All retail financial market traders must trade via brokers, who provide access to the global financial markets. Hundreds of brokers offer various trading conditions and services, but only a tiny percentage are popular among traders for their excellent trading experience. TradingView is one of the popular trading platforms today.
With millions of users, TradingView is arguably the biggest third-party trading platform in the trading community today. There are several reasons for this, but the best defence is that this platform has revolutionised trading through its innovative features, modern technologies, and advanced trading tools that offer an excellent user-friendly interface.
This article explores the evolution of TradingView and how it is transforming financial trading.
Evolution of TradingView
Early beginnings and development of TradingView
TradingView is the creation of two developers, Arturas Sasnauskas and Stan Tkachenko. They built the platform in 2007 in Estonia, aiming to create a powerful trading platform with user-friendly charts and tools to improve trading. The early versions of TradingView were basic, but they quickly gained traders’ attention globally. By 2011, tradingview launched its beta program and gave a free version. The platform’s users swelled to over 1 million in two years.
The company raised $3 million in funding in 2014 and began developing advanced features, forming the TradingView mobile app in 2015. TradingView has added advanced features and tools in the last decade to meet user demands and take a top spot among trading platforms.
Key features and tools
These features and tools set TradingView apart from traditional trading platforms:
- Multi-Language support in over 30 languages.
- Advanced charting capabilities for technical analysis.
- Customisable indicators and drawing tools.
- Social networking and collaboration features in a trading ecosystem.
- Integration with popular trading brokers and exchanges for a seamless trading experience.
Transformative impact on trading practices
TradingView’s excellent tools and features transformed the way traders explore financial markets. Some of the significant impacts of trading are:
Accessibility and democratisation of trading
Older trading platforms were limited in the number of traders they could support, and their reach was typically local or regional. TradingView changed that by empowering more individual traders with access to professional-grade trading tools and data for analysis. The platform has removed the entry barriers for retail traders, making it easier for them to trade various markets on their favourite brokers.
TradingView has over 50 million users, making it the largest trading platform in the industry today.
Enhanced technical analysis and decision-making
TradingView users can access some of the most advanced and sophisticated technical tools for analysis and decision-making. The basic free version allows up to four charts, while premium users can add as many charts as they want, depending on their premium package. TradingView has advanced charting capabilities for in-depth analysis, customisable indicators and drawing tools for personalised strategies. It also incorporates data aggregation from various sources, like the BBC, to provide real-time data and alerts for timely decision-making.
Social networking and collaboration for knowledge sharing
Social trading is a feature that allows traders to interact, exchange ideas, and trade with others on the platform. TradingView uses a community-driven approach to trading education, allowing traders to educate each other. Traders can share and learn from the trading ideas and strategies of others and build networks to improve their trading performance.
TradingViews social hub provides advanced chat features that allow traders to share images and live charts links for traders outside the platform to view and learn.
Broker integration, trading automation, and strategic support
One of the most attractive features of TradingView is the integration of over 40 brokers into one platform. This allows traders to execute trades on their brokers directly from TradingView. This saves time and enhances seamless trading.
A feature also allows traders to automate trades by building their trading strategy using indicators and API. The tools and features that trading platforms provide are essential to the success of traders who typically use different strategies and styles. For example, trading tools that enhance analysis on lower time frames are more effective for scalp trading. TradingView offers excellent tools that help traders on:
- Day trading and scalping
- Swing trading and trend following
- Cryptocurrency trading and analysis
Challenges and limitations of TradingView
Although TradingView offers traders an excellent trading experience, there are several challenges that traders and developers face. Some of these are:
- Data accuracy and reliability. TradingView sources its data from various sources; there have been reports of delays, inaccuracies, and data that is not real-time. This could be a problem for traders who need quick trades.
- Advanced technical analysis tools may overwhelm beginner traders. New traders may need to familiarise themselves with the various tools and advanced features of TradingView.
- Overcrowded trading ideas. TradingView’s social hub may be overcrowded, leading to many traders entering the same positions and making it difficult to profit. This may also cause trading bias from false or even accurate information.
Other challenges include:
- Limited features on the free version.
- A disparity in the features available on the mobile and desktop versions.
- Slow network connection during peak periods.
Although these challenges exist, TradingView still delivers excellent services and products to help traders become successful.
TradingView is an advanced trading platform with a broad reach among traders today. The platform has improved access to global financial markets and made it easier for traders to analyse and trade. The wide range of advanced tools, high-quality educational resources, and social trading hub makes it easier for traders to collaborate and share ideas. TradingView has also helped to improve transparency in the trading industry and support traders to enhance their trading performance.
The excellent customer support and multilingual platform cap the benefits that traders enjoy on TradingView. If you are interested in trading, you can register with your favourite broker and use the TradingView gateway to analyse the market and execute trades instantly.