Module 6: Apps and Platforms
Key Takeaways
- TradingView is the standard for charting and analysis.
- MetaTrader 4/5 are the most common forex execution platforms.
- Binance, Bybit, MEXC and OKX are major crypto exchanges.
- Interactive Brokers, Webull and Thinkorswim serve stock traders.
- Most platforms offer free demo accounts — use them.
TradingView
Features: Best-in-class charts, hundreds of indicators, Pine Script for custom tools, alerts, and a huge community of shared ideas. Pros: Browser-based, beautiful, capable free tier. Cons: Advanced features need a paid plan; direct trade execution is limited to connected brokers. Setup: Sign up at tradingview.com, verify email, pick a market and open a chart. Interface: Chart in the centre, drawing tools on the left, watchlist and indicators on the right.
MetaTrader 4 (MT4)
Features: The classic forex platform, supports Expert Advisors (automated bots). Pros: Lightweight, stable, widely supported by brokers. Cons: Dated interface, fewer asset classes than MT5. Setup: Download from your broker, log in with broker credentials. Interface: Market Watch panel, navigator for indicators/EAs, and chart windows.
MetaTrader 5 (MT5)
Features: Successor to MT4 with more timeframes, more order types, and stocks/futures support. Pros: More powerful, economic calendar built in. Cons: EAs are not compatible with MT4. Setup & interface: Similar to MT4 via your broker.
Binance
Features: The largest crypto exchange — spot, futures, staking. Pros: Deep liquidity, low fees, many coins. Cons: Availability varies by country; complex for beginners. Setup: Register, complete KYC, enable 2FA, deposit. Interface: Markets list, order book, trade panel with buy/sell.
Bybit
Features: Popular for crypto derivatives and futures. Pros: Fast engine, good mobile app. Cons: Derivatives are risky for beginners. Setup: Register, verify, enable 2FA.
MEXC
Features: Wide range of altcoins and early listings. Pros: Many tokens, low fees. Cons: Some low-liquidity pairs. Setup: Standard register/verify/2FA.
OKX
Features: Spot, derivatives and a Web3 wallet. Pros: Strong tools and liquidity. Cons: Feature-heavy interface. Setup: Register, KYC, secure with 2FA.
Interactive Brokers
Features: Global stocks, options, futures, forex. Pros: Low costs, professional tools. Cons: Steeper learning curve. Setup: Full broker application and funding.
Webull
Features: Commission-free stocks and ETFs with solid charts. Pros: Beginner-friendly, free paper trading. Cons: Mainly US markets. Setup: Register, verify identity, fund.
Thinkorswim
Features: Powerful platform (by Charles Schwab) for stocks and options. Pros: Advanced analysis, paper trading. Cons: Can overwhelm beginners. Setup: Open an account and download the desktop app.
Use TradingView for analysis and your broker/exchange for execution. Most pros analyse in one place and execute in another.
Frequently Asked Questions
TradingView for charts plus a single broker/exchange for execution. Don’t install everything at once.
Most have free tiers or are free through brokers. Demo/paper trading is free everywhere — start there.