Stock screeners help investors zero in on stocks that fit specific criteria. These tools can really save time by filtering through thousands of stocks based on what you want.
Let’s take a look at the main types of stock screeners out there and how each one might fit your investment style.
Web-Based Stock Screeners
Web-based stock screeners run right in your browser no downloads needed. They’re convenient and accessible from pretty much any device with an internet connection.
Most web-based options offer basic filtering for free. Yahoo Finance, for example, has a popular screener where you can sort stocks by market cap, sector, price, and performance.
The platform lays out results in a tidy table. You can even save your filters to use again later, which is handy if you tend to look for the same things.
Finviz steps things up with more advanced screening. The free version gives you over 60 filters, covering both technical and fundamental categories.
If you pay, you get real-time data and some pretty slick charting tools. Finviz is also great for visualizing your screening results something a lot of people appreciate.
Web-based screeners update automatically as the market moves. That means you can track stocks throughout the trading day without refreshing or fiddling with settings.
Most web platforms also throw in news feeds and basic charts right alongside your screening results. For new investors, the low entry barrier is a big plus.
You can start screening stocks without needing any special software or much technical know-how. Many of these platforms even include educational resources to help you get a grip on different metrics.
But there are downsides. Free versions usually come with fewer filters and delayed data.
During busy market times, some web screeners slow down or lag. And, of course, you’re stuck if the site goes down or your connection drops.
Brokerage Platform Screeners
Brokerage platforms often include stock screeners as part of their trading suite. These tools connect directly to your investment account, making it easy to act on what you find.
TD Ameritrade, for instance, has the Stock Hacker tool. It offers both fundamental and technical filters, and you can customize the parameters however you like.
You can even build and back-test trading strategies based on your screens. The platform includes pre-built screens for different investing styles, which is nice if you’re just starting out or want some inspiration.
Charles Schwab’s screener has over 140 criteria to pick from. You can filter for things like dividend growth, analyst ratings, and ESG factors.
Results link straight to the research section so you can dig deeper on any company. And you can place trades directly from the screening results page, which saves a step.
Real-time data is a big advantage here. You get accurate pricing and volume info throughout the day, plus some proprietary ratings and analysis you won’t find elsewhere.
When you spot a stock you like, you can buy it with a single click. Brokerage screeners also sync with your watchlists and portfolio, so you can see how new picks stack up against what you already own.
One catch: you’ll need an account with the brokerage to use their screener. Some brokers also lock certain features behind minimum account balances, which can be a pain.
And honestly, these tools can get overwhelming for beginners. Sometimes you just want something simpler.
Desktop Software Screeners
Desktop software screeners install right on your computer. These programs tend to offer the most powerful filtering and customization options out there.
Professional investors often go for desktop solutions because of the speed and advanced features. Trade Ideas, for example, uses artificial intelligence to scan markets in real time.
The software spots patterns and potential trade setups as they emerge. You can set up custom alerts for specific price moves or volume spikes.
There’s also back-testing built in, so you can see how your screening strategies would’ve worked in the past. TC2000, on the other hand, is all about charting with integrated screening.
You can draw right on the charts to create visual filters. If you’re into custom technical indicators, the formula writing feature comes in handy.
TC2000 also syncs your watchlists across devices, which is surprisingly useful. Desktop screeners process data locally, so results show up fast even with complex filters.
You can analyze thousands of stocks at once without bogging down your system. Some desktop options even work offline if you’ve downloaded historical data.
Customization is a huge selling point. You can build your own indicators and screening formulas, or even automate trading systems if you know some programming.
Of course, there are trade-offs. Most quality desktop screeners aren’t free expect to pay a monthly or yearly fee.
They also come with a steeper learning curve. And you’ll need to keep up with software updates to make sure your data stays accurate.
Mobile App Screeners
Mobile app screeners run on your phone or tablet. They’re perfect for screening stocks when you’re not at your desk.
Most mobile options focus on simplicity and just the essentials. Stock Rover, for example, has a responsive mobile interface with some surprisingly powerful tools.
The app offers over 150 metrics for filtering stocks, and you can access your saved screens from any device. There’s also portfolio analysis built in, which is a nice touch when you’re on the go.
TradingView’s mobile app is another favorite. It includes technical filters and visual chart results, and you can share your screens with the community for feedback.
Watchlists sync between mobile and desktop, so you’re always up to date. Mobile screeners really shine when it comes to alerts.
You’ll get notifications when stocks match your criteria, which makes it easier to jump on opportunities. Many apps also send price alerts and breaking news straight to your phone.
The convenience factor is hard to beat. You can check market conditions and screen for stocks pretty much anywhere.
Most mobile screeners keep their interfaces simple and focus on the most important metrics, so things don’t get too cluttered. But there are some limitations.
You usually get fewer filtering options than you would on desktop, and the smaller screen makes it tougher to analyze lots of data. Some apps struggle with complex screening, and if you’re screening for a long time, battery drain can become a problem.
Specialized Industry Screeners
Specialized screeners zoom in on specific market segments or investment strategies. They offer filters built for particular investment approaches.
Dividend investors, growth investors, and value investors all get something out of these more focused options.
Dividend.com sticks to dividend-paying stocks. You can filter by yield, payout ratio, or even how fast a company grows its dividend.
It’s handy for spotting those rare companies that keep raising dividends year after year. The site also tracks ex-dividend dates, which makes planning a bit easier.
GuruFocus caters to value investors. The screener adds filters for margin of safety and intrinsic value estimates.
You can hunt for stocks that fit value investing principles. Plus, the platform tracks the holdings of some famous value investors, which is always interesting to peek at.
ESG screeners have really taken off lately. These help you find companies with strong sustainability practices.
You can filter by things like carbon footprint, board diversity, or governance ratings. Some ESG data providers go deep, offering more detailed metrics than generic screeners ever could.
Industry-specific screeners let investors zero in on sectors they actually understand. Healthcare screeners, for example, filter by clinical trial phases or FDA approvals.
Tech screeners can track patent counts or R&D spending. REIT screeners focus on stuff like occupancy rates and property types.
These specialized tools go deeper than general ones. They include metrics you just won’t find elsewhere.
Platforms like these often add industry news and analysis, which is a bonus. They’re built for people who want tools that match their approach, not just generic filters.
The downside? They’re pretty narrow in focus. If you want to cover different strategies, you’ll end up juggling multiple tools.
Specialized screeners can also cost more, thanks to the unique data they provide. And since they’re niche, the user communities are usually smaller, so support can be hit or miss.
Stock screeners come in all shapes and sizes. Web-based ones are easy for beginners to pick up.
Brokerage platforms hook right into trading accounts. Desktop software brings more power and customization, while mobile apps let you screen on the go.
Specialized tools, like the ones above, focus on certain strategies or sectors.
Honestly, the “best” screener depends on what you need and how you like to work. A lot of investors mix and match different types for different purposes.
If you’re just starting out, trying a free web-based screener is a solid way to learn. As you pick up skills, you can branch out into more specialized tools that actually fit your style.