While it was introduced in 2010, it has had difficulty outshining its predecessor. But that doesn't mean it's sub-par, far from it. MetaTrader 5 is a formidable, next-generation tool with a lot to offer.
If you need more convincing reasons to download MetaTrader 5, this article is for you. It will introduce you to the amazing perks that MT5 offers.
Enhance Performance
MT5 performs much better, and it’s much faster. The platform’s optimized speed comes from multithreading, a technology that facilitates better utilization of top-notch multi-core processors. MetaTrader 5 also uses modern data processing tools and improved code tailored to boost execution speed and reduce unnecessary delays.
MetaTrader 5’s speed means your trade requests will be executed faster when you use the platform. Moreover, functions like data analysis and charting will be seamless.
Advanced Tools
Using MetaTrader 5 gives you access to various advanced tools. The most notable include two order types: market and pending. Market orders allow you to open a trading position at the present market price.
Conversely, you can use a pending order to open a position when the price hits a predetermined amount. These orders are further split into many other categories. For instance, under pending orders, you will find buy stop, sell stop, buy limit, sell limit, buy stop limit, and sell stop limit orders.
Other tools that make MT5 unique include Depth of Market (DOM) and strategy tester. DOM enables traders to determine the direction an asset’s price will likely take. On the other hand, as an expert trader, you can use MT5’S strategy tester to test automated robots before using them on your actual trading account.
Hedging and Netting Capabilities
If you’ve used MT4, you know the platform supports the netting system, which limits your trading by allowing you to open only one common position for a particular symbol at a specific time. By doing so, it reduces your risk exposure.
MT5 utilizes the netting system and has another incredible feature: hedging capabilities, allowing traders to open multiple positions of one symbol.
Built-In Economic Calendar
As a trader, having access to an economic calendar is mandatory. This tool enables you to plan portfolio allocation and trading positions effectively. It also puts you in a better position to know when important events will happen and exploit this information.
MetaTrader 5 has an incredible built-in economic calendar that you can use to keep track of events likely to affect different trading markets. It can help you check when an event is expected, the financial instruments that might be impacted, and forecasted numbers.
Mobility
Many traders use mobile phones to open and monitor their positions. Most do that because using a small, portable device is convenient, especially for people who move around a lot. Mobile trading is also possible from any corner of the globe, provided internet connectivity isn’t an issue.
Not to forget, many mobile trading apps keep traders in the know through push notifications and messages. The good news is MetaTrader 5 versions for Android and IOS are available, making trading on the go possible.
Check Out MT5 Today
If you’re still using MT4, consider switching to MT5 and have access to many outstanding features, including optimum speed, top-shelf tools like a strategy tester, and a hedging system that supports multiple open positions.
But before upgrading to MetaTrader 5, compare it to other popular platforms. The odds are high that you will pick MT5 at the end.