eSignal Review: Look What We Discovered!
eSignal has been around for a while, but they have never had the best reputation in the trading world. It was always thought of as being slow and not user-friendly.
But what if I told you that they are now one of the most advanced platforms on the market? What if I told you that eSignal is faster than ever?
We recently tested out their features to see just how good they are these days. Read our review below to find out!
The Best eSignals Review
What is the eSignal Trading Platform?
eSignal is a comprehensive, customizable trading program and charting service designed for serious traders.
eSignal offers all of the features required by today’s demanding trader: technical analysts, market news, and research reports, futures trading system analysis and execution, detailed stock analysis with earnings estimates and analysts’ recommendations; complete historical market data; an online learning center; indicators such as ADX/DMI (Average Directional Movement Index/Directional Momentum Index), OBV (On-Balance Volume) and many others; over 25 drawing tools including Fibonacci retracement levels; real-time options pricing among others.
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Who should use this trading platform?
ESignal markets its platform as having one of the best user interfaces in the business, and it is very true that the interface is easy to navigate.
The software also comes with some of the most advanced analytical tools on the market and provides tools for active traders who are beginners as well as experienced traders.
From a detailed analysis of market conditions to advanced indicators, professional active traders will find many tools they need to be successful on the platform.
ESignal also has a large library of educational material that can help users become more familiar with all aspects of trading and technical analysis.
eSignal is designed primarily for retail investors looking for a user-friendly stock trading system without advanced features like advanced analytics or complex trading functionalities.
What are the best features of eSignal trading software?
It is an automated stock screening tool that searches the market for favorable investment opportunities.
The Profit Scanner scans stocks on 36 different timeframes, analyzes their daily highs/lows, volume, and price movement to find stocks with high potential for realizable gains while minimizing loss risk.
Futures trading system
Futures trading analysis and execution are available free on eSignal through its partnership with FXCM UK Limited – a leading global provider of online margin FX trading and CFD trading.
Customers benefit from the power of eSignal’s real-time market data, including streaming news feeds, while being able to trade on eSignal charts through FXCM’s ultra-fast platform with no additional software installation required.
Standalone charting platform
Charting Platform clients have quick access to switching between real-time, end of the day, and historical quotes on the same chart.
Along with this functionality, using charting software users can now load up to three charts simultaneously in eSignal, displaying different timeframes for each.
Easily build with a charting platform by selecting stocks directly from the chart you are viewing or by using a variety of other customizable features in charting software.
You can choose to have your portfolio updated in real-time or at predefined charting intervals for multiple windows throughout the day using this perfect charting software.
Charting platform Portfolios can also be shared via social media platforms such as Facebook and Twitter.
It is a nearly full-featured news aggregator which brings all of the latest news stories from major and regional newswires, blogs, and financial portals.
This is a valuable tool for traders as they can stay up to date with the latest happenings in the market and react appropriately.
Advanced analytical tools
The charts in eSignal include all of the tools and technical indicators, active traders need in one comprehensive program: technical analysis (drawn by users from several different timeframes), market breadth/trend, volume market profile, earnings estimates, and analysts’ recommendations via Desktop Edition.
Charts are displayed by default with an overlaid grid which provides scalpers with a quick reference tool for trades executed.
Users can also place a variety of different annotation tools on their charts which allow them to quickly jot down notes or draw onto the charts.
The software includes a wide range of built-in analysis tools from popular third-party services such as MetaStock, Thomson Reuters, and DJI.
eSignal also has live screeners that allow users to choose their criteria in order to find the most profitable stocks according to different variables.
Users can set up their own custom-built screener or use one of eSignal’s many preloaded ones, including options trading screens, industry group/sector screens, earnings pops and drops, etc.
The software also includes a powerful scanning tool that allows users to save/share their scan results or apply them to watchlists so they are notified when the chosen variables are met by any of the watchlisted companies.
eSignal’s software is highly customizable for users with specific trading styles and timeframes. In addition to being able to load up to three real-time or end-of-day charts simultaneously in eSignal.
Active stock traders can now apply streaming quotes directly from a ticker plant to any open chart without having to manually refresh it using other quotes feeds.
eSignal learning center
The learning center is a knowledge base of educational lessons covering topics such as options trading strategies, seasonal trends, and the basics to apply technical analysis, among others for informational purposes.
The learning center knowledge base has a large collection of content which is beneficial if you are a beginner or experienced trader looking to learn more about using customizable charts when trading stocks.
In addition, they offer live streaming quotes on all major exchanges around the world (excluding China), news updates like dow jones headline news, and advanced charting capabilities with over 100 technical indicators per tool.
It also covers most futures contracts in the United States including livestock, CBOT grains, metals, stock indexes, currency pairs, and futures contracts from the ESF.
Drawing tools and annotations
Users can also draw onto their charts in the eSignal mobile app with the use of several built-in tools and choose from a selection of 100 symbols to annotate.
The software also includes an advanced scanning tool that allows users to save/share their scan results or apply them to watch lists so they are notified when the chosen variables are met by any of the watchlisted companies.
eSignal has partnered with DJI (one of the world’s most trusted names in market indicators) to provide an extensive library of more than 60 technical tools that allow traders to better analyze many different timeframes for stocks and options contracts.
The suite includes indicators such as ADX/DMI (Average Directional Movement Index/Directional Momentum Index), OBV (On-Balance Volume), and many others.
eSignal has established direct connectivity with some of the largest global exchanges which enable traders to seamlessly place limit orders and execute trades directly from their charts without having to visit each exchange’s website individually.
eSignal mobile also has strategic partnerships with several of the largest banks around the world, allowing traders to send/receive wires and ACH transfers directly from their day trading desk.
The cost of the service
eSignal offers an elite plan, classic plan, and a signature plan for day traders
The classic plan is the most basic of all their software packages and offers limited charting functionality.
You can access real-time data streaming quotes and monitor them on a daily basis without any limitations.
Here, eSignal offers limited functionality and many day traders complain that it offers little value at its current price point.
However, eSignal’s monthly subscription fee of $199 might be worth it for those looking to save time from manually tracking quotes across multiple sources.
The signature plan is comparable to other day trading platforms of its kind in terms of features and usability.
The feature that differentiates this package from the rest is access to all major international exchanges, but you can find similar data for free through eSignal’s website.
The signature plan includes access to all major exchanges without any real money around the world, but you can find similar data for free through the eSignal website.
Every version of eSignal comes with powerful scanning tools which can be very useful for traders who want to save time and work on one screen instead of several.
The elite plan offers the same features as their signature package.
But also has a built-in market screener plus scanner which can be useful for traders to find new day trading opportunities in real-time.
Other than that it provides the same set of features as eSignal’s signature edition, including access to all major exchanges around the world and news updates.
Traders who are brand new to using eSignal may struggle with this software because everything is in a different color making it difficult to navigate through without a lot of experience in terms of how the software functions.
eSignal ELITE includes access to multiple real-time data feeds that come straight from exchanges around the world including Intercontinental Exchange (ICE), London Stock Exchange Group PLC’s FTSE ticker plant, SIX Swiss Exchange, Euronext Paris, and BATS Exchange.
This feature is invaluable for traders who need access to different regions at once or are looking for more consolidated data.
More than 14 million market professionals use eSignal worldwide across multiple devices ranging from smartphones, tablets, and PCs.
All versions of eSignal are supported by an international full-time customer support team that provides 24/7 customer support to day traders.
Benefits of using the software
eSignal offers real-time data from more than 50 countries with over 300 exchanges in its global network plus access to historical quotes and bar charts going back to 1998.
Users can customize their charting experience by creating an unlimited number of technical studies, time frames, and price bands.
The software also offers a full suite of drawing tools that allow interactive brokers to create trend lines, channels, Fibonacci retracement levels, and different types of support/resistance levels on any timeframe.
In addition to the standard interactive data displayed on a quote page for each underlying product of the broker integration, eSignal platform provides users with detailed analysis for stocks on the major indices such as the S&P 500 Index (SPX), the Nasdaq 100 Index (NDX), etc.
It also offers earnings estimates and analysts’ recommendations for each underlying product via its Desktop Edition without any exchange fees.
You get free exchanges through apps store and you don’t have to spend real money to place trades.
The charting functionality includes both daily and intraday data which can be applied to real-time streaming quotes for free (even though there are limitations).
The learning center is also helpful for beginners who want to learn more about analysis or how to manage their trades.
The cost of eSign may seem high at first, but it is a one-time payment for life and does not include any other third-party subscriptions, so you just pay for the software and nothing else.
Drawbacks of using the software
Traditional eSignal platform users are not happy with the new colors used throughout the platform, but other than that it is an easy-to-use software with great charting features.
Unfortunately, there are no additional benefits associated with having an elite or signature account aside from access to more exchanges via live streaming quotes.
One of the most common complaints about the platform is that it uses different colors across all submenus which makes it difficult to navigate through without a lot of experience in terms of how the software functions.
This problem may seem minor but becomes a serious issue after spending hours upon hours looking at charts each day.
It is essential that you understand the platform before jumping into it as it uses different colors across all menus which makes it difficult to navigate through without a lot of experience of how the software functions.
The other better platforms to explore for day traders are:
It offers users access to over 10 years of historical data and 1,200 stocks, ETFs, indices, futures, options, mutual funds, and EFPs.
It also includes research tools such as earnings estimates by Thomson Reuters I/B/E/S and recommendations from Wall Street analysts. According to our eSignal review summary, this is a better option instead.
This platform is among the most beginner-friendly and has a user-friendly interface. IQOption also offers basic beginner analysis tools such as Fibonacci retracements and Gann angles.
This brokerage offers free access to its trade ideas product with no expiration date, which is ideal for beginners who want to try out their strategies on an equal playing field when competing with experienced traders.
4. Topstep Futures
This is one of the only platforms that provide educational content such as webinars, lessons, blog posts, and videos dedicated to explaining how futures markets work across different time frames.
This spreadsheet-based platform comes equipped with multiple technical studies for each underlying asset, so you do not have to create your own.
Additionally, it offers great chart market tools on top of an easy-to-use interface which makes it a good choice for both new and professional traders alike.
This is one of the only platforms that provide educational content such as webinars, lessons, blog posts, and videos dedicated to explaining how forex low-performing markets work across different time frames.
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As per our eSignal review, eSignal is one of the good software options on the market. It comes with its own downsides like any other platform, but it still provides users with great charting tools and detailed analysis for stocks, ETFs, indices, futures, mutual funds, and more.
There are multiple benefits associated with Trade Ideas compared to all the platforms on the market today. It offers everything you could ever need to enhance your trading experience all under one platform.
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Author: J Maver
Passionate in tech, software and gadgets. I enjoy reviewing and comparing products & services, uncovering new trends and digging up little known products that deserve an audience.