More Power and Flexibility to Trading: Get Started with MT5

Introduction

The launch of MetaTrader 5 (MT5) followed the huge popularity of MT4. This next-gen trading platform was designed to handle a wider range of financial markets, including cryptocurrencies, and offers enhanced charting tools, more timeframes, and a built-in economic calendar.

More flexibility with additional accounts

It’s easy to link MT5 with your ADSS trading account. ADSS offers 3 types of accounts to cater to different trading capabilities. These are: Classic, Elite and Pro. The Classic account can be opened with a minimum deposit of as low as $100 and get access to leverage of up to 500:1. The Elite and Pro accounts are designed for more experienced traders .

Let’s delve into how you can start trading with MT5.

Open an account to kickstart your trading journey

MT5 offers multi-platform accessibility, including desktop, mobile and web browser. Whether you’re at your desk, on the go, or simply prefer the convenience of a browser, you’re covered.

How to Open a Demo Account?

You can choose to first open a demo account, to practise trading with virtual money. Although you won’t be using real money, the demo account simulates actual trading in real-world conditions.

Trading on your PC or laptop? Here are the steps to follow:

1. Register by filling in a simple form with your basic details. No credit card details are needed at this stage
2. Your demo account is added with virtual funds and you can enjoy up to 60 days of risk-free trading
3. Choose MT5 for instant access to the platform on your web browser
4. Begin exploring the platform
5. Practise trading to experience live trading on a wide range of markets without risking your capital
6. Get access to exclusive video guides on how to trade the financial markets
7. Enjoy dedicated support for any questions you might have

How to open a live account? 

If you already have a demo account, it means you’re already registered and have downloaded the platform you wish to trade on. Here are the steps to open a live account.

1. Share your identity documents. It’s easier to add your identity documents with UAE PASS. Or you can choose to do it manually.

1. Add funds to your live trading account. This can be done through various methods like bank transfer, credit/debit card, or other online payment options.
2. If you had not opened a demo account, you’ll need to download the app or desktop version at this stage.

Personalise Your Workspace: Customise Chart Colours and Layouts

You can change the appearance and properties of each chart in the trading platform.

Click ‘Charts’ in the top left corner to open the dropdown menu. Or simply right click on the chart. Click ‘Properties’ at the bottom of the menu. A pop-up with all the options will appear.

There are 3 tabs in the pop-up. The first tab, called ‘Common’ gives you options to change the layout. You can choose from Bar chart, Candlesticks and Line chart. Candlestick is the most popular option as it captures the most information about price movements in a very easy-to-understand format.

From this tab, you can also choose to enable auto scroll and fix the scale of the chart to your preference.

The 3rd tab is for changing colours. You have the flexibility to change the colour of every element of the chart. You can even have different colours for bullish and bearish candles. While there is a wide range of colours to choose from, most traders prefer green or black for bullish candles and red or white for bearish candles. The candles can even be hollow (only the outline is coloured) or filled (complete candle is coloured).

Tip: Once you’ve adjusted the chart settings and added your perfected indicators, you can save them as templates. This allows you to instantly apply your customised layout and colours to new charts.

Seamless Execution: Trading from the Charts

MT5 supports trading directly from the chart. There are two easy ways to place a new order.

From the ‘Market Watch’ section on the left, right click on the symbol of the asset you wish to trade and select ‘New Order’

Click ‘Tools’ in the top navigation bar and select ‘New Order’.

Clicking on ‘New Order’ will open a pop-up on which you can choose the order type and volume you wish to trade. You can also place stop-loss and take-profit orders while simultaneously opening your position.

The platform also offers ‘one-click trading,’ which means you can execute your trade directly from the chart with a single click. This makes trading more efficient as markets can move fast. For this, right click on the chart and select ‘Trading’.

You can also use this to modify existing positions.

Empower Your Strategy: Setting Up Algo Trading

If you wish to automate your trading strategies, MT5 provides a powerful environment for algorithmic trading. The ‘Navigator’ section on the left bottom lists the Expert Advisors (EAs), which are automated trading programmes that can analyse market data, generate signals, and execute trades based on pre-defined rules.

You also have the flexibility to develop, test, and optimise your own EAs. If you buy from the MQL5 marketplace, it’s a good idea to test and optimise these for your trading preferences and financial goals.

Tip: The Strategy Tester tool helps you backtest and optimise EAs using historical data.

Breaking Language Barriers

MT5 is designed to be accessible to traders worldwide. The use of Unicode allows MT5 to translate its user interface into almost any language. This makes it easier for traders to navigate the platform.

ADSS also provides 24/5 support to traders in multiple languages, including English, Arabic, Urdu, Hindi, French and German.

Sign up with an award-winning broker and enjoy the flexibility of trading on a world-class platform. Open an account in less than 5 minutes and kickstart your trading journey.