Having to comb through countless stocks and options, all while weighing the pros and cons of each, may not excite many traders. That’s where market scanners come in. Scanners take all the guesswork out of the hunt for the best stocks to trade.
With more and more companies offering market scanners, how can you figure out which screener is the best one?
Fortunately, The Stock Dork is here to help make sense of everything that’s out there.
This BlackBoxStocks review will provide answers to the questions you may have about this trading and scanning platform.
BlackBoxStocks Review: Overview
BlackBox Stocks is a stock and options trading platform that searches the big exchanges in real-time to uncover unusual behavior in the market. Despite using some of the most advanced proprietary algorithms to accomplish such a feat, the system is very user-friendly and easy to learn.
BlackBoxStocks has recently become a marketing affiliate of TD Ameritrade, a brokerage with over 11 million accounts of its own. This powerful partnership speaks volumes for the success of BlackBoxStocks moving forward.
With only one membership plan, all of BlackBoxStocks is available to you the moment you sign up. There’s no hurdle you need to jump through to get the best of what the service has to offer.
BlackBoxStocks got its start in 2016 from a company specializing in real-time mobile and web-based analytical software tools. They are headquartered in Dallas, Texas but have data servers near the major exchanges on Wall Street in New York to cut down on latency.
BlackBoxStocks Review: What’s Included with BlackBoxStocks?
The service features several tools to review market data and help users identify patterns and make the most money off each trade. Here’s a list of some of the best features BlackBoxStocks has to offer:
- News Feed
- Chat Room
- Social Media Integrations
- BlackBox Bootcamp
BlackBoxStocks Review: Scanners
BlackBoxStocks uses both a stocks and options scanner to search each market continuously. The trading software uses proprietary algorithms based on those used in high-frequency trading (HFT) systems to analyze over 8,000 stocks and more than 900,000 different options contacts.
Both the stocks and options scanner run in real-time, looking for any stock and options that are the most active. The trading system automatically puts a symbol on any asset that may have a jump in price.
This feature really shines during pre-market to clue traders in on what’s looking hot before the market even opens for the day.
The stock screener may appear overwhelming at first glance, but it has many great features that are easy to use.
Perform scans on one or more stocks, or use a variety of filters to narrow things down slightly.
The dashboard will always show the top 10 gainers from today and yesterday. Clicking on the stock symbol will provide more information about how that particular stock is doing.
The volatility indicator in the middle of the screen shows how much swing a stock is seeing. Use this to gauge how risky a trade may be at this point in time.
Similar to the stock scanner, the options scanner has a list of the 20 most active calls and puts for the day. This list lets you watch options flow to stay on the pulse of the market.
Traders can further customize the screener to their liking and filter down searches to criteria that interest them the most.
Another big perk of the options scanner is the ability to export data to a program like Excel to run comparisons and analyze data further. That being said, the scanner allows users to look back at historical data at any point to see how options have progressed.
BlackBoxStocks Review: News Feed
BlackBoxStocks makes a point to ensure users will never miss out on the latest stock and options news. The trading software has a built-in news feed that provides a continuous stream of data in real-time from companies and news sources.
Users can quickly sift through the news feed by creating filters to highlight the most important headlines. Each news feed item of interest is given a symbol that a trader can trace back to a watch list or alert.
Some companies skimp on the news sources they pull information from. BlackBoxStocks uses top-tier sources to help traders develop the sharpest trading strategies.
BlackBoxStocks Review: Stock Alerts
In addition to scanners, BlackBoxStocks has a lightning-fast alert system to keep traders on top of the latest happenings in the stock market. The trading platform streams alerts throughout the day and saves relevant information in the alert log.
Alerts come in many forms based on the criteria traders create in the system. Here are just a few of the alerts traders can set up on their dashboard:
- A pre-market alert pops up any time a specific price or volume is met during pre-market trading activity.
- A usual suspect alert signals pre-market when a flagged stock sees repeating patterns of movement during the trading day.
- A rapid decline alert sends a note when a stock has dropped substantially on the previous day.
- A price spike alert notifies traders when a stock has made a considerable price jump within a short time.
Traders can be notified of an alert by a visual popup or with an audio cue. Alerts can even be sorted by time, percent change, volatility, and more.
BlackBoxStocks Review: Stock Charts
The BlackBox Stocks software platform has an impressive selection of institutional-grade charts at a trader’s fingertips. Clicking on a stock in the scanner allows a trader to pull up and review chart data for that particular stock.
Charts are easy to use yet are highly advanced. Customization tools make it simple to add in trade studies or mark up charts as a user sees fit.
Charts are automatically created every time account alerts are triggered to help reveal the reason for the alert.
BlackBoxStocks Review: Chat Room
While other trading platforms typically have a lackluster chat room (or lack one altogether), BlackBoxStocks puts those guys to shame. The trading service features a private, members-only community chat room that uses the Discord platform.
It’s easy to see hundreds of users in the chat room on any trading day. Moderators are always on hand to review content and keep things on topic.
Those same moderators are available to help field questions and offer guidance, along with the community as a whole. Fortunately, the trading community has shown itself to be mature, so traders should not fear asking for advice.
Since information on stock and options trading is saved on the server, members can also scan community posts for ideas and tips to improve the value of their trades.
BlackBoxStocks Review: Social Media Integrations
The BlackBox Stocks platform has a few ways to tie into the world of social media.
The software is connected to a social media stream that will display information whenever a trader clicks a ticker. Sometimes underrated, the feed from social media is one more source of information on what’s happening in the trading world that some other sites do not tie into.
Users also get free access to two private Twitter groups that provide alerts whenever there’s unusual stock market activity.
BlackBoxStocks Review: BlackBox Bootcamp
BlackBoxStocks understands the need for good trading education. In fact, the platform offers several educational tools of value completely free of charge to its members. These tools range from beginner level to more advanced users.
The launching pad into the BlackBoxStocks trading education system begins with the BlackBox Bootcamp. This three-hour webinar should be the first stop for any user with a new subscription.
The course begins by teaching traders about terminology, how to trade, and trade pitfalls to watch out for. Later in the course, traders learn about essential features of the service such as stock and options trading before diving into tools like alerts and the scanner.
BlackBoxStocks Review: Is BlackBoxStocks Legit?
BlackBoxStocks seems to be the real deal and one of the best market scanning systems available. The site has built up a user base thousands strong since its inception and only looks to grow further by adding new features and improving upon their unusual stock data.
If numbers and technology aren’t convincing enough for you, BlackBoxStocks has a marketing partnership agreement with brokerage giant TD Ameritrade.
BlackBoxStocks Review: BlackBoxStocks Cancellation Policy
BlackBoxStocks does not have a cancellation policy per se. It is easy to cancel your service by sending an email to the company.
For their monthly plan, there is no contract, and you can cancel at any time. Canceling anywhere during a month of service will allow you to continue using the platform until the billing cycle is over. At that point, you will no longer be able to use any of the services offered by BlackBoxStocks.
For a yearly subscription, it seems that a refund for partial service is handled on a case-by-case basis, but it is ultimately up to the company how much you’ll receive back, if anything.
They do make it clear that signing up under any special promotion makes your subscription not eligible for a refund.
BlackBoxStocks Review: How Much Does BlackBoxStocks Cost?
When it comes to signing up for a BlackBoxStocks subscription, there are two options to consider.
The price of a monthly membership sits right at $99.97 per month. As mentioned above, it can be canceled at any time.
There’s a bit more value in the yearly subscription, with a total annual cost of $959 per year. Signing up for a membership a year at a time means you’re looking at a 20% savings off the monthly price.
The company occasionally offers a free trial to potential users.
BlackBoxStocks Review: Pros and Cons
BlackBoxStocks earns a lot of points for great features and ease of use. Here’s a list of the pros and cons of the trading platform:
- Impressive tool for trading stocks and options
- Real-time stocks and options scanner
- Platform is browser-based
- Several alerts for staying on top of trades
- Very active chat room with experienced, helpful community members
- Large number of educational tools free to members
- High-quality news feed
- Uses algorithms based on a high-frequency trading system
- Strong customer support
- Requires active customization to filter out unneeded information
- No mobile app as of yet
BlackBoxStocks Review: Is BlackBoxStocks Right for Me?
BlackBoxStocks is an excellent tool for beginners to get started in the trading game. The platform provides a steady flow of options and stocks to give traders some ideas for assets to invest in. The easy-to-learn user interface makes it easy to locate the latest alerts to capitalize on profit potential.
More experienced traders will benefit from the amount of information each tool provides to perform an excellent in-depth analysis.
Beginners and more experienced users alike can take advantage of the education system that BlackBoxStocks makes available on their site. Video tutorials and webinars teach how to use the platform’s many tools and also cover lesser-known market topics such as options flow.
The chat room is a great source of information for trade ideas and feedback in a private, safe setting with potentially hundreds of members at any given time.
BlackBoxStocks Reviews by Members
Members who frequent the BBS media platforms have many of good things to say about using the platform. Here are a few recent reviews:
I was very new to trading when I joined BlackBoxStocks. I watched the top traders live channel broadcasts and learned to trade using the trading system. After several green trades, I absolutely love watching these live channels to see what I should trade everyday!
-Kyla, on Facebook
Finally a great real trading group! Fun and a real money maker! Excellent personalities and real people who trade and will help in any way they can…these are great people!
-Dan, on Facebook
Final Review: Is BlackBoxStocks Worth It?
BlackBoxStocks appears to be one of the best choices for stock and options screening out there. The ease of use coupled with advanced tools and proprietary algorithmic features make it unique. BlackBoxStocks can find potential investments faster than anyone ever could on their own.
New traders may balk slightly at the price, but BlackBoxStocks pricing falls in line with other scanning options out there. The one size fits all plan takes away the guesswork about which plan to jump into.
The education system is quite comprehensive, with videos and frequent webinars to keep you informed of the latest features and market happenings.