MetaTrader 5 Explained, small intro – Learn more now

MetaTrader 5 Explained, small intro – Learn more now.

MetaTrader 5, or MT5, is a popular trading platform for different markets. It has a retro look and is designed according to the all-in-one idea. Developed by MetaQuotes, MetaTrader 5 is a sequel to MetaTrader 4, not a replacement.

What is MetaTrader 5

MetaTrader 5 was developed in 2010 by Metaqoutes. With this trading platform, it is possible to trade not only forex but also on other markets. Compared to the MetaTrader 4 platform, launched in 2005, MetaTrader 5is much more advanced and comprehensive. With its 21 timeframes, 80 technical indicators, and 44 analytical tools, the platform allows you to perform extensive technical analysis of the markets. In addition, MT5 also offers a market where you can download 2500 ready-to-use instruments and apps as an extension of the platform. These and many more features the platform offers make it overwhelming for a novice trader. If you have a little more experience and want to trade more extensively, the versatility of MT5 can offer you the solution you are looking for.

If you are familiar with programming, in addition to knowledge of trading, you can create your templates and algorithms on the platform with the MQL5 code that the platform uses. The MQL5 programming language is easier to use than MetaTrader 4’s MQL4 because MQL5 has the same syntax as the popular C++ programming language.

To trade on MetaTrader 5, you must have an account with a CFD broker. Doing that first is useful because the broker usually offers its trading platforms automatically during the sign-up process. You can then choose MT5.

MetaTrader 5 demo account

With a demo account, you can trade with fake money on a live market simulation. In addition, you can become familiar with the MT5 platform. MT5 offers the option to open a practice account on the platform. You can start demo trading immediately by downloading the MT5 app or opening the platform on the desktop.

MetaTrader 5 download

To start on the MetaTrader 5 platform, you must first download the program on your device.

MetaTrader 5 manual explanation

Metatrader 5 provides a user guide for its users. The MetaTrader 5 user manual covers all the features of trading on the platform. It contains a lot of information about the platform’s features, such as help with Virtual hosting or an explanation of the market app store.
The MetaTrader 5 user manual provides a comprehensive explanation of many topics.

TIP* If you visit the MT5 website with Google Chrome, you can have the page translated into English. To do this, click on the small translation sign at the top right of the screen and then on English.

Which MetaTrader 5 brokers are there?

There are several brokers where you can trade through MetaTrader 5. Often, brokers have multiple trading platforms for you to choose from. You can then select the platform that suits you best. Pepperstone is a well-known broker that works with MetaTrader 5.

What can you trade on MetaTrader 5?

The MetaTrader 5 platform was created to be an all-in-one platform. Not only can you trade FForex, but other markets are also available. On MT5, you can trade:

• Forex
• Shares
• Raw materials

Expert advisors

Expert advisors (EAs) are programs with auto trading software. They are also called forex trading robots. These EAs can automate part of your trading strategy, saving you time. You can create expert advisors yourself with MQL5, but many existing programs are also available.

Expert advisors monitor one or more markets for you and know how to react to changes- provided you’ve adjusted it properly! When the conditions/indicators you have set are met, the EA will notify you. You can outsource the entire technical analysis to Expert advisors. They can even be set to open a position with, say, 2% of your total balance when a preset value is reached. For example, stop loss management can also be outsourced to an Expert advisor.

Trading with trading robots allows you to deal with fixed conditions. As a result, you do not make decisions based on emotion but always on the terms that suit your trading strategy. The many specific EAs available allow you to create your personal trading strategy. With its many settings, you can automate almost your entire trading campaign. However, continuing to monitor the software and possibly revise it is not wrong. There can always be changes that make the software work less well.