Are you tired of researching the hard way for the best penny stocks for yourself? And looking for an easy way to find penny stocks that suit your trading strategy? Then a penny stock screener is all that you need. A good penny stock scanner lets you set a variety of filters to find the most suitable penny stocks for trading. In today’s post, we are going to describe what are penny stock screeners and the 11 best penny stock screeners to help you in your research.
What are penny stock screeners?
Stock screeners are tools that help you search for stocks based on specific criteria. You can search stocks of your choice by using a variety of filters such as price, volume, market cap, and so on. If you are a penny stock trader, then there are numerous scanners available for penny stocks as well.
Penny stock scanners scan the market and give results in no time. You can also configure them to create your personalized watchlist as well. On the contrary, the traditional way of search requires traders to put in a lot of effort and time to search for stocks. Who needs the traditional way when we have stock scanners with us?
What are the 11 best penny stock screeners
Penny stock screeners specifically refine thousands of stocks on the basis of filters you choose. When you choose a certain parameter for screening, the tool eliminates all other stocks and only presents stocks that meet your criteria. However, not all penny stock screeners are created equal. Therefore, we have prepared a list of the best penny stock screeners for your ease.
1. FinViz Penny Stock Screener
FinViz Penny Stock Screener is one of the best penny stock screeners currently available. The tool is extremely easy to use. You have different filters right on the home screen to set your own search criteria. For example, you can search for stocks on the basis of price, industry, sector, volume, etc. To search for penny stocks, all you have to do is set the price parameter to “Under $5.” Although you have other price options as well. You can search for penny stocks below $4, $3, $2, and even $1. So, FinViz Penny Stock Screener is really going to mesmerize you.
2. Yahoo Finance Penny Stock Screener
Yahoo Finance Penny Stock Screener is another option for penny stock traders to make their search seamlessly easy. The tool gives multiple filters such as price, region, market cap, sector, etc. Users can also define their own filters as well. In order to search for penny stocks, you can set the price option as “less than $5” or any other figure according to your trading plan. Again, Yahoo Finance Penny Stock Screener is a free and simple tool but highly efficient and effective to help you stay away from the traditional way of research.
3. Marketwatch Penny Stock Screener
Marketwatch Penny Stock Screener is also among the best penny stock screeners currently available. You can use this tool to scan the penny stocks by using as many or as few filters as you like. It let’s you highly customize your search by defining the parameters of your choice. You can also create your own personalized watchlist. Marketwatch Penny Stock Screener is also a free but extremely helpful tool to search penny stocks that suit your trading strategy.
4. Zacks Penny Stock Screener
Zacks Penny Stock Screener is another one of the best penny stock scanners available. It is one of the most efficient scanners that quickly sift through thousands of stocks and gives you a list of the penny stocks that best meet your criteria. Zacks Penny Stock Screener also makes sure to present a list of those penny stocks that are fully prepared to move above the $5 penny stock threshold. Moreover, you can select from the built-in parameters or use your own parameters to search for penny stocks. Whatever your criteria are, one thing is sure that the screener will give the best results. Some popular built-in parameters are price range, P/E ratio, EPS ratio, High-Profit Margin, industry, etc. In short, Zacks Penny Stock Screener is going to help you beyond any stretch of your imagination.
StocksToTrade is a remarkable platform for both beginners and advanced traders. The platform has made numerous search variables really simple. Moreover, the platform also offers various custom-built penny stock screeners. Oracle, the platform’s trading algorithm, also provides real-time alerts to traders to buy or sell stocks at favorable prices. StocksToTrade’s unique feature is that it allows you to create unlimited watchlists. That’s why you can trade different strategies simultaneously on this platform. StocksToTrade penny stock screener allows you to choose from thousands of built-in filters or add filters of your choice. If you want to experience a unique penny stock scanner to help you out, try StocksToTrade.
6. Fidelity Stock Screener
Fidelity Stock Screener is another one of the best penny stock screeners for penny stock traders. You can find potential investments in penny stocks with precision using Fidelity Stock Screener. The search capabilities of this platform are astonishing. The platform also allows you to analyze investment opportunities to find the best for you. Thus, if you want to use a variety of filters to narrow down potential investment opportunities in penny stocks, Fidelity Stock Screener is the best deal for you.
7. MorningStar Penny Stock Screener
MorningStar Penny Stock Screener is another quality penny stock scanner. You can search and filter penny stocks by various built-in parameters such as ratings, performance, etc. These multiple parameters make your search for stocks easy and give you a list of few penny stocks that best meet your criteria.
8. CNBC Stock Screener
CNBC Stock Screener is a unique penny stock screener that allows you to create a custom stock screen based on your search parameters. You have also the option to save a custom screen and use it any time. You have a wide variety of built-in parameters to choose from. That makes it really simple and easy for you to search for the best opportunities in penny stocks.
9. Investing.com Stock Screener
Investing.com Stock Screener has categories of parameters and there are multiple parameters in each category. You can choose parameters of your choice from categories such as price, ratios, volume & volatility, fundamentals, dividends, and technical indicators. Some popular filters are the P/E ratio, dividend yield, market cap, average volume, price, etc.
10. Thinkorswim Stock Screener
Thinkorswim Stock Screener is another top penny stock screener that helps you find stocks that suit your trading strategy. However, this screener is only for TD Ameritrade subscribers.
11. Stock-Screener.org Stock Scanner
Stock-Screener.org allows you to scan the penny stock markets to find the best opportunities using technical indicators. You can use one or a combination of indicators to narrow down the list of potential investments. You can also avail yourself of the option of finding the most profitable trades with Market Club Smart Scan.
The criteria for proper configuration of the penny stock screeners
You need to learn how to use a penny stock scanner right after choosing a platform for yourself. There are multiple factors but a handful of things are really important. You need to configure the following parameters to find the best stocks.
1. Price Performance
Price-performance is important because no one wants to buy stocks that don’t move enough. Only those stocks ensure profits whose price constantly changes.
2. Volume and Volatility
Volume and volatility are also important when searching for potential investment opportunities. High volume is accompanied by high volatility, especially in penny stock markets. Therefore, you need to configure your penny stock screener to find stocks that meet your trading strategy regarding volume and volatility.
3. Technical and fundamental indicators
Although technical analysis is more important for choosing penny stocks, fundamental analysis is also important. It is always good to know about the company you are going to invest in.
Penny stock screeners are the tools that help you narrow down the list of penny stocks for investment. These tools are extremely useful as they eliminate the need for manual research. There are numerous penny stock scanners currently available. However, not all of them are equal. They offer different features. You have to choose one that best suits your needs. Moreover, when configuring the scanner, pay particular attention to price performance, volume, volatility, technical analysis, and fundamental analysis. These are the most important factors to search for the most profitable opportunities in the penny stock markets.