MT5 has become the world’s fastest-growing trading platform for forex, stock, and futures markets. Drawing from the unprecedented success of MT4, MT5 has developed a set of evolved features to bring more efficacy to trading.
This article tries to focus on those special points of MT5 that make it the choice of traders worldwide. Before I elaborate further, it’s important you proceed to the MT5 download platform and get ready enjoy your trading experience.
Features of MT5
The following features make MT5 unique that worth trying
1. Advanced Analytical Tools
MT5 offers an excellent pack of analytical tools, without which making informed trading decisions is simply impossible. In this single platform, there are 38 in-built technical indicators, 44 analytical objects, and 21 time frames to do detailed market analysis. These tools will enable traders to identify trends, patterns, and probable entry and exit points.
Besides, MT5 offers possibilities of custom indicators and trading robots developed by the user in MQL5 programming language, which grants a trader the ability to create his analytical tools by his strategy.
2. Improved Order Management
Along with successful trading, efficient order management is integral. MT5 excels in order types by providing both market and pending orders, stop orders, and trailing stops, thereby providing flexibility in strategy execution to traders.
Another key enhancement is the inclusion of a Depth of Market (DOM) feature that will show real-time bids and ask prices to the traders to estimate the liquidity in the markets and make appropriate decisions.
MT5 enables a trader to conduct trades at an ultra-high speed, with a high degree of accuracy due to its advanced order management system, avoiding slippage and thus optimizing the entry and exit process.
3. Improved Performance and Increased Speed
The world of trading is not patient. That means performance and speed are everything. With MT5, the processing of multi-asset classes is done with ease and attainment of vast reams of data handled. Thanks to the multi-threaded strategy tester, the time needed for optimization is immensely reduced, and traders can back-test their trading strategies on numerous currencies simultaneously. Besides, MT5 supports 64-bit operating systems for enhanced performance, resulting in fast execution of trade orders.
This enhances performance capability and, therefore, strengthens the performance of high-frequency traders who rely mostly on speed and precision.
4. Integrated Economic Calendar
Embedded in MT5 is also an economic calendar, creating one of the key elements that traders need to keep pace with in terms of events. This feature updates, in real-time, all changes within events lined up, everything from the alteration in economic indicators to central banks’ meetings. MT5 brings this feature right into the trading platform, so traders get vital information fast and can update their strategies with speed if there are any economic changes.
5. Advanced Charting Capabilities
Another way MT5 outperforms its competitors is via its sophisticated charting features: it supports the line, bar, and candlestick charts, combined with an option to have up to 100 charts opened simultaneously. Thus, this feature would be beneficial for those traders working on multi-timeframe analysis or simply tracking a few instruments at once. The various custom charting options, as well as hundreds of technical indicators available, let a trader perform detailed technical analysis and come up with thoroughly thought-out trading plans.
6. Community and Support
MT5 has an active user group, which includes voluminous knowledge and several tools that a trader can access. On top of that, via its MQL5 community, it provides a marketplace whereby traders can buy other traders’ custom-made indicators, trade robots, and other brilliant tools. In addition, the Community forum is going to be useful in terms of sharing experiences or giving views about some strategies and asking for advice. In this manner, this cooperative atmosphere has served to improve the trading experience and support traders at any level.
Related Read: How can MT5 benefit for Your Trading Needs
Conclusion
MetaTrader 5 is an extraordinarily universal and powerful platform, which makes it an ideal solution for modern traders. It has broad coverage of the markets, improved tools of advanced analytics, enhanced management of orders, better performance, a built-in economic calendar, and improved charting, and thus establishes it as one of the leaders among the platforms for traders yearning for success in financial markets. On top of that, robust MQL5 community support ensures that traders have everything at their fingertips to help better their chances of success. By utilizing some of the special features available in MT5, traders will then have the ability to fine-tune their strategies and maximize their prospects for attaining well-rounded success within the competitive trading world.
