Metatrader 5 or MT5, as it’s popularly known, is a popular online trading platform that allows traders to handle multiple assets such as Forex, stocks, futures, and CFDs. This platform was developed using MQL5, which is a special programming language that gives it multiple functionalities.
Apart from allowing traders to trade a wide range of assets, the platform makes available a number of advanced tools which traders can easily carry out both the technical and fundamental analysis, and trade in a much better manner. Additionally, the multi-asset trading platform enables
automatic trading with the assistance of trading platform.
So whether you are a beginner or a pro trader, the Metatrader 5 broker trading platform can help you achieve your trading goals. It’s a platform that can help you trade currencies with great ease.
In this article, we discuss the main benefits of trading currency with the Metatrader 5 Forex Broker.
Benefits of Trading Currency with the Metatrader 5 Forex Broker
- Unlimited Charting Options
The Metatrader 5 platform offers multiple charting options with advanced charting capabilities for currency traders. Traders can open up to 100 charts. This feature allows you as a trader to trade currencies and analyze the technical aspects of the forex markets simultaneously.
You can even change the styles and colors of the charts, and even load preset templates that reflect your personal preferences. Even better the new platform comes with 21 time-frames (1 minute to 1 month).
- Fundamental Analysis
As a trader, having the ability to predict the movement of prices on the market is something you dream to have. Lucky for you, the MT5 lets you carry out fundamental analysis with great ease. It comes with an inbuilt calendar that comprises of recorded news events provided by international news agencies and their impact on the price, price forecasts, streaming quotes, and schedules.
This helps you to predict the movement of prices of a wide range of currencies.
- Offers Scope For a Larger Analysis
The MT5 trading platform provides you with a good number of analytics tools for price analysis as well as price forecasting. With its 80 analytical objects as well as built-in technical indicators, 38 technical indicators, 39 graphical objects, 4 scaling modes, and 17 client indicator display styles, the platform offers scope for larger analytics.
These exceptional tools are meant to assist you prepare for even the slightest changes on the markets. Another aim is to give you a trend analysis that is highly advanced to help you tweak trading strategies and refine them while the trading is on.
Additionally, these tools will provide latest news events as well as historical data for more successful trading.
Offers More Orders
The previous Metatrader 4 or MT4 offered currency traders only 2 market orders and 4 pending orders. The new MT5 platform comes with additional capability which allows you to place 2 orders and 6 pending orders. It also allows you to place up to 2 loss orders, which is pretty incredible.
- Automatic Trading
The MT5 trading platform comes with an algorithmic or robotic trading feature, a fascinating automatic trading feature that analyzes the forex market and trades on your behalf. All you have to do is make up a trading strategy and set specific trading instructions.
- Offers Inbuilt Advanced Reports
The Metatrader 5 broker trading platform lets you conveniently and quickly analyze trading activities with the help of its inbuilt advanced reports. Besides helping you analyze trading activities, these reports will also help you in tracking the initial and final deposit values. Additionally, the reports will help you to better understand a wide range of indicators such as Profit Factor, Z-score, GHPR, among others.
- Commercial Integration
Another excellent aspect of the MT5 trading platform is that it allows you to either buy or rent any forex product directly by using the “Market” tab on the platform. Purchasing these products will greatly enhance your MT5 trading platform’s functionality, giving it limitless capabilities.
- Enjoy a Great Deal of Flexibility
The MT5 platform allows you to enjoy great flexibility as you can easily trade currencies right from your tablet or smartphone. Because the platform is supported by a wide range of devices, all you have to do is choose one that best suits your time and trade currencies anywhere, anytime.
- Easy Navigation
The Metatrader 5 broker trading platform presents an extremely user-friendly interface. This is especially beneficial if you are a new trader as you can easily execute trades and perform other functions. Also, the interface has larger icons and buttons for easy, hassle-free navigation.
As a new trader, everything involving the Forex market can be overwhelming. The advantage of using the Metatrader 5 is that it lets you trade with great ease. It’s a trading platform that comes with lots of features to assist you to make winning trades.
About The Author
Name : Daffa Zaky
With over 7 years’ experience in the heart of the investment industry, Daffa Zaky has become one of the most respected commentators in the financial world. Daffa remains a keen forex, stocks, bitcoin, commodity, cryptocurrency and binary options trader and is a regular featured analyst for a number of online news portals and was responsible for FXDailyReport.com