MetaTrader 5 trading platform is a great option for traders who have more than one account, because the platform opens up the possibility of quick transition from window to window. Its use makes trading more comfortable and fast. The MetaTrader 5 platform is one of the most popular and used among traders. It is offered by many brokers, as it is convenient and efficient, understandable for beginners and experienced traders. If you haven’t made up your mind yet, the broker rating.
Metatrader 5 has many advantages over its analogues. There are virtually no disadvantages, and most traders who use it will agree, but there are disadvantages to any platform and MT5 is no exception.
Properties of MT5
There are many advantages, especially when comparing the platform to the previous version.
- Terminal provides an opportunity to use any orders. And this is important if a trader wants to implement a rather complicated strategy and implement it successfully. If you want to control your losses by using pending orders or at some point you need to “reverse a position” – the platform gives you this opportunity.
- In order to correctly determine the time of closing or opening, you must perform market analysis. This terminal provides five dozens of tools for analysis. Market dynamics will no longer be a mystery to you if you use twenty linear instruments and thirty technical indicators.
- The developers have integrated MQL5 into the terminal in order to extend its functionality. Thanks to this, a trader can make trading and analysis fully automatic by creating Expert Advisors. A trader can put the currency market analyst on it.
- The terminal has its own indicators that can be used to create personal analytical tools (something similar to built-in indicators).
- Presence of scripts that allow a trader to close by pressing the keys once.
- Terminal offers the user charts in many periods (21 in total). You can see both the minute and the month. If you want the entry point to be defined with higher accuracy and if you want to use a larger timeframe for additional trend analysis, please, all are at your service.
- If you use several charts at the same time, periods and instruments are different, it is worthless not to notice a good opportunity. In order to avoid such situations, the developers took care of the notification using trading signals. When the price changes and reaches a certain point, you will know about it at the same time. The client is also provided with the latest news and much more.
To list all the advantages of the platform there is no point, there are many more, so let’s talk about the disadvantages.
There are complaints that it is impossible to lock positions that are open. There are traders who replace with stop loss.
Some say that it is impossible to open several orders for one instrument at a time, and if a new order is opened for the same pair, the previous one is modified. But basically all currency traders are satisfied with MT5 and have no complaints to work and platform possibilities. Specifications – Windows 7, 2000, Vista or XP.
Today, this platform is popular, so almost every broker will be able to use the MT5.
List of Forex brokers using the MetaTrader 5 trading platform
- Alpari Limited
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