What is MetaTrader 5?
MetaTrader 5 (MT5) is the most widely used multi-asset trading platform in the world. Developed by MetaQuotes Software, it supports trading in forex, stocks, futures, commodities, and cryptocurrencies. MT5 is the successor to MetaTrader 4, offering a more powerful architecture, more timeframes, more order types, and a significantly improved programming language (MQL5).
Whether you are a manual trader using charts and indicators or a developer building automated trading systems, MT5 provides the complete environment you need. Brokers worldwide offer MT5 as their primary platform, giving you access to real-time market data, order execution, and a rich ecosystem of custom tools.
While MT4 remains popular for forex, MT5 is the future. It supports more asset classes, has a faster backtesting engine, and MQL5 is a far more capable programming language than MQL4. New brokers increasingly offer MT5 only.
Key Features of MT5
- Multi-asset support — Trade forex, stocks, futures, options, and crypto from one platform
- 21 timeframes — From 1-minute to monthly charts, plus tick charts
- 38 built-in indicators — Moving averages, RSI, MACD, Bollinger Bands, and more
- 6 order types — Market, limit, stop, stop-limit, trailing stop, and fill-or-kill
- Strategy Tester — Multi-threaded backtesting engine with optimization support
- MetaEditor IDE — Built-in development environment for MQL5 programming
- MQL5 Market — Marketplace for buying and selling indicators and Expert Advisors
- Algorithmic trading — Full support for automated trading via Expert Advisors
- Economic calendar — Built-in news and event tracking
How to Download and Install MT5
MT5 is provided through brokers. Sign up with a broker that offers MT5 (most major brokers do). You can also use a demo account to practice without risking real money.
Your broker will provide a download link, or you can download MT5 directly from the MetaQuotes website. MT5 is available for Windows, macOS, Linux (via Wine), iOS, and Android.
Run the installer, then enter your broker account credentials (server, login number, and password). For demo accounts, you can create one directly from the platform.
The MT5 Interface Overview
When you first open MT5, you will see several key areas:
- Chart Window — The main area displaying price charts. You can open multiple charts in tabs or tile them.
- Market Watch — Left panel showing real-time bid/ask prices for all available instruments.
- Navigator — Left panel (below Market Watch) listing your accounts, indicators, Expert Advisors, and scripts.
- Toolbox — Bottom panel showing your open trades, account history, alerts, and the journal log.
- Toolbar — Top bar with quick-access buttons for timeframes, chart types, drawing tools, and indicators.
Demo vs Live Accounts
MT5 supports two types of accounts:
Demo accounts use virtual money and are perfect for learning the platform, testing indicators, and developing strategies without any financial risk. Always start with a demo account when learning.
Live accounts trade with real money through your broker. Only move to a live account once you are consistently profitable in demo and fully understand the risks involved.
The majority of retail traders lose money. Never trade with funds you cannot afford to lose. Use demo accounts extensively before considering live trading.
What You Can Build with MT5
MT5 is not just a trading platform — it is a development platform. Using the MQL5 programming language and the built-in MetaEditor IDE, you can create:
- Custom Indicators — Visualize market data in unique ways that built-in indicators cannot
- Expert Advisors (EAs) — Fully automated trading systems that execute trades based on your strategy
- Scripts — One-time utilities that perform a task and exit (e.g., close all positions)
- Libraries — Reusable code modules shared across multiple programs
This tutorial series will teach you all of these, starting from the basics and building up to professional-level indicator and EA development.
Next Steps
Now that you have MT5 installed and understand its purpose, the next tutorial covers how to navigate charts, switch between timeframes, and use the Market Watch window effectively. If you are already comfortable with the platform interface, you can skip ahead to the technical analysis or MQL5 programming sections.