The ChoosaBroker Trading Academy
13.6. MT4 WebTrader Basics
To a novice trader, the financial markets can be very overwhelming. How much money should I risk? Who do I choose as a broker? Do I need a signal provider? What assets should I trade? These are just some of the numerous questions that will baffle a new trader.
There are many key choices to be make – some tougher than others. But selecting a trading platform is definitely not one of them. The overwhelming choice of a vast majority of professional Forex traders is MetaTrader 4. And the merits are not hard to find. User friendly and intuitive interface, wide array of tools and the option to operate via a web platform are some of the clinching factors. Through this lesson, we will learn about:
MT4 WebTrader Overview
The MetaTrader 4 web platform allows you to trade a diverse basket of assets from almost every browser and operating system without the need to install any additional software. Access your trading account and start buying and selling your favourite currency pairs in just a few clicks on the keyboard. All you need is a fast and steady internet connection.
Getting Started With MT4 WebTrader
- Login to WebTrader through your broker supplied credentials.
- Once you login, you will be directed to the “TRADING AREA.”
- On the top left-hand corner, there is a search bar through which you can construct your desired asset-list.
- To view a chart, click on the “OPEN CHART” tab located right next to the respective asset name.
- If you want to initiate a long position, specify the quantity and press on “BUY.”
- To enter in to a short position, specify the quantity and click on the “SELL” tab.
- As soon as a trade has been filled, it will automatically get reflected in the Order Summary panel located below the price chart.
Key MT4 WebTrader Tools and Functions
- Direct trading via a browser
- Compatible with almost any browser and operating system
- Robust Security
- Real Time Quotes in the Market Watch
- Advanced analytical tools
- 8 different time frames to cater to participants from scalpers to long term investors
- 11 types of price charts (candle sticks, bars, lines, Heikin Ashi, Renko, Kagi, Point and Figure, etc )
- Access to 30 different technical indicators
- Large number of graphical objects, including horizontal lines, vertical lines, Fibonacci levels, trend lines and price channels
- Fully synchronized with MT4
- Access to both Real and Demo Accounts
- Instant viewing of account history
MT4 WebTrader Advantages
- Extremely user friendly interface
- Requires no download. Simply login and trade from your browser
- Ability to trade anytime from anywhere
- Complete suite of trading operations
- Reliable data protection
- One Click Trading
- Dynamic order routing
- Trade entry from charts
- Fast order execution
- Setting and deleting of pending orders in the dialogue window
- Advanced “Close All” functionality