One thing you’re likely to learn fast when you step into the world of trading is that there are dozens of platforms that you can sign up on to learn or receive market signals. The problem, however, is that each one of those has their fair share of merits and demerits. Tradingview and Coinigy are two such services and today we’d like to carry out a thorough comparison of them seeking to help you make an informed verdict.
TradingView is a platform designed to provide real-time information and market insights for the trader. Besides that, it is a charting and collaborative trading platform. The idea here is to have an open-ended platform where people can freely share ideas and learn.
According to the stats appearing on the company’s website, this service has so far been embraced by close to 4 million traders. What’s more? More than 24 million ideas have been published and 14 million charts created.
Coinigy is a Milwaukee-based company that mainly focuses on digital trading. They were catapulted to the very top of the industry by the cryptocurrency wave that swept across the world just a few years ago.
But besides the crypto hype, the team behind this service seem focused on a greater goal. And that is the goal of introducing a paradigm shift in the global financial industry.
It is, however, not clear how many folks have signed up with the company although the organization’s goal as of now is to impact 100,000 people through education and powerful trading tools.
Charting tools are extremely important to any trader’s life. On this front, TradingView seems to be having an upper-hand with their HTML5 charts.
The charts, though limited in scope, pack more than 50 intelligent drawing tools. What’s more? There are many different charts to choose from ranging from spread charts, line break, KAGI, RENKO to PNF charts.
And the icing on the cake is that you can even adjust the system to accommodate multiple chart layouts and/or have multiple symbols on the chart.
Not much can be said about Coinigy as far as charting is concerned. All we know is that they are planning to launch some chart scanners moving forward, so until then we think that TradingView has an upper-hand in this duel.
For now, if you’re thinking of getting started with Coinigy, all you can do is trade directly from the charting platform of your favorite exchanges. The platform has more than 45 exchanges so far and access to more than 75 technical indicators. So, we can’t write them off as of yet.
We all love to get trading alerts, don’t we? This is especially the case especially if you’re a busy person who hardly has the time to sit in front of a computer manually scanning the charts.
And thanks to the power of modern technology, it’s possible to get timely alerts even while on the move.
The good thing is that both TradingView and Coinigy seem to take their alerts quite seriously. The former, for instance, provides you with audio signals, SMS-alerts, email-alerts, as well as visual popups. The latter, on the other hand, provides you with E-mail, SMS and even in-browser price alerts.
But it is TradingView once again that currently seems to have an upper-hand since, in addition to the alerts, they have in place a real-time news platform. This is your go platform if you’d like to get the lay of the land prior to making an investment.
3. Mobile Friendliness
Who said that you have to sit in front of a computer, trading all day long? The entry of mobile phone apps in the world of trading has really changed things although you can only do so much with the apps.
Coinigy provides you with an Android App which makes it possible for you to track hundreds of currencies from the palm of your hand. The App works quite well given the fact that this is a cloud-based platform which offers a superior uptime a well. However, we could not find any news about Coinigy having an iOS app.
The opposite applies to TradingView, instead of having an Android App, they only seem to have an iOS app. But as far as quality goes, this App stands out with its superior ability to stream real-time quotes. Plus you can use this app to access any charts that you might have saved.
In our view, it’s a tie as far as mobile-friendliness is concerned. Both companies have awesome apps only that they share limitation related to availability on iOS and Android.
5. Customer Support
Both companies seem to have invested greatly in their customer support systems. Coinigy, for instance, provides loads of tutorials that can help you learn a lot about their system. Besides that, they provide support through email and mobile. The company is also quite active on social media with their regularly updated Twitter platform garnering 19.1K followers at the time of compiling this review.
Although TradingView has support features that are almost similar to what Coinigy offers, they seem to be lagging behind in terms of the platforms available. For instance, at the time of compiling this review, it was still not clear which email address to use for customer support inquiries. They also didn’t share their phone numbers with us which also means that chances are that they don’t offer phone-based customer support.
As far as their social media presence goes, we found them to be quite active on Twitter with over 50K followers – complete with a verification badge. They tweet regularly as well.
In a nutshell, if you’re looking for personalized customer support, we think Coinigy offers a much better package than TradingView.
Coinigy provides you with three pricing plans, two of which are paid plans. Their free plan comes in the form of a 30-day trial period during which you get limited access to the features found in the Pro Trader plan.
The Pro Trader plan itself goes for $18.66 a month when purchased on an annual basis. It provides you with unlimited access to a wide array of features and tools including:
- Access to mobile app
- 24/7 portfolio management
- Access to third-party charting
- Unlimited API accounts
- Multiple chart layouts
- Advanced order types
- Quality email support
- Unlimited session length
If the Pro Trader plan sounds too restrictive for you, you can always upgrade to the API Developer Pro plan which retails for $99.99 a month. Here you’ll access all the hidden power of Coinigy comprising features like:
- Mobile app access
- 24/7 portfolio management
- Zero-added fee trading
- Unlimited access to third-party charts
- More than 75 technical indicators
- Unlimited API accounts
- Advanced order types
- Unlimited session length – to name but a few.
Now that we have an idea of how the Coinigy multi-tier pricing plan looks like, it’s time for us to focus on what TradingView has in store for you. And once again, here we find that different tiers are provided.
The first tier is the free-trial tier which is available for 30 days. As you would expect, this is an extremely limited plan because the goal is to have as many free trial users become premium users. Only 1 chart per layout is allowed for this level of trading and that’s in addition to the fact that you’re limited to three indicators per chart.
The second tier, the Pro tier will cost you $9.95 if you sign up for the 2-year billing cycle r $14.95 if you opt for the monthly billing cycle. But unlike the free-trial, the Pro tier provides you with 2 charts per layout, 10 server-side alerts, 5 indicators per chart and so forth.
The next tier up above the Pro is the Pro+ which goes for $19.95 if you opt for the two-year billing cycle or $29.95 a month for the monthly cycle. This tier allows for up to 4 charts per layout and presents you with the freedom to use 2 devices at the same time. On top of that, you get 30 server-side alerts along with 10 indicators per chart. However, you’re limited to 10 saved chart layouts.
If you’d like to enjoy an unlimited trading experience with TradingView, your best bet would be to go for the Premium Package which would cost you some $39.95 per month if you opt for the two-year billing cycle or $59.95 if you go monthly.
Which Trading Service Would Be Best Suited For Your Style of Trading?
Well, the TradingView platform in our view would be ideal for anyone who would like to enjoy a combination of Fundamental and Technical analysis. It’s also a great platform for someone who is familiar with stock trading but just looking for a platform to profit more from their investments.
As for Coinigly, we’d recommend them for the digital savvy investor. They seem to have a keen focus on the happenings of the digital world and that coupled with their strong customer support would be just great for a savvy trader.
It takes time to become a successful trader. However, you need more than just time to make sense of the investments world. And that’s where platforms such as TradingView and Coinigly come in. As we have seen, each one of them has their fair share of upsides and downsides. So, your best bet would be to pick one that seems to suit your unique style of trading better.