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The Basics of MetaTrader 5 Trading Platform

MetaTrader is a popular trading platform developed by MetaQuotes Software Corp., specializing in creating software applications for the financial markets. The primary aim of developing MetaTrader was to offer independence and flexibility to the traders and investors while participating in the financial market. The latest version of MetaTrader today is MetaTrader 5 (MT5), and it is being used across the world by thousands of traders every day. It has left its predecessor, MetaTrader 4, far behind in the race.

Though MetaTrader 4 is still being used widely by all kinds of traders, investors, and various financial institutions, it is expected that any MetaTrader 4 users will soon switch to this latest version. Why? MT5 has come with many new exciting features like the ability to customize chart periods, a built-in calendar, new chart objects, and indicators, support for additional instruments (for example, stocks, indices, bonds, commodities, and cryptocurrency), built-in NFA ruling compliance support and many more enhancements over the previous version. In short, MT5 has everything which was missing in the MT4 platform. It would not be wrong to say that MT5 has surpassed all expectations.

However, when making a switch to MT5, you need to ensure whether your trading system will be appropriate for MT5 or not. This is because MT5 handles orders much differently than its parent version. For instance, in MT4, you can open multiple orders on the same symbol, each with its lot size, order opening price, take profit, and stop loss. In contrast, with MT5, there is only one position open per symbol.

MetaTrader 5 is a multi-asset platform

MT5 is an institutional multi-asset trading platform that offers unique technical analysis tools, trading possibilities, copy trading, and automated trading systems. It is a comprehensive, all-in-one platform for trading stocks, indices, forex, and futures. Moreover, it allows you to stay active and browse your smartphones and other mobile devices while trading. This means you are free to trade 24 hours a day, anytime. Additional services add to the functionality of the MT5 and make its capabilities almost limitless.

Highlighting characteristics of MetaTrader 5

● Several order modes and automatic trading
● The ability to use up to 100 charts at a time
● The range of timeframes includes 21 types
● Simultaneous work on several exchanges
● Deep analytics with 79 instruments

Who should trade on MetaTrader 5?

Since the launch of this latest version of MetaTrader, there has been uncertainty among investors and traders. People are unsure whether to make a transition to MT5 or not. If you are also among the same group of people and wondering whether to switch to MT5 or not, set all your worries aside. MT5 is the best choice for both seasonal traders and experienced experts. Yes, you read it right! MT5 is designed keeping in mind the needs of both types of traders.

As a seasoned trader, you need top-notch quality, reliable, and highly stable platform good enough for everyday trading activities. And as an expert trader, you would need plenty of tools and functionalities that can help you perform daily trading tasks efficiently. Hence, MT5 is proficient for both the users who offer you analysis products and multiple tools and is also the most reliable and efficient trading platform.

Why trade using MetaTrader 5?

The first and foremost reason why more and more traders are getting attracted to MetaTrader 5 is that it is a robust platform available for free. Besides this, it is the safest and most secure trading platform having an end-to-end encrypted connection. From signing up to executing a trade and withdrawing money, MT5 offers the most secure platform. Furthermore, it is easy to understand and easy to access even while on the go. You can download metatrader 5 for pcs, smartphones, and tablets or launch the web platform

Julia

Julia A. Robert is an associate admin in Efogator Media Networks; she is the chief editor, website designer & customizer; a prolific content re-writer, she is in charge of all our guest posts.

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