Tradingview and eSignal are arch-rivals when it comes to providing market intelligence to stock traders. Each one of the two seems to have cemented their market presence with a unique combination of products. Tradingview (TV), for instance, has carved a niche for itself with the market alerts and on-demand updates. eSignal, on the other hand, is all about charting and indeed, they seem to have worked really hard at creating a unique and beginner-friendly charting platform.
Tradingview is a collaborative platform that brings together close to 4 million potential investors drawn from across the world. The system mainly seeks to create a system where people can freely publish and share their ideas.
So if you’re looking for a platform where you can interact with other traders and share freely, this would be a perfect launching pad for you.
It’s beginner-friendly and on top of that, they provide you with a well-made mobile app which helps you keep your finger on the market pulse.
And according to their website, more than 2.4 million trading ideas have been published on the platform so far. So, it would be safe to say that TV is a platform like no other.
eSignal is more or less like TV, a platform that encourages information sharing to empower you to make informed trading decisions. That said they seem to place more emphasis on their stronghold – the charting software.
In fact, eSignal is probably one of the oldest online charting software system providers. Their charts go above and beyond what the competition offers by presenting you with a myriad of drawing tools that you can use to customize your trading experience with.
And of course, this platform is also known for providing in-depth historical data and extended time frames which come in handy in making you a stronger and bolder trader.
But just like TV, eSignal isn’t a standalone brokerage platform. Instead, they provide you with instant access to over 50 brokerage firms so you can choose the firm that works best for you.
Head-to-Head Comparison of the Two
What are the similarities and differences shared by the two? To help paint a picture of what to expect of the two and which one is the best (and why) we’d like to breakdown the duel further by shedding more light on some of their key features.
Needless to say, it’s eSignal which has an upper-hand as far charting goes. Their charts are quite well-made and enable you to enjoy an unlimited array of customization features. They also have much more flexible in that they provide you with an extended timeframe meaning you can watch the chart movements at a second-by-second level.
That said, although TV trails eSignal, their charting software is not to be written off. It is quite well-made and available across all of their platforms i.e. web-based and mobile.
And although the HTML5 charts seem quite limited compared to what the eSignal ones offer, they still happen to get the job done. So, unless you’re looking for a really advanced system, what TV provides would ordinarily be sufficient.
Both services seem to have embraced innovations for mobile phone users lately. However, it seems that TV offers a much better deal compared to its competitor. Indeed, the latter has a well-made app that not only seems powerful but also is highly functional. Unfortunately, this app is solely available for iOS users for now and we hope that the company will build another one for Android users as well.
Meanwhile, the eSignal team seems to have built an app for the sake of it. Their app is more or less a condensed version of their web-based platform. There isn’t much to write about it although, at least, it helps you keep track of the market movements by tracking some of the key market movements.
3. Brokerage Services
The two companies currently don’t provide brokerage services but they do provide you with access to multiple brokers. The good thing with this approach is that you get the opportunity to choose a broker who terms favor your level and style of trading.
You are not forced to settle for some pre-selected broker. And that’s what true freedom is all about. So, two thumbs up for both companies for doing this.
4. Educational Materials
As far as trading and investments are concerned, learning is a non-stop journey. And for that reason, your best bet is to go for a service provider who provides you with a perfect learning opportunity.
On that front, TV provides you with lots of self-learning materials in the way of blogs. And then there is a free course they offer through the tutorage of Lex van Dam titled “How to Become a Trader and Investor.”
Otherwise, the vast majority of their training courses are to be paid for. For instance, there is the “Million Dollar Traders Course” which goes for $5000 and so forth.
On its part, the eSignal team seems to focus more on offering free training programs as opposed to paid ones. They mainly offer these services through Webinars and Pre-recorded video tutorials. But this is free stuff and so you wouldn’t expect the training to be extremely perfect.
All in all, we’d say that the latter seems to offer a pretty reasonable approach to learning than the former. And to this end, we aren’t sure if the paid training offered by TV is really worth it.
How much would you like to spend on your trading service of choice? Well, these two companies offer competitive deals with Tradingview providing a 30-day free trial period. The two have three paid product plans.
eSignal has the Classic, Signature and Elite packages. The cheapest package, the Classic Plan goes for $52 a month with a 30-day money back guarantee on the first month of purchase. As for TV, their cheapest package is known as the Pro Plan and goes for $14.95 if bought on a monthly billing cycle.
In our view, TV seems like a well-priced and reasonable deal to opt for especially if you’re on a really tight budget. The company, however, limits the kind of features you get across different tiers and also tries to upsell you on various add-ons. eSignal seems to offer a much more superior trading platform, however, a majority of the features it offers can still be found on the various plans provided by TV at a slightly cheaper price.
So, in our view, Tradingview enjoys a slight advantage over its arch-rival.