The MetaTrader5 is the next generation metatrader platform from MetaQuotes. It follows the widely successful MetaTrader4 platform, which has become the industry standards.
Even though the MT5 has yet to achieve the stellar success that is MT4, the markets are slowly building up to the complete adoption of the MT5 trading platform.
The following are the most important reasons you should use the MT5.
Create Technical Indicators
One of the biggest benefits of the MT5 platform is that you can create your technical indicators. That means you are not limited to using the built-in functions on the trading platform.
It possesses the MQL5, which is high performing programming language. The coding language is simple, so you can create your own trading robots or expert advisors.
Using the MT5 platform, you also benefit from better management capabilities and features. You can fill orders using multiple deals will be much easier too.
In other words, you can use hedging strategies, in which you can open two positions on the same asset at the same time.
Access to Multiple Market
For others, the main difference of the MT4 and MT5 trading platforms is that the former specializes with the forex market, while the latter can be used to different markets.
You won’t only be able to trade in the decentralized forex market. You will also have access to the stock market and other centralized market, opening the way for more chances of profits. You will also effectively use different multimarket strategies.
Real-Time Volume Data
When you’re a trader, access to real-time information is a very important resource. With the MT5 platform, you have access to real volume-traded data.
Other platforms only offer tick volume data, which is the number of price changes that have occurred in the course of the bar.
Using the MT5 trading platform, you can download and analyze the tick history. Previous, you had to download the tick history manually using MT4. Obviously, that led to a lot of different limitations.
This is a very useful feature for those who are technical analysis-savvy and want to get the pulse of the trading market.
Order Ladder Trading
This feature is available in the MT5 supreme edition. The easy order ladder trading lets you enjoy accuracy in terms of opening and managing your positions very quickly.
You are able to open both pending and market orders at the same time using this feature. It’s very easy to set up. And more importantly, your risk-reward tradeoff can be calculated quickly.
Expanded Mini Terminal
Also, in the MT5 supreme edition, you can expand mini terminal into a fully featured control panel for your account. You just have to click a button.
This allows for more ease and comfortability in managing orders. You will also be able to receive important information about your selected asset.
Overall, these features let the trader enjoy using the MT5 more than the MT4. It’s fast, easy to use, and packed with features. It doesn’t slow down your device and offers you a lot more than other trading platforms.