Following the very successful MetaTrader 4 (MT4), MetaTrader 5 (MT5) is MetaQuotes’ next-generation trading platform. MT4 was optimised for this, but MT5 is functionally designed to support more asset classes, including cryptocurrency. The best multi-asset platform nowadays is MT5, which offers many powerful and valuable new features and a wealth of handy trading tools and information. To utilise MetaTrader 5 to its full potential, follow these steps: education; install and MT5 download and set up an order.
Education
MetaTrader 5 is brimming with tools and resources to make your trading more effective. To ensure you are adequately prepared to utilise the platform’s full functionality, learning about all the features and how they apply is crucial. You will be able to fully utilise the raw power of the MT5 platform if you spend some time familiarising yourself with all of the features offered by this user-friendly platform.
Install And Download MT5
The following specifications must be met before you can use AvaTrade MT5 on your PC:
- Operating System Windows 7 or later
- A processor of at least Pentium 4/Athlon 64
- Consider more powerful hardware options if you use your computer heavily (for example, by opening multiple charts and using multiple EAs).
To install AvaTrade MT5 on your PC, complete the steps listed below:
- MetaTrader 5 download link should be clicked.
- Launch the ava5setup.exe programme
- Type in your authentic account login details.
- Directly from the platform, you may also create a new demo account.
- Starting trading
Place Your Order
It is time to trade your preferred assets if you have already signed into your MT5. On MT5, orders can be placed in a variety of ways:
- On the Menu bar, select Tools. Then choose “New Order.”
- Double-click the asset you want to trade in the Market Watch window. Alternatively, you can right-click the asset you want to trade in and choose “New order.”
- Choose “New Order” from the context menu when right-clicking the Trade tab on the lower terminal.
To trade with one click on the chart of your preferred asset, press F9.
Advantages Of MT 5
One of the platform’s main advantages is that traders can use other analytical tools besides the built-in indicators, MT5 tables, and graphs. Thanks to MQL5, a high-performance and object-oriented language, trading professionals can develop their technical indicators.
Trading robots or expert advisors could be created by traders using the much simpler coding that MQ4 allows. Depending on various inputs, trading robots can execute multiple trading strategies automatically. The opportunity to acquire accurate market information and projections will be made available to traders in this way.
MetaTrader 5 offers improved order management features (e.g. filling orders using multiple deals, including partial fills). A new position is opened if a trader makes a new deal while holding an open position at the same symbol. That is the fundamental tenet of the MetaTrader 5 hedging system. The trader can view each position’s profit level and set the Stop-Loss and Take-Profit levels.
Conclusion
With its solid capabilities for stock trading and accompanying order management procedures, the new MT5 download is among the best available today. However, the MT4 platform includes more robust tools and features that one can use for FX trading. MT5 is a more powerful and effective programme due to the minor differences between MT4 and MT5.
Although the new MT5 version is undoubtedly more effective and powerful than MT4, since both platforms serve various functions, they cannot wholly replace one another. While MT4 is only for forex trading, MT5 allows you to trade different financial assets, such as FX, stocks, commodities, cryptocurrencies, and indices, all through a single account.
