If you’re considering using TradingView for charting and analysis, you might be wondering if it’s a legitimate platform. With countless investment tools available in today’s market, it’s important to make sure you’re choosing a reliable and trustworthy platform that can help you make informed decisions about your investments.
You don’t want to risk your time and effort on a scam or a platform that’s not reputable. In this article, we’ll delve into TradingView’s background, features, pros and cons, security measures, and negative customer reviews to find out if it’s a legitimate platform and if it’s worth your attention. So, let’s get started and find out if TradingView is a scam or the real deal!
Learn More About TradingView
TradingView’s Background
TradingView, founded in 2011, is a web-based charting and analysis tool that offers a range of features for traders and investors alike. It has since grown into a popular platform with millions of active users and a wide variety of charting tools, technical indicators, and social functions that enable users to collaborate and learn from one another.
The platform was created by a team of experienced traders and software developers, with the founders having extensive experience in the world of trading, investment, and finance. TradingView has since grown to become a well-established player in the charts and data space, and it’s trusted by traders and investors worldwide.
TradingView’s innovative platform has evolved to include various features that cater to traders of all levels, from beginners to experienced professionals. In addition to stock, commodities, forex, and cryptocurrency charts, TradingView also offers an active community of traders and investors who share ideas, strategies, and insights with one another.
TradingView is committed to maintaining a secure and trustworthy platform, and this commitment is reflected in its membership with the Better Business Bureau (BBB), where it holds an A+ rating.
TradingView Features
TradingView offers a range of features suited to traders and investors at all levels. Here is a more detailed summary of the platform’s main features:
- Advanced Charting Tools: TradingView boasts a comprehensive selection of charting tools, including multiple chart types, drawing tools, and over 100 technical indicators. These tools can help users analyze and visualize market data effectively, allowing them to make more informed decisions.
- Customizable Layouts: Users can create and save custom chart layouts to suit their personal preferences or trading strategies. This feature allows traders to quickly access their preferred charts, indicators, and timeframes without having to set them up manually each time they log in.
- Watchlists and Alerts: Users can create watchlists to track their favorite stocks and monitor price movements, as well as set alerts for specific price or indicator levels, ensuring they never miss a trade opportunity.
- Social Interaction: TradingView incorporates a social aspect, enabling users to interact with other traders, share ideas, and learn from the community. Users can also follow other traders to stay updated on their analysis and strategies.
- Paper Trading: The platform offers a paper trading feature that allows users to practice their trading skills and strategies without risking real money. This is particularly useful for beginners or those looking to test new strategies.
- TradingView Marketplace: Users can access the TradingView Marketplace to purchase custom scripts, indicators, or strategies created by other TradingView users.
- Supported Devices: TradingView is accessible on various devices, including desktops, laptops, tablets, and mobile devices. This allows users to access their charts and analysis tools on the go or from any location.
Pros and Cons of TradingView
TradingView has some notable advantages and disadvantages worth considering when determining its legitimacy:
Pros
- Range of Features: TradingView offers a vast array of charting tools, technical indicators, and social functions, catering to traders and investors of all levels.
- Ease of Use: The platform’s intuitive interface and customizable features make it user-friendly for both beginners and experienced traders.
- Responsive Community: The platform’s active community of traders and investors allows users to collaborate, exchange ideas, and learn from one another, promoting a more informed and supportive trading environment.
- Free Plan Options: TradingView offers a free plan that enables users to access basic features and tools, making it accessible to those with limited resources.
- Accessibility: Users can access TradingView on various devices, making it convenient for them to access charts and analysis tools from any location.
Cons
- Limited Data: TradingView covers many markets, but some users may find regional data limitations, particularly for smaller or less popular exchanges.
- Paid Plans: Premium features require a paid subscription, which some users may find expensive, particularly for advanced tools.
Security and Privacy
TradingView takes security and privacy seriously, employing industry-standard measures to protect user data and financial information.
- Encryption: The platform uses SSL encryption to secure all data transmitted between your device and its servers. This level of encryption is consistent with financial institutions, ensuring the protection of sensitive user information.
- Two-Factor Authentication: Users can enable two-factor authentication to add an extra layer of security to their TradingView accounts.
- Data Privacy: TradingView’s privacy policy outlines how the platform collects, uses, and shares user data. The policy states that TradingView does not sell user data to third parties or share information with advertisers.
Negative Customer Review
With any product or service, there are bound to be negative reviews. TradingView is no exception, as demonstrated by the following customer review:
Do not use this-They pay a ton of influencers to push this garbage product. They are going downhill and don’t care that they are a tool to help us make better financial decisions but yet keep their platform slow and inaccurate without any concerns from them. Switching to a different alternative that doesn’t make me have a full-time job redoing my lines and indicators because the platform can’t save it.
While this user experienced dissatisfaction with certain aspects of TradingView, it is essential to consider that negative reviews often represent a small fraction of a platform’s user base. It is also important to note that user experiences can vary significantly based on individual factors, such as personal preferences or technical issues.
Final Thoughts – Is TradingView a Scam?
After evaluating TradingView’s background, features, pros and cons, and security measures, we can conclude that TradingView is not a scam. It’s a legitimate charting and analysis platform with a wide range of features and tools suited to traders and investors at all levels.
While there are negative customer reviews and areas in which the platform could improve, TradingView remains a popular and trusted tool among millions of traders and investors worldwide.
Click here to check out TradingView today. And if you’re still unsure if TradingView is a scam, click here to consider the alternatives.