eSignal is a platform that is almost generally believed to be of high value for investors and also for traders alike, having reputable customer service, and also being quite suitable for mobile trading. At the same time, it is also generally believed to be a little on the pricey side of the deal!
eSignal is regarded as one of the most reliable charting platforms for all traders in various financial markets. But as we alluded to it, this platform does not come for cheap. In fact, you have to pay $192 every month on average in order to be able to receive the full potential of this platform.
Because of this reason, eSignal might not be an ideal choice for novice traders, since their initial equity might not allow for such spending only on charting tools. But if you are a bit more trading savvy, then eSignal might be the missing part of the market map for you.
What Exactly Is the eSignal Platform?
eSignal is considered to be an advanced tool in the world of trading and financial markets. So if you are rather new to this field, you might not have even heard of this platform. But if you have been in the game long enough, then surely you have come across this platform.
As you become more experienced as a trader, you will come to highly value market analysis. At the same time, you will come to realize that conventional platforms, even MetaTrader, are not as extensive as they ought to be regarding their reach in analysis.
That is why in these situations you would turn to platforms such as eSignal. This platform is specifically designed to be an advanced charting platform offering highly sophisticated technical analysis tools.
Is eSignal a Trading Platform?
So far in the article, we have been referring to eSignal as a charting platform. A platform that offers amazing charting and technical analysis tools.
But to make sure there is no confusion, yes, eSignal is also a reputable trading platform. You can use it to trade various financial instruments across different markets, which of course includes the forex market, among others.
How Many Technical Indicators Are Offered by eSignal?
On average, most trading platforms offer between 20 to 50 indicators. Those standing on top of the list in this regard, offer maybe between 100 to 200.
But the thing about eSignal is that it offers hundreds of indicators. This is why eSignal has turned into a truly top choice for professional and more serious traders.
With the help of so many indicators, it becomes possible for traders to carry out high precision and accurate technical analysis of the market. But this is only complimented with the highly advanced charting tools that are offered to them by eSignal.
What Charting Tools Does eSignal Offer?
Perhaps more than being a really advanced trading platform, eSignal is an even more advanced charting platform. This means the tools and functionalities that are offered to traders with this platform is above and beyond what most other platforms can offer.
These tools include various ways in which charts can be drawn and analyzed. As such, eSignal enables traders to draw up charts and divide them based on many different time frames. Time frames that can be as wide as years and longer, all the way to even seconds. This is ideally useful for all sorts of traders – including those who want to scalp the market and those who opt for position trading.
In addition to time frames, charts can be drawn based on other factors that include trading volume and the number of trades executed. In addition, charts can be drawn based on ranges in which prices move. This is also beneficial for traders who have other styles of trading, for instance swing trading.
How Many Brokers Support eSignal?
A trading platform on its own would be nothing. By now you should know that a trading platform is merely a software. The actual connection to the market and the world of trading is facilitated by a broker.
Therefore, it is quite important to see just how many brokers support your trading platform of choice. There are some trading platforms that are only supported by a few brokers. Naturally, that would make the reach of the trading platform quite narrow.
Luckily, in the case of eSignal, traders do not have this problem. Since eSignal is supported by more than 50 different brokers. You can easily connect to these brokers from the platform.
So if you have your mind set on a certain broker, chances are your trading platform would be a match for it.
Who Is Behind eSignal?
As we have discussed various trading platforms and also financial brokerage firms, we have seen that they are owned by different organizations and private firms around the world. These platforms are under the legal purview of numerous different legal entities that oversee market operation, such as the securities and exchange commission, which is a rather prevalent regulatory body for stocks and bonds in different countries.
But the story is a bit different for eSignal.
In fact, eSignal is not really owned by any small firm that is registered in some far off tax haven island somewhere in the world. eSignal is officially owned and operated by the company Intercontinental Exchange.
Perhaps that wasn’t as impressive as we were building it to be. Let’s put it this way, Intercontinental Exchange runs the New York Stock Exchange.
Surely now you have a much better understanding of who owns eSignal and just how reliable this platform is. Additionally, maybe now you also have a better understanding of why this platform is so expensive, especially when compared to other similar platforms.
The data that eSignal provides is extremely reliable and with the highest quality, specifically because of the organization that runs it.
Downside of eSignal
Unfortunately, as much as we would like to believe, there is no perfect trading platform.
With all the amazing features that eSignal provides for traders, there is still a big downside. And that is of course the prices that users have to pay in order to have access to various services of this platform.
There are basically three different licenses that users can purchase. Each license offers more functionalities over the last one. The classic license is around $58 per month and it offers the basic charting and analysis tools. The Signature license is $192 per month and it offers extra features of backtesting and real time data. Lastly, the Elite suite is a whopping $391 per month which comes with the added functionalities of news and commentary, in addition to more complex analysis of trading volume.
eSignal is both one of the most advanced charting platforms and also a trading platform. It offers top of the line analysis functionalities, including hundreds of technical indicators and countless charting tools that allow traders to draw up and analyze trading charts in many different ways that fits their trading strategy.