Depending on your online broker, you may already have access to one of their stock screeners. Most of these focus on technical analysis and trading, but fundamental screening criteria may be available.
Not only are they free, they often come with several pre-defined stock screens, portfolio management tools and offer extensive investment information related to stocks and the financial markets. And, you are going to place the trade where the screener lives.
NOTE: In some cases, you will need to maintain a minimum level or trading activity or meet a minimum capital requirement. Look for these costs since it means the screener will not be free.
The primary consideration, always, is whether or not the screener is adequate for you. Can you build the screens you need? Are the pre-defined screens sufficient? It might be nice to screen streaming data but is it a demand of your style?
The goal of screening is to reduce the time required to locate and analyze suitable investment or trading opportunities. Using the brokerage screener should not cause more time to be spent.
Screeners offered by discount brokers generally focus on real-time streaming data and technical analysis. Trading is better for their bottom line than investing. However, the following online brokers include some fundamental data in one or more of their screeners.
If you know of other discount brokers offering stock screeners with fundamental criteria as part of their package, please contact us so we can share the information with everyone.
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Updated Dec, 2016