Ever since its launch in 2010, MetaTrader 5 has taken the trading world by storm. Whether you’re trading stocks or futures, MT5 offers a level of flexibility and performance that other trading platforms can’t match.
MT5 is more than just an upgraded version of MT4. It is designed with the needs and goals of a modern trader in mind. Let’s break down exactly what sets MT5 apart and how it can help you level up your performance.
Multi-Asset Powerhouse
The most obvious feature of MT5 that sets it apart from other platforms is its multi-asset capability. With MT5, you can trade beyond forex. You can explore commodities, stocks, bonds, futures, indices, and even cryptocurrencies.
MetaTrader 5 is an all-in-one solution for traders looking to diversify their portfolio while managing risks. Multi-asset trading allows traders to adapt to changing market conditions, ensuring profits.
Superior Indicators and Tools
When it comes to charting and technical analysis, no trading platform comes close to MT5. Here’s a brief breakdown of superior indicators and tools offered by MT5:
- 21 timeframes (compared to MT4’s 9)
- 44 graphical indicators (compared to MT4’24)
- 80+ built-in indicators
Moreover, standout statistical tools include:
- Standard Deviation
- Linear Regression
- Moving Average variants
- Bollinger Bands
Traders can study market volume and price momentum from more than one angle and make informed decisions.
Advanced Built-in Economic Calendar
Imagine having all the relevant economic news and updates in front of your eyes while trading. With MT5, this is no longer a dream. MetaTrader 5 features a built-in economic calendar so you can keep up with the latest macroeconomic updates without checking external news sites.
You can also select specific events to display on the calendar for maximum convenience.
Algorithmic Trading
MT5 features the MetaQuotes Language 5 (MQL5), a built-in object-oriented programming language, whose advanced features surpass many of MT4’s qualities. One of its standout abilities is algorithmic trading. Algo trading is the process of training computer programs to execute trades based on predetermined rules and regulations.
MT5 allows traders to create, test, and deploy automated trading strategies. MQL5 also enables complex scripts and Expert Advisors (EAs), allowing traders to have a stress-free experience. All you have to do is set up parameters for entering and exiting a trade, and the algorithms will take care of the rest.
Lastly, MT5 features a multi-threaded strategy tester. This can make complex tasks like backtesting for algo-trading impressively quick and efficient.
Multi-device Operability
Whether you’re at your desk or traveling across the world, MT5 will keep you connected to the trading world so you never miss out on high-value opportunities. MTT5 is compatible with both Windows and macOS, and different versions are available for Android and iOS devices.
For mobile traders, the MT5 mobile app is a godsend. It offers real-time quotes, interactive charts, trading history, and order options. You can manage your portfolio at your ease.
Experts recommend using the desktop version for in-depth analysis and complex tasks like automation.