MetaTrader 5

year of creation: 2010
country: Russia
Developer: MetaQuotes Software Corp
site: metatrader5.com

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MetaTrader 5 is one of the leading trading platforms developed by the Russian company MetaQuotes in 2010. This platform has received recognition from traders worldwide. Today we will figure out how deserved it is.

About the developer

The developer of the MetaTrader 5 is the Russian company MetaQuotes, founded in 2000. Today it is one of the leading companies in the sphere of developing software for financial markets. Its offices are located in 8 countries of the world, which enables the MetaTrader 5 platform to have an extensive client base. As of 2021, over 170 companies have connected MetaTrader 5, and about 40 brokers have worked with the platform.

Main opportunities

The functionality of this platform is really impressive. 21 timeframes, from a minute to a monthly one, allow you to trace the price fluctuations of any asset with a selected frequency. One-click trading provides the ability to easily and quickly carry out trade transactions, and the stop loss and take profit functions do not allow you to incur too large losses.

Main opportunities of the MetaTrader 5

 

The MetaTrader 5 provides a wide range of tools for technical analysis of the market: grid, drawing equidistant channels, various indices and other tools. In addition, to help the trader, there are tabs with news summary and economic calendar, which shows you the most significant events in the field of economics.

Additional features

MetaTrader 5 has a number of additional features that distinguish this platform from similar services. One of them is the ability to open a demo account, where you can learn to trade without fear of losing real money. The MetaTrader 5 also allows you to copy deals of more experienced traders, both in manual and automatic modes.

Additional features  MetaTrader 5

If you want, you can expand the functionality of MetaTrader 5 on your own. You can add the necessary services and scripts using the MetaEditor 5 application bundled with MetaTrader 5.

Cost and commissions

Downloading and using the MetaTrader 5 platform itself is free, both for Windows and for Android and iOS. It can be downloaded directly from the official website. For brokers, the connection to the MetaTrader 5 platform is paid, and depends on the selected offer. Commissions for traders are set by the broker. The cost of the service of copying transactions, as a rule, is $ 1 per day.

Online reputation

Despite the abundance of convenient functions, it is quite difficult for a beginner to understand MetaTrader 5. Trading management is not always intuitive, especially if you are a beginner in the online trading or have learned to trade on a platform with a less complex interface. It is the main drawback which is mentioned in the customers’ reviews on the Web. The positive aspects of the platform include versatility and the absence of payment for use.

Summary

MetaTrader 5 is a multifunctional trading platform that allows traders to customize the interface for themselves. A large number of tools and functions makes the MetaTrader 5 a convenient platform for making deals. However, it can be difficult for beginners to understand this program. That is why many users prefer to work with simpler and more understandable platforms.

 

PROS

  • Free software for single traders;
  • There is a demo account and the ability to trade in one click;
  • Multifunctionality;
  • The ability to create your own tools for market analysis, algorithms, libraries and scripts;
  • There is a mobile application and a web version;
  • Popularity among companies and brokers

CONS

  • It can be difficult to get understand the program for the beginners;

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