Scanz Review: Is This Stock Scanner Worth $197/Month?

Quick Verdict

Scanz is worth $197/month for active traders who execute multiple trades weekly and need real-time scanning to find opportunities before the crowd. The platform delivers professional-grade tools—unlimited custom scans, Level 2 quotes, real-time news feeds, and alerts across all U.S. markets from 4 AM to 8 PM EST. But at $2,364/year (monthly) or $1,970/year (annual), it only makes sense if you’re trading frequently enough that finding stocks 30 seconds faster actually impacts your P&L.

For buy-and-hold investors, beginners without a defined strategy, or anyone trading less than a few times per month, Scanz is overkill. The 14-day free trial lets you test whether the speed advantage translates to real dollars in your account.

What Scanz Actually Does

Scanz is a real-time stock scanning platform designed for one purpose: helping active traders find opportunities faster than they could manually.

Think of it as a radar system for the stock market. Instead of manually checking dozens of stocks, you define your criteria—price movement, volume spikes, technical patterns, news catalysts—and Scanz continuously monitors every stock on NASDAQ, NYSE, AMEX, and OTC markets, alerting you when something matches.

The platform evolved from EquityFeed, which launched in 2002 and originally focused on penny stock trading. Over two decades, it has expanded into a comprehensive scanning platform covering all U.S. equity markets with over 10,000 tradable securities.

The Core Value Proposition

Active traders face a fundamental problem: there are thousands of stocks, and the best opportunities often last minutes, not hours. By the time you manually find a momentum play, it’s often already extended.

Scanz aims to solve this by:

• Scanning all U.S. markets in real-time (not delayed 15 minutes like free tools)
• Alerting you the moment stocks meet your criteria
• Providing the data (Level 2 quotes, news, charts) to make quick decisions

The company claims some traders “report getting into stocks an average of 28 seconds after news hits.” That speed advantage is the entire value proposition.

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What You Get for $197/Month

Scanz operates as a single-product company with no tiered plans. Every subscriber gets full access to everything:

Scanning Tools

Pro Scanner: Build unlimited custom scans using 100+ variables including price action, volume, technical indicators, and fundamental data. This is the power user tool—you can create complex multi-condition scans that would be impossible to run manually.

Easy Scanner: One-click market overview showing all active stocks in real-time. Good for getting a quick pulse on market activity without building custom filters.

News Scanner: Real-time news feed aggregating 100+ sources including press releases, financial blogs, and SEC filings. For momentum traders, news is often the catalyst—getting it seconds faster can mean better entries.

Breakouts Module: Automated signals for new highs/lows, price/volume breakouts, and block trades. Pre-built detection for common momentum patterns.

Market Data

• Level 2 Quotes: Real-time order book showing market maker activity—essential for reading supply/demand before entering
• Time & Sales: Real-time trade log showing every transaction
• Extended Hours: Pre-market (4 AM) and after-hours (8 PM EST) scanning
• OTC Coverage: Full penny stock data included (many platforms charge extra)

Alerts & Execution

• Unlimited Alerts: Set price, volume, technical, news, and SEC filing alerts delivered to desktop and email
• Unlimited Watchlists: Organize stocks by strategy or sector
• Broker Integration: Connections to Interactive Brokers and Charles Schwab (formerly TD Ameritrade) for faster execution

Pre-Built Scans

70+ scans designed by professional traders covering common setups: gappers, momentum plays, dead cat bounces, moving average crossovers, volume spikes, and more. Useful for learning what variables experienced traders prioritize.

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How Scanz Compares to Alternatives

At $197/month, Scanz sits in the professional tier of stock scanning tools. Here’s how it stacks up:

Scanz vs Trade Ideas

Trade Ideas is Scanz’s closest competitor at $999/year. Trade Ideas emphasizes AI-powered scanning with their “Holly” system that suggests trades. Scanz is more traditional—you build the scans, the platform executes them. If you want AI assistance, Trade Ideas may be worth the premium. If you have your own strategy and just need speed, Scanz delivers at roughly half the annual cost.

Scanz vs Finviz

Finviz Elite costs $299/year—significantly cheaper than Scanz. But Finviz is primarily a visual screener and heat map tool, not a real-time scanning platform. Finviz works well for end-of-day analysis and finding stocks to research. Scanz is for intraday traders who need real-time alerts and Level 2 data.

Scanz vs Free Tools

Free screeners from Yahoo Finance, TradingView’s basic tier, or your broker’s built-in tools work fine for casual investors. But they typically have 15-minute delayed data, limited filtering options, and no real-time alerts. For buy-and-hold investors, that’s not a problem. For day traders, 15 minutes might as well be 15 hours.

The Pricing Math

Let’s be direct about whether $197/month makes financial sense.

The Annual Cost:

• Monthly billing: $2,364/year
• Annual billing: $1,970/year (save $394)

The Breakeven Question:

If Scanz helps you find one additional winning trade per month that you would have otherwise missed—or helps you avoid one bad entry by showing you Level 2 weakness—the tool pays for itself.

For a trader with a $50,000 account risking 1% per trade ($500), one additional 1:2 risk-reward winner per month generates $1,000 in profit. That’s 5x the monthly subscription cost.

But here’s the honest caveat: Scanz doesn’t make you a better trader. It makes a good trader faster. If you don’t have a profitable strategy, faster scanning won’t help. You’ll just lose money more efficiently.

The Real Question:

Are you trading frequently enough that speed matters? If you’re making 2-3 trades per week and your strategy depends on catching momentum early, $197/month is a reasonable business expense. If you’re making 2-3 trades per month, the math doesn’t work.

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The Credibility Question

Scanz doesn’t publish verified performance data—and they shouldn’t. A scanning tool isn’t a stock picking service. The results depend entirely on how you use it.

What they do have are endorsements from well-known trading educators:

• Nathan Michaud (Investors Underground): Has used the platform for over a decade, calls the scanners “an essential part of my trading toolkit”
• Tim Grittani: States he’s used “Scanz/Equityfeed for most of my trading career”
• Jeff Williams (Raging Bull/Atomic Trades): Uses Scanz “every day all day” and calls it “the best scanning service available”

These are real traders with public track records. Their endorsements carry weight—though they may also have affiliate relationships with Scanz.

The company has been in business for 20+ years (originally as EquityFeed), which provides some stability assurance. They claim over 100,000 active retail traders have used their technology.

The Fine Print You Need to Know

Before you start the free trial, understand these terms:

No Refunds: Scanz explicitly states all sales are final. No refunds for any reason, including:

• Forgetting to cancel
• Unsuccessful cancellation attempts
• Being unaware of auto-billing

This is stricter than most competitors. If you’re unsure, use the full 14-day trial before your card is charged.

Auto-Renewal: Both monthly and annual subscriptions auto-renew. The trial auto-converts to a paid subscription on day 15 unless you cancel.

Cancellation: Cancel via your account dashboard or email [email protected] before your next billing cycle. The company requires proof of cancellation email if you cancel via email—screenshot your cancellation confirmation.

Data Disclaimer: Service is provided “as is.” Scanz is not liable for data accuracy, timeliness, or service interruptions. This is standard for data platforms, but worth noting.

Who Should Use Scanz

Scanz is built for:

• Active day traders who execute multiple trades daily and need real-time data to catch momentum early
• Swing traders who scan for setups during market hours and want alerts when conditions trigger
• Penny stock traders who need OTC data (included at no extra cost)
• News-based traders who need to see catalysts seconds after they hit
• Traders with defined strategies who know exactly what they’re looking for and just need to find it faster

Scanz is NOT for:

• Buy-and-hold investors — You don’t need real-time scanning to buy quality companies and hold for years. Use free tools or Morningstar Investor for research instead. See our Morningstar Investor review for details.
• Beginners without a strategy — Faster scanning won’t help if you don’t know what to look for. Learn first, then consider tools.
• Casual traders — If you trade a few times per month, $197/month doesn’t make economic sense. Finviz at $299/year or free broker tools will suffice. Check our Finviz Elite review for the comparison.
• Options traders — Scanz focuses on equities. For options-specific scanning, look at OptionsPlay or Option Alpha.

Pros and Cons

What Works

• True real-time data — Not 15-minute delayed like free tools
• Level 2 included — Many competitors charge extra for order book data
• Extended hours coverage — Pre-market and after-hours scanning from 4 AM to 8 PM EST
• OTC data included — Penny stock coverage without additional fees
• Unlimited everything — No caps on scans, alerts, or watchlists
• 20+ years in business — Platform stability and continuous development
• No upsells — One price includes all features

What Doesn’t

• No refunds — Stricter policy than most competitors
• High monthly cost — $197/month adds up fast if you’re not actively trading
• No mobile app — Desktop only (Windows/Mac)
• Learning curve — Building effective custom scans takes time
• No AI assistance — Unlike Trade Ideas, you build all scans manually
• Broker integration limitations — Direct execution options limited to select brokers

Best Alternatives to Scanz

If Scanz isn’t the right fit, consider these alternatives:

For AI-Powered Scanning

Trade Ideas ($999/year) offers AI-assisted scanning with their “Holly” system that suggests trades based on historical patterns. Higher price, but less manual work building scans. See our Trade Ideas review for the full breakdown.

For Budget-Conscious Traders

Finviz Elite ($299/year) provides excellent visual screening and heat maps at a fraction of Scanz’s cost. Not as fast for intraday trading, but solid for swing trading and end-of-day analysis. Check our Finviz Elite review for details.

For Technical Chartists

TC2000 ($249/year) combines scanning with professional-grade charting. If you spend more time analyzing charts than scanning for setups, TC2000 may be a better fit. Read our TC2000 review for the comparison.

For Research-Focused Investors

Morningstar Investor ($249/year) is built for fundamental analysis, not real-time scanning. If you’re a long-term investor who got here by mistake, this is what you actually need. See our Morningstar Investor review for more information.

Final Verdict

Scanz delivers exactly what it promises: professional-grade real-time scanning for active traders. The platform is fast, comprehensive, and includes features (Level 2, OTC data, extended hours) that competitors often charge extra for.

But the value proposition only works if you’re trading frequently enough to benefit from speed. At $197/month, Scanz is a business expense for serious traders—not a casual subscription for curious investors.

The bottom line: If you’re an active trader with a defined strategy who executes multiple trades per week, Scanz is worth testing during the 14-day free trial. Watch whether you actually use the speed advantage. If you catch even one trade per month that you would have missed with slower tools, the subscription pays for itself.

If you’re not sure whether you need real-time scanning, you probably don’t. Start with Finviz or free broker tools. When you find yourself wishing you’d seen opportunities faster, that’s when Scanz makes sense.

For a broader look at stock analysis and charting platforms, explore our guide to the best stock analysis websites.

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Frequently Asked Questions

Is Scanz worth the money?

For active day traders and swing traders who execute multiple trades weekly, yes. At $197/month, Scanz pays for itself if the real-time scanning helps you catch one additional winning trade per month. However, for buy-and-hold investors or casual traders who execute a few trades per month, the cost doesn’t justify the speed advantage. The 14-day free trial lets you test whether the tool actually improves your trading results before committing.

What are the best alternatives to Scanz?

The best alternative depends on your trading style. Trade Ideas ($999/year) offers AI-powered scanning for traders who want automated trade suggestions. Finviz Elite ($299/year) provides excellent visual screening at a lower price point, though with less real-time capability. TC2000 ($249/year) combines scanning with professional charting for technical traders. For long-term investors who don’t need real-time data, Morningstar Investor provides fundamental research tools.

Scanz vs Trade Ideas — which is better?

Scanz ($1,970/year annual) is better for traders who have their own strategy and just need fast execution. Trade Ideas ($999/year) is better for traders who want AI assistance in finding setups. Trade Ideas’ “Holly” system suggests trades based on historical patterns, while Scanz requires you to build all scans manually. If you know exactly what you’re looking for, Scanz delivers similar speed at roughly half the cost. If you want the platform to surface opportunities for you, Trade Ideas is worth the premium.

How do I cancel Scanz?

Cancel Scanz through your account dashboard or by emailing [email protected] before your next billing cycle. Important: Scanz has a strict no-refund policy, so you must cancel before your renewal date to avoid being charged. If you cancel via email, screenshot your confirmation as proof. The 14-day free trial auto-converts to a paid subscription on day 15 unless cancelled.

Does Scanz have a free trial?

Yes, Scanz offers a 14-day free trial with full access to all features. A credit card is required to start the trial, and it automatically converts to a $197/month paid subscription on day 15 unless you cancel. Set a reminder for day 13 to evaluate whether the platform is worth keeping.

Is Scanz good for beginners?

No. Scanz is a professional-grade tool designed for traders who already have a defined strategy. The platform helps you find opportunities faster—it doesn’t teach you how to trade. Beginners should focus on education and paper trading before paying for advanced scanning tools. Once you have a consistent strategy and know exactly what setups you’re looking for, then tools like Scanz can help you find them more efficiently.

Does Scanz work on Mac?

Yes, Scanz is fully compatible with both Windows and Mac operating systems. The platform runs as a desktop application (not browser-based), which enables the real-time data streaming and low-latency alerts that active traders require. There is currently no mobile app available—Scanz is designed for desktop trading setups where you can monitor multiple scans, charts, and Level 2 data simultaneously. Most professional day traders prefer desktop platforms anyway since mobile screens can’t display the data density needed for fast decision-making.

What markets does Scanz cover?

Scanz covers all major U.S. equity markets including NYSE, NASDAQ, AMEX, and OTC (penny stocks). The platform scans over 10,000 stocks in real-time during extended trading hours from 4 AM to 8 PM EST. OTC market data is included at no additional cost—a notable advantage since many competing platforms charge extra for penny stock coverage. However, Scanz does not cover futures, forex, cryptocurrencies, or international stock exchanges. If you trade multiple asset classes, you’ll need additional tools for non-U.S. equity markets.

How accurate is Scanz data?

Scanz provides true real-time data with no artificial delays—quotes and scans update within milliseconds of market activity. The platform aggregates data from direct exchange feeds for NYSE, NASDAQ, AMEX, and OTC markets. Level 2 quotes show live market maker activity and order book depth. However, like all data providers, Scanz includes standard disclaimers that data is provided “as is” and occasional discrepancies or outages can occur. For critical trading decisions, experienced traders typically verify data across multiple sources before executing large positions.