Can You Do Trading on a Chromebook?

Chromebooks are lower-powered, and many people seem to believe that this makes it difficult to carry out trading, which is notoriously resource-heavy. So can you do trading on a Chromebook?

KEY POINTS

• Yes, you can use a Chromebook to trade and run a trading business
• However, you need to be aware of the limitations of a web-based platform
• The majority of trading software is designed for PCs and Macs and requires software to be installed locally

This article will guide you through the key features, the pros and cons, and whether you can trade cryptocurrencies and run an online business.

Can I trade on my Chromebook?

So, let’s start with the easy question ‘can you do trading on Chromebook?’. The answer is that you can, although you will make a few ‘sacrifices’ when you use a Chromebook instead of a laptop.

You must remember that a Chromebook is a low-powered computer running ChromeOS, designed to be affordable and portable. Very few have large amounts of storage space.

What is ChromeOS?

ChromeOS is a lightweight Linux-based operating system that is designed to run on Chromebooks and other devices that are powered by Intel and ARM processors. It is built around the Google Chrome web browser and provides users with a simple, fast, and secure computing experience.¹

One of the key features of ChromeOS is its security. The operating system is designed to resist malware and other security threats. It uses several security features, including sandboxing, to protect users from malicious software.

Another key feature of ChromeOS is its low resource requirements. The operating system is designed to run on devices with limited resources, such as Chromebooks. This means it can provide a fast and responsive experience even on devices with low-end hardware.

Finally, ChromeOS is designed to be easy to use. It has a simple user interface based on the Chrome web browser. This makes it easy for users to use the operating system.

Most trading software won’t run because of the low power and the non-standard operating system. The vast majority of trading software won’t run. If you want to run your trades, then you need to use a platform that fits at least one of these criteria:

• They are web-based
• They have an Android app available.

Even then, you may end up making a few sacrifices here and there.

For example, you may not be able to run too many tabs on your web browser at once due to low RAM, and the screen on Chromebooks tends to be small, which means that you can’t have multiple windows open at once, something which many people find necessary for their trades.

In our opinion, you should always gravitate towards a fully powered laptop, or even a full-sized computer, wherever possible. However, Chromebooks do have their place. For example:

• If you are not doing a tremendous amount of trading.
• You are looking for a laptop on a budget.
• You want something that is much more portable (Chromebooks tend to be quite lightweight)
• You are only ever going to use web-based or Android-based apps. 

Is a Chromebook good for Cryptocurrency?

A Chromebook is not as powerful as a traditional laptop, so it may not be the best option for those who want to mine cryptocurrency. However, it can be a good option for those who want to trade or invest in cryptocurrency.

Most cryptocurrency websites are web-based, meaning you will not have to download any additional software.

Why are Chromebooks good for Cryptocurrency?

Because most cryptocurrency trading platforms are purely web-based, others will likely have an Android or iOS app available, so you can quickly get that installed on your Chromebook.

Mostly, you don’t need much information when making your crypto trades. You just need a graph to see the rise and fall of prices, perhaps some system to analyze the data, and your trading platform of choice.

Most people that trade in crypto are not doing deep into fundamentals (balance sheets and income statements) to determine which way the crypto price will move. This means the lower resources often found in a Chromebook could work well.

Are There Any Issues Trading Cryptocurrency On Chromebooks?

The only real issues may arise if the platform that you are using does not have a browser-based version or their app is Windows only. However, in our experience, these problems tend to be few and far between with crypto exchanges.

You must remember that documents produced on a Chromebook are often stored in the Cloud. This means you may want to take a few precautions if you plan to write down wallet addresses, etc. We suggest you write those down instead of uploading them into the Cloud. It just makes things a little bit more secure for you.

Is Chromebook Compatible With MT4?

This is going to be dependent on which version of MT4 you are planning on running.

If you want to use the Android app or the browser-based version of MT4, you will have absolutely no issues. A Chromebook, no matter which one you purchase, is going to have more than enough power here.

If you want to download the MT4 app onto your Chromebook and use it, you cannot get it done. While some people have come up with a few workarounds, none of them are going to be making a pleasurable experience. If you want to use MT4 (and it is a fantastic piece of software!), then always go down the laptop or computer route. Make sure they run Windows too. 

Can You Run MT4 Software On a Chromebook?

Technically, maybe. However, we believe it isn’t worth it.

Google’s Chromebooks don’t run Windows or Mac OS X, so you can’t run MT4 directly on a Chromebook. However, you can use a Chromebook to trade forex by setting up a remote desktop connection to a Windows-based computer that has MT4 installed on it.

The process of renting a virtual server can be prohibitively expensive. At this point, you may as well just buy a laptop. You should be doing this only if you are planning on running several different Windows apps. 

People have discovered ways to run Windows software on a Chromebook. However, a Chromebook will never have enough power to run the software properly. The features won’t work; overall, it can be a frustrating and poor experience.

Are Chromebooks good for an online business?

This is always going to be dependent on the type of online business that you are running.

If you run an online business with nothing more than website work or a bit of light trading, you should be fine using a Chromebook.

Once you start creeping into resource-intensive business running (e.g., search engine optimization software, web design, image editing, etc.), then no, they are going to be terrible. Not only will most software not be functional on a Chromebook, but those pieces of software you can run will often be lacking in resources. 

There are several reasons why Chromebooks are good for online business:

1. They were designed to be lightweight and portable, which is ideal for businesses that need to be able to work on the go.
2. They are very affordable, making them a great option for businesses on a budget.
3. Third are known for their security and reliability, which is critical for businesses that handle sensitive data.
4. Offer a wide variety of apps and extensions that can help businesses improve their productivity and efficiency.

One of the great things about the world of business right now is that many things can be done through a web browser or an app you can get from the Google Play store (i.e., for Android devices).

Specific apps and extensions that can be particularly helpful for businesses include project management tools, time tracking software, invoicing and billing solutions, and customer relationship management (CRM) platforms.

Where do Chromebooks struggle with an online business?

One of the main reasons Chromebooks struggle with online business is because they are not as compatible with certain software and applications as other laptops. This can make it difficult to manage customer information, create and edit documents, or run certain types of businesses.

Some online businesses will struggle with a Chromebook. As you will have seen several times in this article, some trading apps won’t work on a Chromebook. The most popular of these is MetaTrader (although there is a web-based alternative).

You will also be unable to do certain things with other businesses too. For example, running image or video editing software will be almost impossible. That type of software exists on Chromebook, but it isn’t fully-featured software, so it is next to useless. 

Chromebooks don’t have huge amounts of power either. This means that you may struggle to have several browser tabs open at once (important for some businesses), and you may not be able to do things as zippy as you would hope. 

Can I trade stocks on Chromebook? (Can you do trading on a Chromebook?)

Yes. You can trade stocks on a Chromebook. You will be limited in the platforms that you can use. Most popular trading platforms need software downloads. These software downloads may not be available for the Chrome OS. 

Choose a web-based platform. Choose a platform with an Android app. Do that, and your trades will be much easier to deal with.

We can’t say that trading stocks on a Chromebook are a tremendous experience, but it is serviceable for those working on a budget. 

Is a Chromebook laptop good for Trading?

We are hesitant to use the word ‘good’ here. For something to meet the definition of ‘good,’ it must be an ideal experience. Trading on a Chromebook is not an ideal experience.

What are the disadvantages of using a Chromebook for Trading?

The big disadvantage is that you can’t install software locally — though Linux developer mode can be accessed in the Settings (see below). Chromebooks can’t run Windows or MacOS software. This means that MetaTrader is out of the question. It means some data analysis apps are out of the question too.

Do a lot of heavy research when trading? A Chromebook is underpowered. You can’t have too many browser tabs open at once. Goodbye, multiple news sites. Goodbye, chart analysis. Goodbye, multiple trading platforms. 

Can a Chromebook work for trading?  

That’s not to say that a Chromebook laptop doesn’t work for trading. It does. A web-based platform will work. If your platform has an Android app, it will work. It is just that the experience is less than brilliant.

Those who trade on a Chromebook are those that aren’t trading full-time. They just want a quick experience where they don’t want to spend hours on charting or data analysis.

Due to the low cost, a Chromebook could easily make a good starter trading computer. You will need to upgrade eventually. As soon as that cash rolls in, we suggest you pick up a quality laptop.

For now, if you have a Chromebook, go crazy with it. You are limited in terms of platforms, but the platforms you can use are still good. Trading works. It just doesn’t work as well. 

Can MetaTrader run on a Chromebook?

MetaTrader does not currently run on Chromebook. Well, the MetaTrader software doesn’t run on Chromebook. That has been designed specifically for Windows (you can’t even get it to run on a Mac!)

There are MetaTrader options that you can use. For example, MetaTrader has both a web-based system and an Android app. Both of these can be run on a Chromebook. However, they are nowhere near as feature-rich as you would get from a fully-fledged piece of software.

If you have your heart on using MetaTrader, a laptop will probably be the better option. Yes, it is a little bit more expensive. However, you can use the apps you want without jumping through hoops or sacrificing certain features.

Final thoughts

Can you do trading on Chromebook? Yes, you can. It isn’t likely to be a great experience, but you can make it work.

Chromebooks will not support all major trading apps. The screen tends to be small, and these computers are underpowered. However, if you want a cheap computer because your budget is limited, then a Chromebook is a perfect starter unit. You just need to remember that you will probably be giving it an upgrade sooner rather than later.

Remember, if your chosen trading or data platform has an Android app or a website version available, then a Chromebook will work. You probably won’t be able to use all the features you would normally find in the full software. 

SOURCES

1. https://www.google.com/chromebook/chrome-os/