Whether you're an experienced trader or a novice looking to learn how to use MetaTrader 5 in the financial markets, this comprehensive article covers everything you need to know about the MetaTrader 5 trading platform. Let's explore how to use MetaTrader 5!
You don't need to pay for any courses to learn how to use the MetaTrader 5 platform - this guide is completely free!
What is MetaTrader 5?
MetaTrader 5 is one of the best trading platforms available on the market.
Developed by MetaQuotes Software Corp., MetaTrader 5 may be the world's most advanced multi-asset trading software allowing you to trade in various financial markets, perform technical analysis on Forex pairs and Contracts for Difference, and even use automated trading robots!
Thus, through this trading platform, you can trade all markets anytime, anywhere via your computer, tablet, or smartphone (Android or iOS).
Now that we understand what the MetaTrader 5 platform is, let's see how to download MT5.
Depending on whether you're downloading from a desktop computer or a mobile device, this page will provide you with the version you need: Android, Apple iOS, Mac, or Windows. Linux users are not excluded either. I also provide a section on executing MetaTrader 5 Linux setups.
How to Install MT5 on Windows
Once downloaded, you can find the file in the download bar at the bottom of your browser window or in your download file directory.
1. Click on the downloaded dolphinmarkets5setup.exe file.
2. Follow the instructions for Windows installation.
3. Choose the installation directory location.
4. Click Finish when done.
Once installed, you can click on the newly created application shortcut on your desktop to launch the MetaTrader 5 software.
How to Install MetaTrader 5 Supreme Edition
At DOLPHIN MARKETS, all traders, whether experienced or beginners, have the opportunity to fully leverage the potential of the MetaTrader 5 platform through additional plugins (advanced platform extensions).
This allows individual traders to collaborate with professional forex traders using powerful, practical, and easy-to-use trading tools!
Don't deprive yourself of enjoying the exclusive services of the Supreme Edition at DOLPHIN MARKETS!
After downloading and installing MetaTrader 5 Supreme Edition, you will have access to many trading tools such as:
Money Management
Risk Management
Additional and Unique Technical Indicators
These will be provided in the form of indicators or expert advisors accessible from the 'Navigator' tab of your MetaTrader 5 platform.
After understanding all the advantages of downloading and using the MetaTrader 5 Supreme Edition simulator version, we'll show you how to install this special plugin on your MetaTrader 5 platform!
It's very simple, just click on the banner below: 🔻🔻🔻
Exclusive MetaTrader Supreme Edition
Download the most powerful plugin suite for your favorite trading platform!
Now it's time for me to answer another question that traders often ask, 'What is the minimum deposit for MetaTrader 5?' MetaTrader 5 is a platform used by brokers to facilitate trading for traders. It doesn't decide the minimum deposit you have to make with your MetaTrader 5 broker. The minimum deposit amount is set by the broker you're connected to via MetaTrader 5.
In any case, you'll need to add funds to your account. In the transfer options on the DOLPHIN MARKETS website, you can see options for transferring funds from your bank to your trading account.
Once your trading account is verified and you've made the transfer, you can start trading! You're now ready to trade on the MetaTrader desktop platform or through WebTrader in your browser.
How to Connect to MetaTrader
1. Launch the MetaTrader 5 platform.
2. Click on the drop-down File menu in the top left corner.
3. Select 'Login to Trade Account'.
4. Enter your MT5 account ID and password as prompted.
5. Choose the server specified in the confirmation email.
6. Click OK.
Closing the MetaTrader 5 Platform
To close the MetaTrader 5 software on your computer or other device, simply click on the File menu, then select 'Exit'.
If you do not want MetaTrader 5 to save your personal login information, be sure to uncheck the 'Save account information' checkbox on the login screen.
Advantages of MT5 over 4
While MT4 and MT5 are the world's most popular trading platforms, MetaTrader 5 does have some unique advantages:
1. A simpler, more user-friendly, and improved interface.
2. New, customizable timeframes and measurement units are available.
3. It has an embedded economic calendar on the platform, making it an ideal choice for fundamental analysis.
4. It has a concise automated order history directly visible on a single index chart.
5. Historical depth of market (such as an order book).
6. Access to over 7,000 instruments through DOLPHIN MARKETS, including over 3,000 instruments for CFD trading in our Trade.MT5 account and over 4,000 instruments for traditional stocks and ETF investments in our Invest.MT5 account.
MetaTrader 5 also offers performance and optimization upgrades over version 4:
1. Faster and more stable connection to servers.
2. Greater platform stability compared to MT4.
3. Enables faster and more accurate order execution.
4. Allows hedging, enabling you to close positions.
5. Available on PC, Mac OS, iOS, Android, and all supported browsers.
MetaTrader 5 is not only more updated and powerful than the older MetaTrader 4, but it is also currently the most widely used in the online trading world. MT5 comes with more advanced functionalities primarily due to the technological innovations introduced by MetaQuotes developers. Generally, traders who use EAs prefer MT4, while manual and traditional traders lean towards MT5.
If you haven't found answers to all your questions through this MetaTrader 5 guide, feel free to contact us for a chat anytime!
How to Trade with MetaTrader 5
The first step to start forex trading with this platform is very easy. However, if you still lack trading experience, we recommend opening a demo account in MetaTrader 5 to learn how to trade within the platform.
But if you are already familiar with forex and CFD trading and you do not need to use a risk-free MetaTrader 5 demo account, let us explain how you can trade using this advanced trading software!
To trade in MetaTrader 5, you just need to follow these 3 simple steps:
1. Open the 'Market Watch' window from the 'View' tab or by pressing Ctrl + M on your keyboard.
2. Double-click on the trading instrument you want to trade.
3. Click on the 'Buy' or 'Sell' button.
The easiest way to start trading in MetaTrader 5 is to place instant orders on the instrument of your choice using the 'New Order' window.
When your trading chart is displayed in the trading window of the MetaTrader 5 platform, you can also open positions using the 'New Order' shortcut on the toolbar at the top left.
Simply by clicking the 'New Order' button on the toolbar or using the F9 shortcut on your keyboard to open a new order, you can easily enter the lot size you desire for your position.
To open a position, you must enter the lot size you want in the volume box, then click 'Buy' or 'Sell'. The 'Market Execution' option allows you to place orders immediately using MetaTrader 5.
You can also use the 'One-Click Trading' option, which you can find by right-clicking on the chart in the MetaTrader 5 simulator and selecting it from the dropdown menu that appears.
This method of opening positions is very quick and is ideal for day trading strategies and scalpers - the only parameter you need to configure is the lot size you want to use in your position.
Placing stop-loss and take-profit orders for your positions is also very simple.
Once your order is in place, depending on your trading direction, click and drag the entry line upwards or downwards to place stop-loss or take-profit orders. But let's delve deeper into these points in the following sections of the article!
Stop loss and take profit are tools you can use to automatically close open trades. Stop loss helps reduce your trading losses, while take profit helps ensure your trading profits.
There are two ways to set stop loss and take profit in MetaTrader - the first is when opening a trade, and the second is by adding them to already open trades.
Setting them when opening a trade:
1. Click the 'New Order' button in the top toolbar.
2. Highlight the stop loss and take profit fields.
3. Enter the stop loss below the current selling price (this is the price above the 'Sell at Market' button).
4. Enter the take profit above the current buying price (the price of the 'Buy at Market' button).
5. Click 'Buy at Market'.
Adding them to existing trades:
1. In the chart window, highlight the price at which the trade started (green dashed line).
2. Highlight the stop loss (red dashed line below the trade).
3. Highlight the take profit (red dashed line above the trade).
4. Try dragging the stop loss to different levels.
5. Accept terms and conditions (popup window).
6. Drag the stop loss to different levels.
How to Set Trailing Stop in MT5
A trailing stop is a stop loss that adjusts as the trade moves in favor of the trader, further reducing downside risk of trading errors. To set a trailing stop, simply:
1. Right-click on the row where your position is located.
2. Select 'Trailing Stop' from the menu that opens.
3. Choose the size of your trailing stop value, then click to confirm.
Another possible way to set a trailing stop:
1. Open the toolbox by pressing the keyboard shortcut Ctrl+T.
2. Choose the 'Trade' tab, then right-click the line representing your open position.
3. Select 'Trailing Stop' from the menu that opens.
4. Choose the size of your trailing stop value, then click to confirm.
Want to stay in winning positions for as long as possible?
The Stop Follower is the tool you need.
This tool tracks stock and index prices in real-time and freezes your position when market trends move against your trade direction.
For long positions, MetaTrader 5 tool settles the price and freezes as the price falls. If the price reaches your stop loss level, the position will be automatically closed.
For short positions, the tool follows the downtrend and freezes as the price starts to rise.
Using One-Click Trading in MT5
One-click trading is an intuitive and fast way to open trading positions. It can be accessed directly from the active chart, where you can visually preview positions represented by dashed lines.
Hovering over the chart in this way grants access to multiple functionalities. Left-click to open a position, right-click to select closure options.
You can also access the 'Edit' option here, which enables you to:
Change existing stop loss values
Change existing take profit values
Additionally, you can modify your positions by clicking and dragging the red line representing your entry level on the chart.
For long positions
Dragging downwards modifies your stop loss value
Pulling up modifies your take profit value
For short positions
Dragging downwards modifies your take profit value
Pulling up modifies your stop loss value
Each of these options grants you additional control over your trades and workflow commands.
How to Add Indicators on MT5
The forex market tends to act in specific ways under specific conditions. This behavior repeats itself, meaning certain price patterns recur. The best forex indicators attempt to identify such patterns as they form and gain an advantage by leveraging this knowledge.
To add indicators to your platform, simply:
1. Download and install MetaTrader 5: Supreme Edition.
2. Download indicators from the Market tab in the toolbox window.
3. Manually install indicators from the Indicators folder in the MetaTrader 5 installation directory.
Choose from three different types of indicators provided by the MetaTrader 5 platform, offering various options and functionalities catering to different user needs. Add indicators, expert advisors, or create/add your own custom tools. You can find downloadable custom tools created in compatible MQL5 language on the internet.
This is why MetaTrader 5: Supreme Edition is the best and most powerful trading platform solution. You'll find many leading indicators such as Pivot Point, Supertrend, Heikin Ashi, and other installed indicators. Adding more is a straightforward process.
For more information about available indicators, you can visit the MetaTrader 5 forum. The MT5 community is active, creating new plugins and indicators every day.
How to Save MT5 Trading Chart Templates
MT5 allows you to save trading chart templates. The main benefit of doing this is that you can quickly and easily access your most commonly used charts anytime, anywhere, and have your favorite tools ready to use at any time.
An example of a saved chart could be your favorite forex currency pairs and three technical indicators - 3 simple moving averages, the MetaTrader 5 Heiken Ashi indicator, and MT5 RSI.
To create this MetaTrader 5 chart template:
1. Build your chart with all the indicators and plugins you need.
2. Click on Chart options, then select Templates.
3. Click on 'Save Template'.
4. Name your template, then save.
Just four steps to save your template!
Once you have saved your preferred chart as a template, you can open that chart template and quickly have your entire trading system and indicators ready to go. To load a template when needed, simply:
1. Go to Chart options.
2. Click on 'Templates'.
3. Choose the model that suits your needs.
How to Save Profiles in MT5
You can also save profiles in MT5. The benefit of doing this is that it allows you to access instantly all your favorite tools without having to search for them time and time again.
Here's an example of what profiles can do for you:
Let's say you trade forex in the morning and U.S. market indices in the afternoon. In the morning, you load your forex profile, which displays all your favorite currency pairs along with all the indicators and related expert advisors you've attached. Then, in the afternoon, you load your U.S. indices profile, again greeted with charts and tools tailored to that requirement, all saved and ready to go.
To save profiles in MetaTrader 5:
1. Select the assets or tools you're interested in.
2. Add the necessary indicators to each chart.
3. Go to the 'File' option, then select 'Profiles'.
4. Click on 'Save As'.
5. Name your profile, then click 'OK' to save.
The profile system in MetaTrader 5 allows you to save and record collections of your favorite tools along with the applied indicators and tools for each, all in one easy-to-load file.
How to View Chart Information in MT5
Hover the mouse cursor over an indicator to understand its value at that point.
Alternatively, use the 'Data Window' in the toolbar at the top left of the window, which can display all the information on the active trading chart. The keyboard shortcut for this tool is Ctrl+D.
The range of data and information you can get from a single chart can be overwhelming if you try to find it yourself! That's why being familiar with the data window is both convenient and helpful.
Here's an example illustrating when this would be helpful:
For instance, if you're trading with RSI and need to wait for the Relative Strength Index curve to cross above 50 points to enter a state, it's much simpler to read the accurate values in numerical form than to approximate based on the chart - especially crucial for tools with rapidly changing values.
How to Display Timeframes in MT5
Did you know you can set custom timeframes?
MetaTrader 5 can display charts for various specific timeframes, in addition to the most commonly used ones in each tool.
In contrast to MetaTrader 4, which can only use a limited number of preset timeframes for each chart, MT5 allows for custom units such as:
M2 - 2 minutes
M3 - 3 minutes
M4 - 4 minutes
M5 - 5 minutes
M10 - 10 minutes
M12 - 12 minutes
M20 - 20 minutes
H2 - 2 hours
H3 - 3 hours
H6 - 6 hours
H8 - 8 hours
H12 - 12 hours
To set custom timeframes, follow these steps:
1. Use the default toolbar in the top right corner of the MT5 platform.
2. Right-click on the chart, go to 'Timeframes', then select 'Change time unit'.
How to Display Spread Values in MT5
In forex trading, the 'spread' refers to the difference between the buy (or Bid) and sell (or Ask) prices of a currency pair. For example, if the EUR/USD buy price is 1.16909 and the sell price is 1.16919, the spread is 1 pip. If the buy price is 1.16909 and the sell price is 1.16949, the spread is 4 pips. Traders profit from fluctuations in currency prices while trading forex. However, trading becomes profitable only when the currency price exceeds the spread.
To view your spread:
On the trading chart, locate the buy line and sell line.
From the 'Market Watch' window, find the 'Difference' column.
How to View Commissions in MT5
With a standard Trade.MT5 trading account, the only commission for trading Contracts for Difference (CFDs) comes from swaps, which are overnight holding fees for intraday positions. These fees are displayed on each relevant position.
In this regard, CFD intraday traders or scalpers have a slight advantage, facing only typical tight spreads.
Displaying these fees on the platform if you do hold intraday positions can help you better understand trading costs and effectively manage these expenses.
To view commissions and swap fees in MetaTrader 5, follow these steps:
1. Press the keyboard shortcut Ctrl+T to open the MT5 Toolbox.
2. In the 'Trade' tab, you can view your open positions.
3. In the 'Exchange' column, you can see the commissions applied to your positions.
How to View All Assets in MT5
You can view all assets in MT5 within the market quotes window located in the top left corner of the MetaTrader 5 platform.
1. Click on the market watch shortcut in the top left corner of the MetaTrader window. (Shortcut key Ctrl+M)
2. Scroll through the list of markets covered by your DOLPHIN MARKETS account.
3. For instruments not appearing in the list, you can add them using the fields at the bottom of the list.
What CFD Markets Does MT5 Offer?
Through DOLPHIN MARKETS, you can trade the following instruments with a Trade.MT5 trading account:
Forex with 37 different currency pairs (e.g., EUR/USD, GBP/USD, USD/JPY).
CFD contracts for 26 stock indices (e.g., DAX40, CAC40, DJI30)
CFD contracts for 15 commodities (e.g., gold, oil)
CFD contracts for over 3,000 stocks (e.g., Total S.A, BNP Paribas, Facebook)
CFD contracts for ETFs (Exchange Traded Funds) - 300+
CFD contracts for 32 cryptocurrency crosses (e.g., Bitcoin, Ripple, Monero)
CFD contracts for bonds (e.g., T Note, Bund)
To view specific CFD instruments in MetaTrader 5:
Right-click in the market quotes window.
Select the 'Symbols' tab.
This is the easiest way to quickly view and select from the full list of instruments available for trading with your MetaTrader 5 account. All you need to do is find your desired instrument and double-click it.
For instance, if you select DAX40 from 'Cash Index 1', it gets added to your instruments list. To open a trading chart, simply click and drag it into the trading window or right-click and select 'Chart Window'.
If you can't find the DAX40 CFD contract in the instruments list, right-click and select 'Show All'. This will allow you to see all tradable instruments in one window.
How to Invest in Stocks Using MT5
Now you can not only view and analyze stocks with MetaTrader 5 but also trade!
With an Invest.MT5 account, you can invest in long-term spot stocks, with fees for U.S. stocks starting from $1 per order. You have access to over 4,000 stocks and 200 ETFs without the need for contracts for difference.
The DOLPHIN MARKETS website provides a list of financial instruments. Our new offerings include top-tier stocks from 15 leading securities exchanges worldwide, including:
France (Euronext Exchange)
Germany (Xetra Exchange)
Netherlands (Euronext Exchange)
Spain (Spanish Stock Exchange)
Sweden (Nasdaq Stock Exchange)
Switzerland (Swiss Stock Exchange)
United Kingdom (London Stock Exchange)
United States (NYSE, Nasdaq, and NYSE American)
Combined with previously available tools, our product is undoubtedly one of the most diverse offerings among all online trading brokers. Through the MetaTrader 5 trading platform, we also provide some of the most competitive trading conditions for traders and investors.
To invest in ETFs using Invest.MT5, you first need to log in to MetaTrader with your real account and investor password (which can be obtained on the Dashboard).
Once logged into your investor account, then:
1. Open the market quotes window.
2. Double-click on the selected company.
3. Click the buy button.
These are the terms when investing in stocks using MetaTrader 5 with DOLPHIN MARKETS:
Margin rate: 1:1
Commission (per side):
EU - Starting from 0.12%, minimum 5.0 EUR
UK - Stocks 8.0 GBP, ETFs 0.07%, both minimum 8.0 GBP
US - Starting from 0.01 USD, minimum 1.0 USD
Dividends: 100% (paid)
Tax levies:
UK - Stamp Duty Reserve Tax (SDRT): 0.5%;
France - Financial Transaction Tax: 0.3%. Invoiced for other specific operations.
Additional fees: None.
Please note that tax treatment depends on each client's individual circumstances and may change in the future.
On MetaTrader 5, stock data is available in real-time and is free for real accounts. Demo accounts have a 15-minute delay.
There are multiple ways to conduct historical testing on MetaTrader 5 to determine the effectiveness of trading strategies:
Manual Method:
Once you have identified tools and strategies, you can review their historical data to understand the smallest increments of price behavior.
The F12 key will assist you in advancing between candles to view detailed views of price behavior data.
Expert Advisor Method:
After installing an Expert Advisor, you can choose from multiple built-in backtesting options to run within different time frames to evaluate a given strategy.
The MQL5 Strategy Tester plugin has been enhanced for greater usability and more advanced, professional results. The statistical analysis performed by this tool is both detailed and user-friendly.
For traders with a programming mindset, MQL5 is more advanced than MQL4:
Easier to program.
Higher performance and speed.
Lightens the burden on the computer's CPU.
Faster testing and optimization.
How to Conduct Quick Historical Testing Using MT5's Strategy Tester
1. Open the MT5 Strategy Tester.
2. Select the indicator or EA (Expert Advisor) you want to test.
3. Choose the time unit for historical testing.
4. Select a tool for this historical test.
5. Choose the start and end dates for the test.
6. Select the execution mode.
7. Enter the initial amount and desired leverage.
8. Optionally turn on or off visual mode.
If you want to see where the EA takes positions on the chart during testing, you can opt to run the test in visual mode.
How to Use MT5 on Android
1. Download the MT5 application from Google Play.
2. Open the application and log in with your Trade.MT5 or Invest.MT5 account details.
3. Click on the + icon located in the top right corner of the MT5 application.
4. Select the MetaTrader 5 trading tool you desire.
5. Choose your lot size.
6. Set your desired stop loss (optional). Choose the price level at which you would like to incur losses.
7. Set your desired take profit (optional). Choose the desired profit level.
8. Tap 'Sell at Market' to go short.
9. Tap 'Buy at Market' to go long.
To secure a position in the market, simply fulfill each of these conditions and then press the sell or buy button. This straightforward and intuitive navigation makes MetaTrader 5 a leading mobile trading application.
How to Use MT5 on iPhone
1. Download the MT5 application from the App Store.
2. Log in with your Trade.MT5 or Invest.MT5 account details.
3. Tap on the + icon located in the top right corner of the MT5 application.
4. Select the instrument you want to trade from the drop-down list.
5. Choose your lot size.
6. Set your desired stop loss (optional).
7. Set your desired take profit (optional).
8. Tap 'Sell at Market' to go short.
9. Tap 'Buy at Market' to go long.
To secure a position in the market, simply fulfill each of these conditions and then press the sell or buy button.
How to Use MetaTrader 5 Web Version
WebTrader is the browser-based version of MetaTrader, allowing you to trade anytime, anywhere without downloading any software.
This is a convenient solution for mobile traders or those who prefer not to install the full MetaTrader 5 platform on their computers.
WebTrader MT5 enables you to securely execute any trade within seconds.
You can even trade directly from your smartphone's browser without downloading a new application that would take up valuable space!
Why Choose MT5 from DOLPHIN MARKETS?
DOLPHIN MARKETS is one of the few best CFD and forex brokers offering the MetaTrader 5 trading platform, available on both PC and Mac operating systems.
When trading with DOLPHIN MARKETS, you can enjoy the following benefits:
Tight spreads on all major instruments: EUR/USD currency pair at 1.2, DAX30 CFDs and CAC40 CFDs at 0.8.
Leverage up to 1:1000 allowing traders to open positions worth 1000 times their available funds. If you choose to do so, we advise you to be fully familiar with risk management.
Speed, comfort, and elegance - trade with one-click trading using the Mini Terminal.
Free deposits and withdrawals via bank transfer and credit card.
All trading styles are available: hedging, scalping, and EA trading are all permitted.
Click the banner below to start your trading journey: 🔻🔻🔻
DOLPHIN MARKETS is an award-winning, globally regulated forex and CFD broker offering trading on over 8,000 financial instruments through the world's most popular trading platforms MetaTrader 4 and MetaTrader 5. Start trading now!
Information about analytical materials:
The data provided provides additional information on all analyses, estimates, prophecies, forecasts, market comments, weekly outlooks, or similar evaluations or information (hereinafter referred to as 'analysis') published on the DOLPHIN MARKETS Ltd website. Before making any investment decisions, please pay close attention to the following:
This is marketing communication. The published content is for reference only and should not be construed as investment advice or recommendations. It is not compiled in accordance with legal requirements aimed at promoting the independence of investment research, and is not subject to any restrictions on the dissemination of transaction-based investment research.
Any investment decisions are made by each client individually, and DOLPHIN MARKETS Ltd shall not be responsible for any losses or damages arising from any such decisions, whether based on content or not.
To protect the interests of our clients and the objectivity of the analysis, DOLPHIN MARKETS Ltd has established relevant internal procedures to prevent and manage conflicts of interest.
This analysis is compiled by independent analysts (hereinafter referred to as 'authors') based on personal estimates.
While every reasonable effort has been made to ensure that all sources of content are reliable, and that all information is presented in an understandable, timely, accurate, and complete manner, DOLPHIN MARKETS Ltd does not guarantee the accuracy and completeness of any information in the analysis report.
Any past or simulated performance of financial instruments indicated in the content should not be interpreted as an express or implied commitment, guarantee, or implication by DOLPHIN MARKETS Ltd regarding any future performance. The value of financial instruments may both increase and decrease, and asset preservation is not guaranteed.
Leveraged products (including CFDs) are speculative and may result in losses or profits. Before you start trading, make sure you fully understand the risks involved.
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