Home Insights & Advice Why should you use MetaTrader 5 in your trading

Why should you use MetaTrader 5 in your trading

by John Saunders
12th May 22 12:07 pm

Developed by MetaQuotes – the popular developer of trading software and applications – the MetaTrader platforms have quickly become an industry standard for those looking for a reliable, robust, and professional trading platform, offering a comprehensive and flexible trading ecosystem.

Launched in 2010, the MetaTrader 5 platform, also known as MT5, is the latest version of the MetaTrader trading software. It offers a multi-asset trading platform, allowing traders to access an exhaustive list of professional technical indicators, advanced drawing trading tools, analytical tools, different order types, algorithmic trading possibilities, trading signals and alerts, virtual hosting (VPS), and multi-threaded/multi-currency testers, among other powerful features.

Because this platform is so popular for Forex, Futures, and CFD traders, long running broker easyMarkets decided to add MetaTrader 5 to its already robust selection of trading platforms, which includes easyMarkets Web & App, TradingView, and easyMarkets MetaTrader 4. With this new release, the popular regulated broker can offer more comprehensive trading ecosystem options to its users.

With MT5, easyMarkets traders can use all relevant trading tools like Expert Advisors (EA) to automate their strategies and risk management tools, like negative balance protection or free stop-loss orders to better protect their trading capital. Moreover, they can also choose between variable and fixed spreads with no hidden fees, so then they can decide which approach best suits their trading style and strategy.

The MetaTrader 5 platform is indeed a great option for those doing aggressive and active trading, like scalping and day trading, as well as other methods like swing trading, automated trading, netting, and hedging, among other types of trading.

Being able to take advantage of floating spreads can greatly enhance trader performance, as they are able to get the best buying and selling prices available at a given time. Usually, they are tight and minimal when markets are quiet, but they widen as volatility increases and when there is market turbulence.

If you’re wondering if you should use MT5 instead of the previous version of the MetaTrader platform, MetaTrader 4, you should first consider the financial assets you want to focus on with your trading. While MT4 mostly offers Forex trading, MT5 allows you to trade currencies, options, stocks and more – there is an unlimited number of symbols to trade that can be added to MT5.

It is also important to consider your trading plan to determine your overall trading needs, as they will definitely help you pick the right platform for your trading. MetaTrader 5, for instance, provides advanced tools, as well as diversified execution modes to create a more powerful trading system, in which it’s possible to open up to 100 charts at a time and use 21 different timeframes to better understand the price dynamics of the assets you trade.

Because you will be able to use multiple timeframes and open numerous charts at the same time, you will be able to better anticipate market direction and price movements. This should help you make more informed trading decisions thanks to a multi-timeframe approach, therefore potentially increasing the profitability of your strategy.

 

The above information does not constitute any form of advice or recommendation by London Loves Business and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Appropriate independent advice should be obtained before making any such decision. London Loves Business bears no responsibility for any gains or losses.

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