Is Finviz The Best Backtesting Software?

Jeremy BiberdorfBy: Jeremy Biberdorf

October 20, 2023October 20, 2023

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The stock market can be unpredictable. But with the right tools, you can make sense of it all. One such tool that has caught the attention of traders and investors is Finviz. But is Finviz the best backtesting software out there? Let’s check out our Finviz review.
Learn More About Finviz

What Is Finviz?

Established in 2008, Finviz (Financial Visualizations) is an American stock market data analytics platform that has become instrumental for investors and traders who focus on US markets. At its core, Finviz aims to provide leading financial research, analysis, and visualization to its vast user base. Over the years, the platform has garnered attention for its diverse set of tools which range from stock screeners and research utilities to news aggregation and portfolio management features.

Finviz offers one of the best stock screeners functionalities. This feature allows users to filter stocks based on a myriad of descriptive, fundamental, and technical criteria. The output of this screener can be viewed in several ways, such as charts or maps, giving investors a holistic view of the market dynamics. Furthermore, the platform also integrates news feeds, which curate the latest headlines, giving users timely insights into the ever-evolving financial market.

Beyond stock screening, Finviz offers tools for portfolio tracking, monitoring executive stock transactions through its insider tools, and tracking futures, forex, and crypto prices and charts.

Free vs. Elite: Which is Better?

Finviz is a renowned stock market research platform providing three tiers: a free unregistered version with limited access, a registered version offering more features, and a premium Elite version. But which one best suits your needs?

The Free Plan

  • Stock Screening Tools: These tools are powerful, allowing users to filter based on fundamentals, technicals, and descriptive data.
  • Sector Maps: Displays market cap-weighted performance.
  • News Feeds: Company-specific news updates.
  • Portfolio Tracking: Allows tracking and organization of your stocks.
  • Basic Charting Tools: Although they’re static and may lack some advanced features, they provide essential data for analysis .
  • Target Audience: The free version is suitable for casual investors, but might be overwhelming for absolute beginners.

However, there are some drawbacks:

  • Some delays and limitations.
  • Lacks real-time data.
  • No access to advanced tools like backtesting.

The Elite Plan

  • Real-time Market Data: Offers up-to-the-minute market data updates .
  • Advanced Charting: Interactive charts with more overlays and indicators compared to the free version.
  • Backtesting: Enables testing trading strategies on historical data spanning 24 years using over 100 indicators.
  • Alerts: Notifications for price moves and critical news.
  • Correlation Analysis: Helps in identifying stocks that move in tandem.
  • Cost: The Elite subscription is priced at $39.50 per month or $299.50 annually.
  • Target Audience: The Elite version caters more to active traders and experienced stock analysts, offering real-time data and advanced analysis tools.

The broad range of features offered, both in the free and paid versions, alongside its mission to deliver top-notch financial research and visualization, make Finviz a reliable and comprehensive toolbox for anyone keen on understanding and navigating the intricate world of stock markets.

Who is Finviz For?

This platform primarily focuses on the US markets, presenting an abundance of both fundamental and technical tools suitable for investors spanning all experience levels. Casual users and professional investors alike find value in their best stock charting apps, financial data, charts, and statistics offered freely by Finviz.

Its functionalities, like the stock screener allowing filtration based on a myriad of financial metrics, sector-specific market maps, and insights into insider trading activities, resonate with long-term investors, swing traders, and even those just setting foot into the investing realm.

While Finviz might not encompass every tool needed by day traders, it certainly stands as a valuable asset for individual investors, traders, and financial professionals. By and large, whether you’re an amateur dabbling in the stock market or an analyst from a major financial institution, Finviz serves as an indispensable tool in your financial analysis arsenal.

Is Finviz The Best Backtesting Software?

Finviz is renowned in the investment community as a stock screening, research, and visualization platform centered predominantly on US markets. But, is Finviz the best backtesting software? Let’s dive in.

  • Stock Screening Capabilities: Finviz’s stock screener allows users to filter stocks based on descriptive, fundamental, and technical criteria. This enables users to uncover potentially undervalued stocks, identify stocks at new highs/lows, and detect those with unusual volume activity.
  • Data Visualization: Finviz offers heatmaps to visualize market performance and has tabs for different analyses like fundamentals, valuations, and technical indicators.
  • Real-time Information: Finviz provides real-time stock quotes, market statistics, financial data, and much more. It also covers news headlines, futures prices, bond yields, forex rates, and economic reports and calendars.
  • News Aggregation and Feeds: Stay updated with tailored news, news feeds, and aggregated content pertinent to your stock searches and portfolio.
  • Additional Elite Features: The premium option, Finviz Elite, provides some of the best stock charting software, strategy backtesting, intraday charts, technical studies, correlation analysis, and more.

While Finviz offers robust features for stock analysis, its backtesting capabilities are particularly beneficial for intermediate-level traders and investors. Whether it stands as the absolute best requires one to factor in individual needs, but it certainly ranks high among its competitors.

Is Finviz The Best Backtesting Software: Final Verdict

While it might not be the singular best in every dimension, when it comes to backtesting, its prowess shines particularly bright for those who opt for the paid Elite version. In the world of stock market analytics and visualization, Finviz undoubtedly holds its ground and is worth the investment for those seeking advanced features and comprehensive market insights.

Selecting a trusted platform can make all the difference in optimizing your trading strategies. Ready to take your stock market insights to the next level? Explore Finviz today and discover how it can redefine your investment game.
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Jeremy Biberdorf
Jeremy Biberdorf

About the Author:

Jeremy Biberdorf is the founder of Modest Money. He's a father of 2 beautiful girls, a dog owner, a long-time online entrepreneur and an investing enthusiast.

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