Coming as the latest generation of trading platforms, MetaTrader 5 has advantages that previous generations of trading platforms did not have. Does MetaTrader 5 make trading profit opportunities greater? 

Latest trading platform

Unlike its predecessor, MT4, MetaTrader 5 is considered to have more advantages, as evidenced by the availability of 38 technical indicators that forex traders can use to predict trends more accurately. MetaTrader 5 was released in 2010 by the same company as MetaTrader 4, Metaquotes Software Corp.  Similar to its predecessor, MetaTrader 5 is one of the software applications or online trading platforms used by traders to access certain forex broker systems so that traders can trade forex easily. MT5 is not only available as software for PCs or laptops, but also in mobile versions either Android or iOS and can be downloaded and installed on your smartphone. This one application can be applied in various OSs or operating systems. Many forex brokers and traders prefer to use MT4 because expert advisors and custom indicators built in MQL 4 cannot be used in MetaTrader 5. There are many advantages of MT5 that benefit traders.  Trade can fill out the GIC Trader Assessment, yes, before moving on to the discussion of the advantages of MetaTrader 5.

What are the advantages of MetaTrader 5?

Just like any other software, the latest output is bound to be created with the goal of outperforming its predecessor. There are several advantages of MT5 that MT4 or other trading platforms do not have that benefit traders a lot. Here's the review.

1. More diverse timeframe options

Unlike MetaTrader 4 which only provides charts in nine timeframes, MT5 can display 21 timeframes, ranging from M1, M2, M3, M5, ,10, and so on to annual timeframes. The use of timeframes when looking at charts is one of the important factors in making decisions. The more timeframe options there are, the more free traders are to make trading plans.

2. There is an economic calendar

If you are a trader who likes to trade when important news is released or a trader who avoids the market when important news is announced, a calendar will be a major necessity for you. This feature is not available in MetaTrader 4, but it is in MT5 that provides this calendar for traders' convenience, complete with impact gauges, forecasts, and previous data records. Therefore, you no longer need to open and close the platform just to see the latest news schedule.

3. Provides 100 charts and 38 technical indicators

Forex indicator is an important key in every trading platform. Both timeframes and technical indicators are very influential for the ease of analysis of a trader. If the options that the platform provides are limited, then it will hinder the trader's analysis to forecast the price more optimally. The advantage of MetaTrader 5 being able to offer a wider variety of timeframes and indicators is the right solution to improve your forex trading analysis.  Well, MT5 provides 38 technical indicators and also provides more built-in indicators than MT4 or any other trading platform.

From the 'Insert' menu in the MT5 toolbar, you will find a wider variety of moving averages, oscillators, and custom indicators. Traders can also open 100 charts at once. A feature for trading with tick charts is also available, which clearly benefits traders, whether scalpers who prefer low timeframes or swing traders. Even if you want to buy indicators on the MQL website, then from MT5, you can access them directly from the 'Market' tab, easily and practically.

4. MT5 performance is definitely more optimal

Unlike MT4 which still freezes, errors or even closes itself when the memory is full, MT5 can minimize the risk of this happening. Basically, MT5 5 is indeed maximized as an application that can operate faster and lighter, so that the standard of performance can be higher than using MetaTrader 4.

5. Investors easily diversify risks

The next advantage of MetaTrader 5 is its ability to present forex, futures, and stock trading platforms in a single interface. This advantage is very beneficial for traders who trade in several markets at once, so they can maximize money management or diversify risks. So, if you're asking which MetaTrader 5 vs 4 is superior, you already know the answer.

How do I download MetaTrader 5?

Well, to be able to download and use MT5 is very easy, first you need to open a demo account or live trading account first at one of the forex brokers of your choice. Once you have successfully registered, you will have a username and password, and the forex broker will send a link to download MT5 to your email address.  If you want to download the mobile version of MT5, you don't have to bother searching for the MetaTrader 5 APK on search engines, you can download it through the Google Play Store or App Store. Is there a web version of MetaTrader 5? The answer is no, because it is already in the PC or laptop version, so you can directly download it on your PC or laptop. The easiest way is to go to this page, and find the 'Download MT5' menu on the top side. 

What does MetaTrader 5 look like?

Not much different from MT4, the interface interface of MT5 consists of some of the same parts as its predecessor. So, those of you who are used to using MT4, can definitely also use MT5, but with features that are much superior to MT4.  MT5 consists of several sections, at the top of MetaTrader 5, there is a menu bar containing various options, to change the appearance of the platform window you can click 'View', to insert certain tools on the chart, select 'Insert', to change the chart display you can select 'Charts', place orders, test, or edit the trading robot using 'Tools'. To increase the number of chart windows on one screen, select 'Window', and if you are confused and want to get instructions on using MetaTrader 5, select 'Help'. Below it are also shortcuts to various equipment that traders use most often. On the middle side, there is a window display with a white background, you can see the price chart. The price chart on the display is in the form of candlesticks which are the most popular type of chart among traders. Each candle represents a price fluctuation in a specific period (timeframe).  For example, the H1 timeframe, each candle contains information on the opening price, closing price, high, and low price in one time period. You can change the timeframe on the chart by right-clicking on the chart, then selecting 'Timeframes', by changing the timeframe, you can get a broader picture of the price trend in the short, medium, to long term.  On the left side, namely 'Market Watch', you can find a row of currency pairs that can be used in trading, there are EUR/USD, GBP/USD, USD/CHF, and so on. If you click and drag one of the currency pairs onto the price chart display, the movement of that currency pair will appear immediately.  Under the 'Market Watch', there is a 'Navigator' containing account details and some extra features that can be added in the same way to the top of the price chart. Finally, on the bottom side of MetaTrader there are several tabs to view transaction reports and trading history, get the latest news, receive messages from forex brokers, and so on.

Why do GIC prefer MetaTrader 5 over MetaTrader 4?

MetaTrader 5 meets the modern need for convenient and multifunctional tools. It is far superior in quality and functionality compared to many analogues. The following advantages make it an ideal solution for efficient trading on GIC.

A powerful set of tools

The platform offers a large selection of features that allow you to automate many processes and optimize your strategies:
  • 21 time frames;
  • 38 technology indicators;
  • 44 graphic objects;
  • up to 100 charts at a time;
  • copy trading options;
  • all types of orders;
  • Market Depth;
  • economic calendar;
  • MQL5, etc.
However, the most important thing is that MetaTrader 5 provides access to a wide range of trading instruments: currency pairs, commodity stocks, futures, options, and bonds.

In-depth market analysis

All of the above tools allow you to conduct in-depth technological and fundamental analysis using charts, economic calendars, news feeds, technical indicators, and more. You can follow the market dynamics and make informed conclusions about the need to open or close a transaction. In addition, changes are monitored in real-time. And the built-in reports will help you evaluate the effectiveness of your strategy based on the total number of transactions, average profits and losses, expected value, and so on.

Testing new strategies

In the fifth version of MetaTrader, the option to create your own Expert Advisors (EAs) using MQL5 is available. If you know the language at least at the initial level, you can create experts and indicators depending on what you need from them. MetaEditor in this version of the platform has received significant improvements, so it works better and faster. After creating a new EA (or buying it), you can test it on historical data. If the job is successful, run it on a real account.

Compatibility with most devices

Like all modern business solutions, MetaTrader 5 is compatible with a wide range of devices and platforms. You can install it on PCs and laptops (Windows, macOS, and Linux), as well as on tablets and smartphones (Android and iOS). Thanks to that, you can trade wherever you are. The program is distributed for free, and you can download it from the website of your official broker or developer.

Automation of many processes

Built-in tools and extensive customization options make MT5 a highly flexible solution. By setting up automated orders and alert systems, you don't have to sit in front of a screen all the time waiting for profitable opportunities. As soon as the indicator of the asset you are interested in reaches the desired point, you receive a notification. Of course, this does not exclude your work and market analysis, but it is very helpful to make your trading strategy more effective.

Still having trouble using the MetaTrader trading platform?

No need to worry, if you find it difficult to use the trading platform. This is not because the trading platform is difficult to use. To make it easier for you to become an expert trader, join the trader community on Telegram GIC Forex Academy which will provide information and trading education that is often held by GIC.  You can also join the trader community on GICtrade Telegram to ask fellow traders directly about their trading experience. Also follow GIC Instagram to get webinar information and various attractive prizes. In addition, on YouTube GIC, traders can also learn to trade for free! What are you waiting for? Get more features that fully support you to start investing and trading forex through GIC. Make transactions simpler, safer, and more profitable. Start by creating a demo account, you can try out the MetaTrader 5 trading platform provided by GIC.