What is MetaTrader 5?
MetaTrader 5 (MT5) is the latest platform from MetaQuotes, coming after the hugely popular MetaTrader 4. While MT4 has been optimized for forex trading, MT5 is functionally designed to accommodate more asset classes. MT5 is now the ideal multi-asset platform for the modern trader looking to enhance their trading experience through the use of a range of powerful and effective new features, as well as useful trading tools and resources.
AvaTrade offers its traders the powerful MT5 that allows them to trade multiple assets such as: B. CFDs on Forex, Stocks, Commodities, Indices, Futures, Energy and Cryptocurrencies, with flexible leverage, no requotes, no price rejections and no slippage. .
A key benefit of the MetaTrader 5 platform is that you can trade anywhere and anytime from the convenience of your smartphone or tablet. This is the result of the web platform that allows a trader to trade their assets of choice from any web browser and any device. Furthermore, the MT5 platform offers trading robots, trading signals and trading copy, and all available tools and features can be used from a single powerful page.business platform.
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How to trade with MetaTrader 5
Here are the next steps to experience the full power of AvaTrade MetaTrader 5:
- Take advantage of the AvaTrade Education Center
- Create a live or demo account with AvaTrade Australia
- Download and install MetaTrader 5
- Place your order with AvaTrade Australia
As mentioned above, MetaTrader 5 is packed with numerous trading features and resources designed to enhance your trading activities. It is important that you familiarize yourself with all the features and their applicability to ensure that you are well equipped to harness the full power of the platform.
From the 7 types of asset classes available, numerous trading tools, indicators and chart objects to 6 different order types, multiple automated strategies and market depth, the only way to fully experience the raw power of the MT5 platform is to truly take the plunge. Time to read about all the available to inform features of this intuitive platform.
AvaTrade also offers numerous training materials specific to the MT5 trading platform, which are available free of charge in our training section. Be sure to take advantage of informative and friendly e-books and videos that explain in detail how to trade financial assets online efficiently.
2.Create a live or demo account with AvaTrade Australia
Follow the steps below and quickly create your MetaTrader account:
- Click the button Open a live or demo account in MetaTrader
- Fill in the form with your data or simply use the "Add with Facebook" or "Google +" buttons.
- Answer some important questions to improve your trading conditions
- Enter your desired password and then click "Next Step".
- Fill it out and then click Submit
- Congratulations, your MetaTrader account is finally ready!
3. Download and install MetaTrader 5
These are the minimum system requirements to use AvaTrade MT5 on your PC:
- Windows 7 or higher operating system (64-bit system recommended)
- Pentium 4/Athlon 64 processor or higher (all modern CPUs should support this)
- If you intend to be a heavy user (for example, open multiple charts and use multiple EAs), you may want to consider more powerful hardware options.
Follow the steps below to download and install AvaTrade MT5 on your PC:
- Click on AvaTradeDownload Metatrader 5shortcut
- Run the file ava5setup.exe
- Enter your real account credentials
- You can also open a new demo account directly from the platform
- start negotiating
4. Place your order
If you are already logged into your AvaTrade MT5, now is the time to speculate on the prices of your favorite asset.
There are several ways to place an order on MT5:
- On the menu bar, click Tools. Then select "New Order"
- In the Market Watch window, double-click on the asset you want to trade (or right-click on the desired asset and then select "New Order").
- Right click on the "Trade" tab in the lower terminal and select "New Order".
- Press F9 to trade the chart of your favorite asset with one click
When any of the above options apply, the “Order Screen” will appear. The screen has a tick chart on the left and customizable order details on the right. The tick chart shows the bid and ask prices and therefore the spreads in real time (the difference between the bid and ask prices).
The order details on the right are:
- Symbol– This is the asset you want to trade, e.g. B. the EURUSD currency pair.
- Order type– You can choose between Market Execution and Pending execution order types.
- Volume– This is the amount (in lot sizes) you wish to trade of the selected underlying. On a standard account, 1 lot size equals 100,000 units, which generally means that a 1 pip movement is around US$10 (USD) on most assets.
- Stop Loss y Take Profit– You can add Stop Loss and Take Profit orders for all your trades. Stop-loss orders help limit your maximum loss if the asset price moves against you, while take-profit orders allow you to book profits if the asset price moves in your favor.
- Comment– You can add notes to each operation in the comments section. This is ideal for merchants documenting their trading activity.
MetaTrader 5 – Order Types
As mentioned above, you can trade your favorite assets with 2 types of orders: market order and pending order.
- A market order is an order to buy or sell an asset at the current price. The order is executed in real time.
- On the other hand, a pending order is an order to buy or sell an asset at a specific price in the future.
The AvaTrade MT5 platform has 6 types of pending orders as follows:
- stop buying– An order to buy an asset at a price above the current price with the expectation that the trend will continue to rise once that price is reached.
- sell thisp – An order to sell an asset at a price below the current price, with the expectation that the trend will continue to decline once that price is reached.
- Purchase– An order to buy an asset at a price lower than the current price with the expectation that the asset's price will increase once it reaches a certain price.
- sell limit– An order to sell an asset at a price higher than the current price with the expectation that the asset's price will fall after a certain price is reached.
- buy stop limit– A combination of buy stop and buy limit orders to eliminate slippage. Sets a buy stop limit at a price higher than the current price of the asset, and when it is reached, a buy limit order is placed.
- Sell Stop Limit– A combination of sell stop and sell limit orders to eliminate slippage. You set a sell stop limit at a price lower than the current price and when it reaches it a sell limit order is placed.
When you apply Stop Loss and Take Profit orders, your trading positions will be closed automatically when they are triggered. You can also manually close positions at any time.
Trade anytime, anywhere
The AvaTrade MT5 platform also has a web version that can be accessed via mobile and desktop browsers. There is also a downloadable MT5 mobile app platform that is compatible with Android and iOS mobile devices. This offers the convenience and flexibility of trading from anywhere. You can also sign in with individual credentials across platforms.
Market analysis with MetaTrader 5
- Technical analysis with MetaTrader 5
Technical analysis is an important aspect of trading financial assets online. The essence of technical analysis is to identify potential price patterns that are likely to develop in the future.
MT5 provides an excellent environment for technical analysts to perform in-depth price analysis on a wide range of assets. There are 38 technical indicators, 44 chart objects, 21 time frames, as well as the ability to add unlimited charts to your trading room.
Indicators are mathematical tools that help traders better understand price movements. The indicators are automatically applied to MT5 charts and for your convenience they have been divided into different groups indicating their application. These groups include:
- bill williams tools
- and custom indicators.
On the other hand, graphical objects are applied manually and include tools like geometric shapes, channels, Gann tools, Fibonacci and Elliot tools. There is also an option to add your own custom tools on the MT5 platform.
- Fundamental analysis in MetaTrader 5
In addition to technical analysis, there is also fundamental analysis, which examines how various economic, social, and political factors affect the forces of supply and demand for an underlying asset. Performing real-time fundamental analysis is now easier than ever on the MetaTrader 5 platform.
There are built-in tools that can be accessed directly from the platform, including financial news and an economic calendar.
- financial newsIt broadcasts major economic and political news from the international media and also provides the various global bulletins with relevant extracts for various tradable financial assets.
- As for the economic calendar, traders can follow real-time forecasts and releases of major economic and political events that are likely to have an immediate impact on financial assets.
MetaTrader 5 for mobile also has a news tab, as well as a separate Tradays (forex economic calendar) integration. The mobile version of the economic calendar is available in 9 different languages and supports alerts so traders can be notified of their favorite fundamental events to follow.
- MQL5 Community
MQL5 is the native programming language for developing trading robots, technical indicators, scripts and function libraries on the MT5 platform. But there is also the MQL5 community, which can offer various trading services to all MT5 users.
You can access the community and interact with other traders directly from your trading platform. You can also download, rent or buy various trading applications, as well as hire an experienced programmer to program your strategy, or you can even develop your own custom trading tools and strategies.
On the MQL5 market, traders can also purchase VPS (Virtual Private Server) services, which allow them to apply automated strategies 24/7 without interruptions, even when their trading devices are turned off.
Experience what constitutes safe investments. Open an AvaTrade account and start trading on MT5 today!
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Trading with MetaTrader 5 Top FAQs
Can you trade shares with MetaTrader 5?
MetaTrader 5 not only facilitates currency trading, but also allows stock trading. And AvaTrade has hundreds of top stocks to trade as CFDs on MetaTrader 5. The wide range of analysis tools and detailed order types make the MT5 platform ideal for stock traders of all types. You can even set up automated trading, which can be very useful for capturing breakout moves or trading range-limited stocks. MetaTrader 5 is the perfect state-of-the-art trading platform for trading all types of assets, including stocks.(Video) How To Setup and Use Metatrader5 MT5/MT4 like the Pros | FX114
Is MetaTrader 5 better than MetaTrader 4?
You might think that since MetaTrader 5 is the latest version of the MetaTrader platform that it would be superior to MetaTrader 4. And yet, more traders are still using MetaTrader 4. This is because the two are geared towards different types of trading. MetaTrader 4 is designed for forex trading and excels in this market. MetaTrader 5 was designed as a multi-asset trading platform and is generally best suited for trading assets other than currencies. It has more types of orders and more indicators and allows detailed analysis of any type of asset.
How much does MetaTrader 5 cost?
One of the advantages of using MetaTrader 5 as a trading platform is that it is free to use. With our demo account, you can download it and start analyzing assets right away. Many traders are very surprised by this, as MetaTrader 5 offers a lot of value to traders. However, we don't think you have to pay for the tools you need to trade. We make trading easily accessible to everyone, and part of that mission includes offering MetaTrader 5 for free to anyone who wants or needs it.(Video) How to setup MT4 or MT5/Hankotrade