If you want to trade Forex, you need some sort of interface that connects you with your Forex broker. It’s simple as that. But you usually want to have a good interface you can work with. In the old days, you had to call your Forex broker to make a trade. This is ridicolous nowadays because there are several Forex platforms that work without even one phone call.
There are two options how a forex platform can look like: webtrader and download platform. With a webtrader you can start trading in your web browser without making a download at all. With a download forex platform you have to download and install a forex software and when everything is installed properly you can start trading. There are pros and cons for both methods so let’s take a look at them.
There are a couple of Forex broker that offer a webtrader. This means that you can trade directly in your browser and you don’t have to download a Forex platform. There are several advantages with a webtrader compared to a download platform. The most important advantage is that you can trade everywhere. You can login at the University or an Internet café and start trading. You don’t have to make a download and install a software. The only requirement is that the PC you want to use the webtrader must support Java. Because the most forex webtrader run with Java only.
But there are also downsides. There might be features that don’t work with the webtrader platform. These are especially some indicators for your technical analysis that don’t work. This is pretty likely because Java platforms are sometimes limited with technical support. Java can’t provide all the features there are.
And it can take a few minutes until the webtrader is loaded. This is especially annoying when you start the webtrader for the first time. It sometimes is even faster when you just download the software and install it.
Of course, you can save some disk space when you use a webtrader and don’t download the software.
Forex download platform
This is the classic Forex platform. You can download and install it. Then you have it on your desktop and you can start trading right away with one mouse click only. This is very simple of course and the big advantage of a download platform.
We always suggest that you should go with a download platform unless there are very good reasons why you should trade with a webtrader. For example you might want to trade at your office and it’s not allowed to install any software there. Then a Forex webtrader is the right option for you.
Another advantage of a forex download platform is that you will have all the features and functions available that the software offers.
And the most popular trading platform, Metatrader is only available as a download version and not a webtrader. So if you’re familiar to Metatrader you have to go with a downloadable Forex software.