I recently moved from using IQOption to TradingView. Great service. However, after opening a paper trading account, I noticed that there doesnt seem to be any form of margin account in the site. I’m not sure if anyone uses the site and understands it a little better, but I can open up a demo account with the amount that i usually plan on trading, but I can put in trades for even 1 Million dollars worth. (Which makes no sense).
Anyone know how this works at all? Thanks.
TradingView is great to see ideas, do backtesting, see how the markets move among other things.
But when it comes to trading is better to use MT4 and use the demo account of the broker you will use live.
I really disliked MT4’s look. It felt so ancient. It’s probably due to my ignorance on forex programs and its probably been a program that people have used for a long time. But I cant get used to it.
I use Tradingview to see the charts and to enter the trade I use MT4
Well i trade with Forex.com, and it has a tradingview web program. It seems to be fine for entering trades. Besides the fact that theres no trailing.
Hi @Zhadow45,
In addition to TradingView, the login details for your FOREX.com trading account give you access to our Mobile trading and Advanced trading platforms. These platforms will let you set a trailing stop.
Hi again @Zhadow45,
In the image below, we have highlighted the section of the Account Manager on TradingView where you can monitor your margin.
In the example above, the demo account balance is about $50,000 and we have an open position with a notional value of 100K. That means our effective leverage is about 2 to 1, since 100K is 2 times 50K.
If you opened a position with a notional value of 1 million, with the same demo account balance, then your effective leverage would be about 20 to 1, since 1M is 20 times 50K. US forex trading regulations allow up to 50:1 leverage on major currency pairs.
We discussed effective leverage in more detail in this post: Capitalizing Accounts
This video has more information on how to use the TradingView platform and charts.
