MetaTrader 4 (MT4) vs TradingView: Which Is Right for You? (2024)

FAQs

MetaTrader 4 (MT4) vs TradingView: Which Is Right for You? ›

So if you're a trader who values automated trading, cutting-edge analytics tools, and extensive broker options, MT4 might be your go-to. However, if you prioritise a strong community aspect and visually innovative charting tools, TradingView could be an alternative option.

Popular MT4 features

Traders prefer MetaTrader 4 because of its key usability features and functionalities. Let's explore some of these: Flexible trading system: The MT4 platform offers a high level of flexibility as it can be tailored to the specific needs of each trader.

Pros & cons of TradingView

Limitations of free version: While it offers a free version, it has some limitations. Users of free version may experience restricted access to certain features and data. Upgrading to a paid subscription is necessary for full access to all features and data.

Yes it is. It's trusted by more than 30 million traders because no one can find anything they don't like about TradingView. The trading view is good from here: Use the link below for your 30-day free trial and experience the difference TradingView makes: Start trading today!

Tradingview charts, time frames, zoom levels, indicators, and drawing tools are much more complete than Metatrader 5. Meanwhile, Metatrader 5 is superior in terms of automated trading support and traders can develop custom indicators. Chart type.

So if you're a trader who values automated trading, cutting-edge analytics tools, and extensive broker options, MT4 might be your go-to. However, if you prioritise a strong community aspect and visually innovative charting tools, TradingView could be an alternative option.

We've introduced three most comprehensive packages (Expert, and Ultimate) designed specifically for professional (commercial) users.

Other important factors to consider when researching alternatives to TradingView include features and price. The best overall TradingView alternative is eToro. Other similar apps like TradingView are MetaTrader 5, Binance Broker, E*Trade Web Platform, and Kite.

Can I connect MT4 to TradingView? ›

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.

TradingView provides all of the above and more to help you day trade from a wider perspective and a broader context of ideas.

TradingView offers a powerful platform that allows you to seamlessly trade derivative instruments such as futures directly from charts.

When you open your TradingView execution platform, you see the Buy/Sell buttons directly on your chart (1). In the middle of the field, you see the spread for the market. On the right, you can adjust the contracts. By clicking on either the Buy or Sell button, the order execution window opens up.

Easy comparison of instruments: Traders can easily compare different instruments on the same chart using TradingView. This feature enables users to identify correlations, trends, and patterns across multiple assets, facilitating better trading strategies.

MetaTrader4 is one of the most versatile platforms, allowing you to trade in not only forex but also other instruments, such as shares, commodities, indices and cryptocurrencies, via CFDs. All you need to do is download the platform, login to your trading or demo account and start trading.

One of the most significant advantages of MT4 is its multi-currency and multi-language support, which means you can trade in various currencies and languages. This feature enables you to trade with traders from different parts of the world and can potentially increase your trading opportunities.

Is the newer MT5 version better than the MT4 version? Both MT4 and MT5 are the official versions created and distributed by MetaQuotes Software. The new MT5 version is considered to be superior for stock trading and order management, while the older MT4 platform is considered to be superior for forex trading.