MT5 Complete Guide: Master MetaTrader 5
Your comprehensive guide to trading forex and CFDs with MetaTrader 5
What is MetaTrader 5?
MetaTrader 5 (MT5) is the most advanced multi-asset trading platform, supporting forex, CFDs, stocks, indices, commodities, futures, and cryptocurrencies. Whether you're a beginner or an experienced trader, MT5 provides all the tools you need for successful trading.
Why Choose MT5?
- • Trade multiple asset classes from one platform
- • Access to 21 timeframes and 80+ technical indicators
- • Advanced order types for precise risk management
- • Automated trading with Expert Advisors (EAs)
- • Real-time market depth and economic calendar
- • Available on desktop, web, and mobile devices
Perfect for Beginners: Practice Risk-Free
Try all MT5 features free
Getting Started with MT5
Step 1: Installation
- 1. Download MT5 from your broker or MetaQuotes website
- 2. Run the installer and follow the setup wizard
- 3. Choose installation directory (default recommended)
- 4. Launch MT5 after installation completes
Pro Tip: Always download MT5 from your broker's website to ensure you're connecting to the right servers.
Step 2: Account Setup
Demo Account (Recommended for Beginners)
- 1. Click File → Open an Account
- 2. Search for your broker's server
- 3. Select "Open a demo account"
- 4. Fill in your details and choose account settings
- 5. Note down your login credentials
Live Account
- 1. Complete account verification with your broker
- 2. Receive login credentials via email
- 3. Click File → Login to Trade Account
- 4. Enter login, password, and select server
Navigating the MT5 Interface
Market Watch
View real-time prices and spreads for all available instruments.
- • Right-click to add/remove symbols
- • Double-click to open order window
- • Drag to charts for quick analysis
Navigator
Access your accounts, indicators, EAs, and scripts.
- • Expand folders to see contents
- • Drag indicators to charts
- • Double-click EAs to attach
Terminal
Monitor your trading activity and account status.
- • Trade tab: Open positions
- • History tab: Closed trades
- • News tab: Market updates
Chart Window
Analyze price movements and apply technical analysis.
- • Right-click for chart properties
- • Use toolbar for drawing tools
- • Scroll or scale for zoom control
How to Place Your First Trade
Opening a Position
- 1. Select Your Instrument
Find your desired pair in Market Watch (e.g., EURUSD)
- 2. Open Order Window
Double-click the instrument or press F9
- 3. Configure Your Trade
• Volume: Enter lot size (0.01 = micro lot)
• Stop Loss: Set maximum acceptable loss
• Take Profit: Set target profit level
• Comment: Add notes (optional)
- 4. Execute Trade
Click "Buy" for long or "Sell" for short positions
Market Orders
Execute immediately at current market price. Best for liquid markets with tight spreads.
Pending Orders
Execute when price reaches specified level. Ideal for breakout or retracement strategies.
MT5 Order Types Explained
Basic Order Types
Buy Stop
Buy when price rises above specified level
Sell Stop
Sell when price falls below specified level
Buy Limit
Buy when price falls to specified level
Sell Limit
Sell when price rises to specified level
Advanced Order Types (MT5 Exclusive)
Buy Stop Limit
Places a Buy Limit order when price reaches the stop level. Perfect for volatile breakouts.
Sell Stop Limit
Places a Sell Limit order when price reaches the stop level. Ensures better entry on breakdowns.
Ready to Start Trading with MT5?
Apply what you've learned with a live account. Start with just $50 minimum deposit.
Essential Risk Management Features
Stop Loss
Automatically close losing trades at predetermined levels.
Best Practice: Risk only 1-2% per trade
Take Profit
Lock in profits by closing trades at target levels.
Tip: Use 1:2 risk-reward minimum
Trailing Stop
Dynamic stop loss that follows profitable trades.
Advanced: Protects profits in trends
⚠️ Risk Management Rules
- • Never trade without a stop loss
- • Calculate position size before entering trades
- • Don't risk more than 5% of account on all open trades
- • Use our Position Size Calculator
Technical Analysis Tools
Chart Types & Timeframes
Chart Types
- • Line Chart: Simple closing prices
- • Bar Chart: OHLC information
- • Candlestick: Visual price patterns
21 Timeframes
- • Minutes: M1, M2, M3, M4, M5, M6, M10, M12, M15, M20, M30
- • Hours: H1, H2, H3, H4, H6, H8, H12
- • Days/Weeks/Months: D1, W1, MN1
Popular Indicators
Trend Indicators
- • Moving Averages
- • Bollinger Bands
- • Ichimoku
Oscillators
- • RSI
- • MACD
- • Stochastic
Volume
- • Volume
- • OBV
- • Money Flow
Trading on MT5 Mobile
Mobile Features
- ✓ Full trading functionality
- ✓ Real-time quotes and charts
- ✓ All order types supported
- ✓ 30 indicators and 24 graphical objects
- ✓ Push notifications for price alerts
- ✓ Secure biometric authentication
Mobile Trading Tips
- • Set up price alerts for key levels
- • Use one-click trading for speed
- • Monitor positions with widgets
- • Sync with desktop for consistency
- • Enable notifications for orders
- • Practice on demo first
Troubleshooting Common Issues
Connection Issues
If you see "No connection" in the bottom right:
- • Check internet connection
- • Verify login credentials
- • Try different server from list
- • Disable firewall/antivirus temporarily
Chart Not Updating
If prices appear frozen:
- • Right-click chart → Refresh
- • Check if market is open
- • Verify symbol is active
- • Restart MT5 platform
Order Rejection
Common reasons for failed orders:
- • Insufficient margin/balance
- • Market closed for instrument
- • Invalid stop loss/take profit levels
- • Lot size outside allowed range
Next Steps & Resources
Ready to Upgrade from MT4?
If you're currently using MT4, check out our comprehensive migration guide to smoothly transition to MT5's advanced features.
Read MT4 to MT5 Migration Guide →Test Strategies Risk-Free
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