The Forex traders and brokers are growing more and more attached to using the MetaTrader tools provided by MetaQuotes Software Corp. And since some of them migrate from MT4 to MT5, we decided to make a MetaTrader 5 desktop platform review to determine what are its strong points and if it is worth to use it or not. First of all, the app is available with most brokers, and this is convenient for the trader.
MetaTrader 5 Desktop Tools Review
Should he change broker, he will be able to use the same platform for his trading and benefit from the same tools, without having to go through the learning process or the adapting period all over again. Second, MT5 is a platform that lets you trade Forex, CFDs, stocks or futures. It includes several useful features, allowing you to make price analysis, but also use trading robots and set up your own Expert Advisor.
The desktop version lets traders have up to 100 charts at a time, has 21 timeframes that will help you make in-depth analysis on price trends, and features over 80 technical indicators. It is also worth mentioning for the purpose of this MetaTrader 5 for desktop review that the platform offers access to the Market, where you may choose from thousands of algorithmic applications, or you could buy custom indicators from programmers.
But let’s take them one at a time. The platform lets you prepare fundamental analysis using financial and industrial data, offers traders access to major international news for around the world in order to be able to have a wide picture of all the events that may impact currencies.
Moreover, it provides the possibility to use signals. Traders may subscribe to signals from other traders with a successful track record and use the pattern of trading to their own advantage. Thus, the risk of trading can be lower and the process can be automated. Trading signals is a service provided by the MT5, and the MT5 desktop platform review shows that some traders prefer to have such a subscription and execute deals in the form of copy-trade.
Now, coming to the technical side of the platform, you may use the desktop version should you have a PC, with Windows installed. The MetaTrader 5 for Windows review show that the operating system should be Windows 7, 8, Vista, XP, and it runs more or less without major glitches. This is a tool available with many major brokers and used by a wide number of traders as well.
Best Forex Platforms offers you to read such reviews:
- Plus500 Desktop Platform Review
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- MT4 Review of the Desktop Trading Platform
MT5 Desktop Review Conclusions
Therefore, the MT5 desktop terminal review revealed that the tool uses a wide range of programs that allow traders to make the most of the FX market, it is constantly updated and improved in order to eliminate potential inconvenience, and it is accessible for all trading strategies. And another significant feature is that it gives access to the Market, a shop where traders can get other tools from third parties that helps them in implementing their strategies.