Started by PocketOption, Jan 24, 2023, 07:52 am
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MetaTrader 5, or more popularly known as 'MT5', is the latest edition multi-functional, multi-asset trading platform from the house of Metaquotes. Used globally by Forex, stocks, and futures traders, MT5 is designed for experienced traders as it is integrated with advanced components and numerous add-ons.
If you're deep in the world of trading, or even just dipping your toes in the shallow waters, you've obviously heard of MT5. But how much do you really know about the most popular platform in the world?That's what we're here to clear up.
In this guide, we'll discuss the many components of MetaTrader 5 and what it offers traders by covering its key features and functionalities, advantages, disadvantages. This guide will also teach you how MT5 can cater to your trading journey.
Released in 2010, Metaquotes revealed the MT5 platform as heir to their ever-so-popular MetaTrader 4, which held the benchmark for trading platforms worldwide since its debut five years prior. For over 11 years, Metaquotes has maintained the standard for online traders, crowned for the company's technology, functionality, and reliability amongst retail clients and white label companies alike.
The initial release of the MetaTrader 5 platform came to light as a stage for advanced Forex, stocks, and futures traders to up their game with added features that otherwise could not be found in the simplified MT4.
Yes, it's true. Those who are familiar with MetaQuotes will argue that the original MT4 doesn't fall short of MT5. That is, in terms of trading functionality and user experience. So, you're probably asking yourself – Why in the world would MetaQuotes come out with a new release if the original is so successful? Let's not forget to mention that MetaQuotes practically rules the trading platform kingdom, so fear of competition wasn't really an issue to consider.But just as technology has vastly advanced in the last decade, trading technology must continue evolving to keep up the pace with this generation of tech-hungry users. While some traders stick to the 'if it 'ain't broken, don't try and fix it' mentality and stay firmly loyal to the OG MT4, for others, basic technology just doesn't cut it anymore. Traders, especially those with extensive market knowledge and trading experience, are hungry for more.
Although we've covered that MetaTrader 4 doesn't necessarily fall short of its latest version MetaTrader 5, it's evident with each software update comes a list of advantages that traders won't find in the previous edition. So, in some respects, certain traders see the well-loved MT4 as a ‘thing of the past.’
MetaTrader 5 has one of the largest numbers of indicators and signals available. This happens to be one of the factors that give MT5 a huge advantage over its previous version as well as other competing platforms. This is hugely appreciated in the trading community and implemented by traders who seek maximal accuracy in their market moves.
The number of trading possibilities and technical analysis tools available on the multi-asset platform simply blows competing platforms out of the water. MetaTrader 5 white label offers the built-in Market of trading robots, strategy developers' Freelance databases, Copy trading, and Virtual Hosting service. There’s also a community website for traders to socialize and discuss trading strategies, download thousands of free trading robots, subscribe to trading signals, and copy the deals of successful traders.
Importantly, MetaTrader 5 allows traders to fully enjoy the freedom of mobility to the full extent. Users can stay active while trading through any web browser on any device: PCs, smartphones, tablets – you name it.
Advanced traders. The MetaTrader 5 platform isn't promoted to experienced traders by chance. The platform's latest version is certainly a better fit for advanced traders. This is due to its sophisticated features and additives. MT5 provides price data, allowing the use of special type or non-tradable assets such as physical gold. This also allows traders to increase margin for open positions on other instruments and create custom financial symbols.
Day traders. Day traders deal with the fast-paced moving markets in short time increments. Thus, a trading platform that's speedy, responsive, robust, and powerful crowns MetaTrader 5 as a reliable choice for active traders who execute intraday strategies to profit from price changes for a given asset.
Metaquotes has begun to prod clients toward shifting from MetaTrader 4 to the newer MetaTrader 5 with every release note. And although MT5 does have its advantages and unique features which are not found in MT4, some of the best Forex brokers and White Label providers are hesitant to purchase new licenses. Traders themselves aren't jumping to make the switch either. They don't want to lose the programming language that they're familiar with.
Metaquotes struggle to pose an argument convincing enough for traders to switch over to MT5. This makes independent Forex brokers and white label providers less eager to "level up". Demand for the new technology still just doesn't beat that of MT4. And let's be honest, you can't really blame an entire population of traders for not jumping on the MT5 bandwagon. It's clear that the vast majority of traders are newbs, and probably a less-suited fit.
What type of trader is MT5 designed for? To answer this question, we need to understand a trading platform provider’s main target audience: The average trader.According to survey results from "Forex Statistics & Trader Results from Around the World":In 2021, 70% of all traders globally have only been trading for up to 3 years. 31% of those have been trading for less than a single year. Traders with 4-9 years’ experience account for 23%, while those that have been trading Forex for over a decade account for only 7% of all traders.
With these numbers, Metaquotes is rightfully in a pickle. Since MetaTrader 5 targets the big-shot traders, the rest of the trading population remains unimpressed by MT5’s advantages on MT4. Considering that most of these advances are still way above the average trader's reach or level of understanding. Less seasoned traders might find MT5’s trading platform more complex to use. Another reason why forex businesses are still leaning heavily towards MT4 white label solutions.
The numbers speak for themselves, and the bottom line: The most popular trading platform in 2021 is still the classic MT4, used by 85% of traders. The second most popular platform is MT5. Second place, not bad, right? That's if you choose to ignore the fact that only 6% of traders around the world are using MT5 today.
Metaquotes recently cut off support for MT4, pushing brokers into a corner and advocating the sole use of MT5. MetaTrader 5 – or nothing at all. Increasing pressures much?On the softer side of the pillow, Metaquotes is giving newly added value to its MT5 software by allowing equity brokers to offer the software for stock exchange trading.
An attempt to conquer another trading population.
In the past, Meta Trader was mainly marketed to businesses seeking forex brokerage solutions. Today, MetaTrader 5 is offered for a variety of different markets.
For entrepreneurs looking at how to start a forex business, MT5 can be purchased both as a server license or through white label solutions. Both options come with certain advantages and disadvantages, so deciding which is the best fit for your needs entirely depends on your business' specifications and long-term goals. However, since purchasing the entire MT5 server comes at a very steep cost, an MT5 white label platform solution is undoubtedly the most cost-efficient and cost-effective option for launching a Forex brokerage.
It appears MetaQuotes, as a way of encouraging the adoption of MT5 from new brokers, has not made MT5 more expensive than its predecessor. For each White Label, Metaquotes charges an upfront, flat fee of $5,000 and an additional monthly support fee of $1,750 a month (mobile and desktop version included in the fee).
MetaTrader 5 has enough improvements and new features to warrant a download, but the die-hard MetaTrader 4 community still strongly defends its version. For prospective entrepreneurs researching how to open a forex broker business, it's important to consider the type of trader you will want to attract to your company. Are you looking for a quantity of less-experienced traders? Or rather, quality of advanced, experienced traders regardless of the amount?Seeking out the best results? Look for a Forex turnkey solution provider who can offer you both MetaTrader 4 and MetaTrader 5 so that you can decide for yourself according to the traders you'll want to attract.
Today, there are few Forex turnkey solutions that offer packages with MT4/MT5 as a platform supplier, as well as offering their own trading platforms. Although platforms like Sirix are less popularly acknowledged in the trading world due to MetaQuotes' long-lasting hypnosis on its audience, brokerages and traders will be astounded by its abilities.
For both established and starting brokerage firms, it's worth checking out Leverate's LXSuite - the next generation Forex turnkey solution including website creation for your brand. LXSuite facilitates everything you need to turn your firm into a powerhouse in the industry, including:
Learn more about LXSuite and get an overview of the package and its benefits.
MT5 is a safe and legit platform developed by Metaquotes, a privately held Cyprus-based company founded in 2000. The Metatrader software is developed for brokers in Forex and CFD trading.
MT5 is a multi-asset platform suitable for trading in the Forex, Stocks, and Futures markets. The platform provides all the tools for financial trading – Technical and fundamental analysis, algorithmic and copy trading, and development of custom indicators and trading bots.
MT5 was designed for Forex traders while catering to more financial markets. The platform allows you to also trade individual stocks and commodities in cash.
MT4 and MT5 use different programming languages, and while MT5 allows faster backtesting and DOM (depth of market functionality) and is technically supported by MetaQuotes, while MT4 no longer provides technical support. Both MT4 and MT5 are good platforms. MT5 is generally more admired by experienced traders.
MT5 starts at $75,000 for 1,000 users and runs up to $300,000 for 200,000 trader accounts. Through a White Label solution provider, however, the costs of MT5 are diminished significantly.
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