MetaTrader 5: Traditional Markets and Cryptocurrency Trading at One Go

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Trading has become particularly popular over the past year as more people attempt to profit off the market movements. While this is true for traditional stocks, CFDs, and Forex, it’s also true for cryptocurrencies.

The entire crypto market exploded over the past few months, and it reached a capitalization of over $1 trillion for the first time in history. Trading volumes are soaring as the prices for various cryptocurrencies, including Bitcoin and Ethereum, hitting new all-time highs in January.

This has brought an influx of new traders to the scene. However, most of the cryptocurrency exchanges fail when it comes to providing a larger suite of trading tools as they are primarily limited to the crypto market.

With MetaTrader 5, however, you can access the wide array of opportunities provided by the traditional stock, commodity, and Forex markets, while also trading Bitcoin and other coins.

MetaTrader 5: A One-Stop Shop

MetaTrader 5 (MT5) brings forward a multi-functional platform that provides many technical tools, as well as automatic trading systems and copy-trading capabilities. It caters to both novice and advanced traders with various levels of experience in the markets.

Compared to previous iterations of the platform, the MT5 provides more market orders, more indicators, and instruments to assist professional traders with everything they may need in the dynamic market of today.

However, the interface is somewhat similar to the layout of MetaTrader 4. This is intended to guarantee a smoother transition. When it comes to opening an account, new registrants have to provide basic information such as the range of their income, expected trading volumes, as well as to answer a few questions about their previous trading experience.

It’s also worth noting that, unlike other cryptocurrency exchanges, MetaTrader 5 is a platform that has to be installed – you will need to download a desktop application and set it up on your computer, even though the process is relatively simple and seamless. You will also get a phone call from one of their assistants, who will run you through everything you may need to get started.

Benefits of MT5

There are plenty of benefits provided by the new MT5 platform. Right off the bat, you will be able to trade with competitive spreads on one of the most powerful platforms. The accessibility is quick and convenient. Besides the desktop app, you can also trade on your smart devices such as iOS and Android-based phones or tablets and on a web version.

It also delivers a high-level of security. All the data transfers are compressed and are also encrypted based on the 128-bit keys.

The interface is generally friendly to use, and the variety of trading tools make it possible for users to open different positions, use various levels of leverage.

Most importantly, however, the platform will allow you to trade cryptocurrencies, as well as legacy assets such as stocks, commodities, and Forex. This way, you can a versatile portfolio without having to worry about using a lot of different platforms.

Some MetaTrader 5 Features

First things first, the MT5 platform supports the advanced MetaQuotes Language 5 (MQL5). This is the benchmark programming language for developing financial apps. It’s advanced and faster compared to the previous iterations.

Some of the key features include, but are not limited to:

• Custom Indicators

The platform offers a choice of built-in technical indicators. However, with MT5, users can also develop their own tools to perform various analytical operations based on a kit of predefined conditions.

• Scripts

These are basically applications that can be set up to perform any function on the platform. For example, a trader can include a script to delete all indicators on a chart or close all pending orders.

• Libraries

These represent a set of custom functions that are designed to easily distribute and store parts of custom applications used commonly with the MT5 platform.

• Expert Advisors

EAs are programmers who will make it possible to apply automated trading strategies on the market.

Conclusion

The MetaTrader 5 is a convenient platform for people who want to trade in different markets. It’s a solution for people who want to have a diversified exposure to various products such as crypto, stocks, commodities, and forex.

The platform brings a lot of new features, as well as some expanded capabilities, making it suitable for both advanced and novice traders, especially thanks to the onboarding process.