(Newswire.net — March 1, 2021) —
The MetaTrader 5 is one of the most misunderstood platforms on the market, not least because it was wrongly considered to be the successor to the MT4 following its launch in 2010.
However, it’s actually a completely different and more advanced platform than the MT4, the latter of which is synonymous with forex trading andcurrently drives 45% of trades in the foreign exchange.
In this post, we’ll take a look at what the MT5 really has to offer, while appraising the top reasons for selecting this as your trading platform of choice.
You Have a Broad Trading Portfolio
At its core, the MT4 was designed for the purpose of trading forex, which is why it has virtually no limitations at all within this market.
However, while the MT5 has some specific rules to be followed and is not ideal when currency trading, it alsooffers access to a broader range of asset classes including stocks, commodities and even bonds.
This makes it ideal for more advanced investors who boast a diverse portfolio of interests, particularly those who operate as day traders in selected markets and need a platform that’s robust, reliable and ultimately powerful.
It Offers Outstanding Ease of Use
Despite being a more advanced platform that offered access to a broader range of markets, the MT5 maintains the same type of ease of use that made the MetaTrader 4 so popular amongst currency traders.
Firstly, the MT5 offers a seamless and real-time trading experience across both desktop and mobile platforms, the former of which boasts superior tools for comprehensive prices analysis and even algorithmic trading through trading robots and expert advisors (EA).
The platform also utilises the MQL5 language, which is automated software and safely executes easy to comprehend and program orders on your behalf.
It’s even relatively easy to create (and optimise) your own EAs with the MT5, while the platform’s excellent, ready-to-use expert advisors can be readily downloaded and utilised for free from the Code Base resource.
It has a Wide Array of Execution Modes
The MT5 offers a total of four execution modes (which is two more than the MetaTrader 4). These are instant, request, market and exchange execution, while the platform also supports two market orders, six pending orders and two stop orders.
Beyond this, you can also access 100 stock or asset charts at any given time, while the availability of 21 timeframes enables real-time and in-depth analysis of even minor price movements in the market.
Additionally, there are in excess of 80 technical indicators and 44 analytical objects available to traders, making it easier than ever to perform live and historical analysis and execute more informed orders.
This certainly adds to the appeal of the MetaTrader 5, especially for advanced users who rely heavily on comprehensive trend and market analysis.