MetaTrader 5

FAQs

• What is MetaTrader 5, and how does it differ from MetaTrader 4?

  MetaTrader 5 (MT5) is a popular trading platform used for online trading in various financial markets, including forex, stocks, commodities and futures. It is developed by MetaQuotes Software and is the successor to MetaTrader 4 (MT4). While there are some similarities between the two platforms, there are a few differences to note.

  For instance, both platforms offer access to multiple financial markets. However, MT4 is primarily focused on forex trading. MT5 provides a wider range of instruments, including stocks, commodities and futures, making it more versatile for traders interested in different markets.

  MT4 uses MQL4 (MetaQuotes Language 4) for coding indicators and Expert Advisors (EAs), which are automated trading strategies. MT5 runs on MQL5, an enhanced programming language that offers more advanced features, such as object-oriented programming, better code execution speed and access to more libraries and functions. Traders can access code libraries, forums and marketplaces where they can find pre-built EAs and indicators, or they can collaborate with other programmers to enhance their trading systems.

  MT5 also includes a Depth of Market (DOM) feature that displays an instrument’s market depth and liquidity, showing the number of buy and sell orders at different price levels. This allows traders to gain valuable insights into the market’s liquidity and potential price movements — a feature absent in MT4.

• Should I use MT4 or MT5 for trading?

  The choice between MT4 and MT5 depends on your specific trading requirements and preferences. If you primarily focus on forex trading, MT4 may be a suitable choice since it has been traditionally more popular among forex traders. However, if you are interested in trading multiple asset classes, MT5 offers broader market coverage.

  If you prefer the flexibility of hedging, then MT5 is the platform to choose. MT4 supports only the netting position accounting system, consolidating multiple trades of the same instrument into a single position. You are able to test both platforms using demo accounts to assess functionalities and determine which aligns better with your trading style.

• What advantages does MetaTrader 5 offer in terms of order execution and market analysis?

  MetaTrader 5 is a feature-rich trading platform that offers a wide range of tools and functionalities for traders in various financial markets. Along with a comprehensive set of charting tools, indicators and graphical objects for technical analysis, MT5 is designed to provide faster and more efficient order execution. It utilises a more advanced and optimised trading engine, resulting in improved trade execution speed and reduced latency. It is particularly beneficial for high-frequency traders or those who rely on quick order placements.

  Traders can also access real-time financial news and economic events via MT5’s integrated economic calendar and news section, which includes announcements, reports and indicators. Having this information at your fingertips can help traders make smart, more strategic decisions regarding their upcoming trades.

  MT5 provides an expanded set of technical analysis tools compared to MT4. It includes more built-in indicators, graphical objects and drawing tools, allowing traders to perform in-depth technical analysis of price charts. The platform also offers incredible capabilities in terms of market analysis, displaying real-time transaction data, including trade volume, price and time.

• How can I open an MT5 account if I'm already a client of VT Markets who trades on the MT4 platform?

  VT Markets has made the transition from MT4 to MT5 seamless. Existing customers can log into their client portal and open their MT5 account — that’s it! If you’re a new VT Markets client, fill in the form at the top of this page and create your MT5 account in minutes.

• Is there any cost to access and use MetaTrader 5 through VT Markets?

  No — VT Market customers can open an MT5 account and connect to the VT Markets servers, providing on-the-go access 24/7.

• Is VT Markets an MT5 broker?

  Yes. At VT Markets, our mission is to build a reliable and superior trading platform for traders worldwide. That means supporting traders by supplying market-leading resources and tools to help them succeed on their trading journey. Access MT5 or MT4 via your client portal and begin trading today.

• Can I use MetaTrader 5 on my mobile device?

  Yes, MetaTrader 5 is available to download on mobile devices via Google Play and the Apple app store. If you require assistance downloading the platform or would like additional information on MT5, please contact us today — our team would be happy to assist.