MT5 Download & Installation Guide For Beginners
The first and foremost requirement for trading is fully functional software loaded with all the basic and essential tools you would need for trading in any asset class. This software is a trading platform connecting the trader to the dynamic currency market virtually. There are a number of sophisticated softwares that you can choose as your platform for trading. But each of these softwares has its own uniqueness that makes a huge difference to the trading experience you get while using each. Today, we will be talking about one of the most popular and advanced trading platforms, MT5, which millions of traders worldwide use. In this article, we will cover everything about MT5 along with an installation guide for beginners.
What is MetaTrader 5?
While talking about MetaTrader 5, we can’t go without mentioning its much-celebrated successor called MetaTrader 4. MT4 is a well-known name for most traders as it emerged as a standard forex platform. The platform was introduced to traders in 2005, and MT5 entered the forex market after 5 years in 2010. Although MT5 was initially introduced as the advanced successor of MT4 with more tools and features, the developers: Metaquotes corporation, promoted it as a multi-asset trading platform suitable for trading many different asset classes and not just forex.
MT5 was well-received by modern traders as they were looking forward to a technology driven platform with added tools, features and next-level capabilities to support complex trading processes. Still, many traders haven’t started exploring the MT5 space as the number of brokers offering the option to download MT5 is lesser in comparison to traditional MT4 brokers. But nowadays, many more brokers are trying to integrate MT5 as it is climbing up the popularity ladder as innovative and feature-rich trading software.
With MT5, you will get 38 built-in indicators along with the option to add more custom indicators and 44 graphical objects that allow you to perform detailed and in-depth technical analysis. You also have options of 21 time-frames for analysing the market situation. Besides these, MT5 is a perfect place for algorithmic trading or automated trading as it has all the tools needed for trading automation. You can easily employ advanced EAs or robots to trade on your behalf.
Top Reasons to Trade on MT5:
- Customisable charts with numerous options to choose from
- Advanced tools and features that are designed to give a superior trading experience.
- Can easily navigate different markets and asset classes.
- The community chat feature is available.
- More stable and faster than MT4.
- Algo trading is better on MT5.
Where To Download & Install MetaTrader 5?
MT5 can be easily downloaded on almost every device and operating system. You can just go to the app store or play store for mobile download and search for MetaTrader 5. You will get to see the mobile app version of MT5, which can be easily installed on your smartphone or tablet. To download MT5 on your pc or laptop, you will have to visit the official website or just use the MT5 download link provided by your broker.
For this, you will get a setup file that helps you install the MT5 software, and the download will begin once you start running the installer. But since MT5 is just a trading platform, you will have to open a trading account with a broker that supports MT5 trading. Then, you can register to open an MT5 account, and the broker will mail you the login credentials. Then, you can log in to MT5 using this login information provided by your broker.
Finding a broker that offers MT5 as a trading platform is essential for MT5 trading. Unfortunately, some brokers haven’t integrated MT5 into their websites yet, but you can surely find a lot of top brokers that offer the complete MetaTrader suite, which includes both MT4 and MT5 as trading platforms. That way, you can try trading on traditional and modern versions of MetaTrader and choose the best one.
Benefits of MT5:
- Higher Security Standards- The security you get with a trading platform needs to be considered before you start trading. Trading involves transferring funds, and the transactions must be done in a secure environment, especially with the number of security threats we face while working online. MT4 is highly secure for trading, and users’ data will be protected in all situations. But MT5 uses advanced security measures, making the platform even more secure than its predecessor. So that way, MT5 users get access to advanced security features, which is a major benefit that you get while switching to the sophisticated platform.
- Built-in VPS- VPS services have become an inseparable part of trading for many of us. Opting for a VPS would ensure seamless connectivity and uninterrupted trading in all situations, even when there are issues like power outages and slow internet. This is especially useful in automated trading as traders may need help to keep their PC on for extended hours, which may result in missing good trading opportunities. The built-in VPS you get with the MT5 platform can be a feasible solution for all these problems.
- More Options- MT5 gives you a lot of options for everything, from pending order types to order filling policy, customisation of charts and timeframes, indicators and analytical objects. You will always have options to choose from, and there will be something suitable for each and every trader irrespective of your trading style. Hence, the scope of MT5 trading is wider with the numerous options you get, which can benefit all traders alike.
With that, we have come to the end of this guide and hope you all have understood the basics of MT5 and the download and installation process one must complete before trading on MT5. But I want to remind you that the MT5 platform can often look a bit complex for a first-time trader. Still, MT5 has definitely retained the user-friendliness of MT4 in many aspects, and even new traders can learn to trade on MT5 with some learning and practice. So, take some time to explore this advanced trading software, which could be your first step for a successful trading journey.
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