Find the best brokers with metatrader 5
The following list shows the main brokers with Metatrader 5. This directory includes mainly companies regulated by important bodies such as CySEC and FCA. For each broker, data such as the minimum deposit, trading platforms offered and a link to the broker’s website are included.
FCA, CySEC, ASIC, DFSA and IFSC
MetaTrader 4 + MetaTrader 5
FCA, ASIC, DFSA and SCB
MetaTrader 4 + MetaTrader 5 + cTrader
CySEC, ASIC and FSA
MetaTrader 4 + MetaTrader 5 + cTrader
Webtrader + MetaTrader 4 + MetaTrader 5 + cTrader + Mobile App
CySEC and ASIC
MetaTrader 4 + MetaTrader 5 + IRESS
CySEC and IFSC
MetaTrader 4 + MetaTrader 5 + Mobile App
FCA, CySEC, FCSA and FSC
MetaTrader 4 + MetaTrader 5
FCA and SCB
Webtrader + MetaTrader 4 + MetaTrader 5 + Mobile App
MetaTrader 4 + MetaTrader 5 + cTrader
What is Metatrader 5?
It is a multi-broker trading software for investing in Forex, stock exchanges (shares) and futures.
Like its predecessor, the MT4 was developed by the company MetaQuotes Software Corp. in 2015 and is one of the favourite platforms among programmers. However, despite offering better tools, due to its complexity MT4 remains the preferred software among trailers.
MetaTrader 5 is a difficult to use platform that requires previoustrading knowledge and, if you want to experiment, programming knowledge. However, it offers a complete trading experience, as it is a powerful tool with infinite possibilities, functions, etc.
Why Metatrader 5?
As with all evolutions, Metatrader 5 is a much better platform than Metatrader 4 (See Brokers with Metatrader 4).
The evolution is aimed at improving the existing product, but the success of Metatrader 4 is such that many traders are reluctant to change their platform.
I believe that if they had the same programming code, and the indicators and Expert Advisor were used for both platforms, the change would not be so traumatic.
You must know, that if you decide to change the platform, your custom indicators will not work, and you must reprogram them.
Despite the drawbacks, these are the great improvements of Metatrader 5:
1. Metatrader 5, can be connected to several servers.
2. Another great advance is that Metatrader 5 will be able to connect with financial institutions.
3. It will be possible to obtain reports in XML.
4. More time frames for making trading decisions.
5. More graphic tools.
6. The Mt5 tester is going to be much faster than the Mt4 tester.
7. Funds can be transferred between accounts.
8. Access to market depth, provided that it is offered by the broker. You know that only DMA Brokers have that option.
Differences between MT4 and MT5
Meta Trader 5 differs from MT4 in that it uses the MetaQuotes language (MQL5), a favourite of programmers and particularly suitable for users involved in the development of algorithmic/automated operations systems (robots).
It has an ‘MQL5 Storage’ where you can save the codes you have created or selected from the MQL5 community platform. This way you can use them in a simple way: with a click the code is automatically placed in the folder you indicate and it performs the operation you have ordered.
MT5 is more suitable for the US markets as it complies with US standards.
What is so special about it?
- Execution Modes + Order Types: Offers four execution modes: Instant, order-based, market-based and exchange-based. A wide range of orders is available, including market, pending and stop orders, as well as trailing-stop.
- Technical analysis: analytical capacity is one of the most outstanding tools of the MT5, being able to open up to 100 charts simultaneously with stock and currency quotes.
- It also has 21 time periods that allow you to study each one of them in detail and perceive market movements in time.
- Fundamental analysis: this tool will help you to forecast the dynamics of quotes. Its task is to examine various economic and production indices from open sources so that you can make the best investment decision. It also offers an economic calendar where you can find the main macroeconomic indices of different countries so that you can predict their impact on the prices of financial instruments.
- Trading signals and copy trading tool: provides subscription alerts for signals that can be used both in the demo and live accounts.
- It has social trading, with which you can copy the operations of other users.
- Virtual Host (VPS): metaTrader 5 works even when the computer is turned off. In just a few clicks, you can create a virtual copy of your trading platform and run it on a remote server (Forex VPS).
- MQL5 Community: in this forum you can hire trading robots – we explain below what this is all about – share experiences with the trading community, check calendars with special trading dates, articles, chat where you can communicate with other users and even manuals to improve your trading.
- MetaTrader Market: Now, within this forum (‘MQL5 Community’) you can access the MetaTrader Market, the ‘shop’ of trading robots or technical indicators developed by companies or other entities, where you can buy, rent or download the software free of charge.
Although you can program your own robots and indicators, you can only do so in the available programming language, MQL.
- There is no version for MAC and the download process is a bit tedious for Apple users. However, in these cases you can also use the Webtrader that works online.
- It is a software for experienced investors.
What platforms does MT5 support?
The MetaTrader 5 platform is currently available for the following formats:
MetaTrader 5 Web Trader
MT5 Web Trader is a platform that can be accessed from any device with Internet access through browsers such as Google Chrome, Mozilla Firefox, Safari and other browsers.
It is a light version and can be easily opened even with a low internet connection.
MT5 Desktop Client
The MT5 desktop client is designed for computers running Microsoft Windows, Mac OS and Linux.
The platform offers the possibility of creating real and demo accounts.
On a technical level, it offers about 150 interactive charts, 21 currency analysis time frames, at least 90 indicators and several more required for Forex trading.
MT5 Mobile Application
The MT5 mobile application is available for Android devices and devices with the iOS mobile operating system.
It has nearly 50 built-in indicators and offers one-click trading.
Once you open an account in your favorite broker, you can access it by downloading the App provided.
Factors to take into account when choosing a MT5 broker
- We recommend that you choose a broker with MT5 that has been established for at least 2 years. If possible, if there are 5 of them, much better.
- It is important that your broker has an international presence in several countries, as it is a signal that generates confidence.
- Check that the MT5 broker you like best has a good customer service in your language.
- It is essential that your MT5 broker is regulated by a jurisdiction that offers guarantees such as FCA, CySEC..
- Make sure the minimum deposit to open an account meets your needs.
- Take a look at all the assets that a particular broker allows you to trade. Are they enough?
- Check and compare the spreads of different brokers.
- Check that your broker allows you to deposit and withdraw your money quickly and easily.
- The free training that a broker can offer is always welcome: a good broker should offer seminars, webinars and possibly offer training courses in their own Trading Academy.
HOW DOES METATRADER 5 WORK?
Throughout the official MT5 website, indices, currencies, stocks and products offer their clients an enhanced way to trade in the world’s financial markets, and to obtain their financial needs through a fast trading platform like MT5.
A daily trader works with the purpose of obtaining maximum profit from daily movements, making different combinations and financial assets with absolute synchronization on trading positions, which can be opened for a few hours up to a few minutes.
To become a successful daily trader, it is very important that you use a perfect and powerful platform, which contains all the advanced trading functionalities, which can be:
- Mathematical tools
- Technical tools
- All the basic fundamental tools of analysis
These tools will help you be aware of entry and exit points, and help you increase your critical thinking and synchronisation.
HOW TO START TRADING WITH METATRADER 5 (MT5)
Day traders love the MetaTrader 5 platform, which has several asset categories and no imperfections. MetaTrader 5 is named as “the fastest, most profitable, and most reliable trading platform in the world” MT5 allows day traders to trade by choosing the best conditions to do so.
With the world’s reliable and secure brokers, such as licensed ones, working with them is really easy and fun. You can open a live demo account with free balance to discover new skills in MT5. It can be done by following a few simple steps. And it is the best platform that will allow you to discover new skills and all the new unique trading features.
Once you open MT5, you will find a very simple platform. You will be able to visualize all the basic and key elements of this user-friendly and simple interface, which will help you to ease your daily trading routine.
All commands can be accessed very easily and simply from the top menu bar, which includes the following:
These functions are very useful for anyone to set up their own tables with indicators, some great analytical tools, and several custom configuration options that will help you create your own personalized trading environment.
Just below the menu bar, you will find different built-in tools that will help you duplicate some of the most important commands and features you can already find in the main menu.
These tools are customizable and are very useful for creating a personalized environment, which allows you to change the types of tables (line graph, bar graph,). The timing of the charts can also be adjusted accordingly and many amazing features can be achieved using these built-in toolbars.
Market Watch Section
On the left side of the table, you can see the Market Watch section. If you open the Market Watch section, you will be able to view and observe the prices of the selected financial combinations, such as EUR/USD, GBP/USD, oil and gold, which will be arranged for you to view.
This section can provide you with useful information such as specifications and details about various financial contracts. You can also perform some trading operations with a single click.
THE TOOLBOX SECTION:
Below the tables you can clearly see a toolbox section where you can follow the evolution of opening trading positions, as well as follow your pending trading orders, and you can modify them as you see fit (modifying them to stop loss or to get profit or maybe to limit prices, etc.).
This versatile and multifunctional window can be used to access useful and important information that can help you with your trading operation, such as
- The story of the account
- Internal mail
- Expert publications
MT5 IS A VERY SIMPLE AND PRACTICAL TOOL FOR TRADING
As you can read from the information provided above, you may have concluded that the MetaTrader 5 interface is quite simple and contains all the techniques, tools and trading information needed to start trading and conquering markets.
The different menus, toolbars and service windows demonstrate that it is a single, highly customisable user interface, which increases MT5’s simplicity and makes your trade quite flexible and easy.
HOW TO PLACE YOUR FIRST ORDER IN MT5
If you have no doubts about your skills as a trader and you really want to place your first order in MT5, then you should follow these simple steps
STEP 1: Click on the Market Watch Window
Once you have chosen your financial instrument and are fully ready to trade, click on the Market Watch Window.
STEP 2: Select New Order.
After clicking on the Market Watch Window, select “New Order” from the pop-up menu.
STEP 3: Decide what type of order you want to place.
After selecting “New Order”, you will need to decide what type of order you want to place: immediate, new or pending.
IMMEDIATE ORDER SELECTION:
If you select to make an immediate order, it is important to determine:
- The size of your volume or position.
- The levels of profit making and loss restraint.
Then click on “Buy” or “Sell”, depending on what is best for you, and your order will be processed at the next available price with one click.
If you want to place a pending order, you must take into account
- The type of order you are going to place. The type of order can have a Buy/Sell limit, a Buy Stop limit, Sell Stop or a Stop Buy/Sell.
- The price at which you will set the order is very important.
- The determination of the size of your position or volume.
- You must determine the levels of your profit and stop losses.
STEP 4: Place Your Order
Then, simply click on “Checkout” to finish the order.
As soon as the order is placed, you will be redirected to the bottom of the app interface.
DO YOU WANT TO PERFORM AN AUTOMATED OPERATION OR A COPY OF THE OPERATION?
Whether you want to perform an automated trading operation or a copy, that won’t be a problem!
MetaTrader 5 (MT5) is a very versatile platform and has all the functionalities you need from a modern platform.
MT5 is a “multi-asset, multi-functional platform” that offers exceptional and endless trading possibilities and amazing technical analysis tools. It also allows the use of automated trading systems (trading done with automatic robots) and also offers the function of copy trading.
So, MT5 can be considered as one of the all-in-one platforms for trading forex, futures markets, stocks, and can also be used by day traders who want to automate their trading strategies. It can also help those traders who prefer to copy trading strategies from famous traders from all over the world to gain experience and be successful.