Scanz vs thinkorswim Scanner (2026) — Which Is Better?
Compare Scanz and thinkorswim Scanner — features, pricing, pros and cons.
Quick Verdict
Higher Rated
thinkorswim Scanner (4.4)
More Affordable
Scanz ($169/mo)
Scanz
Professional real-time stock scanner with 100+ filters, best-in-class news streaming, and Level II data — all bundled into one all-inclusive plan for active day traders.
thinkorswim Scanner
Free professional-grade stock and options scanner bundled with Charles Schwab accounts, featuring ThinkScript customization, 400+ indicators, and real-time multi-market scanning.
Our Analysis
Scanz ($169/mo) and thinkorswim Scanner (free) serve different trader profiles. Scanz bundles simplicity: one plan includes real-time scanning, Level II data, news aggregation from 100+ sources including SEC filings, and proprietary dollar volume metrics across US equities. thinkorswim pairs free access with flexibility—requiring a Schwab account, it offers 400+ indicators, 30+ fundamental filters, and unlimited custom scan logic via ThinkScript scripting. Scanz emphasizes speed and preset convenience; thinkorswim prioritizes depth and customization.
The decisive differentiator is backtesting and options capability. thinkorswim's PaperMoney simulator tests scanning strategies in live markets risk-free, and Option Hacker and Spread Hacker dominate options scanning. Scanz cannot scan options at all. Conversely, Scanz delivers proprietary dollar volume data and aggregates 100+ news sources in one dashboard, features thinkorswim doesn't match. thinkorswim's dense interface requires weeks to navigate; Scanz prioritizes usability.
Day traders seeking immediate setup should choose Scanz if budget allows and US equities suffice. Active options traders or strategy developers must use thinkorswim—free access combined with backtesting and scripting depth justify the learning curve. Scanz suits traders wanting plug-and-play scanning; thinkorswim suits systematic edge-builders.
Feature Comparison
| Feature | Scanz | thinkorswim Scanner |
|---|---|---|
| Rating | ★ 4.1 | ★ 4.4 |
| Starting Price | $169/mo | Free |
| Free Tier | No | Yes |
| Markets | stocks, etfs | stocks, etfs, options, futures, forex, crypto |
| AI Analysis | ✗ | ✗ |
| Backtesting | ✗ | ✓ |
| Paper Trading | ✗ | ✓ |
| Price Alerts | ✓ | ✓ |
| Mobile App | ✗ | ✓ |
| API Access | ✗ | ✗ |
| Social Features | ✗ | ✗ |
| Broker Integration | ✓ | ✓ |
| Custom Indicators | ✓ | ✓ |
| Automated Trading | ✗ | ✗ |
| Trade Journaling | ✗ | ✗ |
| Performance Analytics | ✗ | ✓ |
| Risk Management | ✗ | ✓ |
| News Feed | ✓ | ✓ |
| Education Content | ✗ | ✓ |
Scanz: Pros & Cons
Pros
- + Extremely fast real-time scanning with pre-market and after-hours coverage
- + Best-in-class news scanner aggregating 100+ sources including SEC filings
- + Level I and Level II data bundled — no add-on fees
- + All-inclusive single plan eliminates confusing tier upgrades
- + Unique dollar volume data not offered by most competitors
Cons
- - Expensive at $169/month with a strict no-refund policy
- - No backtesting capability — significant gap for strategy development
- - No mobile app and no API access
- - US equities only — no options, futures, forex, or crypto
thinkorswim Scanner: Pros & Cons
Pros
- + Completely free with any Schwab account — no subscription, no platform fees, no data fees
- + Best-in-class options scanning with Option Hacker, Spread Hacker, and Sizzle Index
- + ThinkScript scripting language allows unlimited custom scan logic beyond preset filters
- + 400+ technical indicators and 30+ fundamental filters with up to 25 conditions per scan
- + PaperMoney simulator lets you test scan strategies with $100K virtual capital in live markets
- + Scans stocks, ETFs, options, futures, and forex in a single integrated platform
Cons
- - Steep learning curve with a dense, intimidating interface that takes weeks to navigate
- - No public API for external automation or programmatic integration
- - Mobile app uses a separate interface from desktop with reduced scanning capabilities
- - No AI-powered scanning or predictive signals — purely rule-based filtering
- - Complex scans can be slow during high-volume market hours