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ThinkForex Revamps Its MT4 Webtrader

Jul 04 2013
By
Forexbrokerz.com

ThinkForex is a forex broker with a comprehensive trading platform offering – when signing up with it, you can set up a MT4, ZuluTrade, or Mirror Trader account. Traders who opt in for Metatrader can use the platform in one of its three variation (or in all three, of course): desktop, mobile and webtrader. 

 
Earlier today ThinkForex came up with some great news about the web-based MT4 application: it has now been revamped to include a number of cool new features. 
 
Before I go on to review the new webtrader, here are the changes made to it in a nutshell: 
 
- A one-click trading capability has been added;
- Expanded chart customizing has been improved;
- Compatible with all browsers;
- Customizable layout;
- 20 built-in indicators;
- 14 languages supported.
 
And now, let's take a more detailed look into the platform. 
 

Layout and customization

 
In order to log in to the platform, you need to use your existing MT4 credentials – remember that the web-trader is a supplement to the desktop application for the occasions when you need to access your account from various locations, or an alternative for users of non-Windows operation systems (Linux and Mac). 
 
The interface comprises of different boxes that you can re-arrange and move around – there's one for the trading instrument list, for your favorites, an account info box, etc. In the upper part of the screen there's a menu bar from where you can easily open a box if you close it by mistake, or if you have hidden it on purpose. 
 
If you re-arrange the webtrader's workspace and decide to go back to the original outlook, you just need to click on “Restore layout” under the “Misc” button in the upper right corner, and voila – layout restored. A downside is that every time you log-in to the platform, you are greeted by the default layout – e.g. the webtrader doesn't save the outlook changes you make. 
 

Order types

 
With the webtrader, just as with the desktop MT4, you can place two types of orders: market and pending. To place an order, simply double-click on the name of the trading instrument in the Marketwatch box, set your preferences in the pop-up window that appears and you are good to go. A peculiar thing is that the Stop Loss and Take Profit fields stay inactive for market orders, however you can set SL/TP when the order is executed. 
 
 
If you prefer one-click trading, then you should simply add the trading instruments you are interested in to the Favorites box. Doing so happens when you click on the settings icon next to each trading instrument in the Marketwatch section. 
 
Pending orders let you set an expiration time and date for better trade management, and partial fills of both market and pending orders is allowed. 
 

Charting

 
The charting package that comes with ThinkForex's webtrader is pretty decent – as I mentioned, there are 20 integrated technical indicators, 8 timeframes ranging from 1 minute to a week, and three display modes – line, bar and candlestick. 
 
 
A disadvantage is the lack of the option to arrange the chart windows by tiling or cascading them for example – when you have one chart open and want to load another one, it just appears in a new window on top of the other one. 
 
On the plus side, you can easily resize the charts by dragging the lower right corner. 
 
 

To Recap

 
It seems to me that the webtrader of ThinkForex was designed as a secondary rather than a primary trading platform – it definitely presents less capabilities than the desktop build of MT4. Nonetheless, it's a handy tool to use when you need to access your trading account urgently and you are not at home for example – so you never a miss a trading opportunity like the one that literally just opened up with EUR/USD: 
 
 
What's more, just in July the broker gives you a 10% deposit bonus to celebrate the launch of its improved webtrader, so you have an additional incentive to put some money into your account and give it a try.
 
 

About ThinkForex

 
ThinkForex is a leading international Forex broker headquartered in Melbourne, Australia. It offers traders extremely fast, low latency NDD execution, competitive spreads, swap-free accounts and full hedging. The broker’s customers enjoy excellent promotions on a regular basis, and its highly professional customer support team is available around the clock.
 
ThinkForex was named "Fastest Growing FX Broker" at the MENA Forex Awards 2012 in Dubai and "Best Forex Customer Service" at the UK Forex Awards 2012 in London. 
TAGS: forex trading  trading  forex  forex charts  forex platform  forex broker  webtrader  MT4  metatrader 

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