Thousands of businesses trade publicly across the world at any given time. Although many investors opt for index funds, others seek to outperform the market by choosing individual stocks. However, this will pose an important question for investors looking to purchase individual stocks: how do you determine which ones to buy?
This is where free stock screeners are of service.
Stock screeners use a combination of filters and your requirements to funnel your selection from hundreds of stocks to a select few. The more stringent the scanning filters, the stronger the screener’s ability to help you find the exact stock you’re looking for.
However, scanning for new stocks does not have to be a time-consuming process. The stocks scanner should be able to browse thousands of stocks swiftly. Besides, as there are a number of free stock screeners in the market, including google stock screener, finding the best stock screener is indeed a challenging task.
To help you, we’ve compiled a list of the top three best free stock screeners, which will allow you to efficiently screen the stocks.
What Should An Ideal Stock Screener Include?
A perfect free stock screener should include the following filters and search criteria.
- Country or region
- Market capitalization (cap)
- Stock exchange
- Target price
- Dividend yield
- Price-to-earnings ratio
- Trading volume
- Earnings per share
Top 3 Best Free Stock Screeners in 2021
TradingView is an online stock picker and screener that is suitable for both novice and active, seasoned traders. The platform’s versatility has helped it remain a popular stock screening platform among active traders and financial software companies.
This free stock screener includes a variety of cloud-based charting tools for analysis and allows users to communicate and interact with other online traders. TradingView’s most impressive features include a completely functional mobile app, a diverse set of screening requirements, the ability to incorporate custom scripts, and much more.
TradingView excels when it comes to the range of securities and investments it offers. For example, it includes international stocks and funds from around the world, allowing you to compare American and foreign stocks using the same free stock screener software. It also offers users access to cryptocurrencies and currency exchange comparisons in addition to international securities.
Without having to sign up, you can begin screening stocks and ETFs to familiarize yourself with the many choices available. You can even sort stocks with precision using over 140 fundamental and advanced filters. Moreover, you can quickly move between stocks and ETFs if you just want to look at stocks.
Another factor that makes TradingView one of the best free stock screeners is its revenue model. It is a Freemium service that offers both free and premium options. While the free edition contains commercials, it also includes the majority of the features.
However, You’ll need to pay for a paid subscription to use the real-time scanner and export data. Though, they offer a free 30-day trial, and premium accounts start at $15 per month.
2. TD Ameritrade
TD Ameritrade is one of the larger online brokers in the United States, providing a full-service online broker experience that is ideal for both beginner and seasoned investors.
The comprehensive educational offerings help new investors gain confidence and empower them to branch out into different asset classes as their skills develop. At the same time, the ThinkOrSwim platform of this free stock screener provides advanced investors and traders with all of the analysis, charting, and tools they need to identify market opportunities.
Regardless of where you fall on the spectrum, you’ll get a wide range of investment forms and account types, making the TD Ameritrade a good choice if you want to expand your partnership with other accounts. Needless to say, it’s easy to get overwhelmed by the amount of research and services available on this free stock screener.
Investors can easily access account data, balances, balance background, positions, news, and more on TD Ameritrade’s traditional website, which has been optimized for mobile browsers. The well-designed mobile apps with extensive functionalities are intended to provide users with a simple single-page interface that allows them to monitor their accounts and the stock prices.
Besides, the paperMoney feature of this free stock screener is especially notable because it allows you to practice trading with fictitious money. For online equity or ETF trades, TD Ameritrade does not charge a commission. However, OTCBB trades are subject to a $6.95 transaction fee.
Finviz is one of the simple and best free stock screeners to use and ideal for new traders. You won’t need to know any advanced scanning terminology or Wall Street insider buzzwords to get started. The menu is simple to navigate, and many of the options you’ll want to use are organized in drop-down menus.
It has an excellent free option for using their scanners, but they also have a subscription option if you want access to some of their more sophisticated tools.
However, advanced investors and traders may find its screening filters inflexible. Finviz’s inability to simultaneously pick multiple stocks within the same filter area is a significant flaw. For instance, you can’t choose two economic sectors. You can select either one or all, but not just a few.
However, other features & filters of this platform makes it one of the best stock screeners.
Individual stock choosers and day traders require more complex data analysis than buy-and-hold investors. To filter through the hundreds of stocks on the global market, they’ll need exceptional screeners. If you’re new to the game, we recommend that you begin with a free stock screener software like Finviz or TD Ameritrade. You can use more rigorous screening tools like TradingView as your expertise and experience expand.