What is MetaTrader 5 and why give this platform a chance?
Are you still using the MetaTrader 4 platform? Have you heard about the new version, MetaTrader 5? Yes? Then, why haven’t you installed it? Well, it is no secret to anyone that the majority of traders are conservative people who are not willing to switch between trading platforms frequently. However, progress does not stop and before rejecting something, it is worth examining it in detail. Therefore, today we are going to get to know MetaTrader 5 with a focus on Exness MT5.
When did the MT5 platform appear?
The MetaTrader 5 platform is the second (and apparently the most loved) “daughter” of the MetaQuotes Software Corp company. It was launched in 2010, 5 years after the appearance of its predecessor.
MetaQuotes developed the new improved version of the platform with the aim of replacing MT4, but not all traders were thrilled with the idea and until now not everyone has switched to MT5.
What is the difference between MT4 and MT5?
The MetaTrader 5 platform is the second (and apparently the most loved) “child” of the MetaQuotes Software Corp company. It was launched in 2010, 5 years after the appearance of its predecessor.
MetaQuotes developed the new improved version of the platform with the goal of replacing MT4, but not all traders were thrilled with the idea and so far not everyone has switched to MT5.
| MetaTrader 4 | MetaTrader 5 | |
|---|---|---|
| Time periods | 9 default time periods | 21 default and customized time periods |
| Pending orders | Buy/Sell Stop, Take Profit, Buy/Sell Limit, Stop Loss | Buy/Sell Stop, Stop Loss, Buy Stop Limit, Buy/Sell Limit, Take Profit, Sell Stop Limit |
| Order archiving | Orders “older” than 35 days are archived | Not archived |
Despite the fact that they are different, they still have many features in common, namely:
- leverage of 1:Unlimited;
- available hedging system;
- instant and market execution;
- intuitive interface translated into many languages (specifically, you can
choose from MetaTrader 5 in Spanish, French, Portuguese,
Chinese, etc.); - high accessibility: you can use MetaTrader 5 online or
download MetaTrader 5 for PC (there are versions of the program
compatible with Windows and Linux). And you don’t even have to
worry about the program’s compatibility with Apple devices and Android gadgets: there are MT5 for Mac / iPad, for Android, and iOS.
Furthermore, both provide news of financial markets, technical analysis tools, expert advisors (EA robots or expert advisors in English), analytical objects, and technical indicators.
What instruments other than Forex currency pairs can be traded through MT5?
MT5 was invented as an alternative to MT4 that allowed trading not only with forex, but also with other highly demanded instruments. Thus, MetaTrader 5 can be used for operations with CFDs, stocks, indices, cryptocurrencies, metals (gold, silver, palladium, platinum) and energies.
Trading automation through Exness MT5
Like MT4, MT5 has automation tools that facilitate the life of retail investors and allow them to get the most out of their trading strategies, whatever they may be. With that said, unlike the previous version, MetaTrader 5 has a wider selection of options to optimize trading: 22 analytical tools, 38 indicators, and 46 graphic objects.
MetaTrader 5 app for mobile phones
Exness has not forgotten its on-the-move traders: the MT4 and MT5 trading platforms are available for download on mobile devices. Compatible with iOS and Android, the MT4 and MT5 mobile applications make it possible for traders to use all types of orders. They can make optimal trading decisions with the help of charts, built-in indicators, and financial market news. Traders can also keep track of their trading history in the journal.
How to use Exness MT5?
The most important thing to know about both platforms is that neither of them can be used without a real trading account. So, the first step to do is to register an account with a reliable broker. Then you can install the MT5 program for PC or open MetaTrader 5 online and log in with the account credentials.
How to open an Exness MT5 account through the Exness website?
Exness provides its clients with 5 different accounts to choose from: 2 of the standard type suitable for both novices and experts, and 3 professionals. However, only 4 of them are compatible with MT5, namely: Standard, Zero, Pro, and Raw Spread. The most basic account called Standard Cent is only compatible with MT4.
Therefore, review the account conditions (commission level, spreads, position volume, margin call, stop out, etc.) and choose the most suitable one. To complete the account registration, you must specify your country, email address, and password. Then Exness will send you a request for personal information verification. After confirming your identity, you will have to make the minimum deposit according to your account type. With the money available in your balance, you will be able to place your first orders.
What to do if I already have MT5 on my computer?
Meta Trader 5 is quite popular among both brokers and retail investors. So, if you already have some experience in trading, it is very likely that MT5 for PC is installed on your equipment. In this case, you only need to add a new account to the list of available accounts and log in with the Exness account access details.
What to do if I don’t have MT5 installed on my PC?
Users who do not have MT5 PC can download the platform from the Exness website and install it like any other program on their computer. It is easy and quick, and generally does not take more than 15-20 minutes. Or you can even skip this step and open MetaTrader 5 directly in your web browser. Exness allows its clients to do this.
Main requirements of the MT5 program for PC
Before starting the installation of MetaTrader 5 for PC, first you must check if your operating system meets the basic requirements:
- Windows 7 or any higher version;
- RAM capacity of 256 MB+;
- 50MB+ of free space on your hard drive.
Before starting the installation of MetaTrader 5 for PC, first you must check if your operating system meets the basic requirements:
Instructions on how to install Meta Trader 5 PC
Installing MT5 is very simple. Most of the steps are the same as those usually done to install any other software or video game. So, simply do the following:
- Open the Exness website, click on Tools and services and then on MT5.
- Click the Download MetaTrader 5 button.
- Once the download is complete, find the exness5setup.exe file in the downloads folder or another one where you downloaded it.
- Double-click on the file to run it.
- Read and accept the license agreement, and then follow the instructions of the virtual installation assistant.
- When the installation ends, click Finish. MT5 will open automatically.
- Close the window that offers you to open an account, click on File, click Log in to the trading account, and log in with your username, password, and server. This information can be found in the Personal Area of your Exness account.
Like the ABCs, don’t you think? And in case you need more instructions, in the Exness Help Center you can find many step-by-step tutorials on how to set up MT5, place the first order, take advantage of indicators, set up automation robots, use the platform functions, read charts, analyze markets, assess investment risks, and so on.
How to remove the MT5 program from PC?
To delete the MT5 program from your Windows, open the control panel, launch the program manager, find MT5 in the list, select it, press the delete button and confirm your decision for the system to do the rest.
So, even though it is less popular than MT4, MetaTrader 5 has many advantages that make it one of the best trading platforms on today’s market. It is suitable for all types of retail investors, regardless of level, experience, and favorite instrument (be it CFD, gold, cryptocurrency, or any other).
Frequently Asked Questions
Where can I download Metatrader 5?
You can download the MetaTrader 5 trading program both from the official website of MetaQuotes Software Corp, as well as from the Exness website: click on the Tools and Services tab, select the MT5 option and on the page that opens click on the large yellow button “Download MetaTrader 5”.
How to use Metatrader 5?
The first thing to note is that you cannot use either MetaTrader 5 or MetaTrader 4 without a broker. To log into the platform and make orders through MT5, you must register a real trading account with a trading service provider of your choice (for example, Exness). Once you have it, you can choose between MetaTrader 5 online, MT5 for PC, and MetaTrader 5 app. There are programs compatible with Windows, Linux, iOS, and Android.
Is it true that Metatrader 5 is reliable?
MetaTrader 5 is a secure platform that uses data encryption and extended validation technologies to protect customer information from hackers. That said, it is impossible to guarantee the absolute security of any online platform. On the other hand, trading as such involves some risk. Be careful and make well-thought-out decisions unless you want to lose money quickly due to lack of attention to detail or little experience in the field. In addition, many retail investors lose funds when trading with CFDs, because they are not as easy as they seem at first glance.
Is Exness MT5 free?
Yes, the trading platform itself is free, but it cannot be used without registering a real trading account with a broker of your choice.
How to start trading Forex currency pairs through MT5?
If you already have an active trading account, log into the MT5 platform using the access data to this account (login, password, and server). You can use MT5 PC, MT5 for Mac, or open MetaTrader online in your browser. In case you do not have a trading account, you must first register it with a suitable broker. After logging into the platform, click on New Order, press the F9 key, find Forex in the window that opens, right-click on this option, select New Order, and double-click on this instrument in the market monitoring window.
