At a price of $99 per month for the basic version, and $249 for the ‘Essential’ package, Benzinga Pro is not the cheapest market information provider out there. However, compared to the likes of the Bloomberg terminal and Reuters Ekion, which cost $2,200 and $1,800 per month respectively, Benzinga Pro offers excellent value for money.
Granted, the Benzinga offering does not provide the same level of insight as its more expensive peers, but as a news tool, it ticks all the boxes.
One of the most valuable tools the platform provides is the ‘Benzinga Pro Squawk,’ which is simply a trader reading out news items before they appear on the news feed. This is valuable because you receive the data faster and don’t have to waste valuable time scrolling through news feeds to find the data you need; it’s in your ear when you need it.
Along with the squawk function, the platform also offers an up-to-date news feed, live market prices, watchlist and economic calendar: all the tools any active trader might need.
Benzinga Pro: The test
To test Benzinga Pro’s usefulness, I used it for a day to see if and how it can improve my process as both an investor and financial journalist.
To begin with, the platform is very easy to use. You can quickly search the news for specific items, and the news feeds cover topics from multiple angles. Stock trading date, 52-week highs/lows, up to the minute stock news and economic data is all pulled through onto one feed.
To help segregate the data you can set up a watchlist, which I did to track the top equity stories of the day and how they were affecting the market, as well as any new analysis on the topics. The platform is customizable, so you can set individual sounds for different types of news releases such as trading signals, market-moving news releases, options trades and company updates to name a few.
As well as the economic calendar, there’s also an earnings calendar feature. This feature is another impressive addition. Not only does the calendar give the name, ticker and aggregate EPS estimate, but it also gives a color-coded guide to which fiscal quarter the company is reporting, and a % surprise guide for EPS and revenue beats.
Overall, as a reporter and investor, this platform is certainly useful for me, and I believe, worth the money. For a more active trader, Benzinga Pro could prove to be invaluable, thanks to its alerts and highly customizable interface designed with the user in mind.
Full Disclosure: ValueWalk received a free Benzinga Pro trial in exchange for an honest review of the product. No other gifts or compensation were taken or offered.