MT5 is considered a modern platform based on the latest automated trading systems on the internet. The tool has many functions, among which we can mention copy trading. MT5 is an upgraded system: now you can select an asset class from an expanded list. MT is available on various systems (Win 10, Android, iOS, and others) and offers support for libraries, scripts, and user settings. The participant can contact an expert advisor at any time. Today, MetaTrader 5 is in high demand, as the platform is designed and optimized to work in dynamic, rapidly changing markets.
The platform is suitable for both beginners and experienced traders, providing them with all the necessary tools. Practice shows that some users have successfully migrated to MT5 from the MT4 platform. It’s very easy to get started on the platform: you need to select MT5, deposit $100 to replenish your account, and then download the app or log in to your PC using the correct credentials. In this article, we talk in more detail about MT5, its advantages, and features. We also explain why many experts recommend using MT5 today. The platform has low system requirements and works on any modern PC, laptop, smartphone, and tablet.
Functionality and Advantages of MT5
Tools
MT5 has a number of powerful tools for data collection and analysis, meaning a trader can review the results of their activities over a certain period and draw appropriate conclusions. This helps you progress faster and achieve your goals. It is best to analyze the results using graphs. You can make notes and make adjustments to your strategy.
Expert Advisors
You need to know that on MT5, it is allowed to use ready-made robots for automatic trading (they are available in the store) or develop them yourself if you are familiar with the MQL Meta Editor. You can visit the “Expert Advisors” section on AvaTrade’s official website to familiarize yourself with the functions of EA programs; there are detailed instructions on how to download EA and run it for automatic operation “without hands”. There is a tutorial video that you should watch to get an idea of EA. You can get a free Expert Advisor online but it is better to buy it on the MetaTrader Market. You can try out the EA in demo mode, after which a purchase or lease is available.
Versatility
MT5 provides a wide range of features. You can use CFDs related to commodities, foreign currencies, index ETFs, cryptocurrencies, stocks, and many others. MT5 is convenient: all functions are placed in a single menu, and you can create your own toolbar by placing the necessary tools there. As a result, you get a convenient platform for managing online trading. At the same time, a high level of security is ensured. All data that is transmitted to the server is encrypted; 128-bit keys are used, which are extremely difficult to unravel. The probability that fraudsters get your banking details and other financial data is approaching zero.
Support for MQL5
The good news is that MT5 supports MQL5 (based on C++). It is a programming language that is convenient for developing financial applications. Using this language speeds up optimization and makes it possible to quickly introduce new programs into the system. If you study MQL5, you will be able to develop your own EA, which will make it possible to automate trading.
Additional Features of MetaTrader 5
You can use a single login to work on different platforms. This feature is available to you after registering on AvaTrade. Please note that financial news streaming is available to you. Reference books, guides, and instructions on MQL5 are also available to you. They will be useful if you want to do programming to create your own EA. To test one of the strategies, you can use a tester. The internal mail system allows for secure correspondence with partners. The platform runs backups to save your data in case of a system failure. It is convenient to analyze the results on MT5; you can choose from three types of charts: linear, columnar, and candlesticks. Traders can transfer funds between accounts, which is convenient and secure.
The big advantage of MT5 is the ability to trade directly from the browser: you can open the app on your smartphone and manage your assets. If you open MarketWatch, you are able to see the current quotes. When you join the platform, you can choose a server and a broker: AvaTrade or another. There is a chat room in the trading community where you can talk with colleagues and get valuable information. Let us remind you that the MT5 platform is designed not only for experienced traders but also for beginners. For example, you can start by making a minimum deposit of $100. By buying CFDs, you can increase your bank and gain online trading experience. You can try yourself in the field of cryptocurrencies, as this is now a common practice.