Best 5 Stock Screeners in Canada – Canadian Trading Tools 2024

Are you looking for the Best 5 stock screeners in Canada? You have probably landed at the right place. Here we shall be discussing the most popular Canadian Stock Screeners.

Best Stock Screeners

Research tools like best stock screeners, free investment advice, and  investment platforms have lifesavers for investors over the years. With them, investors can construct an investment portfolio suited to their financial needs. However, it is often difficult to decide which specific stock amongst the thousands of stocks to buy or sell. A stock screener is a tool that helps you narrow down the right stocks. The tool helps filter the market for stocks that meet a given set of parameters.

New investors are often advised to allow professionals to pick stock for them. Many people believe professionals have the right resources and a deep bench of stock analysis. This is probably good advice. But the truth is that you also have access to a quality stock screener that can do the work for you. Do you like to direct your trades and manage your portfolio? Here are stock screeners you need to be familiar with in Canada. 

What is a Stock screener?

We all have the option to filter our search when searching for something on Google. These help narrow down the results that best meet our expectations and what we were looking for in the first place. This is primarily what a stock screener does for stock investors. A quality stock screener filters through listed stocks worldwide within seconds and identifies those that meet your investment strategy. 

There are more than 1000 companies listed on the Toronto Stock Exchange and over 1400 on the venture exchange. Therefore, finding the right stock would be difficult without a good stock screener. A good screener cuts down your research time considerably.

However, it is important to note that a stock screener is not a tool that helps you learn the basics of investments and stock analysis. It only lets you apply the knowledge you’ve already acquired.

Best 5 Stock Screeners in Canada

Here are some best stock screeners to use in Canada. A great list for Canadian traders and

1. TMX Stock Screener

TMX Stock screener is one of the most sophisticated beginners friendly screeners with a clear and comprehensive layout in Canada. It is provided by the company that owns and operates the Toronto Stock Exchange, TSX venture exchange, and the Montreal exchange. i.e., the TMX Group. 

TMX provides an accurate, relatively pristine, up-to-date, and comprehensive picture when filtering down your desired stocks. It is straightforward and offers a comprehensive range of metrics to short-list stocks. TMX Stock screener has fundamental, technical, and descriptive metrics available to screen from. It can also be used to access charts, financial statements, and news related to stocks. Additionally, you can use more than 76 metrics to search on TMX, and more than 40 stocks can be filtered, based on the criteria above.

TMX is also a good tool for screening dividend stocks. These include dividend yield, payout ratio, dividend rates, growth metrics, and five technical indicators. You can also add other filters related to dividends, share performance, financials, technicals, etc. 

2. Stock Rover

Stock Rover is quite different from the TMX screener because it is a paid screener and not as straightforward as the TMX screener. This powerful stock screener allows you to create custom screener metrics using 554 metrics, and existing metrics. These features allow you to fine-tune your custom screeners and, by extension, create more meaningful watch lists.

With Stock Rover, you can also create a screener based on your ideal growth and valuation metrics. These include currently undervalued stocks with powerful growth potential and histories. Additionally, Stock Rover helps you create a screener to find your ideal stock instead of keeping an eye on all sectors.

3. Investing.com

Investing.com is another free online screener that offers you access to the full range of Canadian securities. It has the best filter and navigation and helps you to narrow down your search based on markets, exchanges, sectors, industries, types of equities, etc. This is helpful when looking for stocks within a particular industry or if you want to diversify your investment portfolio sector-wise. Its user interface is by far one of the best and most intuitive. 

With Investing.com, you can further filter Canadian stocks using a range of filters. These include ratios, price, volume, fundamentals, and dividends. It also has a host of technical indicators like ADX, ATR, Bull/ bear power, CCI, MACD, RSI, etc. Each filter further has several headers to choose from, another feature that makes Investing.com very useful for a new investor.

4. Yahoo Finance

Yahoo Finance screeners are among the best stock screeners in Canada. It offers almost all Canadian securities with a compressive range of filters and metrics from share statistics, income, valuation measures, cash flow statements, earnings, sector, and other financial highlights. It is also very simple and intuitive and allows you to set custom ranges for the values of your metrics to fine-tune your search. 

Yahoo Finance allows you to save your individual screeners for later use. It also creates a heat map for you to get an overview of your search results. However, it does not have dividend filters, where it only offers three metrics. It also doesn’t have filters for the past-five years’ dividend growth. So it might not be useful for dividend growth investors. 

5. Finviz

Finviz screener is a powerful screener with an extensive range of metrics and technical indicators. It has a free and paid version called Elite. It also refreshes every three minutes, which is helpful for traders to choose the right stock. The interface is different from other screeners as users can tweak their metrics relatively. 

Finviz is also useful for creating financial visualizations as it allows users to choose filters like market cap, sector, dividend yield, average volume, growth, volatility, performance, etc. However, it often takes some time to understand it. Also, it only displayed 191 Canadian securities, and users can not set custom ranges for their metrics in the free version. 

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Canadian Stock Screeners

The Canadian stock screeners are only as important as your investment knowledge. Therefore, keep learning to cut your stock research time to a mere fraction. No doubt, if you have good investing tools, you can smoothen your investment journey.

Now, whether you think of day trading or simply improving your investment portfolio, these top rated stock screeners will surely guide you.

Which is your preferred stock screener? Do you wish to add any other Stock Screener that is popular in Canada? Feel free to drop in the comments or email us to be a part of the exclusive Best Stock Screener List.