For traders, having access to the right stock market news at the right time is crucial for successful trading. Finding the best stock market news platform is not easy and choosing the wrong one can be an expensive mistake.
This is because, most of them are super expensive and the longer you stay with one that does not deliver on its promises, the more you lose opportunities. One of the most popular stock market news service is Benzinga Pro and the company boasts of being the most actionable research tool out there.
Okay, before we go any deeper into Benzinga Pro, I want to make one thing clear: If you don’t already have a lot of extra MONTHLY cash, you aren’t ready for this program! Why do I say this? First, you need to have cash to buy the program AND a significant amount of extra MONTHLY money to start trading with after that. Do not invest money that you can’t afford to lose. Look up Dan Lok’s wealth triangle. It is basic financial advice: 1) Build a business or get a job that makes you a significant surplus every month (like thousands of extra dollars monthly). 2) After you are making $10,000 per month, then, you’re ready to dive into investing.
That’s why I recommend building a profitable business FIRST. It is easier than you think. Doing this is less work, less risky, and less expensive, than investing. IN FACT, our recommended solution below even works for teenagers! They do the whole thing via email, no phone calls required. Click here to get a Free Video On This Business Model. I’ve been doing this for almost 20 years. My own kids are using this course to setup autopilot businesses online that require very little ongoing work.
Here’s a video of my daughter’s business using this :
The course my daughter used above is much better than Benzinga Pro. But since you are here to learn about Benzinga Pro, lets get back to our review of that:
Bezinga Pro claims to provide the fastest newsfeed in the game. But is this really true? Has their platform provided great results for traders? This article is here to answer these questions.
Who Created Benzinga Pro?
The company is founded by Jason Raznick, he is quite an entrepreneur. He started companies when he was still in school at the University of Michigan. He featured in several publications including CNBC, New York Post, and Wall Street Journal. He was named in Crain’s Detroit Business 40 under 40 and was also listed in DBusiness 30 in Their 30s.
Jason loves to invest in startups and also build cool products. He also loves to help people achieve what they otherwise thought was impossible.
Jason founded Benzinga in 2010 to provide news, data, and education that makes it easier for people to attain financial success.
What is Benzinga Pro?
Benzinga Pro was created for modern, creative investors who need the news to help them make informed decisions. It is ideal for people who just want all the accurate information promptly so that they can take control over their investment decisions.
How Does Benzinga Pro Work?
The platform combines real-time news feeds, stock screen, chat room, and stock and options alert into a single tool. All the features have been mentioned below.
The platform has a dedicated news feed that is similar to standard ones like MarketWatch. The good thing is that this platform does not depend on other news feeds to bring you the news. They have a dedicated news desk so they can bring the news faster.
You have the option of filtering your feed so that you only get the news you care about. There is also an advanced news feed filtering feature that allows you to fine-tune your feed even more. You can filter news based on share volume and pricing data for a specific stock exchange. This feature is still in beta testing.
Every investor has access to a separate workspace where they have control over what they see first. They can customize this workspace however they want. But if you do not have the time to customize your workspace, you can stick to the pre-configured one which still helps you to highlight alerts as they come. There is also an option to create multiple workspaces.
This helps you to access breaking news and how they have influenced the stock prices of companies. Thus, you get to know how a company reacts to certain breaking news and this can guide you on the kind of investment move to make.
This feature is most beneficial to day traders since they need extremely fast alerts. The alerts come in an audio form and traders can listen while still looking at their charts. The information is in real-time and they get delivered before they start making waves on social media.
You can get access to scheduled events and announcements by companies you follow in advance using the corporate calendar. You can view events such as SEC filings, earnings, stock splits, analyst ratings, and dividend payouts. You can also view a range of parameters for past, current, and future events.
You will have these newsletters delivered to your inbox so that you can keep up with mid-day updates, after-market roundups, and pre-market outlooks.
The platform also comes with integrated charts and they support minutes, hourly, daily, weekly, and monthly time frames. You can view data using chart types including bar charts, hollow charts, candlesticks charts, Area charts, HLC charts, and several other charts.
How Much Does Benzinga Pro Cost?
There are three pricing options; Basic Plan, Essential Plan, and Enterprise Plan. The Basic Plan costs $27 per month and it gives you access to the live news feed and alerts.
The Essential Plan costs $197 per month and you get access to all the important features. The features include a squawk box, calendar, live news feed, and personal account management. Unlike the Basic option, the Essential Plan has an annual payment option which costs $166.42 per month.
The Enterprise plan is reserved for investment groups with specific needs. There is no price listed and that means, you can only get a quote after talking to a team member about your group’s needs.
There is also Options Mentorship which gives you access to everything you get in the Essential Plan plus trading mentorship from Nic Chahine, a leading trader. You will also get access to a private chatroom, a regular market overview that is consistent with Nic’s strategies, and unusual options activity. Unusual options activity is a tool that gives real-time alerts for blocks and sweep trades.
The company offers a 14-day free trial. During this period, you will get access to a newsfeed with no filters, charts, Movers, and watchlists. There is no refund policy if you opt-in after the trial period.
Is Benzinga Pro Worth It?
The platform has a lot to offer and fortunately, you can test it out without spending a dime. The platform offers credible news through its trusted news team and deep analytics for you to make an informed decision. If this is what you are looking for, go for it.
The reviews on Trustpilot are also overall great. Some reviewers commented about the supportive customer service and the value the platform provides to traders. Another reviewer compared the platform to other popular platforms they have used such as Trading View, and Trade Ideas, and said Benzinga is the best of them all. He also mentioned how much his success rate increased with the quality stocks he got from Benzinga.
But some reviewers also mentioned that the information they got was not accurate (see screenshots below).
The bottom line is that, if you can afford it, you should invest in more than one platform, because even the most up-to-date platforms can sometimes get it wrong. But Benzinga is definitely worth the try. Good luck with your investing!