The Hit of the Season: Web version of MetaTrader 4

Prayers of numerous Forex traders have been heard. It happened. Finally, trading platforms go to the web. Our today’s review is devoted to the web version of the most popular trading platform in the world —MetaTrader 4. Many brokers connect to this web terminal actively.

Let’s look at the web-version of our favorite terminal and identify its pros and cons compared to the usual desktop version.

Our review we conducted on the platform of RoboForex broker.

 

Interface

Current account

Clicking on this item opens the window of changing the current account. To activate trade, click the button with the closed padlock and enter the password in the window that appears. If the padlock is open, you can trade.

Quote panel

The panel shows the quotes and spread for symbols available for trading in this account. Also by clicking the star you can add a quote to favorites. Clicking on the symbol will open its chart.

Symbol chart

Shows the current quotes for the symbol of the line Bid/Ask and history of quotes. Candles and line are available. Unfortunately, bars are missing.

Chart settings

Using this panel you can switch between chart candle/line types, switch between nine major timeframes and chart zooming.

Quick trade

Execution of Sell and Buy operations in one click.

Settings of order opening

Click the big, blue button “New order”, it opens an additional window “Create new order”. The window is divided into three tabs:

1) Market-order — Opening of positions at the current price. Available options: Stop-loss, Take-profit, Lot size (Volume), add comments to the transaction. “Sell” button displays Bid price; “Buy” button displays Ask price, current spread.

2) Limit-order — Pending order of limit type. Available options: symbol, volume, order type, the price of order setup, stop-loss, take-profit, comment, the expiry time of the order. Order type, lot size, setup price are displayed on a single button.

3) Stop-order —Pending order of stop type. Available options: symbol, volume, order type, the price of order setup, stop-loss, take-profit, comment, the expiry time of the order. Order type, lot size, setup price are displayed on a single button.

Positions and orders or trading terminal

This section displays a list of open positions, orders, history of trading and bonuses.

A) section of position — displays only current open positions. Filters of position directions and negative or positive profit positions are available. The following properties of the open position are displayed by default: stock number, opening time, the direction of transaction, the volume of lots, symbol, open price, Stop-loss, Take-profit, broker commission, swaps, current profit. Each position has a button “edit” which you can use to change stop loss, take profit, as well as the button “closing position”. Account balance, current equity, margin, free margin, profits on open positions, button “close all positions” and button “to update the information on open positions” are displayed below.

B) section of Pending orders —Displays only pending orders, both Stop and Limit type. Available filters: direction and order type. The following properties of the pending order are displayed by default: stock number, time of pending orders setup, order type, volume, symbol, setup price, Stop-loss, Take-profit. Each position has a button “edit” which you can use to change the price of order trigger, Stop-loss, Take-profit and the expiry time of the order. “Cancel order” button.

C) history — complete history of closed positions.

D) Bonuses — displays the bonuses provided by your broker, if any.

 

Graphical analysis and indicators

In my opinion, this section is not finalized. There are pretty sparse graphical tools of technical analysis and the very modest list of the most popular indicators. Almost everything is missing.

Additional features

Design Menu. Using this menu, you can disable/enable almost every element of interface or chart, and change the overall color scheme to the light one.

Account Menu. The menu allows you to operate with funds on the trading account, view statistics on the bonuses, get access to quick settings on the account and to open another trading account.

Information Menu. The menu allows you to get access to technical support, company news, forecasts, analytics, training webinars, analytics from Autochartist, news of Dow Jones, etc. Also, you can order a free VPS server, Payoneer Mastercard for profit withdrawal and take part in the lottery.

Pros and Cons

 

Conclusion

It’s a start. Familiar to us all terminal finally went to the web. At the moment, the soft looks still unfinished. It categorically will not suit for the Forex traders who use custom trading indicators and expert advisors. In its current build, this platform is quite satisfied with the long-term investors and beginners. We hope that further development of the web platform will not be abandoned and eventually it will catch up with our favorite desktop MetaTrader 4.