MetaTrader 5 (MT5) is a trading platform that facilitates the trade of multiple assets including futures, stocks, and Forex. With its trading indicators and analysis tools, you get to experience more convenient trading. Automated trading is also present in MetaTrader 5 through signals as well as expert advisors. Before you start trading, it is recommended to know more about this trading platform and how you should deal with it to obtain continuous profit.
MT5 was released by MetaQuotes in 2010 following the steps of another successful trading platform also released by the same company, MetaTrader 4. With the same logo and almost the same basic appearance, MetaTrader 5 is being marketed to more advanced traders as it is boosted with all those extensive trading tools and indicators.
This trading platform allows the trade of multiple markets such as CFDs, Forex, Commodities, Cryptocurrency, and Stock Indices.
The MetaTrader 5 trading platform can be used for free and can be downloaded into your PC or get access from the web browser. It is applicable to Windows XP, 7,8, and 10 but can also be downloaded on Mac devices aside from MacOS Catalina. With 32-bit and 64-bit processors, the software is expected to run smoothly.
After you’ve downloaded the MetaTrader 5 trading platform into your PC, go to the login page and register a new account. There are some brokers who will ask you to verify your identity first before you can create an account as well as your risk appetite and trading objectives.
From the dashboard in your account, you can deposit funds and also make withdrawals. Every broker has a different payment deposit and other fees also depend on the provider and the method of trading you have chosen.
This trading platform has a total of 38 built-in indicators which includes;
- Pivot Points
- MACD-2 lines
- Volume profile
Aside from these indicators, you can also customize your own indicators and it is available at the Market or from the Code Base. There are also more than 100 price charts that are available on the trading platform plus it also has 21 timeframes that range from one-minute time frames up to one-month time frames. MetaTrader 5 is definitely ideal for traders of all kinds, whether they take on short-term trading positions or long-term trading positions.
Some of the most beneficial tools of MetaTrader 5 include the real-time stream of international financial news and the availability of an economic calendar. It also has a Depth of Market feature that allows you to see liquidity as well as one-click trading and a wide collection of historical market information like NSE stock data.
MT5 wants its user to have a unique experience, perfectly suited for their trading needs. This trading platform is well designed with customization in mind. It has custom indicators that can analyze price data after predetermined rules, scripts that can perform almost all functions present in the platform, and libraries that are made up of a collection of popular custom applications found in MetaTrader 5.