Best for: Advanced traders
MetaTrader was initially designed for forex trading only, but with the new MetaTrader 5, CFD (contract for differences) trading and stocks are now included.
The app also comes with real-time trading and various advanced technical analysis, which may be difficult for beginners. For advanced traders, the comprehensive suite of tools is among the best in the app market.
This app also allows for eight different types of pending orders.
The algorithmic and copy trading features are a favorite among users.
What is the MT5?
MetaTrader 5 (MT5) facilitates online trading in forex, stocks, and futures. Rich analysis tools and indicators make it an excellent platform for experienced traders. Automated trading is also available through expert advisors and signals.
Best MetaTrader (MT5) Brokers
- FP Markets– Best Overall MT5 Broker 2020.
- FBS – Lowest Spread MT5 Broker 2020.
- GO Markets – Best MT5 Broker for Beginners 2020.
- FXTM – Best ECN MT5 Broker 2020.
- Pepperstone– Best for Scalping and EA Trading MT5 Broker 2020.
Is MetaTrader 5 good for beginners?
Every beginner also can use automated trading software. This will be helpful for them to a great extent. MT5 is the next level platform in the MetaTrader platform series. So, once a beginner finishes with MT4, the next best platform to master is MT5
A powerful platform for Forex and Exchange markets
Successful trading starts with convenient and functional trading.
MetaTrader 5 is the best choice for the modern trader.
MetaTrader 5 is a multi-asset platform that allows trading Forex, stocks and futures. It offers superior tools for comprehensive price analysis, use of algorithmic trading applications (trading robots, Expert Advisor) and copy trading.
Trading and orders in MetaTrader 5
Flexible trading system for every possible strategy
The MetaTrader 5 platform provides everything you need for successful trading, including up-to-date account information along with a powerful trading system. This platform also offers Market Depth, a separate accounting of orders and trades, the support of all types of trading orders and execution modes.
Two position accounting systems
MetaTrader 5 supports two order accounting modes: the netting mode is adopted on exchange markets, while the hedging method can be used for Forex trading. With the netting system, the trader will be able to have only one open position of a financial instrument at a time. The volume of that position can be increased or reduced through any further operation on the same symbol. With the hedging system, any new deal on a financial instrument opens a new position. Individual Stop Loss and Take Profit levels can be set for each of the open positions.
The powerful trading system of MetaTrader 5 ensures flexible control over trade operations. The platform provides all the necessary options for successful trading on the Forex and on Exchange markets!
Any trade operation on the Forex or Exchange Markets can be executed through an order. This is a request to a broker to buy or to sell a financial security. Execution of such an order results in a deal.
The MetaTrader 5 trading platform supports all types of trade orders, including market, pending and stop orders, as well as Trailing Stop. These four order execution modes are available to meet various trading objectives: Instant, Request, Market and Exchange execution.
Market orders are used for instant execution. For example, if a trading strategy requires to have a deal which is instantly executed, a trader will be able to execute an operation, only by sending an order. The brokerage company then will execute the order at any price, and by giving such an order, a trader consents for its execution. In contrast, if it is important to enter the market as accurately as possible, a deal can be executed at the price specified in it. If the broker confirms the price, the trade request will be completed immediately.
Pending orders are formed instantly but they can be executed in future, as soon as the market situation meets the specified condition. For example, with the Buy Stop order a trader can buy stocks, currencies or other securities once their price will be higher than the current one. If the trader expects that a security price will rise to a certain level and then will continue the upward movement, then this request can be used.
Stop orders help traders to lock their obtained profits and minimize their losses. These orders are used in combination with market or pending orders, as well as with trade positions. Pending orders are always set at a certain distance from the current price or from the open price of the order.
Comprehensive information about all the orders and open positions is always available in the Toolbox — Trade window. Through the Toolbox window, traders can track their number of orders and positions, open prices, volumes, stop-orders or their account status. Additionally, this tool gives direct access to the detailed history of all deals in one window.
Built-in reports are needed essentially for evaluating the effectiveness of trading operations. They can automatically analyze numerous different trade values: the profit factor, expected payoff, drawdown, number of trades, average profit/loss and many other parameters. With this valuable information you can easily evaluate a trading system or compare the results of different trading strategies.
MetaTrader 5 is the source of new and exciting trading opportunities. You can implement virtually any trading strategy for the Forex and exchange markets with MetaTrader 5!
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