Is MetaTrader still better than TradingView for active trading?
Verdict
- MetaTrader is still the better choice if your active trading relies on expert advisors or MT4/MT5 add-ons; TradingView is better if it relies on charting. Pepperstone, our pick in Australia, offers both on one Razor account.
- On Pepperstone's Razor account the commission is the same total on MT5 and TradingView: $3.50 per side, $7 per round turn per standard lot (MT5 in AUD: AUD 3.50 per side).
- In Australia, TradingView and MT4 are Razor-only at Pepperstone; MT5 and cTrader work on both Standard and Razor.
- If cost per trade is the deciding factor, cTrader is cheaper than either at Pepperstone: USD 6 per round turn on FX.
For active traders the honest answer is that it depends on what you do all day. MetaTrader remains the standard for automation and its plug-in ecosystem; TradingView is the stronger charting environment. At Pepperstone you don't have to choose an account around it: Razor runs both, plus cTrader.
Pepperstone lets you run both on one account
Pepperstone Group Limited (ASIC, AFSL 414530) offers MT4, MT5, TradingView, cTrader and its own platform on the Razor account. Razor pricing averages 0.1 pips on EUR/USD plus commission, so the platform choice changes how you work rather than what the market costs you. Pepperstone states execution from 50 milliseconds with a 99.32% fill rate and no dealer intervention (trades from 1 January to 31 March 2026). Minimum deposit: $10.
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Where each one is stronger
| MetaTrader 4 / 5 | TradingView | |
|---|---|---|
| Automation | Expert advisors on MT4 and MT5; free VPS for eligible or Pro clients | No EA equivalent listed by Pepperstone |
| Add-ons | Smart Trader Tools: Trade Terminal, Mini Terminal, Correlation Matrix, Smart Lines and more | TradingView's own indicators and scripts |
| Account availability | MT5 on Standard and Razor; MT4 on Razor only | Razor only |
| Razor FX commission | MT4: USD 7 (AUD 7) per lot charged at opening; MT5: USD/AUD 3.50 per side | USD 3.50 per side, USD 7 round turn |
Who should stay on MetaTrader
- You run EAs or scripts that open and close trades without you.
- You use one-click tools such as Pepperstone's Mini Terminal for fast order entry and partial closes.
- You want to trade from the Standard account, where TradingView isn't offered in Australia.
Who should move to TradingView
- Your decisions start on the chart and you already pay for, or use, TradingView layouts and alerts.
- You trade manually and don't need EAs.
- You want the same charts on desktop and phone without exporting templates.
A third option for active traders: cTrader
On Pepperstone's Razor account, cTrader charges USD 3.00 per side on FX, USD 6 per round turn, a dollar less than MT5 or TradingView per standard lot. It has its own automation (cTrader Automate, using C# cBots) and is offered on both Australian accounts. For someone trading 20 lots a day, that dollar is $20 a day.
Sources
Can I use TradingView on a Pepperstone Standard account in Australia?
No. TradingView and MT4 are Razor-only in Australia; Standard offers MT5, cTrader and Pepperstone's own platform.
Is MT5 better than MT4 for active trading?
At Pepperstone the total Razor commission is the same; MT5 is the only MetaTrader version available on both Australian accounts.
Can I run expert advisors on TradingView?
Pepperstone lists EAs and algorithmic trading for MT4 and MT5, and cBots for cTrader, not for TradingView.
Platform choice does not reduce trading risk. CFDs are leveraged and can lose money quickly. This comparison is general information, not advice; read the PDS and TMD before trading.