Updated: 05/10/2024

MT4 vs TradingView

In the realm of online trading, two platforms have risen to prominence: MetaTrader 4 (MT4) and…

MT4 vs TradingView
20 Nov 2023
EDITED BY Henry Hicks
REVIEWED BY Chris Padgett

Table of Contents

In the realm of online trading, two platforms have risen to prominence: MetaTrader 4 (MT4) and TradingView. MT4 has been the stalwart of forex trading platforms since its release, offering robust technical analysis tools, Expert Advisors (EAs) for automated trading, and a high level of customizability through its scripting language, MQL4. On the other hand, TradingView is a newer contender, captivating users with its intuitive interface, advanced charting tools, and a vibrant online community where traders share insights and strategies.

Deciding between MT4 and TradingView depends greatly on your trading needs and style. If you require a platform that combines deep analysis with automated trading capabilities, MT4 might be your go-to choice. However, if you prefer an accessible platform with social networking capabilities to exchange ideas with other traders, along with clean and modern charting, TradingView could offer the collaborative edge you need. Each platform caters to different aspects of the trading experience but both strive to provide a reliable and efficient environment for their users.

Key Takeaways

  • MT4 offers advanced technical analysis and automated trading through EAs.
  • TradingView provides modern charting tools and a social network for traders.
  • The choice between platforms should be based on individual trading styles and needs.

Overview of Trading Platforms

In this section, you’ll gain an understanding of the intricacies of Forex trading and how TradingView and MT4 stand apart. Discover the implications of popularity and usage that distinguish these trading platforms.

Understanding Forex Trading

Forex trading involves the simultaneous buying of one currency while selling another, primarily for speculation, hedging, or diversification. MT4 (MetaTrader 4) and TradingView are platforms designed to cater to the needs of Forex traders with varying features that suit different trading styles and requirements.

Differences Between MT4 and TradingView


  • Primary Function: Primarily a trading platform with robust execution capabilities.
  • Charting Tools: Offers a comprehensive suite of charting tools, albeit with a less modern interface.
  • Automated Trading: Renowned for its Expert Advisors (EAs) for automated trading strategies.


  • Primary Function: Recognised for its state-of-the-art charting and social networking features.
  • User Experience: Boasts a more intuitive and user-friendly interface.
  • Community-Driven: Strong emphasis on social trading and sharing of ideas among users.

As a trader, you may find the choice between these platforms influenced by your preference for community engagement versus the need for automated trading options.

Popularity and Usage

MT4 maintains a legacy position within Forex trading circles, often favoured by experienced traders for its extensive back-testing environment and widespread broker support. TradingView, despite being newer, has seen rapid expansion attributed to its user-friendly design and social network integration, earning a substantial user base. Your decision may involve considering which platform’s community and toolsets align better with your trading approach.

Key Features and Functionalities

When considering MT4 and TradingView, you’re examining two of the most sophisticated platforms in online trading, renowned for their charting capabilities and technical analysis tools. Each platform offers distinct features designed to enhance your trading experience.

Technical Indicators and Tools


  • Offers an extensive range of technical indicators and charting tools.
  • Provides an extensive library of over 100 pre-built technical indicators and multiple chart types.
  • Allows custom indicator creation with its Pine Script language.


  • Known for its wide variety of technical indicators.
  • Gives access to 30 built-in indicators, with the option to install more via the MetaTrader Market or custom scripts.

Expert Advisors and Automation


  • Specialises in automated trading through Expert Advisors (EAs), allowing you to apply automated strategies.
  • You can create your own EAs using the MQL4 programming language or download them from the vast MetaTrader community and marketplace.


  • While not as focused on automated trading as MT4, it includes features for strategy testing with Pine Script.

Charting Capabilities


  • Recognised for its modern and user-friendly interface.
  • Provides superior charting capabilities with numerous drawing tools and multi-time frame analysis.


  • Offers robust charting options essential for detailed technical analysis.
  • Its interface may feel somewhat dated but is highly functional, offering nine timeframes and the ability to open multiple charts simultaneously.

User Experience and Interface

In evaluating MT4 versus TradingView, you’ll find distinct differences in user experience and interface that cater to various trader preferences and needs. From the design aesthetics to navigation and how you can customise each platform, these facets significantly shape your interaction with the trading tools at your disposal.

Design Aesthetics

MT4 offers a functional and no-nonsense aesthetic that may seem outdated but is familiar to many long-time traders. The interface prioritises performance over modern design, which may appeal to you if you prefer simplicity and a straightforward layout. TradingView, in contrast, boasts a more contemporary and visually appealing interface. Its appeal lies in a more modern and cleaner design that reflects current web standards and may enhance your user experience with its sleekness.

Navigation and Accessibility

Navigation on MT4 can initially seem complex, but it provides quick access to tools and features once you’re accustomed to it. The platform could feel overwhelming if you are new to trading due to its dense menus and information-packed screens. TradingView, on the other hand, is widely recognised for its user-friendly experience, courtesy of intuitive navigation and easily accessible features. It leverages a more simplistic design philosophy, which can greatly reduce your learning curve and potentially lead to a quicker mastery of the platform.

Platform Customisation

MT4’s strength lies in its extensive customisation options, especially if you’re looking to implement custom indicators and automated trading strategies. Your ability to customise MT4 is substantial, with support for a vast array of plugins and tools developed by the community:

TradingView also offers robust customisation capabilities, leaning towards visual customisation and collaborative features:

Both platforms provide customization options to tweak the trading environment to your preferences, but your selection may depend on the complexity of your trading strategies and whether community engagement or algorithmic trading takes precedence in your trading activities.

Platform Performance and Reliability

When you’re trading, the last thing you want is to be let down by your platform. The section below outlines the performance and reliability of MT4 and TradingView, particularly focusing on execution speed, stability, and their mobile and desktop trading capabilities.

Execution Speed and Stability

MetaTrader 4 (MT4)

  • Known for its fast execution speed, which is crucial for trading, especially when dealing with volatile markets.
  • Generally reliable with a well-established reputation for stability during trading hours.


  • Offers swift execution times though it primarily focuses on charting and may not match the execution speed of dedicated trading platforms.
  • Prized for its reliability, with minimal downtime reported by its user base.

Mobile and Desktop Trading


  • Robust mobile trading application available, allowing you to trade on the go with ease.
  • The desktop version is a powerhouse, known for its comprehensive features and amazing performance.


  • While it lacks an integrated trading function, its mobile app is highly rated for chart analysis and watching markets.
  • The desktop experience is centred around interactive charting and analysis, with tools for sharing and viewing other traders’ analyses.

Support and Community Resources

As you navigate the choices between MT4 and TradingView, it’s vital to consider the support and community resources each platform offers. How you can access customer service, the availability of educational content and the level of community engagement can greatly influence your trading experience.

Customer Service

On MT4, you have access to a customer service team through your chosen broker. This support is often responsive but can vary depending on the broker’s resources. With TradingView, you are served directly by their dedicated support staff, who are regularly available for troubleshooting and assistance.

Educational Content

MetaTrader 4 provides you with a plethora of educational materials, mainly due to its vast user base and longevity. Numerous tutorials and forums exist to help you understand the platform’s nuances. TradingView, meanwhile, offers you an array of learning tools within its interface and maintains a diverse set of resources to support its modern, charting-focused offering.

Community Engagement

MT4’s trading community is extensive and well-established, offering you an invaluable network of traders across the world. On the other hand, TradingView’s social community stands out for its real-time interaction capabilities, enabling you to share ideas and strategies with a global network of peers directly on the platform.

Financial Markets and Instruments

Your trading platform choice should align with the markets and instruments you’re interested in. The right platform will ensure you have access to the necessary tools and data for effective trading in these areas.

Forex and Commodities

When you engage in forex trading, you’re participating in the largest and one of the most volatile segments of the global markets. The forex market enables you to trade currency pairs 24 hours a day, reflecting the non-stop nature of global trade and economics. MetaTrader 4 (MT4) is renowned for its robust forex trading capabilities, offering a range of currency pairs and a suite of tools tailored for forex traders.

In terms of commodities, you’ll find that trading platforms can vary in their offerings. Commodities trading usually includes futures and other financial instruments that represent physical goods like gold, oil, or agricultural products. Both MT4 and TradingView provide access to commodities markets, allowing you to diversify your portfolio with these assets.

Stocks and Indices

If stock trading captures your interest, you should consider the range of stocks available through your chosen platform. Unlike forex, stock markets are bound by exchange hours and regional differences. tradingView offers extensive coverage and data on stocks from various global exchanges, which can be crucial for keeping up with the fast-paced nature of stock trading on a multi-asset trading platform.

Trading in indices allows you to take a position on an entire sector or economy rather than individual stocks. It’s a popular choice for traders who want exposure to a slice of the financial markets without having to analyse the prospects of individual companies. Both platforms typically offer a range of indices, giving you the capacity to trade on the aggregated performance of selected groups of stocks.

Cost Considerations and Account Types

When comparing MetaTrader 4 (MT4) and TradingView, you need to consider the varying costs associated with each platform, which include the potential brokerage fees and the different features that may be offered at each account level.

Brokerage Fees and Charges

MetaTrader 4:

  • Broker Affiliation: MT4 is commonly provided for free by forex brokers when you open a trading account. However, specific fees may be determined by the broker you choose, including spreads, transaction costs, and commissions.


  • Subscription Tiers: TradingView offers multiple pricing tiers, starting from a free Basic plan. For advanced features, including specific brokerage integrations, you might opt for Pro or Pro+ subscriptions.
  • Costs for Advanced Plans:
    • Pro: Offers additional features beyond the Basic tier.
    • Pro+: Provides more enhanced tools suited for avid traders.
  • Add-ons: Even though basic charting is available for free, real-time data and additional capabilities might come with additional fees.

Account Features and Limitations

MetaTrader 4:

  • Customisation and Expert Advisors (EAs): Account features on MT4 vary depending on the broker, but typically you’re provided with a high level of customisation, including the use of EAs for automated trading.
  • Indicator Limitations: MT4 has about 40 basic indicators. For custom indicators or more advanced tools, an extra purchase through the MetaQuotes market may be required.


  • Charting and Analysis Tools: The free account offers robust charting capabilities, but Pro and Pro+ subscriptions grant access to even more sophisticated tools.
  • Community and Market Data: Depending on the account tier, you can access community features and a broader range of market data which might be limited on the Basic plan.

When assessing MT4 and TradingView, it’s crucial to align the platform’s account features with your trading requirements and consider how these will impact your overall trading costs.

Software Integration and Development

When you explore the integration and development features of MT4 and TradingView, you’ll notice distinct differences, especially in terms of third-party integration capabilities and the support for algorithmic trading and development.

Third-party Integration

MT4 provides robust support for third-party integration. You have the flexibility to integrate various trading indicators and tools that can extend your trading platform’s capabilities. This is largely due to the platform’s widespread acceptance and long-standing presence in the market, which has encouraged a multitude of developers to create tools compatible with it.

Algorithmic Trading and Development

TradingView allows you to develop and test algorithms using Pine Script, which is relatively easier to learn, especially if you’re not well-versed in programming. On the other hand, MT4 uses MetaQuotes Language 4 (MQL4) for its algorithmic trading and development, enabling you to create custom indicators and Expert Advisors (EAs). MQL4 tends to be more complex and offers a deeper level of functionality for expressing trading strategies.

  • MQL4 (MetaTrader 4)
    • Ideal for developing complex trading algorithms.
    • Access to a comprehensive library of existing EAs and tools.
  • Pine Script (TradingView)
    • User-friendly for beginners in algorithmic trading.
    • More accessible for quick testing and deployment of strategies.

Frequently Asked Questions

What are the key differences in functionality between MetaTrader 4 and TradingView?

MetaTrader 4 (MT4) offers robust trading and analytical features, whereas TradingView is known for its superior charting capabilities and social networking component. MT4 allows for automated trading through Expert Advisors (EAs), while TradingView emphasises collaborative trading with a strong community aspect.

Is there a significant price difference when subscribing to MetaTrader platforms versus TradingView?

MetaTrader 4 is generally available for free through brokers, though some may offer premium services at a fee. TradingView charges a subscription for access to its advanced features, with several tiers to suit different user requirements.

What causes discrepancies between charting on MT4 and TradingView?

Charting discrepancies can occur due to differences in available data feeds, the pricing sources that the platforms use, and the types of charts and time frames they offer. This can result in variations in the way price movements are represented on each platform.

Why might traders choose MetaTrader 4 over other trading platforms?

Traders might prefer MT4 for its established reputation, customizable interface, and the ability to run EAs for automated trading. Its historical reliability and broad adoption by various brokers make it a go-to option for many experienced and novice traders alike.

Are there any platforms considered superior to TradingView by professional traders?

Some professional traders might prefer platforms like cTrader or NinjaTrader for their unique functionalities and specific toolsets. However, the choice is subjective and depends on individual trading strategies, preferences, and the instruments traded.

Can MetaTrader 4 be integrated with TradingView for enhanced trading?

While MT4 and TradingView are separate platforms, some tools and services offer the capability to connect MetaTrader accounts with TradingView for enhanced charting while executing trades on MT4, depending on broker support and third-party solutions.

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Chad Smith

Chad Smith is the Director of Research & Analysis here at ForexBrokerListing.com. Chad previously served as an Editor for a number of websites related to finance and trading, where he authored a significant number of published articles about trading and the impact of technology in transforming investing as we know it. Overall, Chad is an active fintech and crypto industry researcher with more than 15 years of trading experience, and you can find him teaching his dog how to trade in his free time.

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