimum of 10 tabs open in my browser. Audio news alerts help me absorb more information without having to open another window. They also ensure that I don’t miss out on any breaking news that may impact the stock market or the individual stocks I am trading. Squawk coverage includes:
- Economic data news
- Market rumors
- Earnings news and guidance
- Press conferences
- Conference calls
- And more
While the main feature of Benzinga Pro is definitely the advanced newsfeed, the platform also doubles as a research tool. There are a few main ways I use the platform for research.
First, you can use the news search function to find relevant news. You’ll have to play around with a variety of searches to find the information you need but it’s very helpful once you figure it out (i.e. “acquire” delivered better results than “acquisition.”)
Second, I use the platform to get a quick “snapshot” of a stock. You can flip through real time quotes, company statistics, charts, financials, and more. Basically, it serves as a more refined Yahoo Finance, in this regard.
Lastly, I use the platform to stay on top of earnings reports. The platform offers a nice earnings calendar that is easy to analyze and sort.
The Benzinga Pro platform has a built-in stock screener that allows traders to find gainers and losers for intraday or daily time period. You can filter between gainers and losers and over the past 15 minutes, 30 minutes, or day. These results can be filtered even further based on stock price, market cap, and sector.
The Benzinga stock screener updates every minute and results can be filtered by metrics such as percent change, volume, and more.
The screener is a nice tool to have in one of your workspaces if you want to get a broader view of the market. You can see where the action is and find the most volatile and liquid stocks. That said, the tool doesn’t really compare to scanners like Trade Ideas and EquityFeed. It’s more of a market snapshot than a scanner (and results are not delivered in real-time)
Benzinga Pro Cost
Benzinga Pro offers straightforward pricing plans. You can choose the “Basic” plan for $99 per month, the “Essential” plan for $147 per month, or the “Options Mentorship” plan for $347 per month. You can save up to 34% by choosing an annual subscription. You can also start with a free trial to test out the platform.
If this is your first time signing up for a news streaming service, I recommend starting with the “Basic” plan. While you will be limited in certain regards (i.e. no audio alerts), you will save $78 per month and still have access to a lot of great tools. This will also give you some time to test out the platform and form an opinion.
More advanced traders who have used streaming news in the past and focus heavily on news and fundamental catalysts will probably prefer the “Essential” plan. I currently use the “Essential” plan and enjoy the additional features like the audio squawk and sentiment indicators. You can add unusual options activity alerts to this plan for $27.97 per month.
The “Options Mentorship” plan is best for traders who are trying to break into options trading. It includes access to a trading chat room led by Nic Chahine and comes with the unusual options activity add-on.
Benzinga Pro Discount Code
Use the code “DayTradeReview” to save 25% on any subscription.
What Type of Trader is Benzinga Pro Best For?
The Benzinga Pro platform is ideal for intermediate to advanced stock traders. Beginner stock traders will not be able to digest the sheer volume of information provided by the platform. If you’re simply looking for straightforward trade ideas, a service like Motley Fool would be more appropriate.
The platform best for day traders who require the “real-time” component of this tool and incorporate news into their day trading strategies. The platform has minimal value for traders who focus solely on technical analysis.
Benzinga Pro is an excellent platform for traders who incorporate news into their day-to-day workflows. This is easily one of the best news streaming platforms, and definitely the best browser-based news platform.
How Does Benzinga Pro Compare to Other News Services?
I’ve tested quite a few news streaming services at Day Trade Review (TheFly, Briefing.com, Tradethenews, etc.). After completing my Benzinga Pro review, I can confidently say this is my personal favorite news service. Many of the other services I tested felt outdated and clunky. Benzinga Pro offers a clean, easy-to-use platform with the added benefit of audio alerts throughout the day.
The pricing is also fair. The only question you need to ask yourself is, “do I need a standalone news service?” If news plays a big role in your trading, you can’t go wrong with this trading tool. At $99-$$177 per month ($79-$117 per month for annual plans), the service is very fairly priced. Of course, if news only plays a small role in your trading, you may prefer a hybrid scanner for both data and news (i.e. EquityFeed).
- Well-designed platform
- Customizable newsfeed with great sources and filters
- The browser-based platform works on any device and operating system
- Audio alerts are beneficial
- Simple earnings calendar
- Desktop and audio notifications
- The price difference between the Basic and Essential plan is steep, especially for traders who only want a few of the Essential features
- Maximizing the value of the platform requires customization