MetaTrader 5 (MT5) is a multi-asset platform that allows trading Forex, stocks and futures. It offers superior tools for comprehensive price analysis, use of algorithmic trading applications like trading robots, Expert Advisor and copy trading. 

Apart from offering more advanced trading functions, this platform makes a number of superior tools using which traders can easily carry out both fundamental as well as technical analysis and trade in a better manner. It provides the mobile or Smartphone version of the MT5 software is available. As such, it is a good idea to choose Winstone Prime MT5 broker if your goal is to trade currencies and other assets from a single platform. Here we have described the benefits of MT5 trading platform in detailed view. So let’s see the benefits.

About MT5 Platform

MetaQuotes Software released the MetaTrader 5 (MT5) online trading platform in June 2010, following the wide acceptance of the company’s MetaTrader 4 forex trading platform by both the trader and broker community. The key aspect about MT5 is that it has been developed using a programming language known as MQL5. MetaTrader 5 (MT5) is the next generation trading platform, While MT4 was optimized for forex trading, MT5 is functionally intended to accommodate more asset classes which include cryptocurrencies. 

Benefits of MT5 Platform

1. MT5 presents a powerful trading system, consisting of features such as Market Depth and support for different types of orders and modes of execution. The mode of order accounting for forex trading is the hedging method and it allows you to open multiple positions in one financial instrument either in the same or opposite direction. Forex traders can make good use of this feature. The four types of order execution supported by the MetaTrader 5 terminal are Market order, incomplete order, Stop order and Trailing Stop.

• Market order: Trade orders can be completed immediately with the consent of traders or brokers for immediate execution. There are two types of market orders on MT5.
• Incomplete order: Orders can be executed in the future as soon as the market condition adapts to the guided circumstances. Six types of incomplete orders are available.
• Stop order: It can be used with market and imperfect orders to reduce losses and lock profits. The MT5 has two stop orders.
• Trailing Stop: Stop-loss can be marked based on current prices. If the prices move in the opposite direction, the stop-loss levels change.

2. The ability to correctly predict the direction of movement of the market in the future is the dream of all traders. MT5 provides traders with a lot of analytical tools for price analysis as well as forecasting. The key aspects in this regard are:

• Traders can open up to 100 charts
• Charting system includes 21 time-frames (1 minute to 1 month)
• 80 analytical objects and built-in technical indicators
• 39 graphical objects
• 38 technical indicators
• 4 scaling modes;
• 17 client indicators display styles. The exceptional tools available for technical analysis help you to prepare for any changes in the markets.
  

3. The tools for fundamental analysis such as the economic calendar and the financial news service from international news agencies are made available on the MT5 platform to help you forecast the price movements of financial

4. Algorithmic trading or using robots to execute forex trades is by far one of the fascinating features offered by the MT5 platform. In short, robots analyze and trade the forex market on your behalf. You just have to feed in the strategy that the robot should follow when trading for you. The algorithmic tradingis made possible by the MQL5 development environment. In fact, it enables traders to develop, test, debug, and optimize trading robots for their needs. The MQL5 environment will also enable faster execution of orders as compared to the MetaTrader 4 platform. In addition to allowing you to use complex expert advisors, the MT5 platform enables processing of large amounts of information.

5. The MetaTrader 5 platform enables you to enjoy a great deal of flexibility. You can trade currencies from your smartphones or tablets. The MT5 Web platform provides more possibilities and enables you to use any web browser as well as all devices. You can choose the platform that best suits your needs and trade currencies 24 hours every day.

6. Another important aspect is that you can purchase additional services and enhance the MT5 platform’s functionality. This offers limitless capabilities for the platform. In fact, MT5 offers an inbuilt trading robots market, freelance strategy developers database, copy trading and virtual hosting services.

7. In order to conveniently and quickly analyze trading activity MT5 makes available inbuilt advanced reports. They are helpful not only in tracking initial as well as final deposit values but also in understanding indicators such as Z-score, Profit Factor, and GHPR, among others.

8. MT5 offers a high-level of security. All data transfers are compressed and encrypted based on 128-bit keys.

9. MT5 offers an unlimited choice of shares, commodity, index and ETF CFDs, as well as Forex and Cryptocurrencies. So it’s More assets, more opportunities.

Summarizing, it is important that you have a simple, multifunctional trading platform if you want to enjoy success as a forex trader. Winstone Prime platform is your best bet in this regard.