Key Highlights

MT5 supports the advanced MetaQuotes Language 5 (MQL5), which is the main programming language used in the development of finance-based applications. Its top features include:

• EA functionality
• One-click trading
• Multi-asset trading
• News streaming
• Inter-account funds transfer
• Built-in MT5 guides 
• Trading history information 

What is MT5 ?

MetaTrader 5 (MT5) is touted as an advanced, multi-asset trading platform by MetaQuotes. Built on the widely popular MT4, this platform is designed for trading stocks, Forex, Futures, and commodities. And while its predecessor was mainly optimised for forex trading, this new build covers a broader range of classes, including cryptocurrencies. 

The MT5 is, thus, a multi-asset platform designed with the modern trader in mind. You can use its built-in features and highly practical tools and resources to enhance your trading experience, including being able to trade from any location in the world. The MT5 supports copy trading, trading signals, and even trading robots.

MT5 Features 

MT5 supports the advanced MetaQuotes Language 5 (MQL5), which is the main programming language used in the development of finance-based applications. MQL5 is based on C++ programming and has a faster development cycle than MQL4. Based on this, it’s possible to create the following items on an MT5 platform:

• Libraries: They refer to a set of custom functions that have been designed to aid in storing and distributing parts of custom apps commonly used in MT5.
• Expert Advisors: These are also called EAs, and they’re programs that enable traders to use automated trading strategies in the FX markets.
• Scripts: A script is an application that you can program in order for it to perform a certain function on the trading platform. An example can include deleting all indicators on a trading chart. 
• Custom Indicators: Besides providing a set of built-in indicators, MT5 allows savvy traders to create their own tools to help them perform predefined analytical conditions. 

Ways to Use MT5

Remember when I mentioned that you could trade from any location with MT5? That’s exactly what I meant. Since I started using this platform to trade, I can honestly say that I have found it much easier to place and track my trades as I no longer have to do so from a central location. And as you’ll see below, there are numerous ways to use this platform depending on what you prefer. 

The only thing I will stress is that you train yourself on how to use the integrated Reuters news feature and the automated trading with EAs for a more seamless experience. With that out of the way, let’s now look at the different ways that a modern trader like you can use the MT5 platform.

1. MT5 for Desktop

If you want to experience everything that this platform has on offer, there’s no better way to do it than via your desktop. The MT5 for desktop comes with all the tools and indicators you need to place successful trades, and is currently the only way a trader can use to access the EA section. 

You’ll also get to experience the following in the MT5 for desktop:

• Expert Advisors: The EAs matter because they allow you to take advantage of fully fledged development and testing environments and algorithms. With this, you can set parameters that will automatically trigger trades and orders when certain conditions are met. 
• MetaTrader Market: Want to automate your trading or even try out new technical indicators? Make sure to check out the MetaTrader market. Here you’ll find over 2,000 technical indicators and 950+ trading robots all waiting to be tried out. 

2. MT5 for Web

The MT5 for web enables you to access the FX markets from any operating system or web browser. It comes with advanced trading tools and analysis that include:

• Secure and Reliable Data Protection: You can enjoy increased peace of mind when trading, knowing that the MT5 will secure all your sensitive trading and login information. 
• Advanced Charts: Advanced traders will love this feature as it allows them access to 21 timeframes and graphical objects, e.g., shapes and Line Studies, and 38 technical analysis indicators. 

3. MT5 for Mobile

Do you love trading while on the go? Now you can, thanks to the MT5 for mobile. This new platform enables you to have complete control of your trading account, no matter whether you use an Android or iOS mobile phone. Its top features include:

• One-tap Trading: Traders who wish can accelerate their order execution process by clicking on the one-tap trading button. Please note that this means that you don't have to confirm your orders a second time. 
• Packed with Tons of Tools and Features: Just because you’re trading on a smaller device doesn’t mean that you need to worry about a lack of tools. With the MT5 for mobile, you get access to 38 technical analysis indicators, 46 analytical objects, and free integrated email and chat. 

MT5 Order Types 

MT5 at present only supports two order types: Pending orders and Market orders. 

• Pending Orders: It refers to an order to purchase or sell an asset at a predetermined price point in the future.
• Market Order: It’s the opposite of the pending order and refers to an order to buy or sell a certain asset at the prevailing price. In such a case, your order will be sold/bought in real time. 

Please note that the number of pending orders available on each MT5 platform will vary from one trading firm to the next. So, please do your research properly before registering with any trading company. 

Market Analysis with MT5

Technical Analysis

It’s one of the important factors of trading financial assets on an MT5 platform. Technical analysis enables you to identify potential price patterns that are likely to play out positively in the coming days. The MT5 platform offers a suitable environment for this on a variety of assets. For starters, you have 21 timeframes, 38 technical indicators, and 44 graphical objects to get you started.

And this is not forgetting the ability to include unlimited charts in your trading space. 

If you’re still getting your feet wet in the world of online trading, you should note that indicators are a form of mathematical tools. Traders use them to get a better understanding of price action. On the MT5 platforms, these indicators are applied automatically, and they are classified under various groups. Each group indicates the area where they should be applied. Examples of these include:

• Trend
• Volume
• Oscillators
• Custom indicators 

The graphical objects we mentioned above are applied manually and will typically include different tools such as Elliot, Gann, and Fibonacci tools. If you wish, you can also add tools of your own to this platform.

Fundamental Analysis 

Fundamental analysis is a bit different from technical analysis as it seeks to study how various political, social, and economic factors can impact the supply and demand of various assets. The MT5 has now made it easier than ever before to perform a real-time fundamental analysis. 

Some of the built-in tools that you can access straight from this platform are:

• Financial News: Here you’ll find a stream of all major political and economic news sourced from leading news agencies.
• Economic Calendar: It will help you to track the real-time releases and forecasts of major political and economic news that are predicted to have an impact on FX financial assets. 

How to Trade with MT5

Before you can experience the full power of the MetaTrader 5 platform, there are a few things that you’ll need to do. These are as follows:

1. Learn About Everything This Platform Offers

In this guide, I have done my best to mention everything you can expect once you begin trading on the MT5. But I have to be honest and say that I have only touched on a few. As a trader, you have to take it upon yourself to learn all its intricacies to ensure you’re equipped to take maximum advantage of it. Some of the things to look into include its asset class types, graphical objects, and so forth.

It’s only by educating yourself on its inner workings that you can fully comprehend the power of the MT5. Make sure you take advantage of the educational videos and friendly eBooks available on this website {Link to the resources section on Audacity Capital} to learn in detail how to trade different assets. 

2. Download and Install 

For every trading platform you find online, you’ll note that it has a set of minimum requirements you need to meet. These requirements are in place to guarantee that the MT5 will work optimally on your PC and include the following:

• Windows 7 OS or higher (64-bit system recommended)
• Pentium 4 or higher
• Heavy users (especially those who are keen on using multiple EAs) should consider installing more advanced hardware configurations. 

Once you’ve confirmed that your PC meets these requirements, visit our resources section to learn how to install and configure your MT5 platform. 

Conclusion

MT5 is an advanced trading platform where traders get to take advantage of a cutting-edge marketplace for a more seamless experience. This marketplace features top-of-the-line tools such as Trading Signals and Expert Advisors. And unlike its predecessor, the MT5 enables you to follow professional traders, automate complex strategies, copy trades, and optimize your performance. One of the places where you can learn more about the MT5 and its benefits is at Audacity Capital. 

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