MetaTrader 5 (MT5) is a popular trading platform developed by MetaQuotes Software. The platform provides traders with advanced charting tools, flexible order types, algorithmic trading, and access to real-time market data across multiple markets, including Forex, stocks, indices, and commodities.
MT5 accounts offer two main options:
● MetaTrader 5 demo account - practice account with virtual money.
● Live (real) MetaTrader 5 account - trading account with real capital.
This guide will explore both options, from setting up an account to logging in, funding, and navigating. The information in this article is for educational purposes only and does not constitute financial advice. Please consult a financial advisor before making any investment decisions.
Open MT5 Demo Account
Open Live MT5 Account
Step 1: Choose a regulated broker that supports MT5
To use MetaTrader 5, you need a broker that offers the MT5 platform. However, not all brokers are created equal. Here are a few things to consider when choosing an MT5 broker:
● Regulated by reputable financial institutions.
● Transparent documentation of fees, spreads and commissions.
● Diversify your accounts with the ability to open demo and real accounts.
● Support and educational resources for both beginners and experienced users.
Quick Checklist for Choosing a Broker:
● Is the broker licensed in your jurisdiction?
● Is MT5 available on the device you want to use (desktop, web, mobile)?
● Are spreads and commissions clearly stated?
● Is there educational materials and customer support?
Step 2: Download and install MetaTrader 5
Once you have chosen a broker that offers MT5 demo and live accounts, download the platform. The process remains the same for both types of accounts:
1. Visit the broker's website
2. Navigate to their “Platform” or “Downloads” section.
3. Choose MetaTrader 5 for your device - Windows, macOS, Android, iOS or web browser version.
4. Run the setup and follow the on-screen instructions.
5. Launch MT5 and prepare to log in with your account information.
If you are a Mac user, please refer to your broker's instructions. Some brokers provide access to third-party software such as Exness, which allows you to run Windows applications on Mac OS.
MetaTrader 5 Platform Comparison
One click trading
User Experience Customizable desktop interface Streamlined browser interface Optimized for touch and mobile navigation
Desktop application usability Windows, iOS, Linux
(browser only)
(app only)
Step 3: Open a MetaTrader 5 demo account
An MT5 demo account is a useful way for beginners to practice trading. It allows traders to use virtual funds under real market conditions, giving them the ability to:
● Learn how to use platform tools like charting, placing orders and closing positions.
● Check strategy conditions, such as stop loss and take profit orders.
● Evaluate performance in a simulated environment to build confidence before moving to a real account.
Demo accounts provide a user-friendly, risk-free space to familiarize yourself with the platform’s features, such as placing orders, managing positions, and setting stop-loss/takeprofit levels. They also allow you to experiment with charting tools, indicators, and drawing features without investing real money. Furthermore, demo accounts allow traders to test their strategies using historical data, providing important feedback on their performance. This makes demo accounts an ideal choice for anyone who wants to learn, practice, and improve their trading skills before moving on to live trading.
How to open a demo account
1. Go to the broker's website and select the "Open new account" option.
2. Then select the platform as MT5 and the account type you want to use.
3. After opening the registration form, select the account type as “Demo” and enter the required information. Here you can customize the balance of the demo account.
4. After submission, you will receive login information such as demo password, account login ID, server name - via email.
Step 4: Open a real MetaTrader 5 account
Once you are familiar and confident with the demo environment, you can choose to open a MetaTrader 5 live account. This means trading with real money. However, live trading involves real financial risks.
How to open a real MT5 account
1. Log in to your client portal or Broker Dashboard.
2. Find the “Open new account” section, MT5 option and select the “Real” account type.
3. Complete the registration form
4. Once completed, the broker will send an email:
a. Real account login ID
b. Password
c. Server name
d. Deposit options
Step 5: Log in to your MT5 account
Whether it is demo or real, logging into MT5 is the same:
1. Open MetaTrader 5.
2. Navigate to File → Log in to Trading Account.
3. Select the server associated with your account (e.g. Exness-MT5Trial7).
4. Enter:
a. Login ID
b. Password
5. Click OK.
6. Once connected, your balance, equity and free margin will appear in the Trade tab.
Once logged in, you can view charts, place orders and track trades.
Step 6: Deposit/Withdraw funds from your real MT5 account
Once you have set up your account, you may want to deposit real money. Typically, the client portal or the exchange’s Dashboard will provide you with deposit and withdrawal options. These options include the deposit method (bank transfer, credit/debit card, e-wallet) and processing time. Some exchanges charge a deposit or withdrawal fee, and processing times may vary depending on the method used.
Step 7: Navigate the main MT5 platform
Now that your account is funded and ready, let's get familiar with MT5:
● Market Watch: Lists live instruments and prices of many assets.
● Navigator: Displays accounts, indicators, expert advisors and scripts.
● Toolbox: Displays tabs for Transactions, Contacts, History, News, Inbox, Calendar, Companies, Alerts, Articles, Codebase, Experts, and Logs.
● Charts: There are many different time frames, indicators, drawing tools and chart types.
● Order types: Including market orders (immediate execution), limit/stop orders, take profit and stop loss orders, trailing stop loss orders.
6 Tips for Demo Trading and Real Trading
1. Master MT5 with a demo account, start with virtual money to build confidence.
2. Gradually move to live trading, using small capital to understand the emotions of winning and losing.
3. Practice strong risk management by keeping risk low and always using stop losses.
4. Keep a trading journal to record entry/exit points, strategy performance and psychological lessons.
5. Educate yourself by watching webinars and reading educational articles.
7 steps to get started
Steps
Describe
1. Choose a broker Guaranteed regulation, transparent fees and support for MetaTrader 5.
2. Install MT5 Download from your broker, install on the device you want.
3. Demo account Practice with crypto to learn the platform and strategy.
4. Real account Sign up and verify to get login information.
5. Login Click on MT5 “Login to Trading Account” to access your account.
6. Deposit Use the Broker Dashboard to review deposit options.
7. Transaction View live charts and indicators on multiple assets to start trading.
How is MT5 different from MT4?
MT5 was developed as a more advanced and improved version of MT4, providing traders with the following additional features and capabilities:
● Asset Types: MT4 focuses primarily on Forex currency pairs and a handful of other CFDs. In contrast, MT5 expands its range to include Forex, stocks, indices, bonds, cryptocurrencies, and commodities.
● Order Hedging: While MT4 only allows one order per symbol, MT5 supports multiple orders on the same symbol and simultaneous Buy and Sell orders for hedging.
● Timeframes: MT4 offers nine timeframes, ranging from one minute to one month. MT5 offers 21 timeframes, providing more flexibility in analyzing price data; this is especially useful for technical analysis.
● Technical Indicators: MT4 comes with 30 built-in technical indicators for chart analysis. Meanwhile, MT5 offers 38 technical indicators and 44 graphical tools.
● Market Depth Data: MT4 does not have market depth data, but MT5 has this feature, allowing traders to see bid and ask prices at different levels in the order book.
Frequently Asked Questions
1. What is a MetaTrader 5 demo account?
MT5 demo account is a practice trading account funded with virtual money, simulating real market conditions, allowing you to practice strategies and test the platform's features.
2. How long is the demo account valid?
Many brokers offer demo accounts that have a certain validity period. For example, Exness' demo account has a validity period of 180 days.
3. How to open a real account on MetaTrader 5?
Sign up with a regulated broker and complete the verification steps. Download the MT5 platform and log in with your real account details. Deposit funds to start trading.
4. Can I use the same account on different devices?
MT5 accounts are compatible across Windows, macOS, mobile apps and web platforms. Your login details remain the same when you log in to the same trading account but on different devices.
