Benzinga Pro review

Benzinga Pro is designed for active traders who are looking to make moves based on the latest news events. As such, the platform includes high-speed real-time news, charts, financials, screening, options mentoring and calendar suites which are aimed at giving traders an edge.

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By

Cameron Micallef

Edited by

Moira Daniels

Updated

Fact checked

Fees

Free – $0 per month
Basic – $27 per month
Essential – $177 per month
Options Mentorship – $347 per month

Our verdict

Benzinga Pro is a real-time news streaming service that aims at giving investors trade alerts, market screeners and audio squawks to help keep them informed.

The main Benzinga site operates as a traditional stock market news site, while the company's pro feature acts as a news platform designed for fast-paced traders and investors who need information instantly.

Overall, the site delivers on its intentions.

But it should really only be for those looking to actively trade stocks, or if you have a particular interest in company news, you might see value from the service.

Those who are more traditional buy and hold investors or those looking into exchange-traded funds (ETFs) might find the pro version a little over the top for their specific needs.

Pros

  • Daily trade picks
  • Newsfeed: Gain access to exclusive market moving stories
  • Sentiment indicators
  • Audio squawk
  • Full calendar suites
  • Market movers filters

Cons

  • Cannot integrate with live trading
  • Mostly for day traders
  • Strong North America focus

Key features

If you sign up to Benzinga Pro you'll get a number of different features depending on the level you decide to sign up with.

All the plans have access to basic news and alerts (only some in real time).

The full list of features are as follows:

  • Newsfeed access – Benzinga Pro allows for real-time news, mainly filtered by source, category and watchlist.
  • Real-time alerts – Get alerts sent to your email or get desktop alerts.
  • Movers – You will be able to see the biggest winners and losers for a specific time period, sector or market cap.
  • Sentiment indicators – Benzinga Pro analyst uses historical context related to news items to help anticipate how news will make a share move.
  • Audio squawk – Instead of reading, you can have the news played to you.
  • Chat with newsdesk – You can chat with Benzinga's newsdesk and ask questions about how the news will impact a share.
  • Full calendar suite – Including earnings, guidance, economic data and when shares are getting rated.

How does it work?

Benzinga is a content-driven service that gives investment guidance for those looking to grow or expand their portfolio.

The company highlights it will provide the research and guidance for you, although it is not a stock picking service.

Instead, it will provide you with the information, including recommendations, but the decision as to whether or not you buy is completely up to you.

Who is the service best for?

Since it was launched in 2010, Benzinga has grown into a service known for sending some of the most up-to-date news on the market.

As such, it is probably best for those who are traders.

These are the type of investors who will gain the most out of a speedy service.

While there are some benefits for buy and hold investors to have fast access to information, it is probably not necessary to pay for it.

Is it legit?

Benzinga Pro is a legitimate service for investors.

Overall, it gives strong company analysis and business news fairly quickly.

It also gives sentiment trackers and chat boxes that can help investors digest the news.

Fees

You can sign up to 4 accounts with 3 costing you money.

  • If you just want newsfeeds and watchlists, you can get the free account.
  • If you want chats, movers, watchlist alerts and premium articles you can sign up to the basic pack for US$27 a month.
  • If you want real-time quotes, advanced newsfeed, real-time scanners, signals and advanced trading tools, you can sign up to the essential pack for US$177 a month.
  • Finally if you want mentorship, education and learning to trade features, you can sign up to the options pack for US$347 a month.

Worth the fees?

This one is totally dependent on your investing style.

If you're a day trader then information is everything. Having a service like this, which will send you real-time alerts and daily news based on what you want to know, can be incredibly beneficial.

However, if you're a regular long-term investor, it probably isn't worth the money. This is not a blight on the paid service, it's just that speed might not be the number one necessity for your trading strategy. You could simply use media sites to get the information you require.

What others are saying

When it comes to market sentiment, Benzinga Pro is generally well respected.

If you take a look at Trustpilot for example, you'll see it has an average rating of 4.2.

Other sites such as Sitejabber have a slightly lower rating of 3.21 stars. It is worth pointing out Sitejabber had 3 times the reviews of Trustpilot at the time of writing.

Sign-up process

If you're looking to sign up it is a pretty quick process, especially if you aren’t sending any payments (basic account).

All you have to do is fill out your basic details and Benzinga will send you a confirmation email.

After that, you're in.

If you are looking to sign up to its premium or pro service, you'll also have to add a payment method.

Support

There are a couple of ways to get in touch with Benzinga.

  1. Email
  2. Phone

But given it is an American number, Aussie customers might be better off emailing.

To make sure you get accurate and helpful information, this guide has been edited by Moira Daniels as part of our fact-checking process.
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Cameron Micallef is a personal finance journalist with eight years of experience, specialising in investing, property and household bills. He has written for Smart Property Investment, nestegg and Investor Daily. Cameron holds a Bachelor’s degree in Communication and Media Studies and Commerce, as well as a Tier 1 Generic Knowledge certification (RG146), ensuring compliance with ASIC standards. See full bio

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