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WebTrader is among the most popular and widely-used trading platforms. It has an ideal interface for beginner investors and it is customizable, allowing you to design a perfect, work environment with a personal touch. In this article you will find a comprehensive guide about how to use the WebTrader platform and how to fully enjoy its features.
How to access the WebTrader platform
WebTrader is a trading platform developed by BDSwiss. You can find it as a trading service provided by any online broker licensed to have it in their portfolio. For example, TradeFW.com is one of the reliable brokers that offer it, alongside other popular platforms, such as MetaTrader4. In fact, TradeFW is an ideal broker for beginners. Apart from a variety of platforms, it also puts at your disposal multiple account types, a fantastic educational center filled with several learning materials; as well as a courteous and experienced support team. This is exactly what you need from your broker!
Since WebTrader is a web-based platform, accessing it is easier than you think. It only takes a few seconds and it’s a stress-free process. All you need to do is click on the button that opens the platform on your broker’s website and log in to your trading account.
The main areas of WebTrader
After the terminal is installed, a bunch of charts and windows will appear. Let’s begin with the main areas:
- Instruments: this tab will show you all the available instruments, as well as their rates. You can open a new trade by double-clicking the desired tradable instrument.
- My favorites: in here you can find all your customized and favorite instruments.
- Open positions: this window shows you all the current open positions and the ones that are pending. You are also able to modify the orders.
- Trade History: in this tab you will find all the orders you placed and you can also browse different date ranges.
- Charts: this is where the charts you selected will be displayed.
- Spot Panes: this is where the instruments you selected will be available.
How to place a new order
To open a new order, you can access the New Order tab, the Instruments section, or the My Favorites section, in case the desired tradable instrument is there. In addition, you can also do it by accessing the Spot Panes window.
After choosing the instrument you want to trade, the next step is to select the symbol, set the volume of the trade and optionally place an order, such as Take Profit or Stop Loss. If you want to execute the order right away, then press Instant Execution to buy or sell; if not, press Pending Order. You can later access the Open positions window to see your pending orders.
The main chart functions
You can customize the charts as you please, in order to create an optimal trading environment that will help you apply the desired strategy. Here are the main chart functions you should know:
- You can add a chart by selecting the Add Chart option located at the top-left of the WebTrader screen. After that, a new window will appear, with several groups of instruments.
- By clicking on a group, a series of tradable instruments will open. You can select the one you want on the chart.
- After the custom chart appears with the instrument you clicked on, you can select from three different types of candlestick, bars or a line chart.
- You can zoom in and zoom out, as well as scroll horizontally to have a clearer view of the chart.
Other useful WebTrader functions
So now that you know how to juggle with the charts and place an order, there are other features you can benefit from. You will eventually discover them all, but we just want to give you a heads up that they exist and you can incorporate them within your trading plan. Without further ado, here they are:
- You can filter and rearrange assets per change of price.
- You can use indicators, as well as integrated tools to identify possible opportunities.
- The chart features give you the option to choose the settings, style, color, timing, and price action display.
- You can use multi-chart display windows with independent chart functions.
The advantages and disadvantages of WebTrader
WebTrader is a popular trading platform used by millions of traders across the world. However, it’s not the number one trading platform, as its main competitor, the MetaTrader4 has a series of important characteristics that WebTrader lacks. Here are the main advantages and disadvantages of the WebTrader platform:
PROs
- It is accessible and doesn’t need an installation.
- Mobile compatibility.
- A vast amount of tradable instruments, indicators and tools.
- Multi-chart windows.
- The order features work in conjunction with price alert.
- The possibility to customize charts and instruments.
- Clean design and interface.
CONs
- It requires a strong internet connection, which consumes a lot of traffic.
- Large CPU usage.
- Slow navigation.
Conclusion
To sum up, WebTrader is a popular and performant platform overall, ideal for a beginner. However, be aware of its disadvantages and strong internet connection requirement, as these factors could affect the quality of your trades. Make sure you have the proper gadget and set-up to use this trading platform and enjoy its features to the fullest. WebTrader is very easy to use and with the tips presented within this guide, you will have a smooth and stress-free trading experience!
