Finviz vs thinkorswim 2023: Which stock screener is best for you?
The world of investing has grown more complex, and so has the need for sophisticated tools to navigate the financial landscape. Two such platforms are Finviz and thinkorswim, which offer a range of features and resources for investors to make informed decisions.
In this Finviz vs thinkorswim review, we will compare the two platforms, examining their strengths and weaknesses in terms of investment strategy, features, pricing, and user experience. By the end of this review, you will have a clear understanding of each platform and be able to determine which is the better fit for your investment goals.
|Finviz is Better for:||Thinkorswim is Better for:|
|User-Friendly Interface||Advanced Technical Analysis Tools|
|Free Stock Screener||Professional-Grade Trading Platform|
|Quick Stock Market Overview||In-Depth Research and Analytics|
As you evaluate Finviz and thinkorswim, consider the unique features and tools each platform offers. Depending on your investment style and objectives, one platform may be more suitable for you than the other.
|Service Type||Stock screener, news, charts, maps, portfolio tracking||Trading platform with stock screening, technical analysis, and paper trading|
|Fees||Free and Premium ($39.50/month or $299/year)||Free|
|Customer Support||Email support for Premium members||Email and phone support|
|Best Use||Day traders and swing traders who need real-time data and news||Active traders who need a robust trading platform with advanced tools|
|Modest Money Overall Rating|
Factor 1: Investment Strategy
Finviz focuses on screening and technical analysis
- thinkorswim offers advanced charting and trading tools
- Finviz provides an easy-to-use platform for beginners
- thinkorswim is geared toward more advanced investors
Finviz, short for Financial Visualizations, is an online platform that focuses on providing stock screening, technical analysis, and portfolio management tools. It is designed for investors who want to identify investment opportunities quickly and easily. The platform allows you to filter stocks based on various criteria, such as market capitalization, industry, and performance.
The platform also offers a wide range of charting tools and technical indicators that help users analyze stock trends and make informed decisions. Finviz is ideal for investors who are new to the market or those who want an easy-to-use platform that provides essential screening and technical analysis tools.
thinkorswim, on the other hand, is a comprehensive trading platform developed by TD Ameritrade. It offers advanced charting, trading, and research tools that cater to more experienced investors. Users can access a vast array of technical indicators, customizable charts, and studies for in-depth analysis.
In addition to stocks, thinkorswim supports trading in options, futures, and forex. The platform also offers paper trading, allowing users to practice their trading strategies in a risk-free environment. Overall, thinkorswim is a powerful platform for advanced investors looking for a comprehensive suite of tools and resources.
Factor 2: Features
Finviz offers stock screening and heat maps
- thinkorswim provides customizable charts and studies
- Finviz has a news aggregator and insider trading data
- thinkorswim offers paper trading and risk analysis tools
Finviz offers a wide range of features that cater to various investment styles. Its stock screener allows users to filter stocks based on over 60 criteria, including financial ratios, performance metrics, and technical indicators. The platform also provides heat maps, which visually display the performance of various sectors and industries.
Finviz includes a news aggregator that compiles the latest financial news from major sources, keeping users informed about market developments. In addition, the platform offers insider trading data, helping investors identify potential opportunities based on insider activity.
thinkorswim boasts an impressive array of features that cater to more advanced investors. Users can customize charts with various studies and drawing tools, creating a tailored analysis experience. The platform supports trading in various asset classes, including stocks, options, futures, and forex.
One of thinkorswim’s standout features is its paper trading functionality, which allows users to practice their trading strategies without risking real money. Additionally, the platform offers risk analysis tools that help users evaluate their portfolio’s risk exposure and make adjustments accordingly.
Factor 3: Pricing
Finviz has a free version and a paid subscription option
- thinkorswim is free to use for TD Ameritrade account holders
- Finviz Elite offers additional features for a monthly fee
- thinkorswim provides advanced tools at no additional cost
Finviz offers a free version of its platform, which provides access to basic features such as the stock screener, heat maps, and news aggregator. For users who want to unlock more advanced features, Finviz offers a paid subscription called Finviz Elite. The Elite subscription costs $24.96 per month (billed annually) or $39.50 per month (billed monthly).
With Finviz Elite, users gain access to real-time data, advanced charting tools, additional screening options, and email alerts. This subscription tier is ideal for investors who want a more comprehensive experience with access to advanced tools and resources.
thinkorswim is free to use for TD Ameritrade account holders, with no additional fees for accessing its advanced trading tools and resources. Users can enjoy the platform’s comprehensive suite of features, including customizable charts, technical indicators, and risk analysis tools, without incurring extra costs. This makes thinkorswim an attractive option for investors looking for a powerful platform without additional expenses.
Finviz vs thinkorswim: Our Summary
While both Finviz and thinkorswim offer valuable tools and resources for investors, Finviz emerges as the winner in this comparison for several reasons.
Finviz’s focus on stock screening and technical analysis makes it an excellent choice for investors who want an easy-to-use platform that provides essential tools for identifying investment opportunities. Its user-friendly interface and extensive screening options make it accessible to both beginners and experienced investors.
Furthermore, Finviz offers a free version that provides access to basic features, making it an attractive option for those who want to try out the platform without committing to a paid subscription. For users who want to unlock more advanced features, the Finviz Elite subscription offers additional tools and resources at a reasonable price.
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While thinkorswim is a powerful platform with a comprehensive suite of advanced tools, it caters more to experienced investors and may be overwhelming for beginners. Additionally, its free access is limited to TD Ameritrade account holders, which may be a drawback for some users.
In conclusion, if you’re looking for an easy-to-use platform with powerful stock screening and technical analysis tools, Finviz may be the better choice for you.