The MetaTrader 5 is a trading platform that was designed and developed by a company called MetaQuotes which specializes in trading software. MetaQutoes is also responsible for the MetaTrader 4 forex trading platform that was released before the MT5. However, the MetaTrader 5 is not an upgraded version of the MetaTrader 4 but rather a separate platform altogether.
The difference between the MT4 and the MT5 is that the MT4 was designed for forex trading, although it does have support for some other assets, mostly commodities and cryptocurrencies. The MT5, on the other hand, was developed with a unique set of tools and support for different financial markets and securities.
In other words, the MetaTrader 5 is much more comprehensive than its sister platform and is often used by brokers that offer a large selection of assets and not only currency pairs.
Quite a lot of brokers also offer a combination where they have the MT4 for forex traders and the MT5 for other types of traders.
Download and Install the MetaTrader 5
The MetaTrader 5 platform is a desktop platform, and the main software requires a download before it can be used. It currently has support for Windows, MacOS, and Linux.
It is worth noting that the MetaTrader 5 is completely free, although it does require you to have an account with a broker.
Now, as the industry has continued to develop, the MT5 has been forced to follow suit. And even though the platform was originally intended to be a desktop platform, it now comes in a few different versions, which brings us to our next point.
Use Online and on Mobile
In addition to the MT4 and the MT5, MetaQutoes has developed one of the best online trading platforms in the industry called the WebTrader as well as an outstanding mobile platform. This means you can use MetaQuotes software as online tools as well.
- MetaTrader 5 WebTrader
Compared to the desktop version, the MetaTrader 5 WebTrader is somewhat limited in its functionality, although it is perfectly fine to use even as a professional trader. As a matter of fact, the WebTrader has gone through some major updates lately, and the differences are now minimal at most.
The main selling point is that it allows traders to access their trading accounts from any computer, even shared ones or computers running on an OS such as Chrome and Windows S.
The MetaTrader 5 web trading is 100% safe and all sensitive information is encrypted following the highest industry standards.
- Mobile Trading with MetaTrader 5
Furthermore, the MetaTrader 5 is also available in a mobile version, and this is one of the more interesting features. Today the MetaTrader 5 can only be downloaded to Android and iOS, and it’s uncertain whether more mobile operating systems will be supported in the future.
However, for anyone sporting an Android or iOS smartphone or tablet, the MetaTrader 5 platform is an excellent tool. Let us repeat that you can use the MetaTrader on your iPhone, iPad, Android Smartphone, and Android Tablet.
Not only does it allow you to monitor your open positions but it actually lets you open and close positions as well as apply stop-losses and such. What is even more amazing is that you can use the MetaTrader 5 mobile platform to analyze assets using one of the available charting tools.
You could say that the MT5 mobile platform is an extension of the regular MetaTrader 5 platform and even though it’s somewhat limited, it’s an excellent option for anyone interested in mobile trading.
Also, if you’re a serious trader, you probably want to be able to keep an eye on your open positions regardless of where you are, and for that the MetaTrader 5 mobile version is perfect.
The MetaTrader 5 Platform
Now let us take a look at how the platform works and what features and services it provides.
Assets – The MetaTrader 5 is a multi-functional trading platform that offers access to the most popular financial markets in the world. It can be used to trade forex, stocks, indices, commodities, futures, cryptocurrencies, and more. Placing orders on any of these asset classes is as easy as it gets.
Want to buy stocks from an exchange? No problem. Like to buy gold as a CFD? No problem. Pretty much any securities and markets are covered via the MT5.
Charting Tools – With a MetaTrader 5 account, you’ll gain access to state of the art charting tools, graphs, forecasts, and everything else you could ever imagine needing. Analyzing prices is a breeze regardless of what market you are focusing on or which indicators your prefer to trade on.
Apart from technical analysis, the MetaTrader 5 provides market updates, news, and other necessary information that you can use to perform fundamental analyses of underlying assets.
In fact, the platform really has it all, and you will most likely not find yourself wishing there were other tools or features available. And if that would ever be the case, you have a huge range of plugins and add-ons that you can attach to the platform to optimize your opportunities.
Automated Trading – The MetaTrader 5 is also big on automated trading, robots, and signals. There are several automatic trading solutions that you can control and set up on your own. For example, there are all the signals and alarms you could think of, there is the possibility to program certain aspects of the platform yourself, and then there is the MQL5 Wizard which is a leading trading robot in the industry.
There is even an automatic feature called the Strategy Tester that lets you test strategies in a risk-free environment.
MetaTrader 5 Demo Trading
Just like its sister platform the MT4, the MT5 comes with a demo trading feature. A demo account is a free replica of a regular trading account where you use virtual money instead of real money. Naturally, this creates a risk-free environment perfect for practicing and strategy development. We honestly think a MetaTrader 5 demo account is something everyone should consider opening since it offers amazing benefits for beginners and experts alike.
Don’t believe us? Then do yourself a favor and open a free account today just to test it out, you won’t regret yourself.
Brokers offering the MetaTrader 5
Due to the MetaTrader’s support for CFDs and all of its amazing features, there is a wide range of brokers offering the MetaTrader 5 platform today. However, in our opinion, there is one broker that stands out.
Markets.com and the MetaTrader 5
A while back, Markets.com switched from using the MetaTrader 4 to only offering the MetaTrader 5, and we love it. It’s not that we don’t like the MT4 – for forex traders it’s perfect – but the MT5 is just so much better, especially for a well-established CFD broker like Markets.com.
Find the best trading platform. You capital is at risk when trading. Be careful.
The MetaTrader 4
As mentioned, the MetaTrader 4 is the younger sister platform to the MetaTrader 5 with a focus on forex trading. It’s an excellent platform as well, especially for professional day traders and you can check out our complete MetaTrader 4 guide for more information.
MetaTrader 5 Demo Trading
One of the main perks of the MetaTrader 5 is the demo account. Because of that, we’ve created a list of all the top brokers offering the MetaTrader 5’s demo account with detailed descriptions of why we recommend them. You can learn more about these brokers in our MetaTrader 5 Demo Accounts guide.
MetaTrader 5 Brokers
In addition to listing the best MetaTrader 5 demo account brokers, we have also created a list of all the best brokers offering the MetaTrader 5 with or without the demo accounts. To our knowledge, our list of the best MetaTrader 5 brokers is one of the most extensive lists on the internet.
Naturally, all the brokers that we recommend are licensed, regulated, and completely safe to use.