Along with the well-known MetaTrader 4, the US broker FXCM Group has developed its own forex platform called FXCM Trading Station. Platform is available as desktop and web-based versions.
The web-based platform looks like the desktop version. It can be launched on every computer with an Internet connection and doesn’t require any download or installation.
When logging into the platform, the default workspace is loaded. Initially, there are four windows that can be resized and the tabs inside them can be moved and placed as a new window. The upper left window consists of two tabs – Advanced Dealing Rates and Simple Dealing Rates.
The Advanced dealing rates tab represents the instruments as cubes. Each cube shows time, daily low and high values, spread and Buy and Sell buttons. Like in the desktop version, clicking on a cube opens a ‘Create Market Window’ where the customer can set order properties, including attached to the order take-profit and stop-loss levels. Right click opens a context menu, allowing all types of orders to be placed. Simple dealing rates tab represents all instruments properties in rows.
Open positions are shown in the ‘Positions’ window, at the bottom left. They can be modified and closed here. The Summary tab, showing the deals information is located here as well. All pending orders are displayed in the Order window at the bottom right.
The window on the top right side is organized in tabs for charts, news, messages, accounts and closed positions. Subscriptions and newsfeeds can be managed from the News tab. Information about Equity, Profit/Loss and Margin can be found in the Accounts tab.
There is a main menu bar on the top of the workspace where the platform properties can be adjusted, such as password, language and layouts. Customers can choose which windows to be viewed, default layout or can create orders from the Trading menu. New chart can be created from the Charts menu.
Charts can be viewed in 14 time-frames – from tick to 1 month. Customers can choose between bid and ask price to be shown. Charts can be displayed as candlesticks, bars or lines. Graphical objects include trend lines, vertical and horizontal lines and Fibonacci retracements. There are more than 50 indicators that are arranged in groups.
The trading menu bar is located below the main bar and contains the most used buttons such as Buy, Sell Stop/Limit, Entry, Trading Settings and Reports. Customers can select one-click trading from the Trading menu. Once the order parameters are set into the cube, opening of positions is only one click away.