What is MetaTrader 5? Full Breakdown of the MT5 Trading Platform

In today’s fast-moving financial landscape, success in trading depends not only on market insight, but also on the technology that supports your decisions. MetaTrader 5 (MT5) has established itself as one of the most advanced and reliable trading platforms available to both individual and institutional traders. Far more than just an upgrade to its predecessor, MetaTrader 5 (MT5) is a next-generation, multi-asset platform that brings a new level of speed, flexibility, and analytical power to the trading experience. With its professional-grade charting tools, algorithmic trading capabilities, integrated economic calendar, and seamless synchronization across desktop, web, and mobile devices, MetaTrader 5 (MT5) equips traders with everything they need to analyze markets, execute trades, and manage risk with confidence. Whether you are just beginning your trading journey or looking to optimize sophisticated strategies, understanding the full capabilities of MetaTrader 5 (MT5) can be a decisive factor in building long-term success.

Key Takeaways

1. MT5 is a robust, multi‑asset trading terminal supporting Forex, CFDs, stocks, crypto, and more.
2. Offers advanced charting, 21 timeframes, market depth, economic calendar, and strategy tester.
3. Benefits include faster execution, advanced order types, hedging/netting, and expert advisor support.
4. Available on desktop (Windows/macOS), web, Android, iOS—with seamless cross‑device syncing.
5. Remains industry standard due to ongoing updates, MQL5 ecosystem, widespread broker support.

Table of Contents

Core Features of MT5

Benefits of Trading on MT5

How to Use MetaTrader 5: Step by Step Guide

MetaTrader 5 for Advanced Traders

MetaTrader 5 on Different Devices

Why MetaTrader 5 Remains the Industry Standard

Disadvantages of MT5

Most Popular Strategies for MetaTrader 5

How to Start Trading on MT5 with NordFX

FAQ

🔗 Core

Core Features of MT5

MetaTrader 5 (MT5) is equipped with an impressive suite of features designed to support traders of all experience levels. Whether you trade manually or rely on algorithmic systems, MetaTrader 5 (MT5) offers a powerful and flexible environment that allows you to analyze markets, place orders, and manage positions with efficiency and precision.

Multi-Asset Support

One of the key strengths of MetaTrader 5 (MT5) is its ability to support trading across multiple asset classes from a single account. Traders can access a wide range of financial instruments including Forex pairs, contracts for difference (CFDs) on stock indices, commodities such as gold and oil, individual equities, and cryptocurrencies. This makes it possible to build and manage a diversified portfolio without the need to switch between different platforms or brokers.

For example, with a NordFX account, you can trade major Forex pairs alongside cryptocurrency CFDs or stock indices directly from the same MetaTrader 5 (MT5) interface. This multi-asset capability adds significant value, especially for traders seeking flexibility in volatile market conditions.

Charting and Timeframes

MetaTrader 5 (MT5) offers one of the most advanced charting environments available in retail trading platforms. It includes 21 different timeframes, ranging from one minute (M1) to one month (MN), allowing traders to perform both short-term and long-term technical analysis with accuracy.

In addition to standard timeframes, tick charts are available for high-frequency traders who require ultra-precise data on market movements. MetaTrader 5 (MT5) also supports multiple chart windows and the ability to save and load custom chart templates and profiles, so you can maintain consistent layouts for different strategies or instruments.

Technical Indicators and Drawing Tools

The platform comes with more than 80 pre-installed technical indicators that cover all major forms of analysis, including trend-following indicators, oscillators, and volume-based tools. Whether you rely on Moving Averages, Bollinger Bands, RSI, MACD, or Ichimoku Clouds, you will find everything you need already built into MetaTrader 5 (MT5).

Beyond indicators, MetaTrader 5 (MT5) includes 44 drawing tools to help traders manually annotate charts. These tools include Fibonacci retracements, Gann lines, pitchforks, shapes, arrows, and trendlines. You can easily draw support and resistance levels, highlight chart patterns, and mark breakout zones—making technical analysis both flexible and visually clear.

Depth of Market (DOM)

MetaTrader 5 (MT5) features an integrated Depth of Market (DOM) tool that displays real-time bid and ask prices for a particular instrument. DOM provides insight into order flow and liquidity levels at various price points, which is particularly valuable for scalpers and high-volume traders.

Using DOM, traders can assess the strength of support and resistance zones, monitor large institutional orders, and execute trades with greater accuracy. The DOM window in MetaTrader 5 (MT5) also enables one-click trading and order book visualizations, enhancing both speed and decision-making during volatile market sessions.

Economic Calendar Integration

MetaTrader 5 (MT5) includes a built-in economic calendar that streams upcoming macroeconomic events directly into the platform. Traders can view scheduled data releases, central bank decisions, and other market-moving announcements in real time.

The calendar is fully filterable by region, currency, and importance level, allowing you to focus only on events that impact your trading instruments. This feature is particularly useful for fundamental traders who incorporate news-based strategies or need to be aware of volatility spikes before placing trades.

The integration of the economic calendar into the MetaTrader 5 (MT5) interface ensures that traders can stay informed without needing third-party tools or external websites, allowing for more streamlined market analysis and decision-making.

Order Types & Execution Modes

Supports 6 order types:

Strategy Tester

One of the standout tools available in MetaTrader 5 (MT5) is its advanced strategy tester, designed to help traders develop, test, and optimize automated trading systems known as Expert Advisors (EAs). Unlike earlier platforms, the strategy tester in MetaTrader 5 (MT5) supports multi-threaded processing, multi-currency testing, and uses real tick data for simulations. This results in faster and more accurate backtesting that closely replicates live trading conditions.

Users can define custom testing periods, select modeling precision (such as every tick or open prices), and simulate real-world factors like slippage and execution delays. The built-in visual mode displays trade entries and exits directly on the chart, alongside detailed performance reports including drawdown, profit factor, and expected payoff.

The strategy tester also supports optimization using genetic algorithms, helping traders fine-tune parameters for best performance. Whether you’re building your own EA or testing a strategy purchased from the MQL5 Market, MetaTrader 5 (MT5) provides all the tools needed for rigorous and professional strategy validation.

MQL5 Development and Marketplace

MetaTrader 5 (MT5) is powered by MQL5, a high-performance programming language created specifically for developing trading applications. With MQL5, traders and developers can build custom Expert Advisors, indicators, scripts, and utilities tailored to their unique strategies and workflows.

For those who prefer ready-made solutions, MetaTrader 5 (MT5) features direct access to the MQL5 Market, one of the largest online marketplaces for trading tools. The Market includes thousands of Expert Advisors, technical indicators, and algorithmic solutions available for purchase or rent. Each listing comes with detailed descriptions, ratings, and demo options to help traders make informed choices.

In addition, the Signals service within MetaTrader 5 (MT5) allows users to automatically copy trades from top-performing accounts. Traders can browse signal providers based on metrics such as growth, number of subscribers, and maximum drawdown. Once subscribed, trades are mirrored directly into the user’s account in real time.

Together, the development tools and marketplace options make MetaTrader 5 (MT5) not just a platform, but a complete ecosystem for personalizing and automating your trading experience.

News and Notifications

MetaTrader 5 (MT5) helps traders stay informed and responsive by integrating real-time news updates and notifications into the platform. The built-in news section provides a steady stream of information from reputable global sources, including financial updates, central bank decisions, and economic releases that can influence the markets.

The news feed can be filtered by instrument or importance, allowing traders to focus on what’s relevant to their current positions or watchlists. This is particularly useful for those who include fundamental analysis in their trading decisions or want to avoid surprises during scheduled news events.

Beyond market updates, MetaTrader 5 (MT5) supports instant alerts and push notifications across devices. These notifications can be triggered by price movements, trade executions, margin calls, or account changes. Whether you're on desktop, web terminal, or mobile app, you’ll receive timely alerts to help you react quickly and protect your positions.

The combination of live news and customizable alerts makes MetaTrader 5 (MT5) a comprehensive platform for active traders who need to stay connected to both the market and their accounts at all times.

🔗 Benefits

Benefits of Trading on MT5

MetaTrader 5 (MT5) has become a preferred platform among traders around the world, and not without reason. Its combination of technical power, platform stability, and user-friendly design makes it ideal for everyone from beginners to advanced algorithmic traders. Below are some of the key benefits that make MetaTrader 5 (MT5) stand out from other trading platforms.

Speed and Reliability

MetaTrader 5 (MT5) is built on an optimized, multi-threaded architecture that ensures ultra-fast trade execution. It minimizes latency during volatile market conditions, helping traders avoid slippage and missed opportunities. The platform is capable of processing a high volume of trading requests simultaneously, which is particularly beneficial for high-frequency traders and those placing large orders. Its robust infrastructure also reduces the likelihood of platform freezes or disconnections, making it a reliable choice for live trading environments.

Flexible Account Management

MetaTrader 5 (MT5) supports both hedging and netting account systems, giving traders the flexibility to choose the model that best suits their trading strategy. In a hedging account, you can open multiple positions on the same symbol in opposite directions, which is especially useful for managing risk or running short-term counter-trend strategies. The netting system, on the other hand, is designed for long-term or institutional trading, where positions are automatically merged. This flexibility allows traders to build and execute complex portfolio strategies with ease.

Comprehensive Backtesting

The strategy tester in MetaTrader 5 (MT5) is one of the most advanced among retail trading platforms. It supports multi-currency and multi-threaded backtesting, allowing you to test trading robots or strategies using historical tick data across several instruments at once. Traders can simulate real trading environments with variable spreads, execution delays, and custom slippage settings. The optimization features, including genetic algorithms, help traders identify the most effective parameter sets. With accurate and fast backtesting capabilities, traders can refine their strategies with confidence before deploying them in live markets.

Automated Trading

MetaTrader 5 (MT5) offers full support for automated trading using Expert Advisors (EAs). These algorithms can monitor the markets 24 hours a day and execute trades according to predefined rules, removing emotional bias from decision-making. Traders can create their own EAs using the MQL5 programming language or choose from thousands of ready-made solutions in the built-in marketplace. MetaTrader 5 (MT5) also supports advanced error handling, event-driven functions, and optimization tools, making it suitable for even the most sophisticated automated systems.

Cross-Device Synchronization

With MetaTrader 5 (MT5), your trading activity is seamlessly synchronized across devices. Whether you are using the desktop terminal, web platform, or mobile app, your open positions, chart setups, and account data remain consistent. This level of integration allows traders to start analyzing on a desktop, continue trading via mobile, and monitor the markets through the web terminal—all without losing continuity. For active traders who need to stay connected around the clock, this cross-device functionality is an essential feature.

Variety of Instruments

MetaTrader 5 (MT5) offers access to a significantly broader range of financial instruments compared to earlier platforms. In addition to major and minor currency pairs, traders can trade contracts for difference (CFDs) on global stock indices, individual company shares, precious metals, energy commodities, and cryptocurrencies. All instruments are available from a single login, allowing traders to diversify their portfolio and take advantage of opportunities across different markets and asset classes without leaving the platform.

🔗 Step

How to Use MetaTrader 5: Step‑by‑Step Guide

Here’s a beginner-friendly walkthrough to get started.

1. Download & Installation

1. Visit NordFX’s MT5 page.
2. Choose macOS, Windows, or mobile versions.

2. Open Demo or Live Account

1. Create an account under NordFX’s MT5 Pro or MT5 Zero.
2. Enter the Trader’s Cabinet.
3. Demo accounts are easy with “Getting Started” guide.

3. Platform Setup

1. Launch MT5, log in using Broker: NordFX and input Server, Login, and Password credentials.
2. Add chart windows, chart templates, and toolbars.

4. Placing Orders

1. Right-click asset → New Order.
2. Set volume, stop‑loss/take‑profit, and type—Market, Limit, Stop.
3. Track positions in Terminal → Trade tab.

5. Charting & Analysis

1. Attach indicators via Insert → Indicators.
2. Use Drawing toolbar to mark support/resistance.
3. Compare multiple charts with different timeframes.

6. Testing Strategies

1. Open Strategy Tester (Ctrl+R).
2. Select EA, timeframe, model (Every tick, Open prices only).
3. Run test → review equity curve and detailed report.

🔗 Advanced

MetaTrader 5 for Advanced Traders

MetaTrader 5 (MT5) is not only suitable for beginners or intermediate traders but is also a powerful platform tailored to meet the sophisticated demands of experienced professionals. It offers a comprehensive suite of tools and functions that support advanced strategy development, performance optimization, and automated trading. The platform’s architecture is built to handle complex trading systems and large-scale portfolios while maintaining speed, reliability, and customizability.

Expert Advisors (EAs) and MQL5 Coding

MetaTrader 5 (MT5) supports the full functionality of MQL5, a dedicated programming language for trading automation. MQL5 allows traders and developers to create robust Expert Advisors that can analyze market conditions, manage trades, and adapt to changing volatility—all without human intervention.

Advanced traders can use the strategy tester to run backtests on historical data, optimize trading rules, and identify performance parameters. The flexibility of the MQL5 environment means you can build a trading robot from scratch or fine-tune existing systems to meet your trading goals.

For those who prefer not to develop their own tools, the built-in Market within MetaTrader 5 (MT5) offers access to a wide range of community-developed EAs. These can be purchased or rented directly from the terminal, with performance statistics and user feedback available to guide your selection.

Custom Indicators and Scripts

MetaTrader 5 (MT5) allows the creation of highly specialized indicators and scripts using MQL5. This is especially useful for traders who rely on unique technical models or want to enhance their visual analysis tools.

Examples of custom tools include:

1. Indicators for identifying institutional order blocks
2. Volatility range filters for low-volume markets
3. Composite indicators combining multiple signals into a single chart object

You can also commission freelance developers through the MetaTrader 5 (MT5) terminal to build custom tools tailored to your strategy requirements. These scripts and indicators integrate seamlessly with other features of the platform, supporting a highly personalized trading experience.

VPS Integration

MetaTrader 5 (MT5) supports Virtual Private Server (VPS) integration, which is vital for traders running automated systems or trading in fast-moving markets. A VPS allows your trading platform to remain online and active 24 hours a day, even when your personal computer is shut down or disconnected from the internet.

With VPS hosting, Expert Advisors and scripts continue to function without interruption, ensuring that signals are executed precisely and with minimal latency. This is particularly important for high-frequency strategies and news-based systems that rely on accurate timing.

MetaTrader 5 (MT5) offers integrated VPS setup options, making it easy to deploy your trading environment to a remote server with just a few clicks.

Multi-Currency Portfolio Testing

One of the most powerful features for advanced traders in MetaTrader 5 (MT5) is the ability to test strategies across multiple currency pairs simultaneously. This functionality allows traders to analyze how correlated or diversified portfolios perform under specific market conditions.

For example, a strategy that simultaneously trades EURUSD and GBPUSD can be tested as a combined system rather than evaluating each pair separately. This capability helps in measuring portfolio-level drawdowns, equity curves, and exposure metrics more accurately.

Multi-currency testing is particularly valuable for traders running basket or grid systems, as well as for those who hedge positions across correlated assets.

Copy and Signal Trading

MetaTrader 5 (MT5) includes a built-in Signals feature, which allows users to copy trades from other traders directly within the platform. This service is especially useful for advanced users who want to diversify their trading accounts by allocating a portion of their portfolio to professional signal providers.

Signal providers are ranked based on live performance, drawdown, profitability, and trading style. Traders can browse, filter, and subscribe to providers based on their specific risk tolerance and market focus. Once subscribed, trades are automatically copied in real-time with no manual intervention required.

This feature enhances MetaTrader 5 (MT5) as a hybrid platform—offering both manual and automated trading, while also supporting passive income strategies through trade replication.

🔗 Devices

MetaTrader 5 on Different Devices

Your trade setups and EAs move with you:

Desktop (Windows/macOS)

Full-featured terminal with advanced tools like DOM, multi-currency charts, and strategy tester.

WebTerminal

Browser-based MT5: no install, lightweight, synced with desktop login.

Android App

Trade on the go:

1. Portfolio, analysis, and trade functions.
2. NordFX Android-specific features: fullscreen charts, news, push notifications.

iOS App

The iPhone/iPad version includes:

1. Resizable chart windows.
2. Quick Edit, chat, mailbox, and market depth support.

🔗 Standard

Why MetaTrader 5 Remains the Industry Standard

Continued Development & Support

MetaQuotes regularly updates MT5, deprecating older builds—NordFX reminds users to update before 1 June 2025.

Widespread Broker Adoption

MT5 is universally supported—from retail brokers to institutional venues.

Thriving MQL5 Community

The in-built community supports thousands of indicators, EAs, and script libraries.

Cross-Asset Capability

Unlike single-market platforms, MT5 supports Forex, crypto, equities, and futures in one solution.

Transparency & Security

Unmatched reliability, encrypted protocols, and multi-byte authentication ensure safe trading.

🔗 Disadvantages

Disadvantages of MT5

While MetaTrader 5 (MT5) offers a wide range of powerful features and advantages, it is not without limitations. As with any trading platform, it is important for traders to be aware of potential drawbacks so they can plan accordingly and use the platform to its fullest potential while mitigating possible risks.

Steeper Learning Curve

MetaTrader 5 (MT5) is an advanced platform, and with that comes a level of complexity that can be intimidating for beginners. Unlike simpler trading platforms that offer a basic interface, MetaTrader 5 (MT5) includes a wide array of tools such as custom order types, multi-timeframe charting, and a full programming environment in MQL5.

Traders who want to use automated strategies, backtesting, or custom indicators need to invest time in learning how the platform functions. Although there are many resources and tutorials available, the initial learning curve can be steep for those unfamiliar with trading platforms or programming.

Resource-Heavy Performance

MetaTrader 5 (MT5) is built for speed and performance, which also means it places higher demands on hardware compared to earlier platforms like MetaTrader 4. The platform uses multi-threaded processing, high-resolution chart rendering, and real tick data, which can consume significant CPU and memory resources, especially when running multiple charts, indicators, or Expert Advisors simultaneously.

Traders using older computers or limited systems may experience slower performance or reduced stability when using MetaTrader 5 (MT5). For optimal use, a modern computer with adequate RAM and processing power is recommended.

Incompatibility with MT4 Expert Advisors

One of the most notable limitations of MetaTrader 5 (MT5) is its lack of backward compatibility with MetaTrader 4 (MT4) Expert Advisors, scripts, and indicators. While MT4 uses the MQL4 programming language, MT5 uses MQL5, which is more powerful but structurally different.

This means that EAs or custom tools developed for MT4 cannot be used directly in MetaTrader 5 (MT5) without rewriting or converting the code. For traders who have invested significant time and money in MT4 tools, this can create additional cost and effort in order to migrate fully to MT5.

App Store Availability Varies

Although MetaTrader 5 (MT5) offers excellent mobile versions for both Android and iOS, access to these apps may be restricted or limited in certain countries due to regional app store policies. In some cases, traders may need to sideload the application manually, which can present a barrier for users who are not familiar with alternative installation methods.

For example, traders using certain Android devices or accessing the Play Store from specific locations may find that the MT5 app is not directly available. In such cases, brokers like NordFX provide direct APK download links or setup guidance, but this still adds an extra layer of complexity to the onboarding process for mobile users.

Over-Reliance on Automation

While automation is one of the strengths of MetaTrader 5 (MT5), it can also become a weakness if not used carefully. Many traders are drawn to the promise of hands-free trading through Expert Advisors, but there is a risk in relying entirely on algorithms without active monitoring.

Even the most well-designed automated system can fail under unusual market conditions, such as high-impact news events, flash crashes, or abnormal volatility. Additionally, poorly coded EAs may lead to excessive drawdowns or unexpected trade behavior. It is important for traders to actively supervise their systems, run regular updates, and use risk management techniques to avoid over-exposure.

Automation should be treated as a tool to enhance a strategy—not as a replacement for informed decision-making. MetaTrader 5 (MT5) provides all the capabilities for automation, but it is up to the trader to use them responsibly.

🔗 Strategies

Most Popular Strategies for MetaTrader 5

Here are the major strategies traders implement using MT5:

Trend-Following Strategies

1. Use indicators like moving averages, MACD, ADX.
2. Capture major price directions—longer timeframes.
3. MQL5 marketplace offers trend-following EAs.

Scalping

1. Quick trades on 1–5 minute charts.
2. Utilizes 0–1 pip spreads, tick charts, fast execution.
3. MT5 API supports high-frequency order flows.

Breakout Trading

1. Identify support/resistance zones.
2. Entry on strong momentum breakout.
3. Use DOM to confirm liquidity push.
4. Often paired with volume or volatility-based filters.

Range (Swing) Trading

1. Trade bounces between support/resistance in choppy markets.
2. Use RSI, Bollinger Bands, Stochastic to spot reversals.
3. Popular among part-time traders.

News/Event Driven Trading

1. Use the built-in economic calendar to target high-impact events.
2. Employ pending orders (stops/limits) to catch reactions.

Algorithmic/Quant Strategies

1. Develop fully automated EAs (e.g. momentum, mean-reversion).
2. Backtest with tick data, optimize using MT5’s genetic algorithms.
3. Example: create a Python-boosted EA via MT5 API.

Below is a summary table:

🔗 Start

How to Start Trading on MT5 with NordFX

Follow these steps to begin:

Choose the Right NordFX Account

1. MT5 Pro: From USD 50, no commission, spreads from 1 pip.
2. MT5 Zero (ECN): From USD 200, 0 pip spread, commission 0.0035%/side.

Open an Account

1. Go to NordFX main page.
2. Choose MT5 account type.

Download and Connect

1. Download MT5 terminal from NordFX.
2. Install Web or mobile apps if needed.

Practice First

1. Use demo account (unlimited) for strategy backtesting.
2. Learn how with NordFX’s backtesting guide.

Trade Live

1. Start small: set lot size and risk tolerance (e.g., 1–2% per trade).
2. Monitor via desktop, web, or mobile.
3. Use built-in tools (calendar, indicators, EAs, VPS).

Scale with Automation

1. Rent or purchase EAs from MQL5 Market.
2. Consider subscribing to NordFX copy-trading service.

🔗 FAQ

Frequently Asked Questions (FAQ)

Q: Can I migrate my MT4 strategies to MT5?

A: MQL4 EAs won't run on MT5. They need rewriting or migration using MetaQuotes tools.

Q: Does NordFX offer MT5 on mobile?

A: Yes—Android (via Play Store or sideloading) and iOS apps. Details at NordFX Android setup page.

Q: What are typical spreads on NordFX MT5?

A: Pro accounts start around 1.0 pip; Zero ECN accounts offer 0 pips + 0.0035% commission per side.

Q: Can I backtest multiple currencies simultaneously?

A: Yes—MT5 supports multi-currency backtesting using Strategy Tester.

Q: Is there a social/copy trading option?

A: Yes—MT5 Signals and NordFX Copy Trading.

Q: What are early drawbacks of EAs?

A: EAs can’t adapt to news or black swan events. Always supervise automated systems.

Q: Can I trade crypto on MT5?

A: Yes—NordFX supports crypto CFDs 24/7.

Q: How do I test algorithmic strategies faster?

A: Use Genetic Algorithm optimization in MT5’s Strategy Tester and tick-based data.

Q: Is there built-in news and economic calendar?

A: Yes—MT5 includes both, filterable by importance and currency.