Are you interested in the cryptocurrency industry? Then you may have come across Coinigy. Coinigy is a cryptocurrency trading platform that claims to have the tools and features you need to become a better crypto trader. Read our review to see if this is the right platform for you.
Coinigy.com is a one-stop cryptocurrency trading platform complete with solid tools that enable users to link and consolidate multiple accounts onto a single platform. To be clear, Coinigy is not a brokerage, but a platform that link accounts and wallets so users can manage them from a single location. Users can access over 40 digital currency exchanges and thousands of cryptocurrencies and pairs. All orders and trades can be executed from this platform, but some will require connecting the applicable APIs. This is a subscription-based web platform providing an incredible lens into virtually all crypto markets with the best technical analysis tools thanks to the integration of TradingView.com charts.
Coinigy Pricing Options
Coinigy offers three types of accounts to get users of all skill levels acclimated.
The Free Account is a 30-day trial with access to most of the features and some of the APPS like the newsfeed. It’s a great opportunity to kick the tires and experience the depth of the tools.
The Pro Trader costs $21.95-per month. Discounts of 5%, 10% and 15% are available if prepaid for the Quarterly, Semi-Annual or Annual plans, respectively. This plan provides access to all tools, unlimited APIs, chart layouts and access to Premium Features including ArbMatrix and unlimited session length.
The API Developer Pro is $99.95-per month and enables Coinigy Cryptofeed and Enterprise API Access in addition to priority customer support. This one is best for developers with coding skills.
Coinigy Platform Features
The flexibility of features is best taken advantage of by users with an affinity and background in coding, analytics and back-testing. Once users get through the set-up and configuration process, things move more smoothly but still require a bit of manual labor to run the features.
This is perhaps the best platform to use for charting cryptocurrencies because of the integration of TradingView charts and indicators. In fact, the charting is better than TradingView. How’s this possible? Because TradingView itself only provides a limited number of digital currency exchanges and pairs. Coinigy’s Cryptofeed provides access to 45-exchanges and over 4,000 crypto pairs, which users can apply TradingView’s technical analysis tools to. This means users can apply time frames from seconds to months using candlesticks, bars, line and Heikin Ashi charts, depending on which Coinigy membership you subscribe to. Coinigy provides the data access and TradingView provides the technical analysis tools that can be applied to interpret the data.
Utilizing the powerful tools from TradingView, users can access over 70 indicators and strategies to apply to their charts. From price indicators like simple moving averages, Keltner channels to Parabolic SAR, Stochastic RSI and MACD momentum oscillators, users have the full range of tools at their disposal. The technical analysis tools for mainstream crypto brokers are so lacking, it’s akin to riding a scooter compared to a throttling a Ferrari with Coinigy. The 30-day free trial membership gives access to these tools.
TradingView users will be familiar with this little tip, but make sure to turn on “Magnet Mode” on the chart so that drawings will automatically snap-to the exact tops and bottoms of the candlesticks. Failing that, you can drive yourself nuts trying to accurately connect trend lines.
Market Depth Level 2 Liquidity View
The bid and ask size window also provides a depiction of liquidity with red and green depth graphs in the background. Basically, it’s a crypto version of level 2 but the background shows you were the big sizes are sitting. It makes for a quick and convenient view of liquidity and potential support and resistance price levels. However, just like a level 2 screen, the depth can vanish quickly so it’s important to have the charts to verify actual trends. Just like a level 2 window, you can click a price level to bring up the order screen relative to the exchange and account your wallet is held at.
Coinigy provides a newswire feed that pulls various articles and educational content from various free sources like Coin Telegraph, Coinbase and Forbes . There really isn’t much by way of cryptocurrency news hitting mainstream newswires unless its some type of legislation.
Users have access to a number of features which are called APPS. These range from scanners including ChartScanner and SocialScanner, which scans for specific patterns and comments to ArbMatrix, which displays potential arbitrage situations between pricing differences amongst the various exchanges. Most of the APPS require a paid subscription for access.
Order Entry/Compatible Exchanges
The order entry window pops up from the level 2 DOM by clicking price level. Order entry format is identical to the underlying exchange where your linked account resides. For example, GDAX orders get the typical order screen found on your Coinbase Pro account. Unfortunately, Coinigy has no say in the clunky outdated format of some of these exchanges.
Customization and Saved Layouts
Charts can be saved and even set to autosave. This is a boon for traders will multiple accounts across many different exchanges. Free memberships come with limited access to tools, APPS and layouts. The paid memberships allow you to save more layouts.
How Does Coinigy Stand Out?
Coinigy is an amazing platform that houses all your crypto trading accounts under one roof. The ability to apply technical analysis tools powered by TradingView truly gives them the edge above other one-stop platform integrators. I like the Beta version 2.5.3 for the streamlined clean and intuitive dashboard. The mobile app is very impressive with full trading access.
What Type of Trader Coinigy is Best For
Coinigy is best for cryptocurrency traders that want to consolidate multiple accounts into a single one-stop platform. The enhanced speed and efficiency bolstered by no longer having to flip through multiple windows can’t be understated.
- Consolidates all trading accounts, wallets and exchanges into a one-stop platform
- Integrates the most powerful charts and technical analysis tools with TradingView
- Seamless access to 45 exchanges and over 4,000 digital currencies and pairs
- Low-cost subscription-based, not trade ticket-based like Multi Chart and Ninja Trader
- Arbitrage opportunities can be traded
- Speed and efficiency are enhanced
- API integration doesn’t work for U.S. residents on certain exchanges like BitMex
- Set-up of API link to trading accounts can be time consuming