Web Platforms

ParagonEX Trader

ParagonEX Trader is an online platform for forex and CFDs trading, developed by the software company ParagonEX Limited. It was founded in 2007 in the United Kingdom and since 2012 operates as a subsidiary of Forex International Trading Corp., which has changed its name to Gopher Protocol Inc. in 2015. This article describes the demo version of the Trade360 web platform, based on the ParagonEx Trader.

The main workspace is simple, showing added instruments sorted by popularity. They can be arranged alphabetically, by daily change or volatility. Each of them is displayed in a box that provides information about high, low, daily change, buy and sell price buttons, spread and the customer sentiment as well.

Below the name of the instrument a mini chart is shown. Clicking on it opens a new chart window in the internet browser, where more features are available. It can be maximized or resized. Charts show the average value between buy and sell prices that should be considered when pending orders are placed. Price and time bars can be changed by drag and drop of the mouse pointer and the mouse scroll wheel has the zoom function.

There is a settings bar at the top of the chart window. Instrument’s chart can be displayed as candlesticks, lines, Heikin-Ashi, bars and dots. Twelve time-frames are available – from tick to 1 month. The next button shows the graphical objects menu containing trend lines, support/resistance lines, trend tunnels and Fibonacci retracements. There are more than 50 indicators, alphabetically sorted. Customers can activate the crosshair or view the chart in full screen.

Market orders are fulfilled from the instrument’s box by clicking on the buy or sell buttons. Following the execution, take profit and stop loss orders can be attached to the open position. They can be placed as a price value or as an amount of the base account currency. Pending orders are placed by clicking on the ‘Place your order’ button at the bottom of the instrument box. Two icons appear informing about the maximum amount and the minimum distance that the pending orders can be placed at. The margin calculator shows the necessary margin when entering the quantity. The trade bar appears only when there are active open positions, freeing more workspace.

Clicking on the square button at the bottom right corner of the box shows detailed information about the instrument and client’s positions on it. The chart window is integrated here and traders’ sentiment (percentage of sellers and buyers) is shown as well.

The latest version of Trade360 web platform incorporates so-called CrowdFeed bar that shows opinions and deals of other traders and published financial news. There is a button on the left side that opens an economic calendar in the broker’s website.

Add Comment

Click here to post a comment