Hey!
I’m new to trading, I recently came to know that I can use TradingView to place live trades which is great because I really don’t like MT4.
Are there any disadvantages of TradingView in comparison to MT5/5 like broker availability or anything that I’m unaware of? I found that it’s much easier to read charts on TradingView and make decisions, obviously, I can read the charts on TV and place trades on MT4 but i would prefer to do it all on TV if possible
Thanks in advance for the answers!
I use mt5 to place my trades but tradingview to mark them up.
only that you would prob. want to get a monthly subscription to tradingview to stop the annoying pop ups .
Top Brokers — Verified Reviews by Actual Clients — TradingView
I’ve always preferred TradingView over MT4/5 because it’s live and you can log on to any computer and pick up where you left off. And it’s free if you just need the basics, you only have to put up with the regular pop-ups, which can be irritating.
MT4’s (and 5, but I’ve never used it) terminal is installed on each computer independently and can’t show you the TA you’ve spent hours doing previous on a different computer. But there are less limitations such as unlimited indicators (if indicators are your thing).
However, there are ways around this: Install the MT4 terminal on a laptop that you can take with you anywhere, or alternatively you can rent a VPS (virtual private server) for about $10 USD/month (per account) that attaches to your account which allows you to basically do the same thing.
Mt4/5 is also preferred if you’re running an EA or creating your own indicators because for one reason or another its language is more user friendly than TradingView for programmers. But you’re probably not too concerned about all that right now, it’s just something I’ve been learning a lot about recently.