In this article, we will guide you step by step and answer all the important questions, including how many accounts you can have, what system requirements you need, and how to install MetaTrader 5 on multiple devices. You will learn how to open an MT5 trading account and what to look out for.
What is MT5?
MetaTrader 5/MT5 is MetaQuotes’ next-generation trading platform, the successor to the popular MetaTrader 4 (MT4). MT4 was optimized for forex trading, but MT5 is functionally designed to handle a wider range of assets, including cryptocurrencies. MT5 is the ideal multi-asset platform for modern traders who want to enhance their trading experience with powerful new features and highly practical trading tools and resources. Exness offers traders the powerful MT5, allowing them to trade a wide range of assets, including currencies, stocks, commodities, indices, futures, energies, and cryptocurrency CFDs, with flexible leverage, no requotes, no price rejections, and no slippage.
The main advantage of the MetaTrader 5 platform is that you can trade from anywhere, on your smartphone or tablet. This is done through the MT5 web platform, which allows you to trade the assets of your choice from any web browser and on any device. In addition, the MT5 platform also offers trading robots, trading signals, and copy trading. All of these powerful features can be accessed from a single trading platform.
With MT5, traders can use different time frames on as many charts as they like. Have you ever wanted to test your trading strategy on a 12-minute chart, but were limited by MT4's time frame options? Switching to MT5 is a great choice for flexibility, as MT4 offers 21 time frames and minute-by-minute price history.
How to open a real account on MetaTrader 5
Follow these simple steps:
1. Register with MetaTrader 5 broker
● The first step in setting up an MT5 trading account is to find and choose a Forex broker that offers the MetaTrader 5 trading platform.
● Go to the website of the chosen broker and click “Register” or “Create Account” on the home page.
● Fill in the information in the registration form. Usually: email/phone number, create a password.
With so many options, choosing a trustworthy broker can be a challenge. Make sure you do your research. Exness is one of the best brokers out there.
Our advice is to sign up with the best MetaTrader brokers and start trading with low spreads and commissions.
Choose a reputable MT5 broker through the following criteria:
● Which agencies or organizations regulate brokers? How influential are these agencies or organizations in the world?
● What are the spreads and commissions? Consider the overall cost factors. Note that commissions are considered for both opening and closing orders.
● What is the minimum and maximum leverage.
● Are there free bonuses? Sometimes reputable brokers don’t need to use bonuses to attract clients.
● Are the account types optimal for your portfolio? For example, if you only trade major currency pairs, especially scalping, you should open Exness' Zero account because this account has 0 spreads 95% of the day on major currency pairs such as: USD/JPY, GBP/JPY, EUR/JPY and EUR/USD
2. Open an MT5 account in your broker's dashboard
The steps to open an MT5 account in the broker's dashboard are as follows:
● Log in to the broker's website
● Find and select “Open new account” or “Open additional account” in the “My account” or “Accounts” section
● Choose the type of account you want to open (there are many types of accounts, each type of account will show parameters: initial deposit, minimum spread, maximum leverage, commission so you can choose the right account)
● In the new account opening settings, find and select “Platform” as MT5.
● Complete the setup information for MT5 account such as: leverage, base currency, MT5 login name, MT5 trading password and click the create account button
So you have created an MT5 account for trading. If you want to create another MT5 account, follow the same steps as above. Because a personal area can have many real or demo MT5 accounts.
How to trade on MT5
Here's what you need to do to trade on MetaTrader 5:
1. Study
2. Download and install 3. Deposit
4. Transaction
1. Learning
As mentioned, MetaTrader 5 is packed with a wide range of features and trading resources designed to enhance your trading experience. It is important to familiarize yourself with all of the features and their suitability to ensure you are fully equipped to take full advantage of the platform’s functionality. From the seven available asset classes, numerous trading tools, indicators and graphical objects, to the six different
order types, multiple automated strategies and in-depth market analysis, you can get the most out of the MT5 platform if you take the time to learn more about all of the features available on this intuitive platform.
Brokers also have a wealth of educational materials specifically related to the MT5 trading platform, which are available for free under the “Education” section. Be sure to take advantage of the useful and easy-to-use e-books and videos that explain in detail how to effectively trade financial assets online.
2. Download and install MT5
MT5 is available for download on desktop, web browser, smartphone and tablet.
With MT5 web browser, you just need to open a broker's website link to log in and trade.
MetaTrader 5 for Desktop
To download and install MT5 on your computer, follow the instructions below:
● Log in to the broker's website
● In the “My Accounts” or “Accounts” section, click “Trading” on the MT5 account you choose to trade. Then select “MetaTrader 5 - Download and Install Trading Platform”
● Click on the MetaTrader 5 download link
● Run the MT5setup.exe file
● Enter your real account login information
● Start Trading
Install MetaTrader 5 on your computer to start trading stocks, forex and futures. Now you can enjoy exciting services such as copy trading, automated trading, diverse trading features, technical and fundamental market research and much more absolutely free!
For modern forex and stock market traders, MetaTrader 5 offers a wide range of features:
● Trading orders allow flexible trading of stocks, currencies and other securities
● Netting and hedging are two methods of calculating orders.
● Multiple charts, each with 21 timeframes and up-to-the-minute quote history;
● Analytical tools and over 80 built-in technical indicators for technical analysis
● Perform fundamental analysis using financial news and economic calendar.
● The widest range of trading instruments on MetaTrader Market
● Integrated MQL5 development environment enables efficient algorithmic trading.
● Trading signals allow you to automatically copy the trades of experienced traders.
● Alert system to monitor all important market developments.
● Built-in Forex VPS.
MT5 for smartphones and tablets
Download and install the mobile app on your phone and tablet to access the market whenever you want!
1. Go to the respective App Store or Google Play app store on your device
2. Search, download and install the “MetaTrader 5” application by “MetaQuotes Software Corp” to your device.
3. Open the “MetaTrader 5” application, select the “Settings” button, then select the “New Account” section.
4. Use your login information to fill in the “Use existing account” section.
More than one million smartphone and tablet device owners have downloaded MetaTrader 5 to trade Forex, stocks and other assets:
● Using charts and technical indicators, you can explore the financial markets with this app, as well as trade and get stock and currency quotes directly from the broker's server.
● Remember that you can also view your transaction activity history.
● You can access all these exciting features for free, 24/7, from anywhere in the world!
● You can trade anywhere.
● Built-in market analysis tools include 24 analytical items and 30 technical indicators.
● Full-featured trading platform with market depth and multiple trade execution methods.
● Calculation method of offset and hedging orders.
● 9 timeframes and 3 chart types.
● All trading orders. Including pending orders and stop orders.
● Extended version for phones and tablets.
Get MT5 account login information
Steps to get MT5 account login information are as follows:
● Login to broker website
● In the “My Account” or “Accounts” section, click “Trade” on the MT5 account you choose to trade.
● Select “MetaTrader 5 - Download and install trading platform”
● Server information, MT Login is displayed in the “How to connect to MetaTrader” section
● Password: You have set it in the settings when opening MT5 account
3. Deposit
You must deposit funds into your trading account before you can start trading live on the MT5 platform. This must be done before your live account is considered ready for trading. To deposit funds into your account, you must log in. Look for the “deposit” or “add funds” option and follow the instructions on the broker’s website.
A reputable broker like Exness provides you with quick and easy tools to make withdrawals and deposits. They allow you to use a variety of payment methods, including e-wallets like Neteller and Skrill, credit cards, bank transfers, debit cards, online banking, and other payment solutions like PayPal. Start your deposit by choosing the method that best suits you.
Depending on the payment option you choose, it can take anywhere from a few minutes to 1 day or 3 business days for the funds to be processed and appear in your trading account.
4. Start trading
If you are logged in to Exness MT5, now it's time to trade your favorite assets.
There are several ways to place orders in MT5:
● Click on tools on the menu bar. Then select 'New Order'.
● In the Market Watch window, double-click on the asset you want to trade (you can also right-click on the asset you want and select 'New Order').
● Right click on the Trade tab in the bottom terminal and select 'New Order'.
● Press F9 to one-click trade on the chart of your desired asset.
Using any of the above options opens the 'Order Screen'. The left side of the screen is a tick chart and the right side is a customizable order detail. The tick chart shows
the bid and ask prices, and also shows the real-time spread (the difference between the bid and ask prices).
The order information on the right is:
● Symbol: This is the asset you want to trade, for example the EURUSD currency pair.
● Order Type: You can choose between Market Execution and Pending Execution order types.
● Volume: This is the amount of the selected underlying asset (in lot size) that you want to trade. On a standard account, a lot size is equivalent to 100,000 units, meaning a 1 pip movement is typically equivalent to about $10 USD for most assets.
● Stop Loss and Take Profit: You can attach Stop Loss and Take Profit orders to all your trades. Stop Loss orders help limit losses when the asset price moves against you, while Take Profit orders allow you to book profits when the asset price moves in your favor.
● Comments: You can add notes related to the trade in the comments section. This is useful for traders who want to keep a record of their trades.
MetaTrader 5 – Order Types
As mentioned above, you can trade your favorite assets using 2 types of orders: Market Orders and Pending Orders.
● A market order is an order to buy or sell an asset at the current price. The order is executed in real time.
● On the other hand, a pending order is an order to buy or sell an asset at a specific price in the future.
The MT5 platform has the following 6 types of pending orders:
● Buy Stop: An order to buy an asset at a price higher than the current price with the expectation that when this price is reached, the trend will continue higher.
● Sell Stop: An order to sell an asset at a price lower than the current price, predicting that when this price is reached, the trend will continue to decline.
● Buy Limit: An order to buy an asset at a price lower than the current price with the expectation that the asset's price will increase when it reaches a certain price.
● Sell Limit: An order to sell an asset at a price higher than the current price, predicting that the asset's price will decrease after reaching a certain price.
● Buy Stop Limit Order: A combination of a Buy Stop and a Buy Limit order, designed to eliminate slippage. You set the Buy Stop Limit at a price higher than the current price of the asset, and when that price is reached, the Buy Limit order is placed.
● Sell Stop Limit Order: A combination of a sell stop order and a sell limit order designed to eliminate slippage. You place a sell stop order below the current price, and when that price is reached, a sell limit order is placed.
If you use Stop Loss and Take Profit orders, your trades will be automatically closed when they are triggered. You can also manually close orders at any time before they are triggered.