Review MetaTrader 5 - MT5

MetaTrader 5 is a multi-asset, multifunctional, institutional trading platform. Although it hasn't garnered as much popularity as MetaTrader 4, MetaTrader 5 allows trading in stocks and commodities, unlike MetaTrader 4 which focuses on the forex market.

Available in web, online, and mobile versions, it also offers additional services such as integrated trading robots, independent database of strategy developers, trading copy, and virtual hosting service. The platform's interface has been translated into 31 languages and is free through their broker.

Best For

• Advanced traders

• Day traders

Pros

• Easy-to-navigate interface

• A comprehensive suite of analytical tools

• Allows 8 styles of pending orders and 21 timeframes

• The breadth of asset classes

• Economic calendar, that is supplied as a part of the platform

Cons

• Forex market hedging is disabled

• A MetaTrader 4 user may need to relearn some techniques as these two platforms use different programming languages

• Advanced tools and features can be intimidating for a beginner

Who is MetaTrader 5 For？

Advanced traders. MetaTrader 5 multifunctional and multi-asset platform is more suitable if you are an advanced trader. It allows you to work with multiple accounts at different brokers. The platform provides price data and allows the use of a special type of non-tradable assets. Like physical gold to provide a margin for open positions of other instruments and create custom financial symbols.

Day traders. Day traders need a trading platform that is fast, robust, reliable, and powerful. MetaTrader 5 meets all criteria.

MetaTrader 5 Platform and Tools

MetaTrader 5 offers desktop, web, and mobile versions of the platform. The desktop version offers superior tools for comprehensive price analysis, algorithmic trading applications by trading robots or Expert Advisors (EAs), and trading copies.

The MetaTrader 5 platform uses the MQL5 language, the automated trading software that runs on your computer and performs trades for you. It can perform a variety of functions such as tracking financial symbols 24/7, copying transactions, creating and sending reports, analyzing messages, and even providing a specific custom graphical interface.

You can robotize your successful trading strategy as the platform provides the entire development environment to create and optimize your own EA. Alternatively, you can choose from several ready-to-use EAs that can be downloaded for free from the Code Base, or buy or rent from MetaTrader Market, the largest shop for ready-to-use trading applications. You can also request custom applications from professional developers by using the standalone service.

The Copy Trades feature allows you to subscribe to signals from successful traders, making it easy to automatically replicate all trades in your account. Hundreds of free and paid signals are available for demo or live accounts.

The MetaTrader 5 platform supports the traditional clearing system for forex markets, such as the stock market and the options market, as well as the hedging options system for the forex market. It allows 4 execution modes: instant, request, market, and exchange execution as well as 2 market orders, 6 pending orders, and 2 stop orders.

The platform allows you to open 100 forex or stock charts at the same time, and the 21-time frames allow for a full and detailed analysis of even minor price movements. It also offers 80 technical indicators and 44 analytical objects including Gann, Fibonacci tools, geometric shapes, and various channels.

MetaTrader 5 gives essential evaluation which monitors diverse financial and commercial indicators. The platform contains information reviews from global information businesses and additionally sports activities and financial calendars.

MetaTraders cell buying and selling platform are to be had for Android or iOS for your phone or tablet. The cell model helps the whole set of buying and selling functions, permits tracking of account repute and viewing of buying and selling history, amongst different things.

MetaTrader 5 Compatibility

The MetaTrader 5 platform runs on Windows 2008, 7, 8, or 11 and requires an SSE2 compatible processor; Pentium 4/Athlon 64 or higher. The platform can also run on Mac OS with Wine, a free, open-source software application that allows applications designed for Microsoft Windows to run on Unix-like operating systems. Note:

It is recommended to use the open-source software PlayOnMac, free software based on Wine that simplifies the installation and use of Windows applications on Mac OS.

To run MetaTrader 5 on the Unix operating system, the trading platform can be installed and used on computers running Ubuntu with Wine.

To access the mobile platform, you can download MetaTrader 5 for Android from Google Play, connect to your broker and start trading. For iPhone/iPad, the mobile version of the platform can be downloaded from iTunes or the AppStore.

The app runs on iPhone 4S or newer, iPad 2 or newer, and iPod Touch 5 or newer. iOS 8.0 or a later version of the operating system is required.