Why use a platform? ( very noob, sorry)

Beginner Questions
1

Hi guys,

Im sorry im very new to this. I come from binary options trading. In short we use tradingview for our TA, and then take the trade on the binary broker site.I use etx capital for my binary trading, they offer forex as well and after checking the forex side it looks like you can set your stop loss/ take profit etc on the site it self so is the trading platform just a more advanced type of 'tradingview"?

It seams you need to download a trading platform mt4/ninjatrader etc from what I saw. Why is this?

Very noob at forex :frowning:

Thanks
Steven

2

The trading platform is all in one package that you can control on your own computer. It’s very practical way to trade.

3

Thanks for the reply.

I havent done much work on MT4, but i see the broker im gonna use has a web based platform and then mt4 platform. Is there any dis advantage if I use “tradingview” to do my technical analysis and just take the trade on the web platform?

4

I haven’t used Tradingview, so I can’t really give you a good answer there, but regarding web-based platforms and MT4: MT4 actually has a web-based version that most big brokers offer, so you can always try that as well.

5

You can very well just use trading view and then execute your orders at your broker or, from what I’ve seen there will soon also be direct trading supported within Tradingview at a number of brokers, so no worries at all, BinarySteven!

Hope this is useful information to you
Seb

6

Metatrader4 is good platform. It provides trader with all needed info (market depth and other indicators, charts, etc). It’s very handy and there is a web version if you don’t want to download any software.