CMS Forex has finally launched VT Trader 2.0, its long-awaited upgrade to VT Trader.  For MetaTrader 4 users, VT Trader 2.0 presents a different type of user interface, which features trading directly from a chart.  A user can point and click to open or close positions; drag and drop to move stop and limit orders; and zoom in or out to view overall trends.

The platform comes with more than 100 technical indicators in addition to an Indicator Builder tool which enables traders to build their own indicators from scratch or modify existing ones.

InterbankFX supports a chart pattern recognition tool called AutoChartist which runs separately from IBFX's MetaTrader platform, but VT Trader 2.0 has chart pattern recognition technology integrated into the platform.

By default VT Trader 2.0 includes a number of automated trading systems. However, the built-in Forex Autopilot technology automates traders' strategies by enabling them to setup Forex trading strategies and automaticaly generating trades based on those systems. Once a trading system is configured, VT Trader 2.0 will automatically open and close positions at specified parameters. These parameters can include price levels, moving average crossovers, and even technical indicator levels.

For MT4 traders, the VT Trader 2.0 platform certainly has a different look and feel.  It has so many options and ways to configure the platform and so much information on the desktop that it could be confusing for some traders.  However, the folks at CMS added, not only floating and/or dockable windows, but also the ability to hide windows when they are not in use - a useful feature if all you want to focus on is the chart.

One additional feature that I really like, especially for the novice traders I tutor who think in dollars and not in pips, is the ability to place orders on monetary values rather than currency prices. The platform allows the trader to set stop and limit orders based on their monetary profit target and maximum acceptable loss without the need to set specific target prices. For example, a trader can tell the system that the maximum loss they are prepared to incur is $200 and their profit target is $500. When the trader clicks to enter the order the limit and stop orders are set.

Taking everything into consideration, I really like this platform. Again, being an MT4 junkie, it would take me a while to adjust to the new interface but I just might give it a test drive.  A tutorial video is available on CMS Forex's website.