Tradeview Review 2023
The forex industry is a large and expansive one with an impressive history. This history includes many large firms that have developed over the years and become important and respected members of the industry. One such firm is TradeView, an international broker with that hold multiple regulatory licences.
TradeView first started operating in 2004, and it’s become one of the largest brokers in the modern world. TradeView has a decent mix of different account types, educational resources, and the broker is generally competitive in terms of its fees and commissions.
Regulation and Security
Tradeview Forex is headquartered in the Cayman Islands, and it’s operated by Tradeview Ltd, which is a fully regulated dealer that’s regulated by the Cayman Island Monetary Authority (CIMA) licence n.o 585163. The Cayman Islands are officially ranked as the fifth most compliant by the Financial Action Task Force (FATF), so it has strong regulations that ensure financial oversight and transparency. Tradeview also have both EU and Asian entities, supporting them in being a large international broker. Due to this, they also hold regulatory licences in Malta under the Malta Financial Services Authority (MFSA) registration code C93990 and in Asia under the Labuan Financial Services Authority (FSA) under TVM Global limited which can be found here.
Tradeview also adheres to a strict firm reported schedule and regularly submits financial reports that are compiled by an independent auditor to ensure compliance with the regulation. For additional security, Tradeview Forex also only works with Tier-1 banks like GCEN. Tier-1 is an official financial ranking that classifies a bank as extremely financially healthy and safe.
Negative Balance Protection
Tradeview Forex offers negative balance protection, which is an industry practice that ensures your account balance never goes below zero. The benefit of negative balance protection is that it prevents traders from going into debt from adverse and rare market conditions.
Tradeview Forex provides negative balance protection through an automated risk management system that guarantees account balances will never be negative.
Fund segregation is a financial feature where funding from clients is stored in a separate bank account from the broker’s operational funds. The benefit of fund segregation is that traders’ income isn’t potentially used by the broker for its own operational expenses.
TradeView provides fund segregation via tier 1 banks. Tier 1 banks are the most highly rated for their financial health and strength. These banks have both large capital reserves and the ability to withstand unexpected losses.
Is Trade View available worldwide?
TradeView is a global trader that’s available in 194 countries globally. Some of its international markets include the UK, Germany, Australia, China. The broker is not available to US residents and countries on the OFAC Sanctioned List.
Tradeview Forex is currently available on the following four platforms:
Currenex is an advanced professional trading platform that provides complex trading tools and is mostly used by hedge funds and international financial clients. Tradeview is only available on Currenex using the Windows operating system, unfortunately Mac users are bombed out on this platform. Currenex hosts over 30 advanced chart and analytical tools. You can also only use it for trading currency pairs.
cTrader is another advanced trading platform that was developed by Spotware Systems Ltd, a software company founded in Cyprus. cTrader provides full customization and multiple trading tools including automated trading and charting.
cTrader is available across desktop, web, and mobile devices.
MetaTrader 4 (MT4) is the industry’s most popular trading platform, and it’s used by millions of traders internationally. It has an excellent suite of trading resources and tools, especially its financial analysis tools including it’s profit and loss reporting system. MT4 is considered an industry best because it’s one of the most reliable trading platforms and features nearly all the world’s major brokers, including TradeView Forex.
MetaTrader 5 (MT5) is the more advanced version of MT4, and includes many of the same features as its predecessors plus some expanded abilities. MT5 is more complex than MT4, and it offers new analytical tools and a more optimized user interface.
Tradeview is available on both the desktop and mobile versions of MT5.
Overall, Tradeview is available on an impressive group of trading platforms, and it supports both mobile and desktop trading. The best part is that TradeView is available on both MT4 and MT5, providing you access to the best analytical tools and resources.
TradeView has three major account types: Individual, Joint, and Corporate
The Individual and Joint accounts are both standard margin accounts. The difference is that Individual accounts have one owner while Joint accounts have multiple owners. Corporate accounts are specialized investing accounts authorized to trade by a legal entity.
This broker also offers X Leverage Accounts and Innovative Liquidity Connectors. X Leverage accounts are a type of retail account for retail investors. This account provides low entry thresholds starting with a minimum deposit of $100, and a small commission spread starting from 0.1 pips with a minimum trade size of 0.01 lot.
The Innovative Liquidity Connector is a trading account that uses no-dealing desk (NDD) technology to provide direct traders with direct access to liquidity providers. This account charges a flat fee for opening trades and has a minimum deposit requirement of $1000. The broker also has swap-free/Islamic accounts available.
TradeView also offers demo accounts for new traders to learn how to trade before investing money into forex. The demo account is designed more for new traders to TradeView rather than new traders in general. So, the demo accounts probably won’t help you if you’ve never traded before.
You can sign-up on Tradeview Forex by going to its website and clicking on ‘Live account’. Next, select the type of account you want (individual, joint, or corporate), and you’ll receive the relevant form.
Fill each form with the relevant information, like your name, address, and banking details. You also have to declare your employment information, total assets, source of wealth, and trading experience. Next, you’ll submit the form and wait for it to be reviewed. You can start trading once your account is approved.
Overall, Tradeview has a simple and straightforward sign-up process, but it can be annoying to wait for them to approve your account. Tradeview doesn’t ask for more personal details than other brokers, so it’s industry-average in terms of its sign-up process.
Deposit and withdrawals
You need to deposit at least $100 to open an account with Tradeview Forex. You can make your deposit using different payment methods like bank cards, Union Pay, Uphold, Bank Wire, FasaPay, and Neteller. You can also withdraw your money using most of these same payment methods. But, you’re usually required to use the same payment method for withdrawing the money that you used to deposit it.
Tradeview accepts a surprisingly large number of different payment methods, including many less-popular online payment processing companies. So, it’s a great broker if you want to use less popular payment methods too.
Commissions and fees
TradeView has a variable trading cost that depends on your account type, commission, spread, and margins. Tradeview Forex generally charges average to low spreads and commissions, so it’s relatively competitive in the forex market. Being an ECN broker, it also provides competitive variable spreads.
It has spreads and commissions only across two of its forex accounts: the innovative liquidity Connector (ILC) and X Leverage Account. It charges a $5 round-turn commission per traded lot on the ILC account and X Leverage account holders don’t receive charges. TradeView’s typical spread on major pairs is 0.6 pips for GBPUSD and 0.2 pips for EURUSD.
Leverage allows traders to get greater exposure to the market than the amount of money it’s deposited. Leverage increases a trader’s potential profit and loss.
Tradeview Forex offers a maximum leverage of 1:400 with the X Leverage Account. Although with the ILC account traders will come across a maximum leverage of 1:100.
Analysis and Education
Tradeview Forex provides generally few educational and analytical resources. Most notably, it provides access to the “Rhino Report”, an online publication that provides financial and economic news and analyses. The education section of its website also provides other financial resources, including guidance on fundamental Forex indicators.
Yet overall, Tradeview Forex has a generally small number of financial resources, and the company does not appear to prioritize providing financial education. Many other highly rated brokers provide much greater and more extensive and detailed financial resources and information. So, Tradeview Forex is probably not a great broker for you if you value detailed financial knowledge and information.
Tradeview Forex provides a live chat feature on the website along with a dedicated support email and a contact form. So it doesn’t have a dedicated support helpline, which is very disappointing because most major brokers provide one.
You can also communicate with Tradeview Forex by tweeting at them on Twitter, but you’re not guaranteed a response. Overall, Tradeview Forex is generally lacking when compared with most other major trading platforms which have far better dedicated support resources.
Tradeview Forex is definitely not a good choice for traders who want to easily communicate with their broker over the phone.
Reputation amongst Traders
Tradeview Forex has a generally positive reputation. It has a TrustPilot rating of 4.1 out of 5 stars on TrustPilot and 4 out of 5 stars on ForexPeaceArmy based on the experiences of hundreds of traders, overall it’s a relatively good broker for most traders.
Can beginners trade with Trade View?
No, TradeView is not a beginner-friendly broker since it provides limited training resources and it doesn’t offer beginner-friendly analysis tools. Its demo account is useful for new traders, but it appears designed for people with previous trading experience.
TradeView is a veteran broker in the forex industry. It’s also one of the industry’s most international brokers, which it’s achieved through being well-regulated. It’s available on a healthy mix of platforms, but it doesn’t offer good educational tools or training content.
TradeView also charges fees on withdrawals, although it’s competitive. This broker’s greatest advantage is probably its massive user base and global trading community, which is likely due to the brokers reach across a wide range of international markets including Europe and Asia amongst others. Another area they succeed in is the number of trading platforms they have on offer. But, it’s not a beginner-friendly broker, so it’s a good choice for you only if you’re already an experienced trader.