What is MetaTrader 5 and How do You Use it?
MetaTrader 5 (MT5) is a powerful, sophisticated online trading platform that provides access to global financial markets. It offers advanced charting and analysis tools, as well as the ability to trade from anywhere in the world with an internet connection.
That’s the formal overview. But you’re a trader – you want to know if it’ll work for you. Because regardless of your level, you seek the tools and platforms that will put you on the front foot to more wins in the trade.
You’re looking for more than a top-level definition, then – you want a deep-dive. The nitty-gritty on what’s going to empower you in any given situation, on the markets.
QuickTrade is happy to oblige – here’s our unpacking of MetaTrader 5, and how to use it, on every trading level.
How to access MetaTrader 5
Accessing the MetaTrader 5 platform is easy, no matter what type of device you use. The platform can be downloaded from the App Store (iOS) or Google Play Store (Android) for free. Once installed, users can log in to their existing accounts with their broker, or create a new one if they are new to trading.
The user interface on MetaTrader 5 is designed to be intuitive, giving traders access to all of its features with just a few clicks. Traders will find all the tools they need on the main screen:
- Charting tools
- Technical indicator
- Orders and positions
- Market watch list
- History centre
How to trade stocks in the MT5 platform
Trading stocks on the MT5 platform is a great way to diversify your portfolio and take advantage of the potential for higher returns. With the wide range of features available, you can make informed decisions about when to buy and sell stocks with confidence. In this quick tutorial, we’ll show you how to get started trading stocks in the MT5 platform so that you can start profiting from stock market movements as soon as possible.
Step 1: Create an account
The first step is to create a trading account. This is quick and easy, and does not require any installation or setup. All you need to do is provide your details such as name, email address, and other contact information, along with a suitable password for logging in. Once your account has been set up, you can log in.
All of the above can be done via the QuickTrade portal.
Step 2: Fund your account
Next, you will need to fund your account so that you can start placing trades. You can do this by transferring funds from another bank account or credit card into your MT5 trading wallet. Alternatively, some traders choose to use e-wallets such as PayPal or Skrill which offer instant transfers of funds into your MT5 wallet.
Step 3: Do your homework
Once your account is funded, you can start placing orders. Before doing so, it’s important to do some research on the stocks that you are considering buying or selling. You can view detailed financial reports and news updates of different companies in the MT5 platform, as well as use other tools such as technical indicators to analyse trends and identify potential entry and exit points for trades.
Step 4: Place an order
When you’re ready to place an order, simply select your chosen stock (instrument) from the list available and choose the type of order that you wish to place (market order, limit order etc), enter the quantity, along with any other details required by the broker and confirm your selection. Your order will then be sent out for execution if it meets the criteria set by the broker.
Bonus step: Understand the risk
It’s important to be aware that financial markets are highly volatile and prices can move quickly even in a short period of time. It’s essential to understand risk management strategies such as stop losses and take profit orders so that you can ensure your trading capital is well protected. If done correctly, you should be able to benefit from the potential for higher returns offered by trading the financial markets on MT5.
Contact QuickTrade now for more on risk management in online trading.
How to open a position in MetaTrader 5
Trading in the financial markets has become increasingly accessible to individual traders thanks to technological advances, and MetaTrader 5 (MT5) is a popular platform for both beginner and experienced traders. With its user-friendly interface, MT5 allows you to open positions with ease. In this tutorial, we will provide step-by-step instructions on how to open a position in MT5. We’ll also discuss some of the features that make it easy for even novice traders to quickly get up and running with this platform. It’s very simple – let’s get started.
Make your selection
First, you’ll need to log into your MT5 account and select the asset you want to trade. You can do this by clicking on the “Market Watch” tab in the top-right corner of the screen and selecting an asset from the list. Next, move your cursor over to the chart window and double-click on it. This will open a pop-up window with various features that allow you to customise your chart view.
Refine your style
Once you have chosen your preferred style of charting, click on “New Order” located at the top left of the chart window. This will open a new menu containing several options such as volume size, stop loss or take profit levels, expiration time etc. Select whichever you prefer and click “Buy” or “Sell” to open a position with the chosen parameters.
That’s all there is to it. You have now opened a position in MT5 and you can track your profits or losses in real-time via the terminal window located at the bottom of the screen. Make sure to take regular breaks from trading so that you don’t become overwhelmed or burnt out by the markets.
How QuickTrade can help you trade better with the MetaTrader 5 platform
QuickTrade enables you to trade with the MetaTrader 5 platform. We provide a powerful and reliable trading environment, offering access to real-time market data and advanced charting capabilities. With QuickTrade, you can easily analyse financial markets, create expert advisors and manage your portfolio more effectively.
Our platform provides a wide range of features such as one-click order execution, integrated news feeds, customisable trading alerts and sophisticated risk management tools. We also provide free demo accounts for those who want to gain hands-on experience before investing in the live markets. Additionally, we offer numerous strategies and methodologies that are tailored to your specific needs.
At QuickTrade, we strive to make your trading experience as easy and profitable as possible. We have designed our system to be user-friendly, allowing even beginner traders to get started quickly. Plus, with our advanced features and intuitive interface, you can easily create custom strategies and maximise your profits.
Investing in the markets can be a daunting task but with QuickTrade’s support, you can make informed decisions with confidence. So take advantage of this powerful trading platform to start trading smarter.