Does people who is trading at wall street use MetaTrader?

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masarobo
15
masarobo  

Does people who is trading at wall street use MetaTrader or TradingView or others?

pls tell me.

William Roeder
21958
William Roeder  
Go and ask one of them; I doubt anyone here is a floor trader.
Husain Dana
587
Husain Dana  
William Roeder:
Go and ask one of them; I doubt anyone here is a floor trader.
They use NONE.... They have their own systems.... MT4 and TradingView are designed for retail trader like us.
Yossarian Escobedo
19132
Yossarian Escobedo  
masarobo:

Does people who is trading at wall street use MetaTrader or TradingView or others?

pls tell me.

No Sir. No one on "Wall Street" or at ANY institution will use Metatrader or TradingView 

at their offices. As (almost) all of those operations use their own proprietary platforms. 



Especially not Metatrader. As Metatrader is an extremely crude and limited platform. 

And the only reason why Metatrader remains so popular in the retail world is because 

this is the platform that (almost) all brokers prefer to offer their clients. 



WHY DO BROKERS LIKE METATRADER SO MUCH?


It is much cheaper for the brokers to license the use of Metatrader, than for them to 

create their own proprietary platforms. And by licensing Metatrader, they (the brokers) 

do not have to handle nearly as much of the support or technical issues, as compared 

to creating (and maintaining) their own proprietary platforms.  


In addition to this, Metatrader already has an enormous amount of indicators/EA's 

that have already been created. Allowing the brokers' clients (retail traders) 

to start trading (and over-trading) immediately.



BOTTOM LINE: 


Brokers are in business to take your commission. Nothing more and nothing less.  

And the easiest/fastest/cheapest way for them to take your commission, is to 

give you 'free' access to Metatrader. 


This is the (primary) reason why brokers offer (and will continue to offer) 

Metatrader for years to come. And therefore, it is the (primary) reason why 

Metatrader is so popular in the retail world. 



I hope you find this helpful and best of luck with your trading going forward.  =)

Afsal Meerankutty
20614
Afsal Meerankutty  

Answered well and in detail . Appreciate Yossarian Escobedo  for the time and effort.

Nelson Wanyama
809
Nelson Wanyama  
Yossarian Escobedo:

No Sir. No one on "Wall Street" or at ANY institution will use Metatrader or TradingView 

at their offices. As (almost) all of those operations use their own proprietary platforms. 



Especially not Metatrader. As Metatrader is an extremely crude and limited platform. 

And the only reason why Metatrader remains so popular in the retail world is because 

this is the platform that (almost) all brokers prefer to offer their clients. 



WHY DO BROKERS LIKE METATRADER SO MUCH?


It is much cheaper for the brokers to license the use of Metatrader, than for them to 

create their own proprietary platforms. And by licensing Metatrader, they (the brokers) 

do not have to handle nearly as much of the support or technical issues, as compared 

to creating (and maintaining) their own proprietary platforms.  


In addition to this, Metatrader already has an enormous amount of indicators/EA's 

that have already been created. Allowing the brokers' clients (retail traders) 

to start trading (and over-trading) immediately.



BOTTOM LINE: 


Brokers are in business to take your commission. Nothing more and nothing less.  

And the easiest/fastest/cheapest way for them to take your commission, is to 

give you 'free' access to Metatrader. 


This is the (primary) reason why brokers offer (and will continue to offer) 

Metatrader for years to come. And therefore, it is the (primary) reason why 

Metatrader is so popular in the retail world. 



I hope you find this helpful and best of luck with your trading going forward.  =)

Good answer.

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