The multi-asset trading platform MetaTrader 5 was created using MQL5, a special programming language, to provide multiple functionalities to it. The platform is created by the company Metaquotes which previously created MetaTrader 4. This automated trading software is also used to trade other assets such as stocks and commodities, among others, in addition to currencies.
Following mentioned are the benefits offered by the MT5 trading platform:
- It provides a very powerful forex trading system and offers features like separate trading and ordering accounts, support for not only various types of orders but also modes of execution, and market depth. The platform supports four order execution methods. These are the request, market, instant, and exchange.
- As a trader, you want to be able to predict the market direction the future in a precise manner. This is because it enables you to become successful as a trader. The MT5 platform provides you with several analytical tools, enabling precise price analysis and forecasting.
- The key aspects related to this aspect are charts, time-frames, analytical objects, built-in technical indicators, graphical objects, technical indicators, scaling modes. These exceptional tools are used for technical analysis and it helps you to prepare well for any market changes.
- The tools used for carrying out fundamental analysis like the economic calendar, the financial news service provided by international news agencies, etc are made available to you by the MT5 platform. This helps you to forecast the movements of prices of various financial instruments.
- Robotic or algorithmic trading feature offered by the MT5 platform is by far the best and most fascinating. Robots analyze the market and trade on your behalf. You are required to just decide the strategy and set up specific instructions. The robot would follow the instructions and execute trades for you.
Go right here to read about the added features in the MetaTrader 5 platform that are unique and will help a lot in your forex trading experience.