How to Trade with MetaTrader WebTrader
What Is the MetaTrader WebTrader?
With the MetaTrader WebTrader you can trade the financial markets directly from your internet browser, without having to download any software, whilst still enjoying many of the same benefits as trading on the MetaTrader trading platforms.
This makes it perfect for situations where you are away from your main trading terminal and want to continue trading without downloading any software.
Trading With the MetaTrader Web Terminal
In the following sections, we will look at how you can take advantage of trading with the WebTrader with Admirals. In particular, we will look at the following:
- Logging In
- Opening a Chart
- Technical Indicators
- 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 or MetaTrader 5.
If you have not yet opened a MetaTrader 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:
Alternatively, you can head to the MetaTrader web terminal page on our website, enter your email and get instant access to the web terminal and EUR 10,000 virtual funds with a demo account to practice.
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 web terminal, 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 Trader’s Room.
Once you have successfully logged in, you will be presented with a screen which is very similar in appearance to the desktop platforms. For the purposes of this article, we will be looking at the MetaTrader 5 web terminal, however, unlike the desktop trading platforms, the cosmetic differences between MetaTrader 4 and 5 are minimal.
Trade on a Risk-Free Demo Account
An Admirals demo account allows you to trade using virtual currency in real market conditions! This means you do not have to risk your own capital whilst you perfect your trading technique! Click the banner below to get started:
Opening a Chart
The Market Watch window to the left hand side of the screen displays symbols available to trade. In order to add other symbols, scroll to the bottom and search for your desired symbol in the search bar.
Right clicking on a symbol presents you with various options, including ‘Chart Window’, which will open a price chart for the selected instrument. Alternatively, you can click and drag your desired instrument onto the chart section of WebTrader to open a 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.
In order to add technical indicators to your price chart, select ‘Insert’ at the top of the screen and ‘Indicators’, where you will be presented with many of the same options as on the desktop trading platform.
Unfortunately, this area highlights one of the few downsides of trading with the WebTrader, which is that any custom indicators you have set up on your MetaTrader trading 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 in ‘Market Watch’ and select ‘New Order’.
You will be presented with the following screen, allowing you to choose the type of order, its volume and set a stop loss and take profit.
Once you have opened a position, your entry price, stop loss level and take profit level will be marked on the price chart, as shown below.
Any open trades will also be shown at the bottom of the screen in the ‘Toolbox’. As well as your current positions, you can also keep track of your balance, equity, margin, free margin and margin level.
In order to close a position, right click the relevant trade in the Toolbox and select ‘Close Position’.
You will be presented with the following dialogue box, where you will need to confirm that you want to close your position.
By right clicking on the open position in the Toolbox, you can also modify an existing trade.
One Click Trading
In order to turn on one click trading, you need to right click on an open price chart and then select ‘One Click Trading’.
You will then see the one click trading terminal added to the top left hand corner of your price chart. From here enter the desired lot number in the middle and then click either ‘Buy’ or ‘Sell’ to open a trade with just one click. The first time you do this, you will be presented with a screen asking you to confirm that you want to turn on one click trading.
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 terminal, it is very simple to see the spread for the different symbols you have displayed in the ‘Market Watch’ window. In order to view the spread, right click on any of the symbols in Market Watch, highlight ‘Columns’ and then select ‘Spread’.
Once selected, a new column will appear in Market Watch on the right hand side, which will display the spread in pips of every symbol.
You should now have an understanding of how you can trade 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 practice whilst getting used to the web terminal, it might be a good idea to trade with a demo account before heading for the live markets.
Trade With MetaTrader 5
When it comes to trading the financial markets, there are few better options than MetaTrader 5, the world’s number 1 multi-asset trading platform. MetaTrader 5 enables traders access to superior charting capabilities, free real-time market data & analysis and much more! Click the banner below to start your free download:
Admirals is a multi-award winning, globally regulated Forex and CFD broker, offering trading on over 8,000 financial instruments via the best 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.