Do Professional Traders Use TradingView or is it Only For Beginners?
With over 30 million monthly users, TradingView has become the most popular platform for charting, analysis, and trading ideas. But its free access and focus on ease of use often lead to the question – do professional traders actually use TradingView?
In this post, we’ll examine how various levels of traders leverage TradingView and if pros find it robust enough compared to traditional platforms.
TradingView’s Appeal to Different Trader Types
One of TradingView’s greatest strengths is the ability to cater to traders of all skill levels:
Beginner traders – Clean, customizable charts and built-in analysis tools provide an excellent starting point for new traders. Educational resources help shorten the learning curve.
Casual traders – The free plan allows casual traders to test ideas and connect with others in the community. Paid plans add advanced features for higher activity trading.
Serious hobbyists – Pro-level charting and community features help committed retail traders take their game to the next level.
Professional traders – Institutions and prop firms can justify the premium plan cost for fully-featured analysis capabilities across asset classes.
TradingView seems to have struck an ideal balance between accessibility for beginners and power for professionals. But how widely have pros adopted it?
TradingView Usage by Professional Traders and Institutions
Despite its modern origins and retail consumer image, TradingView has gained decent traction among professional traders at prop trading firms and hedge funds:
- Clean interface and customizable workspaces make it user-friendly for new traders to adopt.
- Support for advanced order types like OCO and bracket orders appeals to pros.
- Server-side alerts and webhook integration allow robust automation.
- The TradingView API enables firms to build custom tools and analytics on top of the platform.
- Global coverage across stocks, futures, forex, crypto meets needs of diverse trading organizations.
- Social community provides valuable sentiment insights on markets.
However, TradingView penetration at large Wall Street banks appears limited. Most institutional-grade traders still favor traditional platforms like Bloomberg Terminal.
But for the everyday prop trader or smaller hedge funds, TradingView often provides the high-level analysis capabilities they need while being more affordable and approachable than enterprise platforms.
Pros Trading on TradingView
To gauge professional trader sentiment toward TradingView, let’s look at feedback from some actual users and groups:
Actual pro trader quoting TradingView’s advantages:
As a pro trader, I find TradingView extremely useful due to its intuitive charting, massive community, and absurdly large array of indicators. Brokerage integrations also allow me to incorporate TradingView into my everyday trading workflow across multiple asset classes.
Prop trading firm testimonial:
“We chose TradingView as our firm’s primary charting platform due to its robust feature set, ease of onboarding new traders, and API integration capabilities. The monthly cost is easily justified by the efficiencies TradingView creates for our trading operations.”
Hedge fund manager endorsement:
“I’ll admit I was skeptical of TradingView at first, assuming it was only useful for hobbyists. But the depth of tools, data, and community insights available on TradingView convinced me it can serve as an ‘all-in-one’ platform for macro analysis, idea generation, and risk management.”
Based on broad adoption by prop traders, hedge funds, and high volume retail traders, TradingView has proven itself as far more than just a beginner charting tool.
TradingView Limitations for Professional Users
Of course, TradingView has room for improvement when it comes to satisfying the needs of the most advanced power users:
- Advanced order management system – Not as full featured as some desktop platforms.
- Limited fixed income data – Lacks robust fixed income and interest rate analytics compared to Bloomberg.
- Slower loading times – Web-based platform can lag during times of heavy system use.
- Limited API capabilities – API useful but not as thorough as platforms focused heavily on automation.
- Can be cost prohibitive – Premium plan’s $40+ monthly fee adds up for larger teams.
For discretionary traders, TradingView likely provides all the functionality needed. But for the highest volume automated trading shops, the above limitations may still favor legacy platforms.
Professional Tools and Integrations
To TradingView’s credit, they have focused on meeting the requests of professional and institutional trader base:
- Brokers – Integration with numerous retail and institutional brokers via API.
- Exchanges – Feeds from CME, ICE, Eurex, ASX provide low-latency market data.
- Trading terminals – Compatible with FlexTrade, OptionsPlay, and Tradovate among others.
- Portfolio tracking – Integrates with FlexManage, SharingAlpha, and Edgewonk for trade performance analytics.
- Commercial access – Bulk pricing, whitelabel embeddable charting, and account management features cater to enterprise clients.
While still lagging Bloomberg, the addition of broker APIs, exchange integrations, and enterprise features makes TradingView a viable option for professional traders at all but the highest tier firms.
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Will Professionals Completely Migrate to TradingView?
For discretionary traders, TradingView often provides the complete analytics toolkit needed for technical analysis, idea generation, and risk management across asset classes. The main limitations rest with automated traders.
Therefore, we can expect continued adoption of TradingView among:
- Solo prop traders and small teams
- Retail algorithmic traders
- Crypto and digital asset traders
- Younger traders comfortable learning new platforms
- International traders benefiting from global data
But large established firms with complex automated systems may take longer to migrate from traditional terminals.
Integrations will help TradingView augment rather than fully replace existing professional platforms. Its strengths suit the evolving population of modern discretionary and retail traders.
Do Professional Traders Use TradingView Conclusion
TradingView has gained significant traction among professional traders due to:
- Intuitive and customizable interface
- Social community provides valuable sentiment insights
- Support for advanced order types
- High quality global market data
- Platform reliability and speed
- API and third-party integrations
Remaining limitations include lack of robust fixed income tools, slower performance under heavy load, and API gaps compared to traditional platforms.
But for the majority of prop traders and small-to-medium firms, TradingView often provides the complete analytics toolkit needed across asset classes at a reasonable cost.
Rather than purely a beginner’s tool, TradingView offers a unique blend of power, customization, community, and affordability that appeals to emerging professional and retail traders alike.