MetaTrader 5: Introduction, Features, Download and Installation

MetaTrader 5 (MT5) is one of the most popular trading platforms today, designed for traders in Forex, stocks, and commodities markets. With advanced features such as multi-asset trading support, powerful technical analysis tools, a flexible order system, and automated trading capabilities with Expert Advisors (EA), MT5 helps investors optimize their trading strategies.

In this article, we will explore MetaTrader 5, its key features, and how to download and install this platform on both desktop and mobile devices. Whether you’re a beginner or an experienced trader, platforms like FOREX89 provide valuable resources to maximize your trading efficiency.

Introduction what is MetaTrader 5?

MetaTrader 5 (MT5) is an advanced multi-asset trading platform developed by MetaQuotes in 2010. It is an upgraded version of MetaTrader 4 (MT4), offering more powerful features and support for trading across various financial markets, including forex, stocks, commodities, and cryptocurrencies.

MT5 is designed to enhance the trading experience with numerous technical analysis tools, automated trading (Expert Advisors – EA), and a flexible order execution system. Thanks to improvements in processing speed, multi-threaded backtesting capabilities, and support for multiple timeframes, MT5 has become a top choice for professional traders.

Now that we understand what MetaTrader 5 is, let’s explore its outstanding features that make it a preferred choice for traders.

Outstanding Features of MetaTrader 5

MetaTrader 5 (MT5) is one of the most advanced trading platforms today, offering a wide range of superior features to help traders optimize their strategies. Below are the key features of MT5 that you should know.

Multi-Asset Trading Support

Unlike MetaTrader 4 (MT4), which mainly focuses on forex trading, MT5 supports trading across multiple asset classes, including:

• Forex: Trade currency pairs with low spreads and flexible leverage.
• Stocks: Access global stock markets.
• Commodities: Trade gold, crude oil, silver, and other commodities.
• Indices: Track and trade major stock indices like the S&P 500 and Dow Jones.
• Cryptocurrencies: Support for trading Bitcoin, Ethereum, and other digital assets.

The ability to trade multiple asset classes allows traders to diversify their portfolios and take advantage of opportunities across various markets.

Advanced Technical Analysis Tools

MT5 offers a powerful suite of analytical tools to help traders make informed decisions:

• 21 timeframes: More timeframes than MT4, enabling detailed market analysis.
• Over 80 technical indicators and drawing tools: Includes RSI, MACD, Bollinger Bands, Fibonacci, trend lines, and more.
• Multiple chart display: Allows traders to monitor and analyze multiple assets simultaneously.
• Integrated economic calendar: Provides real-time updates on key economic events.

These tools enable traders to conduct in-depth technical analysis and identify market trends more effectively.

Flexible Order System

MT5 supports various order types, allowing traders to manage risk more efficiently:

• 6 pending order types: Buy Stop, Sell Stop, Buy Limit, Sell Limit, Buy Stop Limit, and Sell Stop Limit.
• Market orders: Instantly buy or sell at the current market price.
• Stop Loss & Take Profit: Automatically manage risk and lock in profits.
• One-Click Trading: Execute trades instantly with a single click.

This flexible order system helps traders maintain better control over their trades and optimize their strategies. Platforms like Etoro also offer advanced order execution capabilities, making it easier to manage diverse portfolios effectively.

Automated Trading with Expert Advisors (EA)

MT5 supports algorithmic trading through Expert Advisors (EA), allowing traders to automate their strategies without constant monitoring:

• MQL5 programming language: More powerful than MQL4, supporting object-oriented programming.
• Multi-threaded strategy tester: Faster performance with support for backtesting multiple assets simultaneously.
• Free EA and Indicator marketplace: Download from the MetaTrader Market or develop custom scripts.

With EA, traders can automate their trading, minimize emotional influence, and optimize performance.

Depth of Market (DOM)

MT5 provides the Depth of Market (DOM) feature, enabling traders to monitor actual market liquidity:

• Displays detailed bid/ask prices at different levels.
• Helps traders assess the supply and demand of an asset.
• Provides crucial data for Scalping and Day Trading strategies.

This feature gives professional traders deeper market insights, leading to more precise trading decisions.

Multi-Device Trading Support

MT5 offers high flexibility with access across multiple platforms:

• MT5 for PC: Supports Windows and macOS with full functionality.
• MT5 WebTrader: Trade directly from a web browser without installation.
• MT5 Mobile (Android & iOS): Trade anytime, anywhere with ease.

Before you can start trading on MetaTrader 5, you need to install it properly. Let’s go over the process step by step.

How to Download and Install MetaTrader 5

MetaTrader 5 (MT5) is one of the most popular trading platforms today, supporting trading on multiple devices, including computers, mobile phones, and web browsers. Below is a detailed guide on how to download, install, and use MT5 on both computers and mobile devices.

Installing MT5 on a Computer

Step 1: Download MetaTrader 5

• Visit the official MetaTrader website.
• Click the “Download” button and select the appropriate version for your operating system (Windows or macOS).

Step 2: Install MetaTrader 5 on Your Computer

• Once the download is complete, open the installation file mt5setup.exe (Windows) or mt5.dmg (macOS).
• Click “Next” to start the installation process.
• Choose the installation directory (or leave it as default), then click “Install”.
• Wait for the installation to complete and click “Finish” to finalize the process.

Step 3: Log in to Your Trading Account

• Open MetaTrader 5 and go to “File” → “Login to Trade Account”.
• Enter your account details:
  • Account Number
  • Password
  • Trading Server
• Click “OK” to log in and start using MT5.

Step 4: Configure the Interface and Start Trading

• Select trading assets: Press Ctrl + U to open the asset list.
• Customize the chart: Right-click on the chart, select Properties to adjust colors and timeframes.
• Add technical indicators: Click Insert → Indicators to add RSI, MACD, Bollinger Bands, etc.
• Place a trade order:
  • Press F9 to open the order window.
  • Select the order type, volume, and set Stop Loss Order and Take Profit if needed.
  • Click Buy or Sell to execute the trade.

How to Use MetaTrader 5 on Mobile

MT5 also has a mobile version, allowing traders to easily monitor the market and trade anytime, anywhere.

Step 1: Download the MT5 App on Your Phone

• On Android: Go to Google Play Store, search for MetaTrader 5, and tap Install.
• On iOS (iPhone, iPad): Go to App Store, search for MetaTrader 5, and tap Download.

Step 2: Log in to Your MT5 Account

• Open the MT5 app and tap on the Menu (☰) icon.
• Select “Manage Accounts” → “Login to an Existing Account”.
• Enter your trading account information (account number, password, and server).

Step 3: Mobile Interface and Key Features

• Quotes: Displays exchange rates of currency pairs, stocks, commodities, etc.
• Chart: Provides candlestick charts with various drawing tools and technical indicators.
• Trade: Shows account balance, profit/loss, and active orders.
• History: View previously executed trades.

Step 4: Placing a Trade on MT5 Mobile

• Go to the “Quotes” tab and select the asset you want to trade.
• Tap the “Trade” icon to open the order window.
• Select order volume, set Stop Loss and Take Profit if needed.
• Tap Buy or Sell to execute the trade.

Step 5: Configuring and Customizing the Interface

• Tap the “Settings” icon to adjust the interface.
• Change chart colors, candlestick display mode, and enable/disable trade notifications.
• Add technical indicators by tapping the chart, then selecting “Indicators”.

With MetaTrader 5 set up, it’s time to learn how to use it. Up next, we’ll cover a beginner’s guide to help you get started.

MetaTrader 5 User Guide for Beginners

MetaTrader 5 (MT5) is a powerful trading platform widely used by traders to analyze markets and execute buy/sell orders. Below is a detailed guide on how to log in, place orders, use technical indicators, and set up automated trading on MT5 for beginners.

How to Log in and Connect Your Account

Step 1: Open the MT5 Platform

• On PC: Launch the installed MetaTrader 5 software.
• On Mobile: Open the MT5 app on iOS or Android.

Step 2: Log in to Your Trading Account

• On PC: Click “File” → “Login to Trade Account”.
• On Mobile: Tap Menu → “Manage Accounts” → “Login”.
• Enter your account number, password, and select the trading server.
• Click OK to connect your account.

Step 3: Check Connection Status

• If the login is successful, the bottom corner of the platform will show the connection status to the server.
• If the connection fails, verify your account details or ensure a stable internet connection.

How to Place Buy/Sell Orders on MT5

Placing a Market Order (Instant Execution)

• On PC: Press F9 or select “New Order” from the toolbar.
• On Mobile: Go to Quotes, select a trading pair → Trade.
• Select the lot size (trade volume).
• Click Buy (for a long position) or Sell (for a short position) to execute the order at the current market price.

Placing a Pending Order

• In the Order Window, select “Pending Order” instead of “Market Execution”.
• Choose the order type:
  • Buy Limit: Buy when the price drops to a specific level.
  • Sell Limit: Sell when the price rises to a specific level.
  • Buy Stop: Buy when the price reaches a specified level above the current price.
  • Sell Stop: Sell when the price drops to a specified level below the current price.
• Enter the desired price level and click “Place Order” to confirm.

Setting Stop Loss (SL) and Take Profit (TP)

• Stop Loss (SL): Set a price level to limit potential losses.
• Take Profit (TP): Set a price level to automatically secure profits.
• You can adjust SL/TP after placing an order by dragging the price line on the chart or modifying it directly in the Trade tab.

How to Use Technical Indicators and Drawing Tools on MT5

Adding Technical Indicators (Indicators)

• On PC: Click Insert → Indicators, then select the desired indicator (RSI, MACD, Bollinger Bands, etc.). Customize the indicator settings and click OK to apply it to the chart.
• On Mobile: Open the trading chart and tap the Indicators icon. Select the indicator type and adjust the parameters as needed.

Using Drawing Tools for Analysis

• Trendline: Click Insert → Objects → Trendline, then draw it on the chart.
• Support/Resistance: Use the Horizontal Line tool to mark key price levels.
• Fibonacci Retracement: Helps identify important retracement levels in price movements.

MetaTrader 5 is a powerful trading platform that offers various tools to assist traders in market analysis and efficient order execution. With a user-friendly interface, multi-device trading capabilities, and support for advanced technical indicators, MT5 is an ideal choice for both beginner and professional traders. To maximize the benefits of this platform, practice on a demo account before live trading and implement proper risk management strategies.