On Monday, August 26, we “officially” launched the MTG Stock Screener, our online stock screening software for stock exchanges of the USA, Canada, UK, and India, each with preset technical stock scans for swing traders.
Since then, we’ve been receiving very positive feedback from subscribers, and we are truly pleased that traders are enjoying the service.
However, we have also received e-mail from a few individuals who are apparently confused as to why we are now charging a modest monthly fee when it was formerly available for “free.”
So, just to make sure we’re all on the same page, please allow me to clear up any possible confusion.
Here’s the situation, plain and simple…
Way back in early 2012, our stock screener entered into open beta release and we made it free for anybody who wanted to use the service while in beta mode. Allowing free access to software in beta release is common practice in the industry.
Our initial hope was to shift from beta release to stable (final) release within just a few months, but as is common in the software world, our time estimate was substantially off.
When all was said and done, it took more than a year of “under the hood” tweaks and enhancements before we felt comfortable officially releasing the software in stable mode.
Upon official release of the software this week, we began charging a very modest subscription fee of $4.95 for the first month (discounted trial period), which converts to a “no-nonsense” cost of just $11.95 per month thereafter. Obviously, members may also cancel their subscription at any time without further charges.
This small monthly subscription fee equates to the brokerage commission fees of just one or two stock trades per month. It is also much lower than the cost of most other technical stock screening services.
We intentionally set the subscription fee as low as possible (mass data feed for the exchanges of four different countries is not exactly cheap), so that the subscription cost would not be a barrier to entry for traders who wish to make use of the service.
Unfortunately, it has come to our attention that a handful of people think we were intentionally trying to trick or “bait and switch” them by suddenly shifting from a free service to a paid service. This could not be further from the truth.
The reality is simply that the small monthly fee became applicable and necessary as soon as the software finally switched from beta to final release.
Over the past 11 years that we have been in the business of educating and providing stock picks to swing traders through our various services, we have proudly maintained a stellar reputation for honesty and transparency.
Nothing about this week’s official release of our online stock screener changes that.
PS – I forgot to mention that the MTG Stock Screener is now included as a complimentary bonus for all annual subscribers of The Wagner Daily, which now makes our swing trading newsletter an even better value.