David Morey 
The trading world is undergoing a digital revolution. Trader skills and intuition do not suffice in new conditions – proficiency with up-to-date trading tools is a key factor for success.
MetaTrader tools, such as MT4 and MT5 for PC, are among the most renowned solutions for traders, chosen for their ease of use and abundance of handy features.
In this article, we’ll cover MetaTrader 5, the perfect solution for traders wishing to test their skills in various trading domains – from forex to cryptocurrency and commodity trading and more.
Let’s get started!
What is MetaTrader5 and Why Is It a Powerful Trading Tool?
MetaTrader 5 was initially designed as an update to MetaTrader 4, or MT4, a widely used tool for Forex trading. First, MetaTrader 5 aimed to become an enhanced version of MT4 and replace the former, yet they both found their audience.
MetaTrader 4 is a leading solution for forex traders, while MetaTrader 5 has strong positions in other trading domains and is preferred by traders operating in various markets.
MetaTrader 5 is built using the programming language MQL5, which was specifically developed for this purpose. MQL enables the rapid development of high-performance solutions, which is why it supports real-time updates, alerts, calculations, and more.
At the same time, MetaTrader 5 doesn’t require a steep learning curve, allowing beginners in trading to learn the key features quickly and start trading from day one.
Key Features of MT5
MT5 has all the necessary features to start trading, and its interface is so intuitive that it doesn’t take much time or effort to learn. Here’s the list of key features to illustrate why MT5 is a good tool for starters:
- Clear Charting Tools
MT5 supports multiple timeframes, allowing you to select and check market indicators for any period of interest. It is possible to select between 21 different time frames, which are presented in the form of real-time charts with zoom and scroll functions. Technical Analysis
- Built-in technical indicators
MT5 features 38 built-in technical indicators, including RSI, MACD, Moving Averages, Fractals, Triple EMA, and Adaptive Moving Averages. There is also the possibility of adding custom indicators. In the tool, there are also graphic objects, such as trendlines, Fibonacci tools, shapes, and arrows, which enhance the system’s visual presentation and make it easier for a beginner to master those indicators after a few hours of learning.
- Automated Trading
MT5 allows for the backtesting of strategies. It is based on historical data and supports multiple expert advisors built using the MQL5 programming language. Expert advisors (EAs) are automated trading programs that analyze the market on your behalf, follow preset rules, and execute trading tasks, thereby handling a significant amount of routine work that would otherwise be done by a trader. You can use EAs for tasks built with any logic, such as scalping, trend-following, grid trading, and martingale.
- User-friendly Order Execution and Management
MT5 tool supports six different types of pending orders: Buy Limit, Sell Limit, Buy Stop, Sell Stop, Buy Stop Limit, and Sell Stop Limit. Additionally, all versions, including desktop, web, and mobile, support one-click trading and trailing stops.
- Security and Reliability
The MQL5 supports secure programming and data protection. It is also known for enhanced reliability even in cases of high data loads. For enhanced security, MT5 supports two-factor authentication, providing an additional layer of protection for your data.
- Push Notifications
Every time a price change or another important event occurs on the market, the system sends an alert about the developments, allowing traders to react in a timely and on-the-go manner so you don’t miss an important moment.
Why Is MT5 A Good Tool to Start Trading?
As mentioned, MT5 has a simple interface that is easy to learn for both experienced and novice traders. Moreover, the app visualizes most of the experiences, so anyone can use it almost intuitively. The starter-friendly features summarized are as follows:
- Ease of use: The clean, intuitive interface, simple navigation, and straightforward functions, such as placing trades and analyzing charts, are easy to learn.
- Straightforward set-up: You can download and install the tool in minutes, even if you don’t have any skills with software like this.
- Simple charting tools: MT5 charting tools are powerful and appreciated by professionals of different levels, yet they are also easy to understand.
- Demo account support: This feature enables you to practice strategies in a sandbox powered by real-life market data. It helps you gain confidence in your strategies before spending real money.
- Introduction to Algorithmic Trading: If you are interested in algorithmic trading, the Expert Advisors feature is available. Expert advisors are pre-programmed programs that follow preset algorithms, allowing traders to automate their trading significantly.
- Powerful community: MT5 is a robust learning ecosystem featuring thousands of educational materials designed for beginners who are considering MT4 as their trading tool. The community also offers forums, meetings, webinars, and a large and friendly community to support.
Summing up
With its extensive features and clear visuals, MT5 is an ideal tool for both beginners and seasoned traders to develop and refine advanced trading strategies.
