Is TradingView Legit?
TradingView is a popular platform for charting, analyzing, and trading various financial instruments, such as stocks, cryptocurrencies, commodities, and forex. With its wide array of features and a large community of traders, it has become a go-to resource for both beginners and experienced traders.
However, a question that arises among users is: “Is TradingView legit?” In this article, we will delve into the features, reliability, and reputation of TradingView to help you make an informed decision about using this platform.
Learn More About TradingView
TradingView was founded in 2011 by Stan Bokov, Denis Globa, and Constantin Ivanov, with the goal of providing a user-friendly, comprehensive, and accessible platform for financial analysis and charting. The company’s headquarters are located in Westerville, Ohio, USA.
Initially, TradingView focused on providing a powerful charting tool and social network for traders, allowing them to share ideas, insights, and strategies with each other. Over time, the platform expanded its offerings and now supports a wide range of financial instruments, including stocks, cryptocurrencies, commodities, and forex.
Today, TradingView is known for its intuitive interface, extensive range of charting tools, and a vibrant community of traders and investors. It has become a popular choice for both beginners and experienced traders, offering various features like customizable charts, technical indicators, drawing tools, and a built-in scripting language, Pine Script, for creating custom studies and strategies.
The company has also formed partnerships with major financial institutions such as Nasdaq and the London Stock Exchange, which leverage TradingView’s technology for their own charting tools. TradingView continues to grow and innovate, consistently enhancing its platform and user experience to meet the evolving needs of the trading community.
Features and Functionality
TradingView offers an extensive suite of tools for technical analysis, including customizable charts, various technical indicators, and drawing tools. Users can create their own custom watchlists, set price alerts, and even develop their own trading strategies using the platform’s built-in scripting language, Pine Script.
Additionally, TradingView supports multiple chart types, such as candlestick, bar, and line charts, as well as more advanced charts like Renko, Kagi, and Point & Figure.
One of the unique features of TradingView is its social network, where users can share trading ideas, follow other traders, and engage in discussions about market trends and strategies. The platform also offers a marketplace for premium indicators, strategies, and services, allowing traders to access advanced tools and resources to enhance their trading experience.
TradingView offers a range of pricing plans to suit different needs and budgets. Here is a breakdown of the different plans and their costs:
- Free Plan: TradingView offers a free basic plan with limited features, including access to real-time data for stocks, forex, and cryptocurrencies, up to three indicators per chart, backtesting, simulated trading, extended trading hours, and one saved chart layout. The free plan also includes access to TradingView’s social trading features which can help provide potential trade ideas.
- Pro Plan: TradingView’s Pro plan costs $14.95 per month and offers additional features, including up to 10 indicators per chart, unlimited saved chart layouts, access to real-time data for futures and indices, custom time intervals, custom scripts, and more.
- Pro+ Plan: TradingView’s Pro+ plan costs $29.95 per month and offers even more features, including up to 30 indicators per chart, access to real-time data for all markets, priority customer support, and more.
- Premium Plan: TradingView’s Premium plan costs $59.95 per month and offers the most advanced features, including up to 50 indicators per chart, access to historical data, intraday spread charts, and more.
In addition to these plans, TradingView also offers a range of add-ons and data feeds for users who need more advanced features or access to additional markets.
TradingView’s pricing plans are designed to be flexible and scalable, allowing traders and investors to choose the plan that best suits their needs and budget. The platform’s free plan and range of paid plans make it accessible to traders and investors of all levels, from beginners to advanced traders.
TradingView’s reliability is evident from its robust infrastructure and data sources. The platform relies on multiple data providers, such as BATS, NASDAQ, and NYSE, to ensure accurate and up-to-date market data. Moreover, TradingView’s cloud-based system allows users to access their charts and settings from any device, providing seamless trading experiences across desktop, tablet, and mobile app.
Security is also a top priority for TradingView. The platform uses SSL encryption to protect user data and ensure secure communication between the user’s device and TradingView’s servers. Additionally, the platform offers two-factor authentication (2FA) as an optional security measure, adding an extra layer of protection to user accounts.
While TradingView has gained significant popularity, there are several other platforms and tools that serve as its competitors. Some notable alternatives include:
Thinkorswim: Developed by TD Ameritrade, Thinkorswim is a comprehensive trading platform that supports stocks, options, futures, and forex trading. It offers advanced charting tools, a wide range of built-in technical studies, and customizable studies. In addition, Thinkorswim provides powerful scanning and screening tools, as well as a paper trading feature for practice.
eSignal: eSignal is a paid charting and trading platform that offers advanced technical analysis tools, real-time data, and a customizable interface. It supports various asset classes, including stocks, options, futures, and forex. eSignal also integrates with numerous brokers for order execution and provides a vast library of third-party add-ons.
StockCharts: StockCharts is a web-based charting platform that offers a wide range of chart types, technical indicators, and drawing tools. It also provides market commentary, analysis, and educational resources for traders and investors. While StockCharts primarily focuses on stocks, it also supports ETFs, mutual funds, and indexes.
While TradingView has many strengths, it is important to recognize some of its limitations. The platform’s primary focus is on technical analysis, which may not appeal to traders who rely on fundamental analysis or other trading styles.
Additionally, TradingView does not offer direct integration with all brokers, which may limit the platform’s appeal for traders who wish to execute trades directly from the platform. Users should also be cautious when following trading ideas and strategies shared by other users, as there is no guarantee that these ideas will be successful or suitable for their specific trading style.
Final Thoughts – Is TradingView Legit?
Based on the extensive range of features, reliable market data, robust security measures, and a solid reputation, it’s safe to say that TradingView is indeed a legitimate platform for traders and investors. It offers a comprehensive suite of tools for technical analysis and social trading, catering to a wide audience of market participants.
Ultimately, the platform’s legitimacy and deciding if TradingView is worth it, depends on your specific trading style, needs, and preferences. So, it’s crucial to evaluate whether TradingView aligns with your trading goals and requirements before making a decision.
TradingView is a reputable and reliable platform that has earned its place as a go-to resource for active traders worldwide. With its wide array of features, tools, and resources, TradingView can be a valuable asset for both beginners and experienced traders looking to enhance their market analysis and decision-making capabilities. Click here to get started today.