TradingView is among the most popular and feature-rich charting platforms for traders. Given London’s status as a premier financial and social hub, TradingView serves this demographic well.
Users are spoilt for choice with the depth of market analytics available on TradingView. Find out the many ways the trading platform is highly beneficial for London businesses.
How TradingView Empowers London Businesses?
What Is TradingView?
TradingView is an advanced trading platform and social network for traders across the financial markets, namely forex, funds, stocks, crypto, crypto, and indices. It was first launched in 2011 and now boasts offices in New York and London.
TradingView continues to grow its trader count, with over 50 million users. Data from SimilarWeb shows that TradingView is the most popular investing site. Some impressive features of TradingView include over 100 fundamental fields and ratios on specific markets, custom time-frames, extensive historical data, watchlists, multi-time frame analysis, and many more.
The London-Based Data Available With TradingView
Below is a list of the London-specific data that TradingView covers across financial markets and the economy.
1. FTSE Group Indices: The FTSE (Financial Times Stock Exchange) or ‘Footsie’ is the UK’s main stock index. It consists of the 100 top companies listed on the London Stock Exchange and is a barometer to reflect the stock market’s health in the region.
2. London Metal Exchange (LME): The LME is the world’s largest exchange of futures, forwards, and options on base metals.
3. London Stock Exchange (LSE): The LSE is London’s primary stock exchange with about 1900 companies (according to the latest data). It’s Europe’s most valuable stock exchange (11th overall worldwide). Users can also view the market action of the many individual stocks traded on the exchange.
4. Turquoise: This is a pan-European trading platform owned by the London Stock Exchange Group, offering users access to 4,500 financial instruments across 20 countries, along with US stocks, IOB depositary receipts, and exchange-traded funds.
5. Office for National Statistics (ONS): This government department collects and publishes many statistics related to the economy and population of the United Kingdom.
How Businesses Can Benefit From TradingView’s Market Analysis?
TradingView arguably boasts the most detailed, regularly updated data feeds sourced from institutional-grade partners. The paid subscriptions for the platform are a worthy consideration for those looking to receive data stretching years, which could help uncover long-term trends.
This information can empower businesses in many ways for trading or observational purposes.
Following the Value of the British Pound
By keeping abreast of the price of the British pound on TradingView, businesses dealing with international payments can hedge any potential unfavourable fluctuations.
Learning About the Different Economic Aspects
TradingView’s access to data from the ONS and many other related sources is invaluable to businesses in London. The software covers categories like GDP (Gross Domestic Product), labour, prices, consumer, health, money, housing, taxes, and business-related data (manufacturing PMI, services PMI, and factory orders) in the UK.
These aspects affect businesses in many ways. For instance:
1. Knowing about the changes in the interest rate could make accessing credit cheaper or pricier.
2. Learning about things like the Consumer Price Index and inflation rate helps a business compare its own pricing where it may need to reduce or increase it to stay competitive.
3. Studying the changes in the HMRC tax rates (like corporate tax, sales tax, etc.) lets companies see if their taxes are up to scratch.
4. Businesses must learn about changes in the bond market and yields for different reasons. A company may decide to invest in a government bond for investment purposes. Alternatively, they could create a corporate bond to raise capital.
Taking Advantage of Trading Opportunities
Businesses often have several people who know about trading or investing in the financial markets. They may choose this route to create a new income stream (or speculate for profits), and hedge other investments for example.
TradingView is connected to many brokers worldwide and offers the most complete charting experience.
Should Businesses Invest in TradingView?
TradingView packs a punch when it comes to its market analysis. The platform allows traders and businesses alike to understand the financial markets and economy in a far more advanced way to stay ahead and capitalise on potential opportunities.
While a technological gem, the software’s best features are only available on their paid plans. Many say TradingVIew’s premium packages are slightly expensive, although they offer great value for the serious analyst.
However, it may be a cost that some businesses cannot afford, which is perfectly fine since financial data if often freely available on the internet. Otherwise, the companies willing to use TradingView to the fullest can consider monthly or yearly subscriptions.