Easy to use and simple interface makes Webtrader attractive to many traders around the globe. Learn more about the advantages and disadvantages of forex broker Webtrader in this article.
In forex trading, many platforms can be utilized and each of them has a wide range of functions, from the basic ones to the more sophisticated features for experienced traders. The most common platform used by traders is currently Metatrader 4, a software that enables traders to place their trades and monitor their accounts through forex online intermediaries or brokers.
However, for some people, installing software on a device is no longer efficient. That is why forex brokers now are offering their clients the alternative to trade in a WebTrader.
So what exactly is a WebTrader?
WebTrader is a platform that allows you to trade forex from any browser and operating system without having to install any additional software on your devices. All you need is an internet connection. With only a couple of clicks, you can access full information about your account and start trading.
Just open the official broker's website, you will be guided to your account, and then you will be able to open the price chart, analyze it, and execute orders straight away. This option can be very interesting to many people at the moment because of its effectiveness and simplicity.
The Advantages of WebTrader
Easy to Access
The most apparent advantage of a WebTrader is that it allows you to trade anywhere and anytime – be it from home, on the road, or vacation spots. All you need is a stable internet connection and an up-to-date browser. This is highly recommended for people who have tight schedules with high mobility to jump from one place to another, in which they don't have much time to sit in front of the computer all day to monitor the price chart. You can even login with the same account from the MT4.
Faster and Lighter Performance
Not having to install an app or software on your devices makes WebTrader a light platform that doesn't take much space in your device memory. This characteristic then affects the platform's performance as a whole, making it possible for traders who do not want or cannot install any software on their devices but still want to enjoy quick access to their accounts.
Equipped with Technical Indicators
Technical indicators are useful for traders in many ways. They operate as tools connected to the web and manage to help traders analyze their positions and give a different perspective of the market. They can offer many functions for either long or short-term forecasts, such as looking back at historical data or a view into the current price of a currency pair. Various web-based platforms may offer different combinations of these indicators, so you must put this into consideration before you choose to use a certain WebTrader.
Since most WebTraders have a more limited series of functions than other platforms, it is well suited for new traders who are still learning and like to follow a simple trading strategy. Therefore, the web interface is usually more attractive and straightforward because there are no complicated functions provided on the platform.
Supports Social Trading
Social trading combines social networks and online trading, where traders exchange their experiences and ideas about the market and trends. Traders could share their insights, discuss various trends, learn each other's strategies, and many more. Some WebTraders offer this feature to attract novice traders who have yet to understand how forex trading works in a more sophisticated way. Some of the trading platforms that provide a social trading feature are eToro and Zulutrade.
More Reliable to Binary Options
A binary option is a financial product where traders receive a payout or lose their capital based on their prediction of a price movement over a set period of time. Binary options depend on the outcome of a "yes or no" proposition, hence the name. As one of the simplest methods in trading, binary options are often provided in WebTraders.
The Disadvantages of WebTrader
- Various platform displays among brokers can confuse traders so they need time to have a good understanding when trying to use WebTraders for the first time
- Compared to MT4, WebTraders have a smaller range of technical indicators.
- As for now, most WebTraders still focuses on the concept of simple trading, making it less compatible for traders with complex trading systems.
See also: Best Brokers for Professionals
Top 5 Forex Brokers Providing WebTrader
InstaForex is an international broker that provides trading services to traders globally. Since it was founded in 2007, InstaForex has provided for clients from various countries as many as 7 million traders. Based in Kaliningrad, Russia, InstaForex always attempts to improve the quality of the company in order to captivate the hearts of their clients.
Their hard work can be proven, one of which is by achieving a variety of awards, including Best Forex Cryptocurrency Trading Platform 2018 by UK Forex Awards, Best ECN Broker Asia 2018 by IBM, Forex Broker of the Year for Eastern Europe 2018 according to le Fonti Awards, Development, and Success award at Financial Olympus 2016-2017, etc.
There are 4 types of account offered by InstaForex representing a universal trading tool that help to work on international financial markets, such as Insta.Standard, Insta.Eurica, Cent.Standard, dan Cent.Eurica. Trading account types differ by the methods of accounting spreads and commissions, which are picked by the trader opening an account.
Insta.Standard account is relevant for standard trading terms on the Forex market and allows a trade to be settled with classical spread and with no fees. Traders will be charged a fixed spread every time they make a transaction. Spreads that are provided ranging from 3-7 pips. The main advantage of this type of accounts is its universality, as a trader can change the trading leverage and work with a deposit size convenient for traders.
Different from Insta.Standard accounts, Insta.Eurica accounts do not require payment of any spread on opening a deal. Therefore, this type of InstaForex account is suitable for beginner trader with a minimum transaction of 0.01 lots.
There are also other types of accounts InstaForex, namely Cent.Standard and Cent.Eurica which can be used for beginner traders because they can use the minimum transaction volume, which is 0.0001 lots (the cost per lot is USD0.1 cent). Deposit currencies that can be used by traders are EUR and USD (for all types of accounts).
Trading in InstaForex is quite a given as traders can choose to trade with leverage between 1:1 to 1:1,000. With a minimum initial deposit requirement of only USD1 (for all types of accounts), InstaForex clients have the opportunity to get a 30% to 100% deposit bonus.
Not only that, but beginner traders are also exempt from confusion in determining forex trading strategies. Because Instaforex provides ForexCopy services that allow traders to copy orders from professional traders in just a few minutes.
And then, there are around 300 trading instruments offered by InstaForex for traders. In addition to currency pairs, there are also futures, shares, gold, silver, CFDs, Bitcoin, and others.
Every InstaForex client is free to choose a trading platform that can be tailored to their needs. There are four types of trading platforms available, including InstaBinary, WebIFX, MetaTrader4, and MetaTrader5. Each platform has advantages and disadvantages. InstaForex also provides video tutorials on how to register on each platform. It aims to make it easy for beginner traders who want to join InstaForex.
If a trader still confused after seeing the video tutorials, traders can contact customer service available 24 hours connected to various social media, including email, Skype, Whatsapp, Telegram, Viber, Twitter, and Phone Call. On the InstaForex website, there are around 30 languages provided to facilitate traders from various countries.
The trader can also help themselves with trading calculators provided on the InstaForex website. Traders can accumulate currency pairs, Leverage, volume, and currency used.
The payment system in InstaForex is also diverse. Traders can pay deposits via Visa, Mastercard, Skrill, Neteller, PayCo, as well as Wire Transfer. All in all, InstaForex is a well-rounded broker for many types of traders.
Instaforex is one of the most heavily discussed among traders and one of the few brokers that offer an in-house WebTrader product (developed by their own team). InstaForex WebTrader is a unique product that allows traders to place their orders, manage their accounts, and monitor the market in a browser.
Generally, Instaforex WebTrader has three unique interface features: Classic, Dashboard, and Chart. You can easily access price charts and perform technical analysis using various indicators and objects. Compared to other WebTraders, Instaforex's web-based platform has quite a complete range of analytical tools to help traders even if their chart feature is still based on TradingView. Not only that, InstaForex also provides a news feed page to show updated news in their WebTrader. The only drawback lies in the appearance of the platform, which, as a whole, still seems monotonous.
Since 2009, the action of FBS Holding Inc. or known as FBS in the world of forex trading has been recognized by various international institutions. With clients reaching 14 million as of 2019, FBS has received the title of Most Transparent Forex Broker 2018, Best Investor Education 2017, Best Customer Service Broker Asia 2016, IB FX Program, and many others.
FBS is regulated by IFSC Belize and CySEC Cyprus. This broker has been trusted by millions of traders and 370 thousand partners from various countries. Based on their data, FBS garners about 7,000 new traders and partner accounts every day. And, 80% of the clients stay in the FBS for a long time. No wonder the broker is growing rapidly due to the incredible growth in the number of clients.
Trading products offered by FBS range from forex, CFD, precious metal, and stock. For forex trading, CySEC-regulated FBS offers leverage up to 1:30 on Cent and Standard Accounts. Clients who want to try higher leverage than that can alternatively register an account under FBS Belize.
In all types of accounts, provided spreads start from 1 pip. On a standard account, volume orders can be made from 0.01 to 500 lots. Therefore, this account is recommended for experienced traders.
Whereas on Cent Accounts, volume orders can be carried out with a maximum of 500 cent lots or the equivalent of 5 standard lots. Cent Accounts involve a different level of risk. FBS recommends Cent Accounts for beginner traders. All account types support the following trading tools: 28 currency pairs and 2 metals.
Before plunging into the real forex market, traders can practice with FBS Demo Account which consists of two types, i.e Standard and Cent.
FBS uses the MetaTrader 4 and MetaTrader 5 platforms. They offer them on Windows and Mac as well as Android and iOS mobile. These platforms provide a trading experience at traders' fingertips, allowing traders to progress as a trader anywhere at any time.
MetaTrader platforms also have a variety of mainstay features, including the possibility to create, buy, and use expert advisors (EA) and scripts, One-click trading and embedded news, technical analysis tools, the possibility to copy deals from other traders, hedging positions, and VPS service support.
Another advantage provided by FBS is a deposit bonus of 100% for clients who fulfill certain requirements. The process of depositing and withdrawing funds can be run easily and quickly. Based on clients' testimonies, each process usually takes no more than 3-4 hours, except on holidays.
To increase the security of client funds, FBS also provides segregated account where 70% of funds can be deposited in the client bank. This broker also presents something unique; a guarantee 10% to 100% of the deposit fund. If a trader loses funds during a transaction but is insured, FBS will refund the trader's funds.
Traders also have the opportunity to develop a side business when trading with FBS, namely as an Introducing Broker (IB) or Affiliate. The FBS partnership system provides partner commissions that are already in 3 level positions. Only by introducing new clients to FBS according to certain procedures, traders can earn extra income.
Traders will also get trading education experience at FBS. They have prepared a comprehensive forex course. The course consists of 4 levels: beginner, elementary, intermediate, and experienced. Traders can take courses that will turn them from newbies to professionals. All materials are well-structured. Besides, FBS provides various forex analyzes, webinars, forex news, and daily market analysis that can be accessed easily on their site.
Traders can access the FBS website with many language choices. Of course, this will increasingly provide comfort for traders. Available languages include English, Dutch, Italian, French, Portuguese, Indonesian, Spanish, and others. Live chat support is also provided 24 hours 7 days a week.
In conclusion, FBS is a widely known broker among retail traders around the world. It continually grows to become a preferred broker because of flexible trading conditions that enable its clients to trade with various instruments, low deposit, and other trading advantages.
FBS is also one of the most well-known brokers in the market, especially for retail traders. They just released their MT4 WebTrader a few years back and it has gained high popularity ever since. Like InstaForex WebTrader, the MT4 WebTrader at FBS can also be used for trading both demo and live accounts.
There is no more reason for traders to consider deposit conditions as an obstacle when opening a trading account, at least in AGEA. This broker provides a No Deposit program for new traders, so they no longer need to prepare any money as a deposit. The amount of free funds is $5 and is specifically given to Streamster clients. Besides, AGEA also provides $10,000 as virtual money. The purpose of these funds is to practice trading.
Another advantage traders can receive from AGEA is low spreads. The lower the spreads set by the broker, the higher the chance for traders to earn more profits. AGEA also provides a trading facility in the form of swap-free. All trading accounts registered with AGEA are free from swap fees. This facility is certainly very suitable for beginners and professional traders.
Facilities offered by AGEA to help clients make the company one of the most trusted brokers among traders from all over the world. This broker is registered with the company name of AGEA International AD. Since founded in 2005, AGEA has its headquarters in Montenegro, Southeast Europe.
The head office's position in Montenegro helps AGEA to be regulated by the Market in Financial Instruments Directive (MiFID). To ensure its service quality, AGEA is working continuously with legal and compliance experts so that they are fully compliant with relevant local and international laws and regulations.
Traders' convenience also increases with the security of funds AGEA. Clients' funds held by AGEA are maintained in separate bank accounts at local and international banks, in line with relevant laws and regulations.
AGEA provides its services through several trading platforms. One example is AGEA's proprietary platform, Streamster. In this platform, traders will get a comfortable and simple trading experience. Streamster is also a powerful platform that has its API for algorithmic trading. The interface of Streamster is considered as user-friendly and easy to use. On a Streamster account, traders can trade with a leverage of 1:100.
Besides the Streamster platform, AGEA also provides MetaTrader 4. It is a programmable trading platform intended for use by traders who understands how to code. It provides the necessary tools and resources to analyze the price dynamics of financial instruments and is integrated into Expert Advisors. Besides currency pairs, traders can trade with other instruments, such as CFDs, Gold, and Silver.
The process of opening an account at AGEA is easy and fast. Traders only need to fill out a registration form online. It takes 5 minutes to fill out the form, then provides due diligence documents before trading.
Processing speed can be found when depositing and withdrawing. AGEA is known as the broker that has the most smooth system in the payment process. They provide various methods of deposit and withdrawal, including Credit Cards, Skrill, Neteller, FasaPay, WebMoney, Wire Transfers, and many more.
When joining AGEA, traders can also find unique partnership programs while receiving additional benefits. The program is called the Affiliate Program. AGEA's partners can refer clients to AGEA via the website or by sending them coupons in an e-mail. For each live position client closes on the Streamster trading platform, partners will receive a commission in value of 15 points.
For instance, if partners have clients who sometimes close about 15-20 positions per day, they can earn hundreds or even thousands for each month by simply referring clients to AGEA. Besides, there is no charge for participation in the program.
There is also the Assistant program. It provides an opportunity for current members of their affiliate program to work more closely with AGEA. To apply for the AGEA assistant program, partners need to have a regular client account. If traders still feel confused, traders can contact AGEA team support by e-mail and Live Chat.
Based on the review above, it can be concluded that AGEA provides so many special programs for their clients. Both beginners and professional traders have a big chance to optimize their earnings. For novice traders, they can benefit immensely from AGEA's no deposit bonus.
AGEA, or previously known as Marketiva, has been offering a proprietary platform model in the long run. Their Streamster now can also be accessed via the web. Even though there haven't been many technical indicators provided yet, AGEA's Streamster web is capable to accommodate new and pro traders. Basic features such as chart price and order options are available, as well as updated news, fundamental financial calendar, and online chatting service. Moreover, the time frame options are quite reliable for scalpers.
OctaFX is one of the most famous brokers in the world and has won many awards for its very comfortable trading atmosphere and proximity with customers. OctaFX was founded in 2011 with headquarters in Strovolou 47, Kyros Tower, Nicosia.
Prestigious awards that have been received by OctaFX include the Best ECN/STP 2019 and the 2019 Best Broker in Asia given by FX Daily Info. The Global Banking and Finance Review magazine also gave the Best Broker award in Asia in 2018 to this broker. More than that, there were also awards from European CEO Magazine (Best FX Broker 2018 and Best Trading Conditions).
For traders in most countries, OctaFX is under the authority of Octa Markets Incorporated and is registered in Saint Vincent and the Grenadines. This broker also provides various facilities, such as providing support services by live chat and WhatsApp in Indonesian. Not only that, deposits and withdrawals of funds can be done through various local banks. OctaFX does not charge commissions for every deposit and withdrawal of funds made by traders.
OctaFX offers different types of accounts that are carried out with market execution (STP/ ECN) and floating spreads from 0.2 pips. A variety of forex strategies, ranging from Scalping, Hedging, and the use of Expert Advisors are permitted in all accounts at OctaFX brokers.
There is also a fixed exchange rate offer when opening a Micro MT4 account. All deposits made in IDR will be calculated at the rate of USD1 = Rp10,000 and will be entered into the trader's account balance. Also, Swap-free accounts are available for Muslim traders who want to avoid overnight interest.
Trading in OctaFX is also suitable for novice traders. Because OctaFX offers low spreads, which are floating starting from 0.0 pips. The required initial deposit is also low, only USD25. The currencies used on the account are US Dollars and Euros.
OctaFX gives a bonus of 50% each time a trader makes a deposit. That way, the capital gained by the trader becomes bigger. Opportunities to open positions increased and deposit bonuses can be withdrawn on the terms and conditions.
If traders are still confused about calculating profits, the OctaFX platform provides a trading calculator for each account type. Traders only need to enter the currency pair being traded, the amount of leverage, the number of lots, and the type of currency used in the account.
Opportunities to get profits are also getting bigger with the Autochartist feature. Traders will get notifications quickly when there is a profit signal in trading. The accuracy of the trend prediction reaches 83%.
Traders do not need to worry about the safety of funds at this broker. OctaFX uses segregated accounts and protects personal data and online financial transactions with SSL technology. This is adjusted to the international accounting standards and regulations.
Another advantage offered by OctaFX is the Trade & Win program. Opening an account in OctaFX would open the opportunity to collect trading lots, which can be accumulated into a variety of attractive prizes. Traders only need to open a real account on MetaTrader4 or MetaTrader5 through OctaFX and simply exchange the prize lot in this promotion. Prizes that can be obtained by traders include T-shirts, Android Smartwatches, smartphones, and laptops.
Traders need not worry about missing out on promotions. Because OctaFX often bonuses and other promotions. This broker holds a trading contest every week on a demo account with real prize funds that can be used for trading.
One example of a prize contest is OctaFX Champion - MT4 Demo Contest. With a total prize of USD 1,000, there are places for 4 winners in each contest period.
Apart from regularly holding trading contests, OctaFX also provides a web version of cTrader – a competitor of MT4 that is currently being offered by many brokers. cTrader has the advantage of an attractive appearance and a "clean" impression. In addition, many users claim that cTrader is more accurate and faster in execution. Lastly, this platform also offers direct access to the market, making it more promising for ECN trading.
See also: What are ECN Forex Brokers and How are Their Fees?
OctaFX seems to no longer see the cTrader as an alternative platform because their trading account options are now more integrated into the types of platforms, including the cTrader.
Avatrade can be called one of the most well-rounded brokers that support almost all trading styles. Not only allowing hedging, scalping, and expert advisor (EA), Avatrade also completes their service with One-cancels-the-other order (OCO) and AutoTrading in many variants of automated trading systems.
AvaTrade was founded in 2006, with the primary mission to empower people to trade with confidence. If traders are still confused about what is the best broker for supporting trader's trading, AvaTrade perchance option of traders, because it has been evaluated and honored for some of the industry's most remarkable financial and technological achievements that it provided to clients.
In 2019, the Dublin-based broker got achievement from Daytrading.com as The Best Forex Broker 2019. Besides, the company is honored as Best Forex Broker, Best Bitcoin CFD Trading Provider of the year, and Best Affiliation Programme in the European area.
Furthermore, for traders who have high mobility, AvaTrade provides many platforms that allow traders to trade using laptops and mobile phones. The availability of the free Autochartist tool in the platforms is the best support for both novice and experienced traders because it makes it easier for them to find trading opportunities without the need to glance at charts all day.
The Autochartist free signal is provided in Gold Account, Platinum Account, and AVA Select. By opening an account in AvaTrade, traders don't have to pay for getting a full Autochartist service. Autochartist itself is a market scanner tool that can detect trading signals from various technical perspectives.
Traders can access AvaTrade in many variants of platforms, such as AvaTradeGO, MetaTrader 4, MetaTrader 5, Automated Trading, Mac Trading, Web Trading, Mobile Trading, and AvaOptions.
In terms of regulation, AvaTrade is regarded as a superior broker because it has a lot of credible licenses. That way, even with deposits of up to ten thousand dollars, security can be guaranteed. Applying the Segregated Account system, AvaTrade is regulated by the Central Bank of Ireland (No.C53877), ASIC Australia (No.406684), JFSA Japan (No.1662), and South Africa (FSP 45984).
Can traders lose more than their deposit abruptly in the event of high volatility? AvaTrade explicitly answers no, as traders have negative balance protection.
With a minimum deposit of USD100, AvaTrade offers various leverage depending on the trading instruments; whether it is forex (starts from 30:1), indices (starts from 20:1), commodities (starts from 5:1), ETFs (starts from 5:1), or cryptocurrencies (starts from 2:1).
AvaTrade has committed to a set of values in relation to customers. Therefore, the company provides the best trading experience, offering multilingual customer service and the most sophisticated and user-friendly trading platform.
New traders can also learn forex trading in the Education tab on AvaTrade's official website. Traders will find a wide collection of articles, video tutorials, and more tools that will assist them every step of the way. It is an important requirement as the forex market might be a bit overwhelming and even scary at times, so traders need to make sure that they are fully prepared to begin trading in the real account.
There are many types of account types provided by AvaTrade. There is also an Islamic Trading Account, which is uniquely provided for Muslim Traders. Islamic account type is similar to a regular one with one key difference; it is not subject to any special fees or interests (swap-free), which sits well with the finance principles of Sharia Law.
If traders have felt confident for forex trading, traders can choose AvaTrade as an ideal choice. The minimum deposit and various platforms offered to make it a suitable destination for even beginners who would like to try forex trading for the first time.
Avatrade is one of the most popular forex, CFD, and cryptocurrency brokers in the market. The company has obtained operating licenses in Australia, Japan, and South Africa among other markets, and has gained more than 300,000 registered customers globally. The Ireland-based broker also executes more than two million trades a month.
Alongside the MT4 platform, AvaTrade offers trading via the web-based and mobile trading platform, which provides a risk reduction tool called AvaProtect to help traders minimize the probability of losing. For professional traders, they have a rigorous ion process before giving access to the trading platforms, including checking their relevant experience in the past and their trading history.
As for novice traders per se, AvaTrade provides a simple web interface that is relatively easy to use and a bunch of educational materials to master the art of successful trading and investing. With only a few clicks, traders can learn from comprehensive video tutorials on the topics ranging from trading basics to more complicated strategies, especially on how to use all the assets and tools in the trading platforms itself along with risk management and safe trading tutorials.
For your consideration, we have compared 3 of the 5 brokers above side by side in the table below.
|❗Information||Testimonials (54), News (19), Bonus (10), Promotions (3), Contests (4)||Testimonials (161), News (35), Bonus (10), Promotions (10), Contests (11)||Testimonials (11), News (1), Contests (3)|
|💲 Min Deposit||$1||$1||$1|
|⚖ Max Leverage||1:1000||1:3000||1:500|
|💡 Min Position||0.0001 lot||0.01 lot||0.01 lot|
|💳 Payment||Skrill, Wire transfer, Credit/debit cards, Neteller, UnionPay, AliPay, SOFORT, Crypto, Litecoin, Dash, Crypto Cash, AdvCash, Ripple, Tether (USDT), Dogecoin, NEO, AstroPay and EOS.IO||Credit/debit cards, FasaPay, Local bank transfer, Neteller, Perfect Money, Skrill, UnionPay and Wire transfer||Credit/debit cards, FasaPay, Neteller, PayPal, Perfect Money, QIWI, Skrill, TrustPay, WebMoney and Wire transfer|
|🧩 Demo Account|
|📁 Segregated Account|
|🕋 Islamic Account|
|👨💻 PAMM Account|
|📈 Managed Account|
|🇺🇸 US traders|
|🏆 Trading contests|
|⚡ Automated trading|
|💰 Bonus offers|
|📖 Free education|
|1️⃣ One-click trading|
|⏱ Trailing stop|
|⏳ Pending orders|
|Gold & Silver|
|🗣 Website Languages||Arabic, Azerbaijani, Bulgarian, Czech, German, English, Spanish, Indonesian, Italian, Japanese, Georgian, Lithuanian, Latvian/Lettish, Malay, Dutch, Polish, Portuguese, Russian, Slovak, Turkish, Ukrai||Arabic, Bengali/Bangla, Burmese, Chinese, English, French, German, Indonesian, Italian, Japanese, Korean, Laothian, Malay, Portuguese, Spanish, Thai, Turkish, Urdu, Vietnamese||Afrikaans, Albanian, Amharic, Arabic, Armenian, Azerbaijani, Basque, Bengali/Bangla, Bulgarian, Burmese, Byelorussian, Catalan, Chinese, Corsican, Croatian, Czech, Danish, Dutch, English, Estonian, Fi|
|🚪 Trade Now||Open InstaForex||Open FBS||Open AGEA|
If you want to see how the other two compared to the rest of it, see our forex brokers comparison.
WebTrader is convenient in many ways, both for novice and professional traders. Without having to spare an additional space in your device or installing software, you can log in to the online page and start trading.
However, WebTraders are not without flaws because most of their features are still limited compared to the installed trading platforms. This is why traders must consider carefully what they need when choosing a trading platform. If you are still new to WebTrading, try to find a broker that provides a demo or a trial on their web-based platform so you can try and see if it suits you without risking any real money.
More than just helping you to try a trading platform, a demo account is very beneficial for new traders as it enables them to trade in the real market with (almost unlimited) virtual money. To find out any ideal brokers for it, go to forex demo accounts.