Why Should Novice Traders Download MT5?

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Why Should Novice Traders Download MT5?
Why Should Novice Traders Download MT5?

Metatrader 5 is a multi-asset platform for making transactions with various financial assets. MetaTrader 5 was released by MetaQuotes in 2010 and is the successor to the well-known MT4 terminal. It has not yet reached such popularity, but in MetaTrader 5, you can invest in options and futures, unlike MetaTrader 4, which is focused only on Forex.

How else does the 4th version differ from the 5th? And should you download MT5?

What is MetaTrader 5?

Why Should Novice Traders Download MT5? - Brand Spur
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Metatrader 5 is the main tool for trading on the currency, stock, and commodity markets. The MT5 functionality provides for:

  • comprehensive market analysis;
  • mobile trading;
  • online trading;
  • algorithmic trading;
  • trading offers market;
  • shared hosting;
  • much more.

Metatrader 5 is used for trading Forex currency pairs, securities, futures, and options. The platform provides reliable placement of protective orders and displays charts of currency quotes. It is possible to analyze the market by technical and fundamental methods.

Core reasons why PRO traders download MT5

Metatrader 5 supports the hedging method, which is the ability to open several positions on the same financial asset in the opposite or one direction.

Moreover, MetaTrader 5 provides a wide range of instruments:

  • 38 indicators;
  • 44 analytical objects;
  • 21 time periods;
  • one-minute history data;
  • any number of charts.

The app provides built-in tools for comprehensive fundamental analysis – a calendar of economic events and news from the world of finance.

The terminal provides daily broadcasts of dozens of newsletters on global and national events that affect stock and currency quotes.

Disadvantages of Metatrader 5

If you have open orders for a currency pair on MT5, each new order is averaged and added to the others. Eventually, you see the final position of the order without specific levels. Because of this feature, it is more difficult to analyze transactions.

Also, Metatrader 4 indicators and robots are not compatible with the MT5 platform. Various programming languages do not allow you to integrate your data from MT4 to MT5.

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Where to download Metatrader 5 and how to install it?

You can download MetaTrader 5 on the official website. The program is free.

MetaTrader 5 can be installed on any mobile device with iOS or Android support. Download MT5 from the Google Play Store or the App Store. Next, open the program and log in by creating an account or using existing data.

Installing Metatrader 5 for Windows OS

When the file with the program is downloaded, it will appear in the downloads folder or in the lower left corner of the screen on your computer.

  1. Open the file called mt5setup.exe.
  2. Follow the instructions from the Windows developer.
  3. Save the new file to your computer.
  4. Click the “Done” button when finished.

After that, a shortcut to the application should appear on the desktop, which must be launched by double-clicking.

Installing Metatrader 5 on Mac OS

Here the algorithm is no less easy than with Windows:

  1. Download the latest version of the platform.
  2. Locate the application folder and copy the file.
  3. Start installing the file by double-clicking.
  4. Accept the system’s security request.
  5. Enter the information as an administrator.
  6. Open the app on your computer.

Since the app is free, you can now use it to the full.

Conclusion

The Metatrader 5 multi-asset platform provides everything you need to conduct successful transactions with any assets. A powerful arsenal of tools for earning is available in one click:

  • a trading system with flexible functions;
  • data for a comprehensive analysis of quotes;
  • an integrated development environment;
  • a multi-currency strategy tester;
  • 24/7 trading with alerts.

The user interface of the MT5 platform is rightfully considered the best.