If you seek a next-generation trading platform, MetaTrader 5 is here to meet your requirements. MT 5 is the upgraded version of the MetaTrader 4, which is popular among cryptocurrency traders. The upgraded version of MetaTrader comes with the facility to accommodate multiple asset classes. Therefore, the multi-asset platform will enhance the overall trading experiences. Visit multibank group
How Can You Trade on the MetaTrader 5?
Trading on the MetaTrader 5 depends on the features and resources available on this platform. The platform comes with advanced features that help traders obtain a better experience. The traders must ensure that they learn the features well before commencing trading activities. At first, you need to check the asset classes, and there are seven asset classes.
Besides the seven asset classes, you will find numerous tools, graphical objects, and indicators. Availability of arrays of features and indicators is a good thing, though traders should properly understand these features. Thus, you should spend time educating yourself before commencing financial investment activities on this platform.
Types of Traders on the MetaTrader 5
Using MT 5 is beneficial, as you will find multiple trader options on this platform. So, what can you trade on this platform? Users can trade forex, stocks, options, commodities, and other items. In the following section, find what you can trade on this platform.
- Stock CFD: The platform offers advanced tools for trading in the stock CFDs. CFD stands for the Contract for Difference, allowing users to speculate the future market movements of the forex, stocks, indices, commodities, etc. Using the MT 5 platform, a trader can invest in both short and long CFDs. Most traders prefer day trading with the CFDs, as short-term trading can fetch better profit and minimise risks.
- One-Click Trading: The MT5 trading platform comes with arrays of one-click trading options, and you can also use the mobile application for availing of such features. The one-click trading options are suitable for corporate employees, business owners, and other professionals. Through one-click trading, you can save time during busy working hours. The users can predefine the sell limits. Moreover, you can set a sell-stop to reduce the risks.
- Trading Robots: New traders are hesitant, as they have confidence issues while investing in stocks, forex, and commodities. A robust trading robot can boost your confidence in decision-making. The trading robot of MetaTrader 5 enables both copy and algorithmic trading features. Using the robot, users can also develop automated strategies for buying and selling stocks. An automated process reduces error and saves time.
- API Trading: If you have started using MT 5, you will find an API trading option on this platform. This notable component offers projections of real-time prices. So, you can place orders with more confidence. Traders can use the API trading feature for forex, CFDs, and other trading options.
Know the Order Types of MetaTrader 5
The forex calendar users should know about the order types of the MetaTrader 5. Grossly, the platform comes with two fundamental order types: Pending and Market. When you use a market order, you buy or sell the assets at their current prices. You will find real-time execution of the order through this order type.
On the other hand, a pending order is a scheduled order. In other words, you can schedule an order of buying or selling assets in the future at a certain price. Using the trading robot, you can automate the buying or selling process for the pending orders. Therefore, you will not miss an opportunity to grab the most profitable deal through MT 5.
Overall, the MT 5 platform offers six pending order types. Find them in the following section.
- Buy Stop: The Buy Stop is an order to purchase an asset at a higher price than the current price. The traders expect that the trend will continue to be higher when a stock achieves a particular value.
- Sell Stop: You can use the Sell Stop to sell an asset at a lower price than its current price. In such cases, traders assure that the price will continue to fall. Therefore, selling on a particular value will minimise the losses.
- Buy Limit: You can use the Buy Limit order to purchase an asset at a lower price than its current market price.
- Sell Limit: Traders use this order type to sell an asset at a higher market price than its present price.
- Buy Stop Limit: The Buy Stop Limit is a combination of Buy Limit and Buy Stop orders. Such order types can eliminate the slippages.
- Sell Stop Limit: This order combines the Sell Limit and Sell Stop orders. You can prevent slippages using such orders.
The Benefits of Using MT 5
If you want a mobile-friendly forex calendar, the MetaTrader 5 is the best option. The platform comes with a responsive interface, which you can access from both desktop and handheld devices. Find some other benefits of this platform in the following section.
- Feature-Rich: Traders will find the MetaTrader 5 more feature-rich than the previous version of the tool.
- Safety and Security: The platform offers safety for your personal and financial data. Users should keep their login credentials confidential.
- Trading Instruments: You will get various choices for trading instruments on this platform. Therefore, trading is easier using MT 5.
- Resources: Beginners look for platforms that offer resources to teach about different strategies and options. The MT 5 platform is a perfect option for beginners.
For many years, MetaTrader has been a trustworthy platform for the forex and stock traders. With the advent of time, the platform has adapted robust features to make trading simplified. The new MT5 offers a myriad of features to the users. The trading experience of the users will get optimised with this tool.
