• Features
  • News Alerts
  • Ease of Use
  • Value

Summary is a well-known news alerts service for news traders. They offer breaking news and research for active traders. How does this news platform compare? Read our review to find out.

About The Fly

The Fly is a financial news congregator. Their main goal is to report and explain the news impacting stocks. With offices in New York, New Jersey, and Argentina, their edge as a news service is in their reporting team. They offer similar services and compete with products like Benzinga Pro and Trade The News. In this article, I’ll try to explain how The Fly compares to those services, and the value it offers relative to its industry.

The Fly Pricing Options

The Fly Pricing

The Fly has two membership tiers, with their basic plan consisting of only news feeds, and their Full Access plan offering a squawk box, and additional, less noteworthy features like an events calendar. Unless listening to a squawk box is part of your daily trading routine, you can easily get by with just the Basic plan.

Breaking News

Breaking News is the inaugural page of The Fly. This is the page you pay the bulk of your Basic membership fee for.

Here’s what it looks like at a glance:

The Fly Breaking News

As you can see, The Fly uses visuals effectively to quickly convey information. This is a smart move, especially when viewed in contrast to the other news feeds like Trade The News and Benzinga Pro, which can look like a big wall of text at times.

Moving on, there are three main news filters: Market Stories, Street Research, and Events. From there, you can narrow the Market Stories and Street Research filters down even more with sub filters.

The Fly News Filters

Sub-filters like Hot Stocks, General News, Earnings, Tech(nical) Analysis, and Options are self explanatory and included in every news feed. However, the Rumors, Periodicals, and Syndicate sub-filters deserve a closer look, as these are the type of news events that don’t show up in your free news feeds.


While the name itself is obvious as to it’s meaning, you’re probably asking: “what type of rumors are they reporting?” I will allow The Fly to answer that, as they did in their FAQ:

Why does The Fly report on rumors?

The Fly, in fulfilling its mission of explaining stock movement, often comes across the many unconfirmed rumors being passed through trading desks and social media platforms. On the occasion that rumors or speculation appear on The Fly’s news feed, it should be viewed not as giving credence to the conjecture, rather as simply highlighting its impact on the stock prices of the companies involved.”

Here’s an example of a rumor posted by TheFly back in June about the Abercrombie & Fitch stock:

Fly on the Wall News Rumors


The name of this filter is a bit confusing, but it simply refers to notable stories in the mainstream media. The key here is that the reporting is not done by The Fly’s staff, so they don’t necessarily condone or stand by the stories themselves, but their main goal is to explain and report information that is currently moving stocks.

Here’s two examples of postings from Periodicals:


This filter refers to syndicate finance, which is usually when a public company goes to a bank to handle a large financial transaction. Initial public offerings, secondary offerings, block trades, and pricings are examples of these.

Here’s a few examples of this filter in play. As you can see, events like these can be huge catalysts for stocks. Consider how much a dilutive secondary offering would affect a stock’s price. You’re going to want to be in the know for this type of stuff.

Fly on the Wall News Syndicate

On The Fly

On The Fly is The Fly’s daily market overview, driven by their exclusive insights and reporting. The goal of the page is to either inform you of what happened in today’s market, or to prep you for tomorrow’s market open.

You’ll see a list of companies reporting earnings tomorrow, a breaking news feed, trending stocks, market commentary, market movers, and previews of tomorrow’s trading day.

Here’s what On The Fly looks like:

On the Fly

Fly Cast

Market Audio News

The Fly Cast is The Fly’s audio squawk box. This is usually the most useful feature of a news feed for an active trader. Depending on their level of activity, many active traders cannot look at a news feed because they’re busy watching their charts, order flow, and stock screeners. Having a sophisticated reporter in your headphones announcing market catalysts and news is a huge value add for some traders. Others just can’t pay attention to a text-based news feed.

Calls made on the Fly Cast are made to make it as simple and quick as possible. One has to keep in mind, that speed and efficiency are the main reasons why traders have a service like this in the first place. Calls are made on the squawk box before they’re published on the text-based news feed. Those few seconds can serve as a definable edge for many aggressive traders.

Closing Thoughts

The Fly exists in a space where it’s difficult to differentiate yourself from the competition outside of price. Traders tend to commoditize these types of services and simply go for the cheapest one. Given that fact, let’s compare prices of these services.


  • Trade The News: PRO Equity Membership (news feed + squawk box) – $350/month


  • Benzinga Pro: Essential Membership (news feed + squawk box) – $249/month
  • Full Access (news feed + squawk box) – $65/month



Having used all of these services at length, to me, they all serve the same basic functions. I personally like the Trade The News layout the best, and thought Benzinga Pro’s News Desk feature was awesome, you can contact the news desk with a question about a stock’s price move, and they’ll try to hunt down why the price moved the way it did.

In terms of speed, I never lined them up against each other, but my guess would be that Trade The News and Benzinga Pro would have a slight speed edge, simply because their higher per month price permits them a higher budget. However, these slight speed edges only matter to the most active of day traders, of which I’m not.

To me, the dramatic price difference between these services don’t justify themselves for a trader at my level, so I stick with The Fly, at a very reasonable $65 per month.