If you are discovering a multifunctional and multi-asset trading platform, then MT% is the best trading platform.
The MT5 trading platform is more advanced than the MT4 and offers Forex trading, futures, and stocks. This feature is available in different versions of mobile, web, and online too. The services that offer MT5 are trading robots, virtual hosting services, copy trading, and remote database strategy. It is available in more than 30 languages, and every broker offers this feature free of cost.
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Pros
- Navigation is very easy.
- Different tools are available with this tool.
- You can keep 8 pending orders and more than 20 timeframe orders.
- The economic calendar is part of this platform.
Cons
- The hedge feature is not available.
- MT5 is an advanced tool, so the traders that use MT4 must learn some techniques to work on MT5.
- Advanced features in MT5 are difficult to learn for beginners.
MetaTrader 5’s Customer Support
There are different customer support services available in MT5 and these are as follows:
- Getting started
- Trading operations
- Price charts
- Technical and fundamental analysis
- Algorithmic trading
- Trading robots
- Trading signals
- Copy trading
- Market app store
- Cloud network MQL5
- Virtual hosting for 24/7 operation
- Mobile trading
- MQL5 community
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Differences between MT4 and MT5
Different features and advanced tools are offered by the MT5 that make it a very different tool from the MT4 you can also learn globex360 MT4 to learn about meta trader:
- It provides the depth of the market.
- It adds two more pending orders and these are sell stop limit and buy stop limit.
- It offers a different graphical interface, advanced indiactors, and increased timeframe.
- The economic calendar is also a feature of MT5.
- A tester is used to test strategy.
- Add two more account systems, i.e., hedge and netting.
- Provide limitless features.
- It offers a wide range of features through which traders can trade. These are bonds, stocks, currency pairs, and futures.
Opening a demo account in MT5
If you want a demo account in MT5, then follow the following steps:
Open the website of Metatrader5.
Choose “open a demo account to trade” and press the “next” option.
A form will appear. Here you must specify your personal information and don’t forget to check the “hedge in trading” option if you want to use this feature in the future.
Enter the amount that you want to deposit, agree to the terms and conditions of the MT5 account, and hit “next.”
After you finish the procedure, the system will provide you with the account number and password generated by the MT5. It may provide you with investor login details if you want your investor to read only the trading procedure. However, he cannot perform trading by himself.
Save this information for further use. You can also change the password by selecting “tools”, going to settings, then “server” and pressing “change”.
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Final words
MetaQuotes provided the Metatrader5 at the same prices as its predecessors.That is why its popularity has increased. Traders can perform trading on MT5 with rich tools and advanced tradable asset classes. Other features, such as copy trading and algorithmic trading, also add attractions for traders.
