Beginners Forex Education Forex Trading Platforms

Overview of MetaTrader 5

MetaTrader 5 is an online electronic trading platform, it is often referred to as MT5 for short. Designed as an institutional multi-asset platform, it offers the user a wide range of trading possibilities and technical analysis tools, it also enables the use of automated trading systems (known as robots or expert advisors) as well as copy trading from signals. The MT5 platform was released to the public in 2010 and has been steadily growing in popularity ever since, it now stands as one of the major trading platforms along with its older counterpart, Metatrader 4.

MetaTrader 5 was designed as a Windows-based platform and so comes in the form of a windows application, there are ways to get it to work on other operating systems such as Mac OS or Linux, but it is not natively supporting on those operating systems. The platform is also available as an application on both iOS and Android devices, as well as a WebTrader that can be accessed from any modern web browser.


MetaTrader 5 Features

Overview: The MetaTrader 5 platform comes with a whole host of available features, as a brief overview these include things like partial order filling, multiple fill policies, six different order types, depth of market view, 38 built-in technical indicators, 44 built-in graphical objects, 21 different timeframes, a built-in the economic calendar, as email system (with attachments), the ability to transfer funds between accounts, chat, a strategy tester, multilingual code, supports netting accounts, hedging is ok, an unlimited number of symbols supports Forex, Futures, Options, Stocks, and Bonds, and it also supports exchange trading.

The MetaTrader Market: The MetaTrader Market offers thousands of different expert advisors, indicators, and trading signals to users of MT5. The market can be accessed directly within the MT5 platform, making it quick and easy to get anything purchased up and running quickly, it will also ensure that things are compatible with the platform. You are able to purchase items outright, rent them for a certain time period, or download them absolutely free.

Trading Signals: MT5 has a built-in signal service, you can view and purchase a number of different signals and your MT5 platform will copy them directly into your account, you can view the detailed stats and history of each available signal, so you know exactly what you will be getting. All signals are constantly monitored and any that are not showing satisfactory results, will not be shown to the public for rental or purchase.

Mobile Trading: Trading on the go could not be easier, it is made possible through the use of iOS and Android devices which can easily be purchased and downloaded within the respected platforms application store. The mobile platform supports two position accounting systems (netting and hedging), features Market Depth, and all types of trade orders. The mobile application enables professional technical analysis through the built-in set of indicators and analytical objects. You can also control your account, monitor the history of your trades, buy and sell currencies, and exchange securities with just a single click.

WebTrader: MetaTrader 5 also comes with the popular WebTrader platform. You can load it up within your compatible web browser (any modern one will work) and then trade on your live or demo account. There are some limitations such as the number of indicators and you cannot use automated trading with it, but it is a good tool to check your accounts and trades should you be away from your usual place of trading.

Automated Trading: The MT5 platform offers a host of features that allow you to trade automatically, these are mostly performed by Expert Advisors that use technical indicators to look a the markets and will then enter and exit the markets based on the set parameters. The MetaEditor which is built into the software allows you to design and develop your own trading robots as well as test their compilation and performance.

Indicators: MetaTrader 4 has been designed to work with many different indicators and there are new ones appearing every single day. The marketplace offers over 3,000 indicators that you can purchase, rent, or download for the platform. Technical indicators that incorporate things like Fibonacci Levels, RSI, Bollinger Bands, Moving Averages and more are available, whatever you are looking for, it should be available to download.


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