MetaTrader 4 is the most common trading platform out there among Australian forex brokers. However, it is not the only trading platform in existence. Web Trader 2 or Web is another platform you might want to use for forex trading. The only way to really know what is best to use is if you take an interest in the comparisons and feature details that make up these different platforms. What is the same with MetaTrader 4 and Web Trader 2? What are the differences? Some of this will be examined below in an effort to help you understand the necessity to not only pick brokers for their spread and fees, but also on their trading platforms.
Forex Trading Features of Web Trader 2
Web Trader 2 offers seven features of interest to certain forex traders. You may not find these features are worthy of interest or you may like all of them. That decision is not for this writer to determine. You will be forex trading thus you need to know what you like and need to meet your goals. The following features are just to explain what is out there from Web Trader 2.
Web Trader 2 is completely free. It is available to anyone in the world and does not require a download. It is not an automated system, so there is no robot to interfere with your trading. Instead, you make all the decisions to send via the electronic platform. Your broker will host the trading platform through their website or you can access it via the web with your own log in. Depending on your choice you may be able to trade with your broker or you may have to leave the software in order to trade through your broker.
Forex trading is possible with the charts, FX Insider news and data feed, and charting tools Web Trader 2 has. The last feature is the proprietary software license it holds.
According to the data examined from SwissQuote, Web Trader 2 offers the most features out of all the other platforms it was compared to. This is just one source and another may show something different in terms of features analysed. Always go to the main source to determine what a platform has to offer.
Forex Trading Features Compared to Web Trader 2
MetaTrader 4 requires a download, is not proprietary software, and does not use FX Insider for the data feed. It has news and live rates, but through a different origination source. The one different thing with this forex trading platform is the automated trading option available. It does have a robot option as well as manual trade.
Web Trader 2 was also compared to Advanced Trader and Mobile Trader. Advanced Trader is free, available to all users, and proprietary software. It comes with FX Insider data feed and charting tools. It lacks the other comparison points. Forex trading with Mobile Trader means you have no trading from the charts, no charting tools, and no automation.