ForexWebTrader Review

Based in Germany, ForexWebTrader is a partnership between Saxobank of Denmark and ForexWebTrader Global Investments of the BVI. ForexWebTrader has been around longer than many competitors, having been founded in 2003. It deals only with the Forex market, unlike some other sites which offer trading in different securities arenas.

It’s easy to get started. While no practice account is available, Forex traders can begin with as little as $25. Registration is through email. Once you sign up, you’ll be directed to a page with more information on creating your user name and password. You can use Visa or Mastercard, a bank wire transfer, or e-gold for sign-up. When you withdraw funds, they will be returned via the same currency.

ForexWebTrader has no shortage of functions to help you trade effectively. Along with a live chat option and email help, the platform gives you a wide selection of charts to view and calculate past, present and future currency movements. Updates regarding global and economic announcements are published 24 hours a day. You can also read up on the professionals’ picks and projections for the day's trading.

ForexWebTrader, available in six languages, offers trading on live tradable prices from the Price/Trade panel. Trading on live tradable prices couldn't be simpler. The One-Click-Trading feature allows you open and close positions instantly. Once enabled, One-Click trading feature is available for 30 seconds. It will then be disabled again as a safety precaution to prevent you trading inadvertently.

ForexWebTrader also enables you to customize how and at what price you trade securities. For example, a Trailing Stop is attached to the stop-loss feature. It allows you to automatically adjust the level of your stop loss so that the stop is always a pre-specified distance from the last best market price.  Trailing stops that dynamically move your order in your favor until the market reverses.

ForexWebTrader also allows you to open positions using versatile trade orders to:

Market Trade –  To buy/sell the currency at the market price

Entry Order    –  Opens a trade at future price you specify if hit or breached

Entry Stop      –  A type of Entry Order: to buy/sell at a less favorable price

Entry Limit     –  A type of Entry Order: to buy/sell at a more favorable price.

Market Order –  An order to buy/sell at earliest Market Price, used while the market is closed.

You don’t have to be at your computer to trade. As part of ForexWebTrader, Mobile WebTrader allows you to manage your account while away from your computer. Open and close positions, place orders or just monitor the current prices. With Mobile Trading, you are no longer locked to your computer.