MetaTrader 5 is an electronic trading platform and is essentially used by online retail foreign exchange speculative traders. It was developed by Meta Quote Software. MT5 is a free application for traders that enables them to perform technical analysis and trading operations in the forex and exchange markets.
The software is exclusively licensed to foreign exchange brokers who provide trading services to their clients. MT5 is essentially software to analyze the market and send signals to your broker. Read on to learn more about potential assets that you can trade.
Forex
You can trade forex on MT5, as this platform is great for supporting forex trading, along with other instruments, such as CFDs, futures, and stocks. To trade forex on MT5, you must first mt5 download and then open an account with a potential broker who offers you access to the forex instruments on their platform. Forex brokers that support MT5 will have a variety of forex currency pairs listed that you can leverage to trade within the MT5 platform.
Metals
Metals, such as gold and silver, are usually traded as CFDs, which are also referred to as “Contracts for Differences.” Also, using the MT5 trading platform, you will trade metals in the form of currency, such as “silver/US dollar” or “gold/ US dollar.” To start trading metals with MT5, you will need to open a trading account first.
Using the platform of MT5, you will get to assess the price movements without actually owning the physical assets yourself.
Stocks
The next asset on the list is stocks. With M5, you can trade stocks, too. Firstly, you must find yourself a broker who offers trading stocks with an MT5 platform. Once you have found the broker, you must download the platform from the relevant website and install it on your device.
Log in to the respective MT5 account while using your credentials. Rest assured, MT5 is great for trading stocks as it opens doors to commodities, cryptocurrencies, and futures markets, all of which you can access from one platform.
Commodities
You can also trade commodities with MT5. Understandably, you will need to open an MT5 account with a broker who offers the option to trade commodities. Once you have downloaded and installed the account, you can easily start trading commodities by navigating to the window marked “market watch.” Subsequently, select your desired order type, such as buy, sell, or any other desired parameters.
Cryptocurrencies
Yes, you read this right. You can trade cryptocurrencies with MT5, too. You already know the drill. You must start by finding a broker who offers CFD trading with MT5. Once you have decided on a broker, download and install the MT5 software on your desired device. You can then proceed to place orders on the platform.
Final Thoughts
Now that you know about the various assets that you can trade with MT5, you should know that MT5 offers so much more than technical indicators and timeframes. You can leverage MT5 for an in-depth market analysis and for tracking real-time liquidity. MT5 has indeed taken trading to another level.
