If you are (or aim to be) a Forex trader, you would have by now heard of MetaTrader 4, the de facto standard when it comes to online platforms. Like any other forms of software application, there will always be improvements and new versions and that is what you get with the successor of MT4, the MT5.
More powerful analytics in MT5
Through MT5, you can check all the potential markets and areas that you can trade in through the analysis and market information segment. The analytics segment in MT5 is designed to provide the latest and updated news about currencies and events that will affect the market. You can find out what others are thinking about these events which can then help you to make a sound decision on your trading activities.
Monitoring International market in real-time
Providing real time information on international Forex markets, you will be able to carry out your own analysis where applicable. After all, when you are trading foreign exchange that runs throughout the day in all types of currencies, having real-time information makes a whole lot of difference to your analysis.
Through MT5, you will be able to monitor the market trends happening around the world while carrying out your analysis with other members of the community. You will be able to gain full access to all the information from analytics and quotations which you need or interested in. Unlike other Forex trading portals, which are designed to facilitate you in Forex trading, MT5 offers a wide range of information and tools that will help you in your investment activities. This is a reliable source of information that you can check and use before taking any plunge into the currency market. You will notice in time how useful these information are and how they come in handy especially when you are dealing with a lot of vitality. On top of that, you can browse through the Forex articles that have been published by renowned and reputable analysts from around the world.
MT5 Interactive community engagement
Indicators are available as well while you can check out the reviews of brokers that can facilitate your decision of engaging one in the market. One of the highlights of MT5 is the forum here where it is participated by thousands of members around the world. Take note that MT4 is that one single platform used by almost every Forex trader in the world and MT5, with these additional features will not be any different.
Exchange of knowledge and information
This is the place where ideas and information are exchanged between embers while advices are sought and given by the experienced traders. In order to be part of the forum, you need to register and account with MT5 with which you can then either post a question or offer any advice that you might have. There are a wide variety of topics that you can browse through here which are being discussed in real time and posted by forex traders all around the world. A healthy forum community like MT5 is an ideal place to start if you are new to this business. Meanwhile, it is a very useful platform for traders to share all the resources and experience in their own respective markets.
The Trading Platform
As the latest version of the MT platform, MT5 gives you a lot more freedom when you are maneuvering across the many financial markets across the world. Using MetaQuotes means you can now enjoy a more user-interface which has been given a total makeover by the developers. What you get now really is better productivity and faster performance at all levels while getting more powerful features with MT5.
As mobility goes, you can now use MT5 not only for Microsoft Windows, Linux and Macintosh OS but it comes available for Android and iOS smartphones. So you can now trade as you go. Among the types of accounts you can get with MT5 is either the Classic or the Mini. You can trade most major currency pairs with MT5 using Fill or Kill execution policies respectively.
Key Features of MT5
Besides all the benefits mentioned, MT5 gives you added features that include:
- You can launch and access the development module directly through its MetaEditor
- The MQL4 language has been given a fresh makeover. That which cannot be done with the MQL 4 can now be done with MetaQuotes Language 5.
- It comes with a hedging mode system where you can have multiple positions within one single trading instrument and it allows you to use opposite ones as well
- Based on one-minute intervals, the charts can be created which means you get up to 21 timeframes at any time.
- MT5 comes with its Forex calendar which gives you the information you need like events, forecasts and such to make your fundamental analysis.
- You get so many options with MT5. There are (in-build) more than 30 indicators, 20 analytical tools and 45 graphical objects. If that is not sufficient to help you with your analysis, then no one in the market can help you
The developers at MetaQuotes have gone to great lengths to ensure that you have the best tools and to equip with the best available technology in the market. This means you only need to have the knowledge, experience and a lot of bravery.