Which is better MT4 or TradingView?
Conclusion: Embracing the Right Trading Platform
TradingView has over 100 built-in indicators and drawing tools, while MetaTrader has over 30. However, MetaTrader allows traders to create their own custom indicators using MQL4 or MQL5, which can be a significant advantage for advanced traders.
If you are a forex or CFD trader who wants a powerful platform with a wide range of features and customization options, then MT4 is a good choice. If you are a trader who wants a platform that is easy to use and has a wide range of markets and instruments available, then TradingView is a good choice.
Koyfin is the TradingView alternative. Koyfin's powerful financial analysis tools, customizable charts, and flexible pricing options make it a top choice for investors seeking an alternative to TradingView.
We've introduced three most comprehensive packages (Expert, Elite and Ultimate) designed specifically for Professional (Commercial) traders.
TradingView cons
On the downside, TradingView is only for charting and doesn't offer order placement capabilities that can offset high frequency traders and scalpers.
While TradingView allows you to connect both MetaTrader 4 and MetaTrader 5, and access all the platform's features on the assets of your choice, you cannot place trades directly on TradingView.
Although MT4 was specifically built for Forex trading, the platform can also be used to trade other assets such as stocks, indices, and commodities via CFDs. Both beginners and experienced traders appreciate MT4 because it is multi-functional, user-friendly, and allows users to customize the interface to their needs.
Its user-friendly design suits beginners, while its advanced features cater to the needs of professional traders. With robust technical analysis tools, and the ability to automate trading strategies, MT4 provides the ideal solution for all traders.
TradingView is the best charting platform on the market. It's fast, powerful, reliable, and extremely easy to use. That's why it's used by more than 50 million traders worldwide. If you're an active trader and are serious about your trading, you should try TradingView Essential or Plus.
Who is TradingView's biggest competitor?
- Binance. Compare.
- Gazelle.ai. Compare.
- Refinitiv Eikon. Compare.
- Kantar Marketplace. Compare.
- Lead411. Compare.
- Similarweb. Compare.
- S&P Capital IQ. Compare.
- Semrush. Compare.
Both platforms grant direct access to financial markets through a forex broker and provide advanced trading tools. TradingView is a powerful charting platform and social network for traders. MetaTrader 4 has a strong algorithmic trading focus with reliable execution.
TradingView is perhaps the best platform today to get started in the world of trading. Although TradingView can be used by both beginners and more experienced traders, its intuitive interface and numerous tools make it especially useful for those who are just starting in the trading world.
Overview of TradingView Plans
Free - Limited features but provides core charting and analysis tools. Pro - $14.95/month or $155.40/year. Upgrade for more indicators, alerts and customization. Pro+ - $29.95/month or $299.40/year.
Do I need a broker for TradingView? Yes, you'll need a broker that supports TradingView integration if you want the ability to execute trades, track your orders, and/or manage your positions from within the TradingView platform.
- Interactive Brokers - best broker for TradingView in 2024. ...
- Webull - Free stock/ETF trading and high 5% interest on uninvested cash. ...
- Ally Invest - Low trading and non-trading fees. ...
- Oanda - Great trading platforms. ...
- Forex.com - Low forex fees. ...
- Optimus Futures - Low trading fees and free ACH withdrawal.
| Company | Forbes Advisor Rating | BEST FOR |
|---|---|---|
| Interactive Brokers | 4.4 | Best Online Broker For Traders |
| TD Ameritrade | 4.4 | Best Online Broker For Beginners And Best For Mobile App Users |
| Fidelity Investments | 4.4 | Best Online Broker For Everyday Investors |
| Charles Schwab | 4.3 | Best Online Broker For Customer Service |
Conclusion. As you've learnt, traders choose TradingView for its powerful charting capabilities, vast array of analysis tools, and the ability to connect with a vibrant trading community. It provides them with the necessary resources and insights to make informed trading decisions.
| Raw Account | TradingView Account | |
|---|---|---|
| Minimum Deposit: | $100 | $100 |
| Min. / Max. Trade Size | 0.01 lots / 100 lots | 0.01 lots / 100 lots |
| Margin Call Level | 80% | 80% |
| Stop Out Level | 50% | 50% |
For active traders, TradingView premium can certainly be worth it. The key premium features like advanced alerts, more indicators, backtesting, enhanced analytics, and screeners give you an information edge in analyzing the markets and executing trades.
Can you copy trades from TradingView to MT4?
You can copy trades from Tradingview as long as they are MT4/5 accounts. We believe pending orders are not being opened on the MT4/5 terminals when being made from Tradingview, which results in them not appearing on our system until the order has been filled.
To start trading through FOREX.com on TradingView you need to do the following: log into TradingView with your credentials; go to www.tradingview.com/chart and open the Trading Panel; select FOREX.com as a broker and log in using a live or demo account.
The MetaQuotes move indicates that the company is very cautious when it comes to offering services using its platform to US clients. The two MetaTrader apps were banned on Apple's App Store in 2022 for their alleged use by fraudsters targeting the US citizens and residents.
In September 2022, a ban on the MT4 and MT5 apps in Apple's App Store, which affected all markets, made headlines. Though the reasons for the decision were unclear, there was speculation that it was related to trading scams published in the iOS app store, impersonating popular trading platforms.
Though MT5 is more feature-rich than its predecessor and has now surpassed MT4 in terms of the number of companies using the platform, no public statements have been made by MetaQuotes indicating that MT4 will be officially phased out.
