How to Trade with MetaTrader WebTrader
The MetaTrader WebTrader is a web trading platform which provides traders and investors the opportunity to make trades directly from their internet browser without needing to download additional software. In this article, we will explore the MetaTrader web terminal in detail, highlighting many of its main features for traders and investors.
Table of Contents
What Is MetaTrader WebTrader?
The MetaTrader WebTrader allows you to trade the financial markets directly from your internet browser whilst still enjoying many of the same benefits as trading on the MetaTrader desktop trading platforms.
This makes the MetaTrader web terminal ideal for situations when you are away from your main trading terminal and want to continue trading with a web based trading platform.
Trading with MetaTrader Web Platform
In the following sections, we will look at how you can take advantage of trading with the MetaTrader web terminal. In particular, we will look at the following:
|Opening a Chart|
|How to Enter and Exit a Trade|
|One Click Trading|
|How to View the Spread|
In order to trade using the MetaTrader WebTrader you need to have either a live or demo trading account for MetaTrader 4 (MT4) or MetaTrader 5 (MT5) (there is an option for both a MetaTrader 4 Web Terminal and a MetaTrader 5 Web Terminal).
|Throughout this article, we will use images of the new MetaTrader 5 WebTrader. Whilst the interface is different to that of the MetaTrader 4 WebTrader, many of the features are exactly the same.|
If you have not yet opened a trading account and wish to do so, you might want to take a look at our following articles, which will guide you through the process for both MT4 and MT5:
Alternatively, you can head to the MetaTrader WebTrader page on our website, enter your email to get instant access to the web trading platform and EUR 10,000 virtual funds with a demo account to practise.
If you already have a trading account, on the same page you can click on either “MetaTrader 4” or “MetaTrader 5”, depending on your account type, in order to log in.
You will then be redirected to the MetaTrader web platform, where you will need to enter your account details and select the relevant server from the drop down box.
If you are unsure what your login details are, you can find them by logging into the Dashboard.
Once successfully logged in to the web based MetaTrader, you will be presented with a screen like the one below, which is somewhat similar in appearance to the desktop platforms.
Trade on a Risk-Free Demo Account
An Admirals demo account allows you to trade using virtual currency in realistic market conditions! This means you do not have to risk your own capital whilst you master your trading technique! Click the banner below to get started:
Opening a Chart
On the right hand side of the screen, you will see a list of symbols available to trade. In order to search for an instrument which isn’t listed, simply type its name in the search bar at the top. When you find your desired instrument, simply click on it to open a price chart.
In the toolbar at the top of the screen, you will see options in order to change the timeframe of an open price chart, as shown below.
As with the desktop versions of MetaTrader, the web trading platform comes equipped with an array of technical indicators to assist with your chart analysis.
In order to add your favourite indicators to your chart, find and click on the icon shown below at the top of the screen.
You will be presented a screen displaying with many of the same options as on the desktop trading platform. Unfortunately, however, this highlights one of the few downsides of trading with the web based trading platform, which is that any custom indicators you have set up on your desktop platform will not be available to use.
How to Enter and Exit a Trade
To place a new order in the MetaTrader web terminal, you can right click the relevant symbol from the list on the right hand side of screen and select ‘New Order’. Alternatively, if you already have the price chart open, you can select ‘New Order’ at the top of the screen.
The following box will pop up on the left hand side of the screen, in which you can choose the type of order, the trade volume and set a stop loss and take profit.
Any open trades will be shown at the bottom of the screen. As well as your current positions, you can also keep track of your balance, equity, margin, free margin and margin level.
In order to modify or close a position, right click the relevant trade at the bottom of the screen and select ‘Modify Position’. You will be presented with the dialogue box shown below, where you can modify or close your existing trade.
One Click Trading
In order to enable one click trading in the web based MetaTrader, click the icon shown below.
Once activated, ‘Buy’ and ‘Sell’ icons with the current market prices will appear in the top left hand corner of the chart.
The number in the middle of the two buttons represents the volume of the trade, which traders can edit. The first time you attempt to use this feature, you will be asked to confirm that you want to turn on one click trading but, once turned on, traders can enter the market with just a single click.
How to View the Spread
The spread is the name given to the difference between the bid and ask prices of a financial instrument and is one of the main sources of income for a broker.
In the MetaTrader web platform, it is very simple to see the spread for the different symbols you have displayed in the Market Watch window on the right of the screen. In order to view the spread, right click on any of the symbols, highlight ‘Columns’ and then select ‘Spread’.
Once selected, a new column will appear which will display the spread in pips of every symbol.
You should now have an understanding of how you can trade and invest using a wide variety of instruments through your internet browser with the MetaTrader web terminal.
The best way to familiarise yourself with the MetaTrader WebTrader is to head over and give it a go yourself! If you are new to trading, or just want to practise whilst getting used to the web trading platform, it might be a good idea to trade with a demo account before heading for the live markets.
Trade Forex and CFDs with Admirals
If, however, you feel ready for the live markets, you might be interested to hear that, with a Trade.MT5 account from Admirals, you can trade Contracts for Difference (CFDs) on a wide range of instruments, including Forex, commodities and stocks. Click the banner below to open an account today:
Other articles you may find interesting:
- How to Install MetaTrader 5 For Mac
- Use MetaTrader Like a Pro With MT4 & MT5 Shortcuts
- Overview of the Best MT5 Indicators
Admirals is a multi-award winning, globally regulated Forex and CFD broker, offering trading on over 8,000 financial instruments via the world’s most popular Forex trading platforms: MetaTrader 4 and MetaTrader 5. Start trading today!
This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.