Reasons for using MT5: Some Salient Features

Trading foreign exchange has always been an integral part of all the schemes which exist to make people richer through speculation. Like stock and futures trading, currency trading is also a popular medium for making a few quick bucks by predicting the movement of exchange rates between various international currencies; most commonly the Dollar and the Euro. The platform MetaTrader 4 had been a huge success in the market as it took the community of FX traders by storm. Almost every major online foreign exchange broker had this platform made available to their users. And then we had MT5, which was an even greater improvement). Let’s see what makes Metatrader 5 so great:

1.       MetaTrader 5 equips all its users with the opportunity to place innumerable different kinds of postponed /pending orders, while the previous version of metatrader 4 had contained just six features. This allows people to exercise greater control over the positions which are open; and provides for the development of a lot many more investment strategies that are perfectly flexible.

2.       MetaTrader 5 incorporates the all-important feature of “Market Depth”. This provision enables every trader to make in-depth examinations of the quotations regarding every stock. “Market depth” provides us with a summed-up view of the quotations and the orders from the liquidity suppliers, which are as of yet pending.  

3.       Traders can make use of the feature/tool of Economic calendar, which shows users a list of important economic events and announcements that have been taking place for every single week. The economic calendar is utilised by traders and brokers everywhere on the planet, for the purpose of calculating all the ups and downs in the market prices.

4.       The ‘Market Watch’ provision of this platform makes sure that the clients are able to set up positions by one single click of the mouse. The quotations are presented as click-buttons which can directly click on and select a particular volume of transaction from among the options provided in the menu. This provision empowers the traders to pre-determine the volume of the transaction, and also to sign various deals making use of different tools.

5.       The devices help the trader gain access to the international liquidity providers such as banks and financial institutions. On the tablet or mobile version of MetaTrader5, customers would be constantly updated on the slippages even while traders are on the go or busy with some other work. The application might be run on pretty much any Operating System which is available in the market.

6.       MetaTrader 5 has the “Strategy Tester” that provides for an improved testing of the expert systems along with an in-depth presentation of results. This gives traders the chance of exercising greater precision while selecting investment strategies; and that is while they’re running automated trading.

7.       This site has a built-in feature which constantly provides traders with the latest reports on economy and currency prices. These help a trader to be up-to-date with all of their investments and to stay informed regarding the progress of the trading instruments, which have been employed by them. Profits, pay-offs, deal values, average profit, expected rise etc. can all be checked using this feature.

The advanced and upgraded features MT5 are the reason that nowadays, many forex brokers are offering this platform to their clients.