eSignal

eSignal is an advanced charting tool designed for technical analysis. It comes with real-time data feeds, specialist drawing tools and custom charts. This review and tutorial will cover how to download and use the eSignal platform, plus pricing, features, alerts, and customer service. Our team have also ranked the best eSignal brokers available to UK traders:

What Is eSignal?

eSignal was created in 2001 and is owned by Intercontinental Exchange (ICE), the company that operates the New York Stock Exchange (NYSE). The latest web version 12 was released in 2019.

The platform is well-regarded for its catalogue of customisable charts and advanced analytical tools, including a powerful stock scanner, automated trading systems, volume analysis, and more.

eSignal provides market data across all major asset classes including stocks, indices, options, futures, ETFs, and forex. On the downside, eSignal does not support cryptocurrency investments like Bitcoin.

eSignal has been recognised with several awards including the Best Forex Technical Analysis & Software Provider, Best Decision Support Software, and Best Real-Time Data Feed.

How Does eSignal Work?

eSignal is an all-in-one trading platform, that provides all the data, tools, and functions needed for online investing. It operates at ultra-fast speeds, with up–to–the–second data from hundreds of global markets.

It is also available as a third-party plugin, which can be integrated with partner brokers’ existing terminals including Forex.com, Interactive Brokers, and FXCM.

eSignal is available for download to Windows PC devices only. System requirements include an updated Windows operating system. Unfortunately, the service is not compatible with Mac OS devices.

Installation Guide – Connecting eSignal To Your Broker

The platform has evolved with online trading capabilities that can be integrated via plug-ins directly to partner brokerage firms. Below we outline how to connect the platform to Interactive Brokers:

1. Login to the Interactive Brokers client area
2. Click Configure from the top menu, then API from the side menu
3. Select Settings and ensure the tick box is selected next to Enable ActiveX and Socket Clients
4. Open the eSignal programme and click Trade
5. In the Broker Manager screen, select the ‘+’ symbol in the upper left section and choose Interactive Brokers from the dropdown menu
6. Click Ok
7. Select Connection Settings and ensure the details match with the credentials in the Interactive Brokers platform e.g. the port number
8. Click Connect in the eSignal screen and accept the connection attempt
9. The integration is now complete. To check linked brokers, select the green icon in the bottom right of the platform interface

Features & Functionality

The eSignal core platform provides advanced charts, market scanners, alerts, watchlists, and broker integration while upgraded plans offer add-ons.

Standard functionality includes:

• Watchlists – Retail investors can create watchlists to monitor underlying assets and identify trading opportunities. Clients can also use the configurable watchlists from existing catalogues indicating instruments with large price shifts and relevant high/low prices.
• Technical Indicators – eSignal provides a large library of basic and advanced indicators including Fibonacci retracements, volume-weighted average price, and Elliott Wave. The flexible scaling approach provides simple chart resizing and different views when applying indicators.
• Charts – eSignal offers customisable charts with several options aside from standard bar and candlestick charts. This includes Heiken-Ashi, Point & Figure, and Histogram. The live charts enable complete scaling, with no resizing or overlapping issues. Our experts were impressed with the variety of charting intervals and time frames (seconds, minutes, days, etc), volume, range and tick.
• Market Scanner – The eSignal Market Screener Plus tool is a top-rated scanner using values, and fundamental and technical filters. It helps users source new trade openings without having to search through individual securities. Traders can run a custom scan or select from pre-built categories.
• Alerts – The eSignal alert feature helps traders stay in the loop of market opportunities whilst away from a PC device. Alerts can be enabled on the Watch List, Option Chain, Hot Lists, Detailed Quotes, and Market Depth windows.

How To Place A Trade

One of the easiest ways to place a trade on the eSignal platform is via the chart screen:

1. Select the double-arrow icon from the top chart menu
2. Use the Buy or Sell icons to open the order confirmation screen
3. Customise the order details and confirm the trade
4. Open orders will be labelled on the chart

Alternatively, you can right-click on the chart and select New Order or Trade from the top menu and then New Order.

Mobile App

The eSignal mobile app is available to download on iOS and Android (APK) devices, including iPads and smartphones.

Installing the application is quick and easy. Simply search eSignal mobile in the relevant app store. Tap the icon to start the download and installation on your portable device. You will need your registered credentials to get started.

At first glance, the eSignal app feels pretty complex, with a wealth of data and pricing information per symbol. However, the bottom navigation bar is simple to follow, with clear icons and easy switching between screens. This includes a watchlist window, a detailed quotes window by symbol, a custom chart window, and a live news feed. The app also has a handy text size slider in the top right of the application.

Accounts & Costs

eSignal offers three accounts; Classic, Signature, and Elite. Each profile offers various features with different pricing models and a 30-day free trial with a money-back guarantee.

The most expensive account provides access to all tools. For beginners or those new to eSignal, we would recommend signing up for the Classic account to get a feel for the features before committing to a monthly plan.

Importantly, eSignal is expensive vs competitors such as TradingView or TC2000.

Classic

The account is $61 per month or $51 per month on a 12-month prepaid basis (total of $612). This is similar vs the IQFeed Core service at $99 per month and TrendSpider Elite at $79 per month, though cheaper than the Trade Ideas Standard Plan at $118 per month or a MetaStock all-region subscription at $127 per month.

• Free online education
• Access to Market Screener Plus
• Extended intraday pricing history
• View up to 500 symbols in one session
• Delayed snapshot data (no live data available)
• Advanced charting and drawing tools such as Regression Trends and Time Cycles

Signature

The account is $204 per month or $155 per month on a 12-month prepaid basis (total of $1860).

• Strategy backtesting
• Free online education
• One year of historical data
• Real-time data streaming
• Level 2 market depth data
• Access to Market Screener Plus
• Access to the eSignal mobile app
• View up to 500 symbols in one session
• Data download compatibility with Qlink and RTD
• Access to news streams, commentary, and research
• Advanced charting and drawing tools such as Fibonacci and Pitchforks

Elite

The account is $416 per month or $335 per month on a 12-month prepaid basis (total of $4020).

• Strategy backtesting
• Free online education
• Extended historical data
• Real-time data streaming
• Level 2 market depth data
• Access to Market Screener Plus
• Access to the eSignal mobile app
• View up to 500 symbols in one session
• Trend analysis with 4 core AGET strategies
• Data download compatibility with Qlink and RTD
• Access to news feeds, commentary, and research
• Exclusive GET indicators and access to the advanced GET technical analysis platform
• Advanced charting and drawing tools such as Time and Price Squares, MOB, and Gann boxes

Registration takes around ten minutes and can be completed via the eSignal website. As a retail trader, ensure the Non-Pro profile status is selected when signing up.

New account requirements include submitting personal details, choosing a payment plan, and providing expected trading volumes for profile suitability.

Pros Of eSignal

• Advanced customisable charts, drawing tools and analysis features to generate trade ideas and suggestions
• Real-time data feeds across hundreds of financial markets with extensive price history information
• Educational and training content online including tutorials, YouTube videos, and user guides
• eSignal is compatible with many top UK brokers including Interactive Brokers and FXCM
• Mobile app compatibility to trade on the go

Cons Of eSignal

• Real-time data is not available to Classic subscription holders
• Add-ons come with an additional fee and must be purchased separately including the Advanced GET Scanner download at $495 per year and the Bollinger Bands Tool Kit at $25 per month
• Automated trading software is not available free of charge. All account tiers have a monthly subscription fee and comparing the Classic and Signature accounts vs the Elite profile, the price is expensive

Customer Service

eSignal customer support is available 18 hours per day, Monday to Friday (9 AM to 3 AM GMT). There is also a limited service on Sunday (6 PM to 3 AM GMT). Contact methods include live chat, telephone, and email:

• Phone Number – +44 (0)20 3948 6511
• Email – retailcustomerservice@theice.com
• Live Chat – Via the Contact section on the eSignal website

Account maintenance changes can be made via the eSignal website. There is also an extensive Knowledge Base with details on how to update a new username and password with the random generator, real-time exchange fees, EFS programming library, and details of how to cancel a subscription.

Training

The brand offers plenty of educational assistance via online webinars, video tutorials, and guides. The education hub is also easy to navigate, with clear course titles and information provided before you sign-up.

Courses include:

• eSignal Account Maintenance – How to create an eSignal account, sign-in support, demo account access, lifetime license access and subscription refunds
• eSignal Options Trading Essentials – Options analytix, real-time options scanner, advanced options modelling strategies, automatic spread builder, and order flow
• eSignal Trading Software – Multicharts data feed, indicators list, data manager, software prices, free download installation instructions, excel plugins, gap scanners, index symbols, quotes page, and IPO calendar

For new users, the forum section is helpful. Peer traders publish useful content such as symbol guide help, workspace navigation, and discount codes.

How To Compare eSignal Brokers

With leading brokers offering access to eSignal, there are several key areas to compare firms in:

• Customer Support – Although eSignal provides decent customer contact options, it is important to find a broker that also offers reliable support. This will help if you experience difficulties with indicators or data syncing.
• Paper Trading Profile – eSignal provides a 30-day free trial for all subscriptions on its PC platform. However, eSignal brokers should also provide a demo account to test their terminals risk-free. A practice profile can be used to get comfortable with the tools and features available.
• Fees – Consider trading fees when comparing brokers that offer eSignal. Commission charges and in-built spreads, alongside the relatively expensive subscription fees for eSignal, may erode profit margins. Look for a transparent fee structure before opening an account.
• Regulation – It is best to trade with eSignal brokers that are regulated by a trusted authority like the UK’s Financial Conduct Authority (FCA). Also look for customer safeguarding initiatives like negative balance protection and segregated client funds.

Should You Use eSignal?

eSignal offers experienced traders market scanning tools, rich product data, and custom charting, alongside straightforward broker integration. However, eSignal is relatively expensive vs competitors, and the most basic plan lacks real-time data streaming. Make use of the 30-day free trial before committing to a subscription plan. Also sign up with one of the best eSignal brokers for an optimum trading experience.

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