Along with the well-known MetaTrader 4, the US broker OANDA Corporation provides its own web-based and desktop forex platforms. In general, both platforms are intended for more advanced traders and their use is more complicated.
As the name shows, OANDA Web is a web-based platform and doesn’t require any download or installation. It can be loaded from any connected to the Internet computer.
The default background is white but customers can change color settings for most workspace objects. Charts are taken from TradingView. Above the chart window there are buttons for chart type, chart properties and indicators. Nearly 70 technical indicators are available, sorted alphabetically. The Full screen mode button expands the chart window for detailed view. Graphical objects are located vertically. There are 10 predefined time-frames but clients can create custom time-frames as well. The mouse scroll wheel can be used as a zoom tool, which is useful while selecting the desired view.
The instruments window (Rates) is next to the graphical objects bar. Instruments can be viewed as a list or panel and can be edited here. Orders can be placed from the rates window or the chart window by clicking on the traded instrument. They are fulfilled through the instant execution model. Stop-loss and take-profit values, trailing stop and pending orders can be defined in the New order window.
The trades window (Portfolio) is located on the bottom. Here the position can be closed or modified and the past trading activity can be viewed.
The Account details window is on the left side of the platform. Information about balance, margin levels and leverage can be found here. There also is a margin indicator informing about the account status. A value of 100% means closing of all positions (stop out level).
There is a toolbar at the top of the platform, consisting of the Technical Analysis, News, Market Pulse and Economic Analysis buttons. Each of them opens a new window in the web browser linking to the corresponding section of the company’s website.
All window can be hidden and the workspace can be rearranged according to customer’s preferences.