Following on from its success with MetaTrader 4, MetaQuotes Software decided, init was time to launch a new updated version. MetaTrader 5 has yet to reach the same height of popularity, best there are many reasons you should consider giving it a try.
There are also a number of MT5 Forex brokers to choose from which will make the decision much easier. Metatrader 5, otherwise known as MT5, is a new trading platform launched by MetaQuotes Software in It has a number of features forex covered with the previous incarnation and still supports Expert Advisors, custom indicators and scripts.
It also has some exciting extra features such as the improved strategy testera built-in market for trading, news events objects and is far more flexible when it comes to the development environment. Even now, it is still offered alongside MT4, rather than as a standalone platform. And it still tends to be Forex they plump for.
Traders can trade in stocks, options, futures and foreign currency broker. There are 82 different tools including graphic objects, as well as technical indicators, and more than charts that can all be opened at the same time. It is possible to choose from four different types of order execution.
Instant orders, where a dealing desk may send re-quotes. Market orders are also possible, with the best possible market price. Request orders with acceptance pending.
Mt5 exchange order matching amongst traders. As well as a good choice of execution there are also three different types of order to choose from. A pending order that will be placed as soon as the mt5 meets certain preset conditions.
And stop orders that are the type of order to place best a trader wants to minimize losses and take profit. Placing orders via MetaTrader 5 is going to be very easy, with the useful hotkeys feature, that places them via the quotes dialog or direct from an instruments financial chart.
MT5 keeps traders well informed by providing order details, prices, stop orders, volumes and the profit or loss of selected positions. MT5 is new, but in essence, it is very similar to MT4. But as you broker more experience you might want to consider something with lots of new features and more options than you could ever possibly need. While MT4 is the preferred trading platform for almost all Forex brokersthere are a number of brokers choosing to add MT5 as an extra option.
It will be up to you to make that decision for yourself. There are good and bad points for both of them, and we would advise you try them both for size. Possibly with the help of a demo account in the first instance. In general, MetaTrader 5 is far more versatile than its predecessor, which allows far more opportunities for individuals to make more money and execute more transactions. But if you prefer to keep things broker, and be in firm control of your risk then you might be better sticking with MetaTrader 4.
But it does pay best explore other options and weigh up the advantages and disadvantages of them all. And remember, while MetaQuotes may have cornered the market in trading platforms forex are a number of Forex brokers offering their own in-house mt5. So, it will pay to shop around. Top Forex Brokers Reviews ECN Brokers Forex Signals Forex Robots Trading Academy Forex Bonus.