Tradingview Vs Metatrader - Which Platform Is Better?

(MENAFN- Daily Forex) MetaTrader 4 remains the industry leader for algorithmic trading, and TradingView is the market leader for social traders featuring modern charting software. Which trading solution is the best choice for active, profitable traders?

Our MetaTrader 4 vs TradingView comparison will give you the details you need to make the best decision for your trading requirements. Having the proper trading infrastructure ensures that you will trade what you want when you need it with minimal effort.
MetaTrader 4 Trading Platform – Overview

MetaQuotes Software Corporation released MetaTrader4 , or MT4, in 2005. It grew into the industry leader among algorithmic Forex traders and has stood the test of time. MT4 started as a Forex trading platform but grew into a multi-asset solution allowing commodities, futures , indices, equities, and cryptocurrencies, usually as CFDs.

MT4 is a powerful desktop trading platform, a lightweight web-based alternative, and a user-friendly mobile app. Traders can upgrade their MT4 trading experience with 25,000+ custom indicators , templates, and EAs. Some are free of charge, but the quality ones come with a price tag. The recent emergence of Capitalise AI , a third-party upgrade that allows algorithmic trading in a code-free environment, brought MT4 back into the spotlight, and it remains years ahead of its successor, MT5, which some brokers offer.

API trading is available, and the MT4 infrastructure remains the most versatile among all competitors. It caters well to advanced algorithmic trading solutions, professional traders, scalpers, and high-frequency traders. Many brokers expand their support for algorithmic trading with free VPS hosting, volume-based cash rebates, and ultra-competitive commission-based pricing.

Completing the one-stop solution for most trading strategies are the embedded copy-trading service and MAM /PAMM modules for traditional account management. Overall, MT4 caters well to retail and professional trading requirements Trading Platform – Overview

TradingView emerged as the market leader for social traders, where 50M+ traders share and discuss trading ideas. It launched in 2011 as a cutting-edge charting software but added support for automated trading and chart trading with select brokers.

It features 8,500 scripts using the Pine Script language, 600,000+ connected accounts, and 50M+ traders. Many TradingView users prefer the charting software but place their trades manually with their brokers. The TradingView website only lists 16 brokers that connect trading accounts to TradingView for chart-based trading. While that number slowly grows, TradingView is suitable for manual and social trading but inefficient for demanding trading strategies.

The best feature for advanced traders is API support, which delivers the charting package. Unless traders use the 16 brokers that connect to TradingView, they will manage portfolios with delays or manual execution, a notable disadvantage of TradingView Tools Compared

Our MetaTrader 4 vs TradingView comparison focused on the below aspects, and the table gives traders a snapshot of the most definitive differences between MT4 and TradingView.
MetaTrader 4TradingView

Indicators	30 built-in indicators, 2,000+ free custom indicators, and 700+ paid ones	100+ built-in indicators, including user-created alternatives
Backtesting	Available	Available
Stock screeners	Not available in MT4	Two stock screeners, one ETF screener, two crypto screeners, and one Forex screener
Trading execution	Broker-dependent (market maker, NDD, STP, ECN)	Broker-dependent (market maker, NDD, STP, ECN)
Broker availability	Excellent choice of 1,500+ brokers	A poor choice of 16 brokers
Costs	Free	Three non-professional subscriptions and three professional subscriptions
Community	50M+ trading accounts	50M+ traders but only 600,000K+ accounts
Coding language	MQL4	Pine Script
Demo accounts	Yes, and fully customizable	Yes
Add-ons, custom templates, scripts, EAs	25,000+	8,500+
API trading	Yes	Yes
Algorithmic trading	Yes, MT4 is the industry leader in this category	Yes
Copy trading	Yes	No
Social trading	No	Yes
MAM/PAMM modules	Yes	No Pros & Cons of Each Platform Before concluding our MetaTrader 4 vs TradingView comparison, traders should consider the pros and cons of each platform4 Pros of MT4Cons of MT4 Leader in algorithmic trading with versatile trading infrastructure and API trading Outdated chart design and user interface Available at 1,500+ brokers with an integrated copy trading service 25,000+ custom indicators, templates, EAs, and third-party upgrades like Capitalise AI MAM/PAMM module for multi-account and traditional account management TradingView Pros of TradingViewCons of TradingView Professional charting software with 100+ technical indicators Available with only 16 brokers for trading from charts Leading social trading community with 50M+ traders Subscription-based model Algorithmic trading via Pine Scripts and REST API trading Primarily for manual traders who execute trades elsewhere Screeners, live streams, and educational content Bottom Line MetaTrader 4 and TradingView are two of the most recognized names in trading, but which one is the better trading solution? Upon completing my MetaTrader 4 vs. TradingView comparison, the bottom line is that it comes down to individual trading requirements, with MT4 taking the overall lead.-p p-TradingView bests MetaTrader 4 with its charting package and social trading community. It is an ideal choice for manual traders, who prefer the professional-looking charts at TradingView, but most execute their orders elsewhere, often on the MetaTrader 4 trading platform. TradingView looks professional but fails to cater to professional trading requirements, reducing it to a retail crowd favourite. MetaTrader 4 looks dated but lies at the core of many professional trading solutions due to its versatile infrastructure, industry-leading position among algorithmic traders, API support, integrated copy trading service, and MAM/PAMM modules. MetaTrader 4 is available at 1,500+ brokers compared to 16 brokers for TradingView , and MT4 is free, whereas TradingView has 6 subscription-based models. Therefore, TradingView looks better, but MT4 trades significantly better, making it the leading professional choice Is MetaTrader better than TradingView? It depends on what traders require, but MetaTrader is the overall better choice for advanced traders due to its extensive support for algorithmic trading, MAM/PAMM modules for multi-account and traditional account management services, and its versatile infrastructure. TradingView is ideal for social traders who value cutting-edge charts and manual order execution. Does TradingView work with MetaTrader 4? TradingView does not work with MetaTrader4 or any other out-of-the-box trading platform. Many traders use TradingView to analyze charts due to its superior charting package and enter their orders in MetaTrader4 TradingView the same as MetaTrader? TradingView is not the same as MetaTrader. The former is charting software supported by 16 brokers for direct trading from the chart. The latter is the leading Forex trading platform available from 1,500+ brokers. Which platform is better than TradingView? MetaTrader4, MetaTrader5, cTrader, ProRealTime, and most proprietary trading platforms are better than TradingView in all aspects except charts and trading community. Therefore, traders' requirements will dictate which trading platform is the best. Do professional traders use TradingView? While TradingView has three subscription plans for professional traders, it is not a popular choice among professional traders. TradingView caters best to social traders, a popular approach among the retail crowd. The charting package is excellent for pro traders, but the extent to which TradingView enables algorithmic trading trails competitors. Therefore, most professional traders use alternatives. TradingView looks very professional but does not meet demanding trading requirements. Which brokers offer TradingView? TradingView lists TradeStation, Oanda, Capital, Eightcap, FX Open, FXCM, Forex, Pepperstone, Tradovate, ActivTrades, Interactive Brokers, Saxo, Spreadex Trading, City Index, Bitstamp, and Tickmill under its Brokers category. Christopher Lewis Christopher Lewis has been trading Forex for several years. He writes about Forex for many online publications, including his own site, aptly named The Trader Guy.

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