MetaTrader 5 Tutorial How To Use In Binary Options

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MetaTrader 4 or MetaTrader 5?

Traders always wonder what trading platform they use. However, this choice is associated with a broker, because brokers do not offer all types of trading platforms. Moreover, some brokers have no real compatibility with certain trading platforms. They offer access to them through the bridge, which is a piece of software that connects business system of the broker platform. It all can work satisfactorily, but if the bridge will fail or will run slow, it may adversely affect the execution and trade management.

Metatrader 4 trading platform is very well known, and, of course, we can say that it sets the industry standard. You almost never see a broker who would not offer to trade directly through the platform or via a private bridge on the platform, although this may be due to some higher cost spreads and / or commissions. Traditional platform Metatrader 5 offers somewhat less, although it is produced by the same company (Cyprus, MetaQuotes Software Corporation). To understand why this is so, we must look carefully at the platform.

What is Metatrader 5?

Since Metatrader 5 was released in 2020, five years after the release of Metatrader 4, and at a time when Metatrader 4 was quite popular, as well as through a sequence of rooms in the names of the platforms, there is a General misunderstanding of what Metatrader 5 has been updated, upgraded version of Metatrader 4, which was designed for better performance. This is just not true! Although this trading platform and machine for preliminary testing as Metatrader 4, and graphical user interfaces look quite similar. Any adequate review of Metatrader should indicate this.

Metatrader 5 is really designed to do some of the things that Metatrader 4 was not able to do. Actually, it was aimed at a different market, and therefore there is very little reason to participate in a panel discussion on “MT4 vs MT5”.

In fact, Metatrader 5 was designed to be able to trade on other markets in addition to Forex, because it is better connected to the centralized trading exchange. Forex is decentralized market. Some of the major players provide liquidity not coordinated way. Stocks & commodities, the latter of which mostly traded as a futures contract, as a rule, to trade through the centralized process before property can change hands with full legal effect. At the time of development and release of MT5, we can assume that Metaquotes has provided a boom in retail stocks and commodities, and developed software to meet this market.

Another major factor of the differential design was its conformity to the “non-rules” U. S. A. According to ima clients of Forex brokers in USA should have a case against the F. I. F. O. (first output). This means that, for example, if a trader is long 1 lot of EUR / USD and then continues an additional 1 lot of EUR / USD, first trade must be closed before a second trade can be closed. Although Metatrader 4 records at each trade individually and allows you to separately manage each individual position separately, Metatrader 5 automatically aggregates all positions. So the only Metatrader 4 can engage in the hedging Metatrader 5 can not. It is normal for traders in the United States, because in any case it is legally prohibited, but in most of the rest of the world, many traders find the inability to perform hedging operations, it is very annoying unnecessary handicap.

This is probably the main reason why many traders are faced with the fact that they “pushed” the use of Metatrader 5 on the place Metatrder 4 their brokers and may also MetaQuotes.

Thus, Metatrader 5, was developed to attract markets outside of Forex markets and the US markets. Also MT5 is aimed at meeting the needs required for these markets, it is better than Metatrader 4. This is a true story MT4 vs MT5.

What is the difference between trading platforms MT4 and MT5 Forex?

Two main differences have already been covered, but there are several others that are worth noting in any comparison MT4 and MT5.

Metatrader 5 uses a programming language called MQL5, unlike MQL4, which is used Metatrader 4. A fascinating thing in MQL5 is that it’s like a “black box” programming, which, conversely, means that it is easier to program. It is logical that it will be better for users and developers of trading robots and other expert advisors. However, MetaQuotes has expanded this opportunity in the MQL4 in 2020. Therefore, it is not the difference between the platforms, although the possibility exists that if we in the future will be modernized, but MetaQuotes will not distribute any updates on MQL4 as in MQL. But this difference will be significant difference between these two platforms.

It should be noted that there is no backward compatibility. Programs written for Metatrader 4 and can not work in Metatrader 5. This can be a serious drawback for traders who want to “upgrade”. It is also a key reason why such a change should not be seen as updates.

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First, his back testing with the help of which you can test programmed trading strategies are executed at a much faster speed, is a function that can save a lot of time if you’re the trader who needs to hold a large number of back tests. It also allows performing analysis of multilingual couples. Together, this can accelerate the testing procedure is immeasurable.

What trading platform is best for you?

The answer to this question should seem fairly clear now after reading the above comparison MT4 and MT5. If you must comply with the requirements of us law for any reason, you want to make a large number of tests on the back surface, using the platform in standalone mode, or you want to access the exchanges of stocks and commodities that are difficult to reach via Metatrader 4, Metatrader 5 is the obvious choice for you.

I must say that otherwise there is no reason not to use Metatrader 4 remains a time-tested and proven gold standard in its field. It is much more popular than Metatrader 5 and this for many reasons. For example it is easy to use and manage, and typically less glitches than its competitive browser platforms.

The prospect for the trader

Most experienced traders will tell you that all they really want from the trading platform is reliable and easy to use, intuitive but not bad. They will also tell you that, though Metatrader 4 can have some unpleasant features, but it works well enough and allows them to stay on top of your trades and charts. Since choosing a broker is actually more important than the choice of platform. All advertising focused on the platform, and the related Metatrader – this is probably just tricks. It is better to forget, because almost every broker has access to Metatrader 4.

Trading in MetaTrader 5 video tutorials

The video below helps traders learn the basics of operating the modern financial software – MetaTrader5 platform.

MetaTrader5 is the fifth version of the most popular trading platform among traders all over the world. It enables trading currencies, CFD, futures, and stocks.

The video guides you through the basics of using the platform: from setup to applying various trading tools and opening and closing trading positions.

Platform setup

The video tutorial will help you easily setup the MetaTrader 5 platform on your PC. Besides, it is the first video lesson to start with your story of success on Forex market.

Platform settings

Watch this video tutorial and learn how to adjust the platform. The video will help you change the platform settings according to your preferences and trading style.

Using Forex charts

The “Using charts” video tutorial will show you how to work with the charts in the MetaTrader 5 platform. Careful study of the Forex charts helps you learn Forex market behavior and understand the reason of price fluctuation of various instruments and their correlation.

Trading: positions and orders

The “Trading: positions and orders” video shows the process of opening positions with the help of market orders made in the MetaTrader 5 platform. After watching this video tutorial, you will be able to open positions with the necessary parameters.

Market Watch window

Find all financial instruments for trading in the Market Watch window of the MetaTrader 5 platform with the help of this video tutorial. Watch the video and learn how to work with the tick charts, Forex quotes and trading charts.

Data Window and Indicator window

If you want to make indicators analysis easier, watch this video tutorial and learn the details of Indicator window and Data Window. Indicators are the best friends of traders. Do not miss the chance to start using them professionally.

This video tutorial is devoted to the Navigator window that helps to get access to various resources of MetaTrader 5 platform. The Navigator window is designed to make your trading more convenient with quick access to multiple options.

Toolbox: Trade and History

Get more information on the Trade and History taps from the multifunctional Toolbox window. The Toolbox window contains several taps for different options. It will help you to monitor the market situation online and review the history of trades.

Graphic tools

This video material is devoted to the graphic tools and their effective use in the MetaTrader 5 platform. MT5 offers well-known and popular graphic tools as well as new ones. Learn their pros and cons by watching this video.

Managing the workspace

Manage your workspace in the MetaTrader 5 platform correctly. Watch the video and follow our advice on how to conveniently and simply arrange your workspace in the platform to improve your trading.

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How to start trading on the MetaTrader 5 Android mobile app

Watch the video on how to start trading on the MT5 Android mobile app or look through the steps below. MetaTrader 5 for Android lets you trade whenever and wherever you like. To trade Forex on the go, first you need to download the mobile application.

Log in to your existing OctaFX MetaTrader 5 account

  • Open the app and add a trading account by clicking a + icon in the top right corner.

  • Then you need to connect to a broker. Type OctaFX in the search box to find our server.
  • Next you’ll need to enter your login and password. You can choose Demo server to log into your Demo account or Real to use your Real account. Please note that every time you open a new account, we’ll send you an email containing that account’s login (account number) and password. Remember that your login always matches your account number.

Start trading on MetaTrader 5 for Android

Once you’ve logged into MetaTrader 5 for Android you can start trading! The Quotes tab is where you’ll find the list of pairs available to trade, with their ask and bid prices.The ask price is used to buy a currency and the bid is for selling. The ask price is always higher.

To open an order you need to press the currency pair you want to trade, then choose New order.

In window that opens, you’ll need to choose the volume of your trade by entering a lot size. Decide whether you wish to buy or sell the asset. The order will be opened immediately after you click on either the Sell or Buy button.

After opening the trade you’ll be redirected to the Trade tab, where you can see your opened orders.

To close or manage a trade, you need to press and hold it in the list for a second. Then you’ll see the options Close position or Modify position. After you press the Close button, your trade will be closed and your profit will be credited to your account balance.

Press the currency pair and select the Chart option to open the Chart tab and inspect the chart. You can rotate your screen to view charts more clearly. You can open trades from this tab by tapping the Trade button.

We recommend you familiarise yourself with the options available in MetaTrader 5 for Android. This way you can trade Forex at any time, in any place!

To find out more about Forex trading, please follow the article on how to start trading in 4 easy steps.

To install MetaTrader 5 on your phone, please follow the relevant link:

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