Metatrader 5, also known as MT5 for short. A popular trading platform widely used by domestic and foreign traders. MT5 is an upgraded and improved version of MT4. When trading on Exness, MT5 is the platform most chosen by traders. The article below EX Trading will help you understand more about MT5 Exness.
Is MT5 Exness used for computers or phones?
In fact, MT5 can be used well on both computers and phones. It depends on which device the user wants to use it on. As previously shared, EX Trading has guided you to download MT5 for computers and phones. It can be seen that the MT5 application fully supports tools, making it convenient for you to trade anytime, anywhere.
For many traders using Exness MT5 for the first time. The question they asked is which device should they download MT5 Exness for.
The nature of MT5 on Exness is to add diverse technical tools. Here you can place buy/sell orders at will. At the same time, monitor the market and use information sources for better trading.
MT5 Exness is good for computers and phones
When using Exness MT5 for computers and phones. They all provide the same complete and diverse range of tools and features. It still depends on the time, needs, and nature of the trader. To choose which device to place orders on.
- For those who work in the office, there is a fixed time to work with a computer. Then EX Trading recommends that you download this application for your computer. When using a computer, the MT5 interface displayed will be easier to see and more comprehensive. Because computers have spacious screens. You can also easily use the tools on the chart. Trading order operations are also much more convenient and easier to see.
- For those who move a lot, there is no fixed sitting time. Then you should download MT5 Exness for mobile phones. Because this device is always with you, you can open the app and place orders at any time. On a phone with MT5 loaded, you can still monitor the market, place orders and use technical tools like on a computer.
Depending on the needs of each trader, choose to download the application for a computer or phone. And you can use it on both devices. Just remember your account information to log in. But if possible, use it on the computer. Because it is easier to see and more comprehensive.
>>>See more: Open Exness Account: Latest guide for new traders
What features and tools are available on MT5 Exness?
If MT4 already has basic features. MT5 has additional advanced features. The Menu bar of MT5 includes many things for you to explore. Below EX Trading will show you some basic tools and features on MT5 Exness :
File
In this File category, you will need to pay attention to a few features as follows:
- Open an Account: Open a Demo account from MT5 software. In addition to opening a Demo account on the Exness website. You can absolutely open a Demo account right on MT5.
- Login to Trade Account: Log in to your MT5 account by filling in the correct information: ID, Password, and Server that you previously registered for the account.
View
In this View section you will need to pay attention to the following 4 features:
Languages
That means you can choose the display language. There are 35 different languages here. Allows you to choose the language that best suits you.
Market Watch
This is where you see the currency pairs and commodities on the market. When we right-click on the Market Watch frame, we will see some of the following features:
- New Order: can directly set Buy and Sell orders. Or pending orders such as: Buy Limit, Sell Limit, Buy Stop, Sell Stop. And Stop Loss, Take Profit levels.
- Chart Window: Displays charts of currency pairs and commodities you are interested in.
- Hide All: Hide all currently displayed products.
- Show All: Display all products.
Navigator
Allows you to add the following technical indicators to the chart:
- Accounts: Displays your login account or another login account. Or you can open a trading account when right-clicking on Accounts.
- Indicators: includes technical analysis indicators, determining market trends. Here, it is divided into 3 groups of indicators: Trends, Oscillators, and Volumes.
If you don’t want to use one of those indicators anymore. Right-click the indicator on the chart and select Delete Indicator.
Toolbox
The toolbox will let you see the transaction parameters. Typically: Equity, Balance, Free Margin.
Insert
Insert includes tools such as drawing, marking, writing, and support for technical indicators. In addition, you can also add technical indicators directly and remove them if you want. In Insert, you need to pay attention to some of the following tools:
- Indicators: Similar to Indicators in Navigator.
Objects include:
- Line and Channels: used to draw lines and trends on the chart to analyze transactions.
- Fibonacci: One of the important and very famous tools in technical analysis. It is used to find effective stop-loss and profit-taking points.
- Shapes and Arrows: Use arrows and geometry to directly mark and analyze graphs.
- Graphical > Text: to add text to the graph.
Chart
You need to pay attention to the following features in the Chart:
- Bar Chart, Candlesticks, and Line Chart: These are 3 popular types of charts and graphs in the financial market. You should only care about the Candlesticks candlestick chart. This type of graph is quite common, intuitive, and easy to use when adding technical indicators.
- Timeframe: Time units in Candlesticks graph. Each candle corresponds to a different unit of time. You can change between those timeframes on the chart by clicking on them directly.
- Template: Once you have found a satisfactory set of indicators. You can save them by Save Template. Then upload it to graphs easily and quickly using Load Template.
- Properties: You can edit the background, candle color, candle type, and some other customizations.
Frequently asked questions when using MT5 Exness
Even though it is a popular trading platform that has been around for a long time, it is also recognized by organizations. But there are still many traders who have questions and hesitations when using MT5 Exness. Especially for new traders who have never traded on this platform. Below EX Trading will answer some of the questions that users ask the most.
What is MT5 Exness?
MT5 is a forex trading platform. This trading software can be downloaded to your computer, phone, Macbook… completely free of charge. With this application, you can easily trade on Exness, with more analytical tools.
Is there a fee for MT5?
MT5 is an application and platform developed by MetaQuote Ltd. You can download and use it on any platform without paying any fees.
Who is the Exness MT5 platform for?
Anyone who is trading on Exness can use MT5. Once you’ve downloaded it, get familiar with the interface and find it suits you. Then you can place orders right on the software. MT5 was born after MT4 and it comes with more advanced support tools.
Epilogue
Above, EX Trading introduced MT5 Exness. It is suitable for both computers and phones. At the same time, we also point out a few key features of MT5 on the Menu bar. Hopefully, the above information will be useful to traders who do not have much experience trading on MT5.
