Since the popularity of MetaTrader 4 is so widespread, MetaQuotes Software decided to take the best components of MT4, include some additional features and launch MetaTrader 5. It has taken them years to finally introduce MetaTrader 5 to the public. And sure enough, it is a top quality successor to MetaTrader 4. So let’s dive in this Forex platform MetaTrader 5 review and see what it is all about.
MetaTrader 5 Review: the Basics
Just like its predecessor, MetaTrader 5 has an easy to use interface and learning how to navigate through all the options and tools is no problem, especially if you have already used MetaTrader 4 in the past. Speaking of MT4, all those fabulous features included in that trading platform are still here, with a couple of brand new ones.
For instance, MetaTrader 5 allows you to manage multiple accounts through a navigator with just a simple click. So if you are using different strategies on a number of accounts, you will be able to monitor everything that is happening with each and every one of them. Other MetaTrader 5 FX reviews draw attention to this feature since it makes trading a whole lot easier.
MT5 Features Review
What you need to understand is that MetaTrader 5 wasn’t created to replace MetaTrader 4, but it is simply an upgrade and it gives you an alternative option. So what makes this version of MetaTrader different from the previous one? The developers simply included some additional add-ons which were not available before, such as a larger number of graphs to choose from and indicators which are ready to use.
MetaTrader 5 Analytical Tools Review
The thing we found very impressive while researching for the MetaTrader 5 review is the thorough analysis you can perform with this trading platform. So if your trading method is focused on analysis, this is the software to use. You will have access to numerous charts with longer timeframes, allowing you to get the best possible representation of the market movement.
MT5 Indicators Review
With the built-in indicators already included in MetaTrader 5, all you need to do is pick and choose the ones you wish to use. Of course, you will have an access to a code base allowing you to add your own custom indicators, or you can create a custom one if you are code savvy and know how to use MQL5. Implementing an expert advisor has never been easier and you should take an advantage of that.
Some traders complained about the lack of orders within MetaTrader 4, and that issue has been fixed with this software version. Now you are able to use all market orders available, including stop loss and pending orders.
There is another detail we would like to highlight in this MetaTrader 5 trading platform review – a super useful trading terminal that provides you with all the data about your account you need, such as the exact amount of funds you have and your previous trading history. And you can also use it to quickly place orders.
MT5 Platform Availability
Like its proceeder MT4, MetaTrader 5 is available on various platforms, from desktop to iOS and Android. We advise you to read such reviews:
- MetaTrader 5 Desktop Platform
- Android app for MetaTrader 5
- MetaTrader 5 iOS app review
- Social trading signals for MT5
- MetaTrader 5 Web-Trader review
- Automated trading by MT5
MetaTrader 5 Review Conclusion
After doing an in-depth testing of this trading platform for this Forex MetaTrader 5 review, we have come to a conclusion that this truly is a great trading platform. I personally love the fact that they kept the simple interface and decided against complicating things. The additional tools are very useful and you will love them if you focus on technical analysis. We will finish this MetaTrader 5 FX platform review with a recommendation that you try this software for yourself. You will not regret it that is for sure.