Think of MetaTrader 5 as your gateway to the world of trading, offering an unparalleled suite of tools and features designed to flourish your trading experience.
Whether you’re a seasoned professional or just starting your trading journey, MetaTrader 5 provides everything you need for successful trading. Keep reading to learn about MetaTrader 5 features and why it should be your go-to platform for all your trading needs.
What Is MetaTrader 5 (MT5)?
Having the right software to connect you to the global financial markets like the forex market, is essential to embark on your trading journey. Many of you are familiar with MetaTrader 4, a renowned platform known for its robust set of trading tools. However, the trading world has evolved, and so has the technology supporting it. Enter MetaTrader 5 (MT5), the next-generation platform that surpasses its predecessor by offering even more advanced features, enhanced performance, and greater flexibility. Whether you are looking for comprehensive charting features, sophisticated trading algorithms, or real-time market analysis, MetaTrader 5 is the all-in-one solution that meets the needs of both novice and experienced traders.
MetaTrader 5 Key Features
Here are the remarkable features of the MetaTrader 5 platform:
Market Access and Trading
- Multi-Asset Trading: MetaTrader 5 offers access to various financial markets, including forex, stocks, futures, CFDs, etc.
- Market Depth: With market depth, you can view and analyze prices and liquidity from different liquidity providers.
- Six Types of Pending Orders: Compared to MT4, which offers four types of pending orders, the MT5 platform provides you with six types of orders, including Buy Limit, Sell Limit, Buy Stop, Sell Stop, Buy Stop Limit, and Sell Stop Limit to enhance trade management.
Advanced Technical Tools
- Technical Indicators: To analyze the market technically, you can apply over 80 types of technical indicators, such as moving averages (MA), Bollinger Bands, MACD, and more. Additionally, the MT5 platform allows you to create your own technical indicators and analytical tools.
- Analytical Objects: There are various analytical objects, including trend lines, channels, and geometric shapes, as well as Gann, Fibonacci, and Elliott tools.
- Supporting various timeframes and charts: Additionally, the MT5 platform also supports 21 timeframes and an unlimited number of charts.
Fundamental Analysis
The MetaTrader 5 platform can be integrated with economic calendars, which are crucial for fundamental analysis.
Algorithmic Trading
With Expert Edvisors (EAs), you can use automated trading. This means that automated trading robots will execute trades on your behalf.
Trading Community
- Advanced Communication Tools: The MT5 platform’s built-in advanced communication tools enable you to receive messages from brokers and news updates and communicate directly with other traders within the platform.
- MQL5 Community Integration: The platform provides access to code bases, articles, and trading signals from a large community of traders.
- Web and Mobile Versions: In addition to the desktop application, MT5 is available in web and mobile versions, allowing you to access your accounts and trade from anywhere in the world. You can directly download the platform from ITB’s website based on your trading device.
Metatrader 5 vs MetaTrader 4
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are two popular trading platforms developed by MetaQuotes Software. While both platforms are widely used for trading in financial markets, they have several differences. Below is a full comparison of MetaTrader 5 vs MetaTrader 4:
- Release year: The initial version, MetaTrader 4, was released in 2005, while the next version, MetaTrader 5, a more feature-rich platform, was launched five years later, in 2010.
- Order types: MetaTrader 4 allows you to place four types of orders, including limit and stop orders. However, MetaTrader 5 introduces two additional advanced order types: buy stop-limit and sell stop-limit.
- Hedging: In forex trading, hedging involves opening opposite positions to reduce the risk of loss from other positions. Both MetaTrader 4 and MetaTrader 5 allow you to use hedging strategies to manage your risks and to protect your investments.
- imeframes: When comparing MetaTrader 5 and MetaTrader 4 regarding timeframes, MetaTrader 4 supports 9 types of timeframes, whereas MetaTrader 5 provides 21 types of timeframes.
- Technical indicators: Regarding technical indicators, MetaTrader 4 offers 30 indicators, while MetaTrader 5 allows you to use up to 38 indicators.
- Economic calendar: One of MetaTrader 5’s newest features is an economic calendar, which was unavailable in MetaTrader 4.
- Depth of the market: Another new feature in MetaTrader 5 is a specific section designed to show the depth of the market.
How to Download MetaTrader 5 for Windows
To download MetaTrader 5 for Windows, visit the official MetaTrader website and click the download button at the top of the website.
How to Download MetaTrader 5 for Android and iOS
If you are using devices with the Android operating system, you can easily download MetaTrader 5 for these types of devices from Google Play.
On the other hand, those using iOS devices can download MetaTrader 5 from the Apple store.
How to Use MetaTrader 5
To start using the MetaTrader 5 platform, you’d better create an account with a safe and reliable broker. ITB Broker is one of the trustworthy options available that you can easily start working with the MT5 platform.
Here is a simple process to get started with the MetaTrader 5 platform:
- Download and Install the MetaTrader 5 Platform: Visit the official MetaTrader 5 website or the website of your chosen broker, such as ITB Broker, to download the installation file. You can download the MT5 platform, as we explained above.
- Connect Your Account: After installing the platform, open the MetaTrader 5 platform on your device, click on the ‘File’ menu at the top, and select “Login to Trade Account” or “Open an Account”.
- Enter Account Details:
- In the login window, enter ‘International Trading Brachium’ in the ‘Server’ field, as shown in the picture.
- Enter your account number and the password you chose when creating your account.
By following these steps, you will be connected to the MetaTrader 5 platform and ready to start trading. Make sure to double-check all entered information to avoid login issues. If you encounter any problems, you can refer to your broker’s customer support for assistance.
The Bottom Line
All in all, MetaTrader 5 is a highly advanced trading platform that surpasses its predecessor, MetaTrader 4, by offering a comprehensive suite of tools and features. It provides access to multiple financial markets, advanced technical and analytical tools, and sophisticated trading algorithms. Additionally, it offers enhanced market access with market depth and more types of pending orders compared to the MetaTrader 4 platform. Available in desktop, web, and mobile versions, MetaTrader 5 caters to the needs of both novice and experienced traders.
While Metatrader 5 offers a lot of features and is easy to use, it is always a good idea to stick to the trading platform offered by your broker. In fact, some brokers like ITBFX have their own trading platform which could be more suited to their customer requirements.
MetaTrader 5 offers several improvements over MetaTrader 4, such as access to a broader range of financial markets (forex, stocks, futures, CFDs, etc.), six types of pending orders compared to four in MT4, 21 timeframes versus nine in MT4, 38 technical indicators compared to 30 in MT4, and the inclusion of an economic calendar and market depth analysis.
MetaTrader 5 allows you to place six types of pending orders: Buy Limit, Sell Limit, Buy Stop, Sell Stop, Buy Stop Limit, and Sell Stop Limit.
Yes, MetaTrader 5 is available on the web, desktop, and mobile versions, allowing you to trade anywhere.
If you are using devices with iOS version, you can directly download the application from the Apple Store and start your trading journey.
Submit Your Comments
(Replying)
Please keep in mind to avoid offensive keywords and also fake information.
Be the first one to comment.