What is Benzinga.com and Benzinga Pro? How Does Benzinga Pro Work?
Benzinga.com is a financial news site much like CNBC, MarketWatch, and the Wall Street Journal. The site was founded in 2010 by Jason Raznick and has since evolved into a leading financial news source. Benzinga currently attracts over 25 million readers per month.
Benzinga Pro is a premium service tailored to the needs of active traders and investors. It offers a browser-based suite of exclusive content and robust trading tools, including customizable newsfeeds, watch lists, scanners, calendars, alerts, and more. Thanks to their high-speed, actionable newswire, coupled with a strong collection of tools for in-depth technical and fundamental analysis, Benzinga Pro empowers individual traders and investors through the availability of supreme information, news, and data.
The primary goal of the Benzinga Pro platform is not to share specific investment advice, but rather provide the fastest and highest-quality information so that you can make the most informed and timely decisions as possible. Overall, Benzinga Pro offers a ton of market-driving news and helpful tools, so those who use the platform effectively are able to capture outsized profits. The best part of all is that your BP workspace can be built, filtered, and customized to fit your own unique preferences and overall trading style.
What is a Stock Newsfeed or Newswire For Beginners?
For those just getting started in the stock market, it’s critical to understand the importance of market-moving news.
There’s no doubt that certain events, data releases, and other news items can drastically impact the price of a stock, sector, or possibly even the entire market. These days, even simple tweets by influencers, celebrities, or politicians about healthcare, cryptocurrencies, or other hot topics can potentially have immense impacts on the market. So if you can receive important information in a timely manner, then you can better position yourself ahead of significant stock, sector, or market movements.
These types of events, like earnings reports, analyst upgrades/downgrades, FOMC data releases, initial public offerings, mergers/acquisitions, SEC filings, stock splits, and more, are known as catalysts. When paired with other forms of technical and fundamental analysis, these catalysts can help form strong trade and investment plans. On the whole, technical and fundamental analysis are certainly meaningful, but breaking news can supercharge short-term volatility, resulting in larger potential profits.
In my personal experience, one of the best traders I’ve ever seen had a strategy that involved locating strong catalysts within the biotechnology sector, along with bullish chart patterns and fundamentals, to turn a five-figure account into a seven-figure account within just a few years. This sort of thing is not typical, but possible with the right information, data, and tools.
How to Use Benzinga Pro – Top 8 Benzinga Pro Platform Features:
The Benzinga Pro platform offers a ton of great features to help traders and investors achieve market-beating returns. But this isn’t a platform that you can simply power up and be immediately ready for action. You have to customize and filter it to your individual preferences and trading style. Otherwise, the default settings on the newsfeed will overload you with far too much information.
You want the news you’re receiving to be timely and relevant to your trading style. Benzinga covers the timely part, but it’s on you to filter out the noise and distinguish what’s relevant. The good news is that there are numerous filters and customizations available. In fact, you can create multiple workspaces with differing newsfeeds, signals, calendars and watch lists for varying strategies.
1. BENZINGA PRO NEWSFEEDS
The fast, reliable newsfeed is arguably the best feature of the platform. And the best part of all is your ability to customize what information gets delivered to you based on your individual needs. You can filter by source, category, sector, or even specific watch lists that you’ve created. The functionality is also available to color-code based on your preferences and search the entire newsfeed by specific keywords. If for some reason a stock is moving and you can’t figure out the exact news event driving it, you can even contact the News Desk to put a team of Benzinga analysts on the job – this is an incredible level of support for individual traders.
2. BENZINGA PRO WATCH LISTS
There’s nothing particularly special about a platform offering the ability to create watch lists – almost every trading platform and brokerage offers this standard capability. But what sets Benzinga Pro apart is the ability to link personalized watch lists to customized newsfeeds, calendars, signals, and alerts. Instead of digging through tons of information and having to sort through the noise on your own, you can limit your news and data to information solely related to the stocks you’re interested in monitoring.
3. BENZINGA PRO MOVERS/SCREENERS
A commonly used tool is the movers scanner, which allows you to filter out the biggest market gainers and losers by session, period, sector, market cap, and stock price. Once you run the scan you can freeze it to avoid updates, otherwise it will automatically update every minute. In addition to the movers tool is a full-on screener, which can help you find stocks tailored to your personal trading style. The screener offers numerous technical and fundamental filters similar to the one available at Finviz.
4. BENZINGA PRO DETAILS
The details tool allows you to perform due diligence on potential stock trades. It provides the name of the company, ticker, quote, market cap, float, financial ratios, key data, list of similar stocks, overview of what the company does, and even candlestick charts. If you dig deeper, you can view the company’s actual balance sheets, income statements, SEC filings, and press releases. Certain stocks will also have a “Why is it Moving?” section that quickly explains the reason behind a short-term price movement.
5. BENZINGA PRO CALENDARS
In order to keep track of critical events and position your portfolio accordingly, there are over ten calendar options to choose from. These bits of critical information allow you to pinpoint exact times and information related to guidance, earnings, analyst upgrades/downgrades, economic data, IPOs, dividends, mergers/acquisitions, SEC filings, stock splits, secondary offerings, and more. This can all be filtered down to show only the specific types of information you want to see for a chosen day or date range.
6. BENZINGA PRO SIGNALS
Signals include unusual options activity, block trades, price spikes, halts, opening gaps, new highs/lows, and more. By tracking unusual options activity and block trades, for example, you can identify actions representative of large institutional investors. Because when the “smart money” makes “big bets” it’s usually worth paying attention to. In general, institutional investors have far more education, information, and resources than the average retail trader, so them placing a large, aggressive, or unusual trade is meaningful.
7. BENZINGA PRO SQUAWK BOX
One of the most useful features on the platform for active day traders is the live audio squawk. Instead of having a text newsfeed taking up screen space and stealing your attention during market hours, you can turn on squawk for live market updates. This is extremely convenient for when you’re trying to concentrate on chart setups and monitor level 2. There’s only so much multi-tasking you can do without missing out on opportunities. This is where squawk shines – streaming only the most critical news in audio form.
Benzinga Charlie is the Voice of Squawk and Reports on:
- Breaking News
- Economic Data
- Market Rumors
- Earnings & Guidance
- Press Conferences
- And More
8. BENZINGA PRO ALERTS
Another way to free up screen space or divert your attention to something else during market hours is to set up real-time alerts. There are 3 main types of alerts you can set up: email, desktop, or audio. The best part of all is that you can customize them based on the type of notification you’re receiving. For example, you can set up news alerts to be one specific sound, while unusual options activity alerts can be an entirely different sound. This can allow you to immediately distinguish the type of alert before even seeing it.
Pros and Cons of Benzinga Pro:
There are so many advantages to the Benzinga Pro platform that I could’ve easily filled the pros column below with double or triple the bullet points. But the most useful pro of all is the free 2-week trial that allows you to test the entire platform on your own. Don’t just take my word for it that Benzinga Pro offers the best stock market newsfeed – try it out for yourself.
Even though there are tons of pros, there are also a few cons worth mentioning. The most important one, which was mentioned earlier in the review, is that the newsfeed has to be filtered and customized to your specific needs. Without applying any filters based on your personal trading style, you’ll simply be overloaded with information. While timely and relevant information is great, too much information at once can be detrimental. So make sure you filter and customize your Benzinga Pro workspace effectively.
How Much Does Benzinga Pro Cost and is it Worth it?
There are two main subscription options – Basic and Essential.
Basic offers newsfeed, watch lists, movers, details, calendars, and alerts for $99 per month or $948 per year (which breaks down to $79 per month – 20% savings). Essential offers everything within Basic plus sentiment indicators, signals, squawk, and news desk. This is the most popular offering for $177 per month or $1,404 per year (breaks down to $117 per month – 34% savings).
There’s also a fairly new subscription offering called Benzinga Options Mentorship. This includes everything within an Essential subscription plus access to the options inner circle, exclusive webinars for ongoing education, and personal mentorship from Nic Chahine. The cost for this is $347 per month or $3,468 per year (breaks down to $289 per month – 17% savings).
Overall, I recommend starting with a free 2-week trial in order to get a feel for the platform before spending any money on it.
How Does Benzinga Pro Measure Up to the Competition?
BENZINGA PRO vs. BLOOMBERG TERMINAL
When it comes to delivery of real-time news within the financial industry, Bloomberg Terminal is the gold standard. Since 1981, Bloomberg has been providing unparalleled coverage across all asset classes – equities, forex, commodities, derivatives, etc.
Bloomberg Terminal is a complete all-in-one software system that offers breaking news, powerful analytics, communication tools, and execution capabilities. This means that your research and even the execution of trades can all happen within the platform.
But the cost is a whopping $24,000 per year (which breaks down to $2,000 per month). At over ten times the cost of a Basic or Essential Benzinga Pro subscription, Bloomberg Terminal is far out of reach for the average retail trader.
The Bloomberg Terminal might be more robust, but the price simply can’t be justified unless you’re a large institutional trader or investor. So from the standpoint of value for price, I don’t know of a better option for retail traders than Benzinga Pro.
Other Benzinga Pro Reviews and Testimonials:
If you’re interested in checking out other reviews and testimonials related to Benzinga Pro, you can read hundreds of them on TrustPilot. But as with any product or service, you’ll always find a mix of rankings from one to five stars. Many people will say the platform is “outstanding” and “fantastic”, while others will say that it’s “terrible” and “worthless”. So how do you know who to believe?
The fact is that anybody else’s review or testimonial can only take you so far. Your personal experiences can end up being far different from others based on your individual trading style, the way you choose to use the tools, and a host of other factors. This is why I like when services offer a free or low cost trial period, which Benzinga Pro does. Try not to take any single review or opinion too seriously. If you think the tools and features might help your trading, go experience and test them for yourself 100% free.
I’ve been running this website far too long not to notice all of the bogus reviews out there for various trading programs, platforms, and services – both positive and negative. You simply can’t trust what everybody has to say online. It’s great to do some initial research to see what the overall sentiment looks like, but the most meaningful review you can do is the one you do yourself – based on your own unique circumstances, experiences, and preferences. Outcomes can vary drastically from one user to the next.
5 Recommendations For Beginners Considering the Benzinga Pro Platform:
So many times, I see new traders paying for subscriptions to newsletters, alert services, scanners, chat rooms, and many other programs with expectations of automatic success. But just because you pay for some amazing tool, it doesn’t guarantee positive results.
I use this analogy all the time, but subscribing to a top-rated trading service is much like paying for a top-level gym membership. The gym can offer all of the best trainers, fanciest equipment, and have a tremendous amount of success stories, but none of that matters without your own personal effort. Merely joining the gym produces no positive results – it’s just the start. It still requires hard work and dedication on your end in order to achieve your desired results and make the most of your experience.
- Check Out the Top 10 FAQ on This Site to Learn More About Day Trading, Swing Trading, Alert Services, etc.
- Take Advantage of the List of Free Resources That I’ve Put Together From Various Platforms Based on Personal Experience
- Go Through a Dedicated Traders Mindset Course in Order to Build the Proper Foundation For Long-Term Market Success
- Utilize the Benzinga Pro Free 2-Week Trial to Test the Platform Based on Your Own Personal Preferences and Style
- Combine the Benzinga Pro Free Trial With a Paper Trading Platform Like TradingSim For a 100% Risk-Free Experience
Another huge element of trading success is self-awareness and self-control. But this mental component routinely gets downplayed and ignored, even though it’s the foundation for durable trading success. Unfortunately, for most traders it takes many months if not years before they take the psychological component of trading seriously. And as a result, they put themselves through so much unnecessary emotional and financial pain. But it just doesn’t have to be that way if mindset is given the proper attention right from the start.
Conclusion – Does Benzinga Pro Offer the Best Real Time Stock Market Newsfeed?
Benzinga Pro offers powerful market insight. Having a platform that allows you to combine a fast newsfeed with strong technical and fundamental tools can be the difference between profits and losses. When you understand right at the beginning of a move why that stock is moving, you can better allocate your capital and position your portfolio for success. Earnings announcements, unemployment data, unusual options activity, and block trades are all forms of actionable data to increase your profit-potential.
It’s extremely hard to quantify if Benzinga Pro is the absolute fastest newsfeed in the game, but it’s certainly at the top of the list. Bloomberg Terminal might offer a slightly faster newsfeed and cover more asset classes, but the steep price makes it an unrealistic option for the vast majority of retail traders. For less than 10% of the cost, Benzinga Pro subscribers can receive exclusive information, data, and tools all under one roof. The valuable tools and reasonable price point make it the best newsfeed for retail traders.
The end result is that a platform like Benzinga Pro can make you a far more informed trader or investor. While trading and investing based solely on technical or fundamental analysis can work, there’s no doubt that breaking news can trump all of that other data in a matter of minutes. Overall, Benzinga Pro is solely focused on serving traders and investors with superior information and tools.
Please share your personal thoughts and experiences with Benzinga Pro or any other market newsfeed in the comments section below.
Written by Matt Thomas (@MattThomasTP)
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