Crypto traders are individuals who rely on intuitive and analytic tools to capitalize on crypto price fluctuations. They draw from live and historical price movements to project future market trends – a process known as technical analysis. To do this, traders have to scrutinize charts, and use indicators like Bollinger Bands and moving averages. As simple as this sounds, it entails a level of technical know-how to guarantee the viability of the insight garnered from market signals.
This is where charting platforms enter the fray. Knowing how to use these trading solutions is a core requirement for crypto traders. As such, there are a plethora of crypto trading tools available today, and it is becoming a tad difficult to separate the quality ones from mediocre solutions. However, two platforms, Coinigy and Trading view, have distinguished themselves as two of the most efficient and popular trading platforms. Here, we will explore the workings of each, compare their features. We will also reach a verdict, as regards which of the two comes out on top in our Coinigy vs TradingView review.
What Is Tradingview?
TradingView is one of the most utilized analysis platforms in the investment world. It offers various tools to carry out technical analysis of multiple markets. Here, investors or traders can access a long list of drawing tools or indicators for their technical analysis needs.
Also, it enables a community-based system where traders can learn and share analysis or collaborate with other traders. While TradingView software supports several market sectors, users of the platform, however, have a strong affinity for cryptocurrency-based analysis. This notion is evident in the number of crypto price analysis posts found on the website. For every quality contribution added to the website, the analysts responsible for such posts stand a chance of building a strong following.
According to TradingView’s website, investors have published 3.5 million trading ideas and created over 18.5 million charts.
What Is Coinigy?
Coinigy is also charting software that is very much similar to TradingView, albeit with one or two unique features that help it carve a niche for itself. For one, this platform was solely designed to cater to crypto traders. Therefore, it comes with options that allow users to sync charts from their chosen crypto exchange, which is a plus for traders who want to stay ahead of the often-unstable crypto market.
TradingView Vs Coinigy
Now that you have understood the basic operations of both platforms, the next section will discuss the factors that define the efficacy of trading software. As well, it will examine the performances of both platforms based on these recommendations.
What Is the Quality of The Charting Software?
Needless to say, Coinigy and TradingView are aware of the importance of charting tools to traders. And they have gone about offering these tools to their users in two distinct ways. For TradingView, it opts for HTML5 charts, which allows users to pick from over 50 intuitive drawing tools to work on various chart layouts. While this a given, it also caters to a larger demographic of traders, as it supports multiple markets. As such, it is easy for users with diversified portfolios to manage and analyze the market trends of their holdings on just one platform.
Moreover, TradingView does much more than provide technical analysis infrastructure. There is a news layout available on the platform, which users can survey to perform fundamental analysis.
Unlike TradingView, Coinigy streamlines its services for crypto traders, which might initially come as a limitation. A closer look reveals that it is one of the strengths of Coinigy. This platform supports a myriad of cryptocurrencies, as opposed to TradingView’s capacity to only support popular coins. In light of this, Coinigy is suitable for traders who invest most of their funds in the burgeoning crypto market. Likewise, Coinigy does not support HTML5. Instead, it permits users to integrate the charts of their favorite exchanges and execute trades.
Although this might seem like a downside to some, crypto traders, however, revel in this charting model. It allows them to compare prices on different exchanges and profit from their disparities. From the information gathered from Coinigy’s website, the platform supports over 40 exchanges’ charts, and users can trade on 11 of these exchanges directly from Coinigy.
What About Their Pricing?
Pricing would always come to play when comparing these platforms, as both have set up more than one subscription plan for their customers. In this section, we will consider the details of these plans and the pricing of each.
In the case of TradingView, it offers Basic, Pro, Pro+, and Premium multi-tier subscription plans that range from $0.00 to $59.95 per month. Also, it has a 30-day free trial plan for each, which allows users to get a feel of the opportunities embedded in each package. As the name implies, subscribers of the Basic plan have restricted access to features found on TradingView. For instance, the Basic plan permits only one chart per tab, as opposed to the 8 chats per tab offered to the Premium plan subscriber. The Pro and Pro+ plans cater to users who are not in need of the over the top features of the Premium plan, and yet, would require a bit more than what the Basic plan offers.
One could argue that it’s the user’s experience as a crypto trader, as well as the volume of trades he or she executes, that should determine the subscription plan that is the best fit.
Coinigy, on the other, sticks to a three-tiered subscription package that includes a Starter Account, a Pro Trader plan, and an API Developer Pro plan. According to the platform’s website, the Starter Account is a 30-day full-featured free trial plan where users can access 24/7 portfolio tracking features, mobile app access, email alerts, security support systems, and charting with over 75 technical indicators. The Pro Trader plan, which has a $18.66 price tag (when purchased annually), offers extra features in addition to the ones listed under the Starter Account. Subscribers are eligible to unlimited API, unlimited chart layouts, advanced order types, and unlimited session length on the Arb Matrix app. Then there is the API Developer Pro with a subscription fee of $99.99. This plan comes with all of the features accessible to Starter and Pro Trader subscribers, in addition to premium support systems. Comparing the subscription plans of the two platforms, you will agree that Coinigy price plans is a bit on the high.
What Is Their Customer Support Like?
There is no doubt that the trading features on both platforms come with technicalities that may seem complex to new traders. As such, Coinigy and TradingView have set up 24/7 customer services. This assertion spurred us to take a look at the customer service culture of the two platforms under review.
From our research, we discovered that both solutions have dedicated a lot of resources to customer support. This notion holds as Coinigy provides an array of tutorials on how to implement and use the features on its website. Also, the company has an active online presence. At the time of this research, the regularly updated Coinigy twitter account had 19,000 followers. Besides, Coinigy’s email support is a standard feature offered to all of its customers, regardless of the plan they subscribed to. More remarkably, Coinigy shares its phone number on its web page, which means that it enables phone-based customer support. And, it provides a 24/7 customer support that is available in the form of a help desk or via live chat.
The same is true for TradingView. It has a help center on its website where users can access quick fixes to frequently encountered problems. Likewise, it has an active online presence, with its twitter account boasting a follower base that is 74,000 strong. However, we couldn’t find TradingView’s customer support helpline while researching its support systems.
Are They Mobile and User-Friendly?
There is an unwritten rule regarding the importance of user-friendly designs and layouts, particularly for loaded websites like the two under review. From what we have learned so far, it is safe to say that both platforms are aware of the role user experience plays in promoting seamless navigation through their maze of features. And so, Coinigy and TradingView adopted simple and intuitive designs.
Though much of the activities of users on its platform entails charting and trading on third-party websites, yet Coinigy does enough to provide a seamless trading ecosystem. TradingView follows a similar trend, as it takes a simpler approach to technical analysis, thanks to the enablement of an analysis sharing tool, which helps new entrants to fast-track their learning curve or access timely signals.
Seeing that Coinigy and TradingView both value a user-friendly business structure, it was not surprising that they have launched mobile apps to promote their accessibility. With this, users can carry out several tasks on their mobile phones, since the crypto market waits for no one. In other words, users can receive notifications and alerts on moving averages, track price fluctuations, or enter trades without having to sit in front of a computer screen all day. Both trading services are available for iOS and Android devices.
Do They Provide Alerts and Notifications?
As earlier stated, notifications and alerts are crucial to crypto traders. Therefore, Coinigy and TradingView have established alert systems as one of the basic features to help users stay abreast of developments in the crypto markets. TradingView, on the one hand, offers audio signals, email alerts, SMS alerts, and visual pop-ups. On the other hand, Coinigy makes do with email-alerts, in-app notifications, SMS alerts, and price alerts. And so, users can set alerts for Coinigy moving average alerts for a particular cryptocurrency.
How Do They Compare Security-Wise?
You will agree that security is an important aspect of trading solutions. Using one would likely entail that you link your exchange accounts to access some features. This notion holds for Coinigy since it relies on third-party integrations with crypto exchanges. More so, it comes with special portfolio-tracking tools for assets held on crypto wallets. Hence, there is a good reason to be skeptical of the viability of its security systems.
However, according to its website, Coinigy utilizes enterprise-grade security in combination with a multi-tiered server architecture to beef up the safety of its users. Also, there is strong encryption for user data, as well as 2FA authentication, to ensure that details are not susceptible hacks. While Coinigy charts thrive on third-party integrations, the platform does not handle users’ crypto assets directly. Instead, all transactions are executed on exchanges while Coinigy only enables a multi-exchange ecosystem for users to execute trades on one or more crypto exchanges.
For TradingView, security is also an important factor. This assertion is evident in its bounty program that rewards people who find and report security vulnerabilities of its platform. As it is with Coinigy, TradingView utilize two-factor authentication. And since this platform does not necessarily facilitate trades, users are not as susceptible to attacks as those using Coinigy.
After exploring the features of Coinigy and TradingView, we found that both platforms offer impeccable trading services, albeit with slightly different strategies. On one hand, Coinigy chooses to fixate on facilitating crypto trading services while TradingView, on the other hand, enables a broader ecosystem for traders. Hence, it was a tad difficult to rate one platform above the other. Both platforms have strengths and weaknesses, which eventually cancels out the advantage that one has over the other.
Based on our research, Coinigy excels in its operations streamlined to cater to crypto traders. As well, TradingView takes charting to new heights with its community-based ecosystem that promotes the sharing and learning of the fundamentals of trading.
Which of the two should you choose?
Well, the answer to this question is not as straightforward as you would have expected. We advise that you base your decision on the nature of trading activities you are looking to adopt. If you have your portfolio distributed across several markets, then TradingView is the ideal choice for you. However, if it is crypto trading that you want to focus on, then Coinigy is the right fit.
Nonetheless, do not forget to consider other factors explored in this review. For one, the pricing and lowdown of the subscription plans available on each platform should also inform you as regards the right platform to choose.