When comparing WhatsApp vs Echofin, the Slant community recommends Echofin for most people. In the question“What is the best team chat software?” Echofin is ranked 20th while WhatsApp is ranked 54th.
Ranked in these QuestionsQuestion Ranking
Pro Straightforward interface
The interface is very simple, fast and easy to use. You can start using it as soon as the app has been downloaded - it does not require setting anything up or registering. You can communicate with anyone in your contacts list that also uses WhatsApp. Includes useful features like seeing when a contact is currently available or typing.
Pro Widely used
WhatsApp reported 1.5 billion users in 2018. Your friends are most likely already using WhatsApp, so it's easy to get setup.
Pro Effortlessly builds your contacts by using your phone number as identification
WhatsApp will automatically find all of your contacts currently using Whatsapp and add them to your contacts. This makes it really easy to setup and given that it's the most popular messaging app it's likely that a lot of your contacts are already using it.
Pro Message mirroring on web app
WhatsApp can be used from the desktop via Chrome, Firefox and Opera browsers. Accessing it requires using the Android app to scan the QR code that's presented on web.whatsapp.com.
Pro Signal protocol
Whatsapp uses the state-of-the-art Signal protocol that ensure strong end-to-end encryption.
Pro One-on-one texts can be encrypted
WhatsApp has implemented end to end encryption for messages sent on it's service. Even WhatsApp has no way to read a users messages.
Pro Beautiful UI
Pro Powerful financial widgets
In-app widgets, such as an economic event calendar and news feed, are available.
Pro Ability to add pay-to-access content
You can host pay-to-access webinars.
Pro Mobile, web and desktop apps
Pro HD video streaming
Pro Integrated billing solution
Pro Screen sharing
Pro Chat software specifically for trading teams
Pro Admins have full moderation and user control
Pro Talking twitter widget
Pro Third-party integrations
For example, you can integrate the app with your MT4 web client.
Con Shares meta data with Facebook
WhatsApp shares your messaging meta data with Facebook if you do not opt-out in the settings. If you use the same phone number for WhatsApp and Facebook, the profiles can easily be linked.
Con Tied to carrier phone number
WhatsApp cannot be used by people without a smart phone with an active cell plan. If your phone is lost or damaged, or if your phone number changes, you cannot get messages sent by friends without them updating your phone number. You cannot send message to them until you are able to get SMS messages at your phone number.
Con Single device
You cannot use the same WhatsApp account on multiple devices (e.g. a tablet, a PC and a cellphone). The account is tied to the device with the specific cellphone number. Chat history is deleted when you sign in to a new account, unless you have created a backup.
Not open source.
Con Hard to migrate history cross platform
Migrating your chat history from Android to iOS or the other way around is not so simple. In some cases it requires a 3rd party app and in some the only way is to migrate specific chats one by one.
Con No cloud sync
Messages are not stored on WhatsApp server for privacy and security reasons.
Con Limitation on shareable file sizes
WhatsApp now allows users to share files of any type, but there is still a 16 MB size limit.
Con Web interface uses message mirroring
To use your computer to send messages your phone must be on with a consistent data connection.