It doesn’t have the flying trendline problem on MT4. TradingView solves all the issues I listed earlier. Next, I’ll explain to you how TradingView solved all my problems and what are the benefits of using it… Why I love TradingView and the benefits of it Those are the biggest issue I’ve faced with MT4 and that’s why I’ve switched to TradingView. So whatever issues you face, just assume it will be there permanently and you must either accept it or move onto something else. Who’s going to pay a team of support staff to answer your queries or fix your issues?
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If you find any issues, problems, or bugs on the MT4 platform, don’t expect it to get resolved -it won’t.īecause MT4 is a free platform. There is no support for MT4Ĭlearly, there are limitations in the MT4 platform as I’ve mentioned earlier (like the flying trendline, the MACD indicator looks weird, and etc.). So, if you’re like me using multiple MT4 brokers to track many markets, then be prepared to face this issue. It gets annoying over time.Īnd you can’t blame the broker because it’s their way of “kicking” those who are not serious about funding an account and just want to use the platform for free. You’ll get a message popping up every 30 days saying “invalid account” and you need to register your particulars all over again. If you sign up for a live MT4 account, then you can use the platform indefinitely.īut if you’re on a demo then you must register the account every 30 days or you can’t access it anymore. You need to re-register your MT4 account every 30 days I would say MT4 only makes sense if you’re solely a Forex trader and nothing else.
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You’ll have to open different MT4 brokerage accounts just to access a full spectrum of markets.Īnd if you’re a stock trader, options trader, or futures trader, don’t bother with MT4 - it’s not for you.
If you’re a Trend Follower (like me) who trades across many markets, then MT4 is a severe limitation. But largely, you’re limited to the Forex markets. However, some brokers may offer CFDs so you can trade indices and some of the popular stocks. Thus, the markets offered are mainly currency pairs. This statement is biased because MT4 is created for Forex traders. You have access to a limited number of markets So you must adjust the settings, re-draw your charts, and plot your indicators again. Sure you can use a laptop, but the MT4 settings on your laptop will not be the same as the one on your computer. This means if your computer crash, there goes everything along with it - and that includes all the settings you have in MT4.Īlso, if you want to trade while you’re overseas, it will be a problem because you can’t bring your computer over, right?ĭon’t tell me you can trade on your phone, I’ll smack you. The MT4 platform must be installed on your local device. You lose all your data if your system crash Now, if your trading approach requires you to use trendlines, then the MT4 platform is not something you’ll want to trade with - especially on a live account. The next moment, when you got down to the lower timeframe, the same trendline (that you’ve drawn earlier) has shifted by itself… like some voodoo magic taking place. You’ve spent hours drawing trendlines on your charts. If you’ve used MT4 long enough, you’ll realise the trendlines on your chart are as reliable as trying to withdraw your funds from a Forex broker based in Cyprus - you never know if it’s there or not.
You need to re-register your account every 30 days.You have access to a limited number of markets.You lose all your data if your system crash.This means if you sign up with TradingView pro, I’ll earn a referral fee. Note: This post contains affiliate links. The 5 biggest reasons why I switched to TradingView from MT4.So in today’s TradingView review, you’ll learn: After all, what’s there not to like about it… it’s free, it has many indicators, and it loads fast.īut after using it for years… I realised there are issues that won’t go away and you’ll either have to suck it up or find something else (I’ll explain later). If you have known me long enough, I’ve been a huge fan of MT4 (otherwise known as Metatrader 4). It was a long and deliberate decision, but I’ve finally taken the plunge and switch to TradingView - and it’s the best trading decision I’ve made this year.