Forex Brokers with TradingView
Richard Montana | November 16, 2022
TradingView is a very popular charting platform among forex traders of all experience levels. The majority of traders and investors sign up for trading in TradingView because of its sophisticated charting and advanced capabilities. TradingView brokers let you connect your trading account with TradingView so that you can take advantage of the excellent charting solutions that it provides.
What is TradingView?
TradingView is a powerful charting software that is packed with technical analysis tools for conducting in depth chart analysis on all of your favourite currency pairs and other financial instruments. It is reliable, comprehensive, and has most of what you need day-to-day when trading.
TradingView don’t make money from your trading as they charge a subscription fee for some features and show ads. This is advantageous as it means there will be no conflict of interest with your trading.
One of the biggest advantages that TradingView has over trading platforms is its community. Users with lots of experience can share handy guides for analysing charts and creating trading strategies. This vast and friendly trading community can greatly improve the skills of novice traders.
Having a large trading community not only produces ample opportunities to learn more about trading online, but it can also encourage you to remain focused and therefore become a better forex trader in the long run.
TradingView also allows people to make posts about their trades, comment on other posts, and generally take part in the discussion within the community. The most important part is that it is mostly free.
This is an area in which the TradingView platform really excels. You can open multiple charts to perform top-down technical analysis. It is simple to trade as you just drag and drop trade entry and exit locations. Traders can access hundreds of chart types and indicators. Find community-built custom indicators, or build your own indicators using the powerful Pine Script language.
You can automatically detect and draw candlestick patterns or Fibonacci retracements, overlay and compare other instruments, use volume profiles, or create indicators on indicators. Use a vast array of drawing tools to measure Fibonacci retracements and patterns, Elliott waves or simply measure price ranges.
You never need to miss a trading opportunity by creating watchlists to monitor your favourite markets. The platform enables you to set customised signal alerts for any kind of market situation on price moves, or even on technical indicators, strategies or drawings. There is a handy integrated economic calendar to stay on top of market-moving data releases.
You can view indicator summaries, aggregating signals from dozens of indicators to provide a simple buy or sell signal strength. I like how you can screen trading instruments and define your own custom filters according to your own trading style. You can backtest trading strategies to see historical results, copy trading strategies or write your own strategies and visualise them on your charts.
Registration is quick and easy with TradingView. Whilst the platform is free to use, if you need to access more options, indicators and tools, the platform charges a monthly subscription fee. The only thing that a paid version does is add more features and functionality which may not be needed for the average retail trader.
Another good advantage of TradingView is that it does not need to be associated with a forex broker. It’s an independent platform that can display charts for any type of asset including currency pairs, stocks, commodities, bonds, indices and cryptos.
Can I trade directly from TradingView?
You do not actually trade directly in the TradingView platform. What you need to do is open a trading account with a TradingView forex broker. They are currently connected with some of the best forex brokers which we will look at shortly. However, you could technically use any forex broker with TradingView.
Traders can simply use any other forex platform such as MetaTrader and TradingView together. They could simply do their charting work on TradingView and then place trades on the other platform. In fact, it is one of the most common ways that TradingView users trade nowadays.
Is TradingView a good forex platform?
TradingView is an excellent charting platform for both novice and experienced traders alike. It’s extremely simple to use for those getting started in technical analysis with an ever-growing community of likeminded traders. It includes all of the technical indicators and other trading tools that most retail forex traders need to conduct comprehensive market analysis.
Is TradingView safe?
Yes, TradingView is safe because it isn’t a trading platform through which you can place trades unless using a free forex demo account. You don’t need to send any funds to the platform as you will be using a third-party forex broker that supports TradingView.
TradingView vs MetaTrader
When comparing MetaTrader vs TradingView, it’s important to note that MetaTrader is a trading platform, whereas TradingView is primarily a charting software that can be integrated with a selection of forex brokers.
While both of these forex platforms offer a good choice of indicators and features, TradingView is superior in terms of the number of indicators it has and functionality that it provides. It has a greater selection of default trading tools and customisation options. You can find thousands of add-ons for both platforms with MetaTrader being better for automated forex trading.
With the TradingView app, traders can fund and withdraw money from their brokerage accounts. This is not something you can do with MetaTrader as you would need to login on the brokers side. I don’t think this is a deal breaker and I still use MetaTrader because it is the platform that I am most accustomed to.
Having used the MetaTrader 4 platform for over a decade, I have never felt the need to switch over to anything else. It has all of the manual trading and automated capabilities that I need. Because I have developed and use so many MT4 tools, it would be a hassle to switch over now.
Not to mention, you will find that the majority of forex brokers have either the MetaTrader 4 or MetaTrader 5 platform, some have both. This means you have a greater choice should you decide to switch brokers down the line and you would not need to learn how to use a new trading platform from scratch.
Other differences for MetaTrader and TradingView include things such as accessibility. MetaTrader usually requires a person to register with either a broker or the software company that created the platform, while TradingView is freely available online, but it does have a paid version that unlocks new features.
Best forex brokers with TradingView
TradingView is currently implemented with a handful of forex brokers compared to MetaTrader which you access via most brokers. You can also use the TradingView paper trading simulator where trades are emulated on their servers and no broker account is needed for this. If you are ready to start trading forex online and want to use this excellent charting platform, please see a selection of our best forex brokers with TradingView in the table below.
Advantages of TradingView brokers
- Excellent charting tools
- Large community of traders
- Advanced and modern interface
- Build unique trading strategies
- Develop customised trading tools
Disadvantages of TradingView brokers
- Not many TradingView brokers to choose from
- Cannot execute real trades on the platform
- Need to pay a subscription fee for some features
Conclusion: should I use a TradingView forex broker?
If you are looking to take your forex charting possibilities to the next level, then you will certainly want to consider a TradingView forex broker. However, I do not think that there is anything other than the large community that sets it apart from other forex trading platforms such as cTrader. To be honest, MetaTrader has been around for much longer and has millions of users worldwide who have developed and shared countless trading tools for the platform.
Whilst I can understand the benefits of using a forex broker that integrates directly with TradingView, this really limits your choice. Granted, you could always use TradingView just for charting purposes and then execute your trades on another platform with any broker. However, this creates an extra step which can cause an unnecessary delay which may impact scalping strategies that rely on quick actions.
No doubt about it, TradingView is an excellent platform that is leading the way and settings a new standard for charting software. It is modern and sleek, with beautiful looking charts. I would just like to see them become supported by more brokers before I would consider switching over.
Forex Brokers with Neteller
Forex brokers offer a wide variety of account funding options to make their services more…
Forex Brokers with Skrill
Skrill is popular with forex traders around the world, as you can quickly move money…
Forex Brokers with PayPal
If you are looking for a PayPal forex broker it is probably because of the…
Brokers for News Trading
Trading on news releases can vastly improve trading strategies. News trading is beneficial to traders…
Forex Brokers in Europe
Trading forex is popular among traders in Europe, which is one of the most active…
Brokers for Trading the Dow Jones
The Dow Jones Industrial Average (DIJA) represents the companies that are based only in the…