WebTerminal is a browser-based trading terminal that can be used with MetaTrader4 trading accounts. Its major advantage is that it requires no installation and can be used directly from a browser.
WebTerminal supports basic trading features that are also available in desktop versions of MT4, making it a convenient choice for those just starting to trade.
Below is a comparison of the browser-based WebTerminal and desktop-based trading terminals:
This article will take you through the important steps and features for WebTerminal:
Onceopen, WebTerminal will ask you to choose to log in with MT4 based trading account.
To log in to the WebTerminal:
•Choose MetaTrader4, depending on which platform you registered your trading account for.
•If this is your first log in, enter your trading account number as Login, your trading password as Password, and confirm the server. Otherwise, your trading account details will be entered automatically.
•Click Connect to Account to log in.
To switch accounts in WebTerminal:
•While logged into your trading account, click File> Login to Trade Account.
•Sign in with that trading account’s number as the login, trading password and corresponding trading server; then click OK. You can make switching quicker for next time by ticking Save password.
Quick switching
You can switch active trading accounts by going to File> Switch to account - the trading accounts you have already logged into will be shown in a list that you can select from; you may be prompted to enter the trading account’s credentials once more in some circumstances.
About the trading windows:
Let’s take a look at the three windows displayed in WebTerminal:
•MarketWatch shows you the available trading instruments, their real-time prices, and spread.
•The Chart window shows the chart of the selected trading instrument.
•Toolbox tabs: Trade, where you can see your current open orders, History, where you can see closed orders and balance operations, and Journal, where you can find terminal information.
Configuring WebTerminal
Eventhough WebTerminalis browser based, it still boasts some useful features for your charts, detailed below.
MarketWatch window
By default, you’ll be able to see the 20 most popular trading instruments for your account type, but more can be added.
To add more instruments:
•Right-click anywhere in the window, and select Symbols.
•Click the instrument group to expand its selection. Instruments appearing with the yellow icon are already displayed, while gray icons are hidden.
•Double-click any instrument to add or remove it from the Market Watch window. The Show and Hide buttons function in the same way.
•When done, click Close.
ChartWindow
To open a chart for the selected instrument, simply drag it from the MarketWatch window to the Chart window, or right-click it and select ChartWindow.
There are three available types of charts you can choose from: Barchart, Candlesticks,and Line chart. You can easily switch between them in the menu.
Timeframes can be changed for your chart by either selecting one from the buttons in the header (shown below) or by opening Charts > Timeframes to show a menu of available timeframes.
To change color settings of the chart, right-click on it, click Properties, and then choose one of the color schemes:
•Black on White
•Yellow on Black
•Green on Black
Now that you’ve configured WebTerminal, you’re all set to place a trade!
Opening a trade
In the WebTerminal, you can place both market and pending orders.
To open a market order:
•Double-click an active trading instrument (gray ones are inactive) in the MarketWatch window.
•Specify the Volume, then select Market Execution or InstantExecution (depending on your trading account type) from the selection in the Type dropdown.
•You may also choose to specify StopLoss and Take Profit levels for your order. This is optional, and you can edit this after the order is opened.
•Click Sell or Buy (exact text may vary based on order execution type).
Once opened, your order will be shown in the Trade tab,where you’ll be able to track its progress.
To place a pending order:
•Double-click an active trading instrument (gray ones are inactive) in the MarketWatch window.
•Specify the Volume, then select Pending order from the selection in the Type dropdown.
•Choose the Type of pending order you want from the new dropdown menu, and specify the desired At price value.
•Set Stop Loss and Take Profit levels, and set the Expiry (optional) of the pending order.
•Click Place (if this is still grayed, the parameters set may be invalid).
Once placed, your pending order will be shown in the Trade tab, waiting for the market price to reach the price specified.
About one-click trading
One-click trading is a useful feature that lets you open new orders literally with one click.
Here’s how one-click trading appears in your trading terminal:
If you take a look at the chart you have opened, you’ll see the one-click trading feature above. If you’d like to place an order for a different instrument, drag and drop it to the chart.
To open a trade, specify the volume you want to trade, and click Sell or Buy.
Note you will have to accept the Terms and Conditions for one-click trading before using this feature. To turn one-click trading on or off select Options > One-Click Trading from the main menu.
That’s it, one-click trading makes opening orders simple.
Modifying orders
You can modify your open and pending orders in the Trade tab. To do this, simply right-click on the order in the Trade tab, and click Modify or Delete.
Closing orders
To close an open order, you can either click X in the Trade tab, or right-click on the order, and choose Closeorder. If you have one-click trading active, it will close immediately. Otherwise you will need to confirm this action by clicking the yellow Close button.
Once your order has been closed, it will be shown in the History tab.
