Most traders tend to use other third-party platforms linked to their brokers because they typically offer more functionality and third-party tools for analysis and trading. As a beginner or advanced trader, consider a Tradingview login or another platform like Metatrader4 (MT4). Your choice should be influenced by factors such as their features, navigability, trading impact, pricing, and flexibility. Although both Tradingview and MT4 have useful functionalities and are commonly used, one has an advantage over the other regarding mobile trading. Trading forex on mobile is quite common as many traders perform analysis and execute trades via mobile devices. Let’s explore the reasons why Tradingview is better for mobile trading.
What is Mobile Trading?
Mobile forex trading refers to using proprietary or third-party trading platforms on mobile devices, using mobile applications designed for on-the-go access. You can carry a laptop or desktop with mobile trading but can more easily access the full range of features that your broker and trading platform offers using the mobile application. Mobile trading is convenient, easy, and often effective since the trading features and principles don’t change. Although some traders may prefer larger screens for analysis, anyone can perfectly analyze any currency pair or asset on a mobile device. For mobile trading to be effective, traders need optimized platforms for a great mobile experience. TradingView and MT4 are two such platforms. Let’s look at their characteristics and features.
TradingView
Tradingview is a third-party trading platform that integrates with dozens of brokers, offering traders more trading tools to improve their trading experience. The platform has over 30 million users and is increasingly popular. It also features data aggregation for crypto and stock and is available as a web, desktop, and mobile app. The mobile version has full functionalities, including advanced technical indicators, charts, and price alerts.
Features of Tradingview
- Technical tools: Tradingview offers over 100 pre-built advanced technical tools, over 100,000 community-built indicators, interactive charts, and drawing tools. These advanced tools are customizable, offering traders greater flexibility to analyze and trade. For example, technical indicators measure different attributes such as volume and momentum. Traders can customize their timeframes for a personalized analysis.
- Multi-language support, including Arabic, German, English, French, Hebrew, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, Turkish, Vietnamese, Chinese (Simplified), and Chinese (Traditional).
- Price alerts: Traders can use the price alert feature to receive visual popups, audio signals, email alerts, email-to-SMS alerts, and PUSH notifications.
- Multi-frame analysis: It offers a multi-frame analysis that allows traders to set up more than one analysis on their screed. You can set up two, four, and up to eight analysis charts per tab, even on mobile trading.
- Trading community: The trading community is open to all registered members. It is a place for social connection and sharing ideas, analysis, and sentiments. However, unregistered users have limited access; they can only view some opinions without commenting.
- Immersive mobile trading: Tradingview’s robust mobile trading app offers an immersive trading experience that helps traders optimize their trading experience.
This makes it easier to use the mobile app without a drop in trading performance.
- Candlestick pattern recognition: This helps traders quickly identify candlestick patterns, reducing the stress of analysis and improving performance. Chart pattern recognition works through preset and customizable parameters to define and identify charts.
- Tradingview-bot trigger: Traders can integrate a third-party trading bot for instant delivery and execution of trades. Traders set price alerts and use the provided WebHook URL feature to integrate a trading bot. Once the price triggers, the platform delivers the alert directly to the trading bot, which can execute the trade. The bot’s performance is independent of the Tradingview app, which only delivers price alerts.
- Live Streaming: Traders can live to stream their analysis on popular social media and video platforms.
- Fundamental analysis news and data: Tradingview, as a data aggregator, has a live market news section that covers essential news, so traders have all the features delivered.
MT4
MetaTrader 4 (MT4) is a trading platform that also offers data and trading features so that traders can integrate their favorite brokers and enter trades directly. MT4 has millions of users globally and is easily the most popular trading platform for forex and other markets. MT$ is quite similar to Tradingview, sharing certain features and tools.
Features of MT4
- Custom indicators and multi-timeframe analysis
- Fundamental news and data
- A social hub where traders interact
- Price alerts are delivered via pop-up messages and email.
- Over 50 pre-built indicators and hundreds of customizable community-built indicators
- Multiple chart screens
- Multi-language support
Verdict: Which Platform is Better For Mobile Trading?
Both Tradingview and MT4 are popular and highly useful for mobile trading forex. Both apps offer unique and similar features, which gives them certain advantages. Although every trader has a preference and will choose the app that suits their trading style, Tradingview has the advantage over MT4 for mobile trading. Thanks to its exciting and efficient trading tools, multiple chart screens on mobile, and an immersive trading environment, Tradingview gives mobile traders a unique advantage to take their trading performance to another level from their mobile devices.
Connect your trading broker to Tradingview and open your mobile trading and analysis to a better experience.