Trading platforms are very necessary when it comes to your performance in CFD or any financial trading market. This software that are developed by its creators are very useful towards the realization of your trading plans as well as the achievement of your target profit. Due to its crucial role in the market, several trading platforms compete with each other and claim that their features are the most efficient and user friendly so as to get as many users as they can. When we search on the internet, we would come across two competing platforms such as MT 4 and TradingView.
The Trading View
For someone who is a fan of social media sites, the trading view is something which will catch the interest of a particular trader. As a social media trading platform, its users can take advantage of establishing a network of traders who can help them through forums and conversations. Just like any other trading application, trading view is also designed to provide additional help to traders by means of charts, research and analysis of market data. Another good point for this application is the fact that some of its services are free and it can also be downloaded for free. Moreover this could also be a great place for traders especially the newbies to socialize and learn from the experts.
Since this is a social media trading platform, trading view also has a drawback and this concerns your subscription or transactions with the people that you socialize with in the application. Expect that some traders may seem so nice to you but at the end of the day, they will charge you expensively for their pieces of advice. Aside from that, trading View is still in the process of getting the majority of people as their subscribers, thus, there are only a few legit brokers that are affiliated with this app.
The Metatrader 4
MT 4 as most people call it, is a trading platform that is also downloaded for free. This platform is believed to be more famous than the TradingView platform because it has established itself towards several online brokers that are affiliated with its use. Based on the review of users, the Metatrader 4 is very different from other applications because of its ability to be used in several gadgets. What they are trying to say is that they can find compatible versions of this platform when installed in gadgets with windows, android and iOs software. It has a user interface which users find easy to use and understand. In terms of its drawbacks, the platform needs to have an open server within 24 hours so it requires hardware that is able to withstand such functions so as to avoid freezing.
The real differences between these two platforms are evident in their nature and features. Though both have their respective advantages and disadvantages, there is no need to decide which one is better because both platforms can be utilized in CFD and forex trading.