What is the MetaTrader 5(MT5) trading platform interface tool?
MT5 is the latest version of MetaTrader, a trading platform dedicated to general investors. It was designed by MetaQuotes Software Corp. and evolved from the most popular trading platform MT4 in history, just like the previous Meta Trader 4 trading platform MT5. A solution designed to provide trading orders for trading brokers while maintaining personalization and adapting to various device application scenarios to meet personal trading needs.
The MT5 platform was released in 2010 and gradually replaced MT4 as the main trading tool in the foreign exchange market. In order to encourage more investors to switch the trading platform to MT5, MetaQuotes will no longer issue new MT4 trading platform licenses after 2018.
Comparison of the advantages of using MT5 VS MT4 trading platform
The following MT5 improvements and enhancements have increased the usability and popularity of the platform:
- The trading volume reminder has now been added to the trade execution button. This function can display the number of asset units being traded, thereby telling the trader how much trading volume has been executed.
- Market depth information is now displayed directly in the trading interface.
- The log options will be displayed from old to new.
- Remove automatic copying of TP and SL settings from existing trading positions.
- MT5 provides 21 different time interval ranges, and now traders can observe the changes in trading quotes every second.
- Provides display of trading volume.
- add hedging trading.
- The trading volume is now displayed along with the asset price of the new position.
- Technical analysis indicators increased.
- Now you can use MQL5’s Trading Signal to convert EAs and indicators built using MQL4, and they can operate on the MT5 platform
- The new version of MT5 adds a chat room to communicate with other traders in the world.
Compare the difference between MT4 and MT5
MT4 | MT5 | |
---|---|---|
Time period | 9 | 21 |
Maximum number of charts | 128 | boundless |
UI interface | easy | harder |
Trading | There are no inherent restrictions on trading methods or strategies (such as scalping), unless modified by the broker. Allow hedging. | There are no inherent restrictions on the trading strategy, and hedging may or may not be allowed, depending on the account number. No hedging account uses the first-in first-out principle |
Economic calendar | no | yes |
trading analysis | 30 built-in indicators and thousands of custom indicators and EAs. Lack of market depth indicators. | 38 built-in indicators plus 22 additional analytical objects and 46 graphical objects. There are market depth indicators. |
Supported trading brokers | more | less |
MT5 support system interface
MT5 computer desktop program
The MT5 desktop software is a downloadable version of MT5, which is mainly provided on Windows version computers and MAC Apple operating systems.
The desktop version provides simulation and real account options, as well as more than 100 interactive charts, as well as more than 80 indicators and 21 time periods for in-depth technical analysis of currencies, exchange futures, stocks and spot metals.
MT5 web version online trading
MT5 Web Trader is a version of the MT5 platform based on the network protocol, which can be accessed from any browser or operating system without downloading any software. The trading broker will provide a unique URL from which the trader’s login details can be used to access the service. However, this is a simplified version of MT5 and contains only 24 interactive charts and 30 technical indicators.
MT5 mobile phone APP
The mobile version of MT5 has two formats: one for Android phones/tablets, and the other for iPhone and iPad. Just like Web Trader, the MT5 mobile application has 30 built-in indicators. Although it is a lightweight version of the platform, the mobile version of MT5 can send all order types and has one-click trading options. The MT5 trading application APP can be used on the Google Play store and iTunes.
MT5 multi-asset institutional platform
The MT5 multi-asset institutional platform is an ideal choice for investment brokerage business, with assets listed on the foreign exchange, stocks, exchange indexes and commodity futures markets. It is an all-in-one interface that supports white label licenses, enhanced backends, exchange connections, and numerous APIs for website integration. Unlike MT4, MT5 has a complete hedging function.
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Reference
What is the MetaTrader 4, 5 trading platform?
MetaTrader wiki
metaquotesofficial website