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MetaTrader 5 description
MetaTrader 5 is a widely used electronic trading platform designed for brokers and institutional clients. It allows businesses to offer trading services across multiple asset classes, including forex and futures, with advanced features like market depth and various order types. The platform provides tools for technical and fundamental analysis, automated trading, risk management, and back-end administration. MetaTrader 5 offers flexible licensing options, robust security features, and integration possibilities through its API.
Who is MetaTrader 5 best for
MetaTrader 5 is a robust trading platform popular for its charting tools, automated trading, and mobile app. However, users have raised concerns about scams, withdrawal difficulties, and slippage. Ideal for small to medium-sized financial businesses seeking advanced trading features but prepared to navigate potential platform risks.
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Best fit for small to medium-sized businesses.
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Suitable for businesses in the financial sector.
MetaTrader 5 features
Supported MetaTrader 5 offers a wide variety of built-in and custom technical indicators. |
Supported MetaTrader 5 supports copy trading through its integrated Signals service. |
Supported MetaTrader 5 connects with various brokers for direct trade execution. |
Supported MetaTrader 5 offers charting tools for analyzing market trends, including customization and various analytical objects. |
Supported MetaTrader 5 offers built-in tools like stop-loss orders and supports third-party risk management add-ons. |
Supported MetaTrader 5 supports multiple order types, including market, pending, stop, and trailing stop orders. |
MetaTrader 5 reviews
We've summarised 40 MetaTrader 5 reviews (MetaTrader 5 TrustPilot reviews and MetaTrader 5 G2 reviews) and summarised the main points below.
- Smooth and functional mobile app experience.
- Availability of market depth and diverse order types for advanced trading.
- Comprehensive charting and technical analysis tools, including customizable indicators.
- Automated trading capabilities through Expert Advisors (EAs) and custom scripts.
- Extensive historical tick data for backtesting and strategy development.
- Frequent reports of scams and fraudulent activities associated with brokers on the platform.
- Difficulty withdrawing funds, with some users reporting brokers withholding deposits.
- Slippage on price executions, leading to discrepancies between chart prices and actual trade prices.
- Outdated and clunky interface, particularly on desktop, with users desiring modernization.
- Lack of essential trading features like visualizing potential losses based on lot size and stop loss.
MetaTrader 5 pricing
The commentary is based on 1 reviews from MetaTrader 5 G2 reviews.
MetaTrader 5 offers three licensing options: Entry (1,000 real accounts), Standard (25,000 real accounts), and Enterprise (200,000 real accounts). Each license includes client desktop terminals, web terminals, client mobile terminals, manager terminals, and administrator terminals. Trade servers, history servers, access servers, and backup servers are included. Gateways are available as add-ons.
See the MetaTrader 5 pricing page.
MetaTrader 5 alternatives
MetaTrader 5 FAQ
MetaTrader 5 is an electronic trading platform for brokers and institutional clients. It offers multi-asset trading, advanced charting, technical analysis, automated trading, and robust security features. It facilitates trading forex, futures, and other instruments, providing tools for analysis and risk management.
What is MetaTrader 5 and what does MetaTrader 5 do?
MetaTrader 5 is an electronic trading platform for brokers and institutional clients. It offers multi-asset trading, advanced charting, technical analysis, automated trading, and robust security features. It facilitates trading forex, futures, and other instruments, providing tools for analysis and risk management.
MetaTrader 5 integrates with other tools through its API. This allows for connection with various brokers, enabling direct trade execution and integration of third-party risk management add-ons. It also supports automated trading through custom scripts and Expert Advisors (EAs).
How does MetaTrader 5 integrate with other tools?
MetaTrader 5 integrates with other tools through its API. This allows for connection with various brokers, enabling direct trade execution and integration of third-party risk management add-ons. It also supports automated trading through custom scripts and Expert Advisors (EAs).
Top alternatives to MetaTrader 5 include TradingView for charting and social trading, ActTrader specializing in forex, and DotBig offering access to diverse instruments like stocks and crypto. Consider Kite for transparent pricing and Tradeweb for institutional-grade trading.
What the main competitors of MetaTrader 5?
Top alternatives to MetaTrader 5 include TradingView for charting and social trading, ActTrader specializing in forex, and DotBig offering access to diverse instruments like stocks and crypto. Consider Kite for transparent pricing and Tradeweb for institutional-grade trading.
MetaTrader 5 is a legitimate trading platform used by many brokers. However, users have reported scams and difficulties withdrawing funds with some brokers on the platform. Be sure to choose a reputable broker.
Is MetaTrader 5 legit?
MetaTrader 5 is a legitimate trading platform used by many brokers. However, users have reported scams and difficulties withdrawing funds with some brokers on the platform. Be sure to choose a reputable broker.
MetaTrader 5 is generally offered by brokers and its pricing isn't fixed. Some brokers offer it free of charge, while others may have fees depending on account type or trading volume. Contact your preferred broker for specific product pricing details.
How much does MetaTrader 5 cost?
MetaTrader 5 is generally offered by brokers and its pricing isn't fixed. Some brokers offer it free of charge, while others may have fees depending on account type or trading volume. Contact your preferred broker for specific product pricing details.
MetaTrader 5's customer service receives negative feedback. Users report difficulty contacting support, unresolved issues, and lack of responsiveness regarding account and financial discrepancies. Some even describe their experience as a "rip-off."
Is MetaTrader 5 customer service good?
MetaTrader 5's customer service receives negative feedback. Users report difficulty contacting support, unresolved issues, and lack of responsiveness regarding account and financial discrepancies. Some even describe their experience as a "rip-off."
Reviewed by
Michal has worked at startups for many years and writes about topics relating to software selection and IT management. As a former consultant for Bain, a business advisory company, he also knows how to understand needs of any business and find solutions to its problems.
Tymon is a seasoned CTO who loves finding the perfect tools for any task. He recently headed up the tech department at Batmaid, a well-known Swiss company, where he managed about 60 software purchases, including CX, HR, Payroll, Marketing automation and various developer tools.
An AI tool that observes your work, finds inefficiencies, and suggests smarter ways to do things. Maybe you can use your tools better, automate tasks, or switch software.