MetaTrader 5 (MT5) is an electronic trading platform developed by MetaQuotes Software for trading Forex, stocks, futures, and other financial instruments. Released in 2010, MT5 is the newest and most advanced version of the popular MetaTrader platform used by millions of retail traders and investors around the world.
MT5 provides traders with everything needed to analyze financial markets and execute trades from one convenient program. It includes advanced charting tools, technical indicators, backtesting capabilities for developing trading strategies, copy trading signals, algorithmic trading via Expert Advisors (EAs), and mobile trading apps.
Overall, MetaTrader 5 delivers a customizable, easy-to-use platform for both manual and automated trading across a variety of asset classes.
Features of MetaTrader 5
Some of the key features of MT5 include:
- Advanced charting with multiple timeframe analysis, 50+ technical indicators, and a variety of chart types such as candlestick, bars, lines, and Renko bricks. Chart templates help organize workspaces and graphs can be easily customized.
- Market depth information shows volumes and liquidity directly in the Market Watch window. Traders can see how much buying and selling interest exists at different price levels.
- Backtesting helps develop and optimize trading strategies by testing them on historical data. MT5 supports backtesting of manual strategies as well as expert advisors.
- Copy trading allows following signals from other successful traders automatically. Choose which traders to copy based on profitability, risk metrics, trading style and more.
- Built-in MQL5 programming language for creating automated trading systems, custom indicators, scripts, and alerts. MQL5 comes with an editor, debugger, profiler, and other tools for EA development.
- Mobile apps available for Android and iOS provide account access, trading capabilities, and alerts from anywhere. Seamlessly switch between mobile and desktop platforms.
Advantages of Using MetaTrader 5
There are many good reasons for traders to use MT5:
- All-in-one platform – no need to run multiple programs for charting, orders, news, alerts, etc. MT5 integrates everything into a single, convenient interface.
- Flexibility – trade the markets manually or use automation and signals for hands-free trading. Develop own strategies via MQL5 programming.
- Powerful analysis with abundant tools for understanding markets technically and fundamentally. Backtest ideas before risking real money.
- Scalability – start with a demo account, then open live accounts in the future. Change leverage easily based on risk tolerance and capitalization needs.
- Wide asset coverage – access to thousands of instruments across forex, indices, commodities, shares, and more through broker integration.
- Constant platform upgrades with new features added frequently by MetaQuotes to meet evolving trader demands in the marketplace.
- Trusted technology used by millions globally and supported by most brokers due to multi-year track record of stability and security.
Getting Started with MetaTrader 5
Downloading and Installing MetaTrader 5
First, download the MetaTrader 5 platform directly from MetaQuotes’ website or from a broker that offers MT5 integration. Install MT5 onto a Windows PC or run it using Wine on Mac/Linux. The installation process is fast and simple.
Next, open the program to access options, settings, tools, and account login credentials provided by the broker. Those without a broker account can request a free unlimited demo account to use the platform’s full functionality for testing purposes before committing real money.
Opening a Demo Account
Practice live market conditions using virtual funds with MT5’s demo account option. Configure a demo account within platform preferences:
- Open MT5 and click “File” then “Open an Account”.
- Select demo account type (standard, mini, micro, etc.)
- Customize account settings like currency, leverage, deposit amount.
- Review summary and open account.
The platform automatically populates $100,000 virtual money to fund the demo. Enjoy live tick data across instruments offered by the integration broker. Utilize demo benefits until ready to transition.
Customizing the User Interface
MT5 allows extensive interface customization so traders can optimize platform workspaces:
- Add/remove menu tabs based on needs and preferences.
- Adjust toolbar icons for one-click actions to tools.
- Build multiple chart layouts with saved templates for assets analyzed.
- Organize Market Watch lists by sector, asset type, region, etc.
- Customize graph colors, plot styles, price scales for clarity.
- Set quick trading defaults on symbol properties.
Save various workspace layouts to reuse efficiently.
Placing Trades on MetaTrader 5
Execute manual spot trades across markets using MetaTrader 5’s simple order types.
Market Orders
Market orders enter and exit trades immediately based on current asking/bid prices shown. To go long or short:
- Double-click instrument ticker or right-click chart → Trading tab
- Enter trade size in volume, lots, or equity amount
- Click Sell or Buy button
- Close by reversing position or using close features
Pending Orders
Schedule future trades upon price reaching desired levels using pending orders:
- Buy Limit – open long above current price
- Sell Limit – open short above current price
- Buy Stop – open long below current price
- Sell Stop – open short below current price.
Modify or cancel pending orders before triggering. Orders stay active until expiration per setup.
Close Positions
Close open trades manually or attach profit targets/stop losses to positions upon entry. Profit is realized between entry and exit prices. Choose from:
- Close Button – manually exits full position
- Partial Close – close section of position
- Stop Loss Order – automatic exit if price reaches predefined adverse level
- Take Profit Order – automatic exit if price reaches favorable level
CONNECTOR for MetaTrader 5
CONNECTOR is an innovative new software solution that seamlessly copies trades from Metatrader5 to leading exchanges like Binance, Kraken, and Kucoin or to online brokers such as Interactive Brokers. The key benefit CONNECTOR provides is enabling traders to execute technical and algorithmic strategies on the robust Metatrader5 platform while also allowing the positions to be mirrored on a separate exchange account in real-time.
Traders can fully backtest or automate expert advisors on MT5 using historical tick data and abundant indicators before running them live. Once ready, CONNECTOR copies every entry and exit on MT5 directly to the connected exchange account automatically. This saves significant development and testing time compared to building bots natively on exchange APIs. CONNECTOR works with both demo and live accounts and is currently available free of charge during initial launch. Looking ahead, pricing may be introduced but the tool promises to unlock powerful new cross-platform trading methods for seasoned traders and newcomers alike. Download the program from the official website
Analyzing the Markets with MetaTrader 5
Conduct technical analysis across markets using the versatile toolset available in MT5.
Charts and Technical Indicators
Visualize price dynamics over time using flexible 2D and 3D price charts. Apply indicators and overlay tools to derive market insights:
- Moving averages – gauge trend direction/strength
- MACD, Stochastics – momentum oscillators for spotting reversals
- Bollinger Bands® – measure volatility for relative highs/lows
- Fibonacci Retracements – identify support/resistance levels
- Chart Patterns – recognize formations signaling potential opportunity
Use crosshairs to inspect different points across a chart to make precise trading decisions.
Backtesting and Strategy Optimization
Develop systematic trading strategies with MT5’s Strategy Tester:
- Code rules via MQL5 or define conditions visually
- Apply strategies to historical data
- Optimize for input performance
- Verify strategy quality statistically
- Automate best performing systems
Evaluating strategies across historical periods simulates how they may perform moving forward.
Automated Trading with MetaTrader 5
MetaTrader 5 supports algorithmic and signal-based trading through two methods – Expert Advisors and Trading Signals.
Expert Advisors
Expert Advisors (EAs) are trading robots coded in MQL5. Steps to automate strategies via EAs:
- Code trading rules, logic, risk controls through MQL5
- Backtest EA thoroughly across historical data
- Run EA live on account to execute orders automatically based on strategy
- Monitor account and refine EA as necessary
EAs remove emotions and instill calculated trading based on historical performance.
Trading Signals
For traders seeking to leverage established strategies from others, MT5 supports Signal Trading:
- Browse systems created by top Traders in Market Signals tab
- Analyze performance through metrics like profit factor
- Subscribe with capital to authorize Signal Provider full account trading access
- Sit back as account mirrors Provider trades automatically
Choose signals aligned with risk parameters and trading style preferences. The account retains full control over exiting copying relationships.
Additional Tools and Features
Further enhance trading with MetaTrader 5’s advanced capabilities.
Economic Calendar
Schedule fundamental news events that impact markets like GDP reports, interest rate decisions, elections results directly in the platform. Actions:
- Add calendars filtered by category, region, release severity.
- Visualize pending events on the calendar.
- Enable alerts on high priority events.
Incorporate scheduled events into trading approach across automated and discretionary setups.
Market Depth Information
Assess liquidity and buying/selling pressure in the Market Depth window without indicators required. View aggregated volumes being bid/asked at incremental price levels beyond the spot quote.
Gauge intensity across prices revealing potential support and resistance areas. Incorporate depth reads into order flow analysis for timing entries and exits.
MetaTrader 5 Mobile Trading Apps
Manage accounts, open/close positions, modify orders and more on-the-go using native iOS and Android mobile apps synced to desktop accounts. Enjoy full functionality with an optimized interface for handheld touchscreens and tablets.
The mobile experience makes active trading feasible for traders preferring mobility. Stream quotations, tweak EAs, execute signal subscriptions without confining workspaces. Enter orders rapidly across devices.
Conclusion
In summary, MetaTrader 5 delivers a robust, all-encompassing platform solution for analyzing financial markets visually, developing systematic trading systems, and managing trade execution manually or through automation.
MT5 bridges advanced functionality, customization, and mobility to meet modern trader demands. The all-inclusive feature set explaining its popularity and broker support globally as retail trading continues transitioning to electronic venues. From backtesting concepts to practice in live market conditions, MT5 provides the tools to elevate trading consistently across devices.
