If you are in trading for a number of years, then you should try Metatrader 5.
What is it?
MetaTrader 5 is a multi-asset platform that will help you trade in the Forex market, as well as futures. The platform provides the following features:
- technical analysis;
- algorithmic trading;
- copying trades of successful traders;
- writing your own technical indicators and trading robots.
The platform has all the conditions for comfortable trading in currencies, stocks and other instruments.
MT 5 gives freedom of action. That’s why the user is not tied to a computer and can fully trade using smartphones and tablets. The web platform gives even more freedom and allows you to work from any web browser on any device. It allows you to stay in the workflow constantly.
MetaTrader 5 has a lot of advantages superior to its counterparts. If we talk about the disadvantages, there are not so many. However, in any platform you can find cons, MT5 is no exception in this case.
MetaTrader 5 has built-in trading market robots, developers exchange of trading strategies, copying service of other traders, and renting a virtual platform.
What are the benefits of MetaTrader 5?
If we compare the service with the previous version, then the platform has many advantages:
- The terminal provides an opportunity to use any orders. It is important if a trader wants to implement a rather complicated strategy and implement it successfully. If you want to control your losses using pending orders or at some point you need to “turn the position” – MT5 gives you this opportunity.
- In order to correctly identify the moment of closing or opening, you must analyze the market. This terminal provides about 50 tools for analysis. Market dynamics will cease to be a mystery if you use 20 linear tools and 30 technical indicators.
- The terminal has its own indicators that can be used to create personal tools for analytics.
- The presence of scripts which allow the trader to implement closing.
- The developers have created an alert using trading signals. When the price changes and reaches a certain level, the user will know about it at the same moment. Also, the client is provided with current news and many other functions.
MT5 offers the user charts at many periods. The user can see minute and monthly charts. At the same time, you can set an entry point with high accuracy, as well as a timeframe for trend analysis.
What are the disadvantages of the platform?
There are not so many disadvantages of MetaTrader 5, but there are:
- Times when it is impossible to lock open positions.
- Cases when it is impossible to open several orders for one instrument at once. And if a new order is opened for the same pair, the previous one is modified.
These are not serious problems worth paying attention to. Moreover, developers are trying to improve the platform. Today MetaTrader 5 is popular, so each broker will provide the opportunity to use the MT5 terminal.