Have you gone tired or used to earlier versions of online trading platforms? If you answered yes, then it is about time for you to level up and start another trading journey via MT5. What is this software and how is it different from the rest of the series of Metatrader platforms that were previously launched? Well, the fact that this platform is obviously a newer level than MT4, Metatrader 5 still possesses some of the useful tools of MT4 but with improvement and some changes. In my readings, Metatrader 5 is originally devised to substitute MT4 but because of the widespread usage of the earlier version, Metatrader company found it hard to get through the MT4 market so they finally decided to create another platform next to MT4. With this set up, experts suggest that traders who have mastered the use of MT4 platform can move to Metatrader 5 for easy and faster mastery. Both platforms have web based as well as Android versions. According to those who have used MT4, the interface for these platforms are easy to understand and is advisable for beginners. But if you are totally new to the field of trading and you wish to know more about the newer version, we bring you 5 facts that are useful for understanding its interface.
5 Facts about Metatrader 5 Interface
1.The Interface has one stop tools that are essential for trading
Similar to the rest of the Metatrader platforms, MT5 interface is designed to provide a lot of essential trading tools that can help a trader create his trading plan and then perform in the market.
- The Metatrader 5 Interface is customizable
This means that you can either hide or unhide some tools depending upon your preferences and trading style.
- The Interface has MQL5 Community
This is a community of traders and developers where one can exchange ideas, post blogs and make some research regarding programming and usage of Metatrader platforms.
- You can search answers to questions via MLQ5
Just like your usual search engines, Metatrader users can encode questions and search answers via MLQ5 search engine. The answers to your queries are posted in a separate search tab of the Toolbox window. The system selects the most relevant results and conveniently arrange them based on categories.
- Financial Charts have radial menu in Metatrader 5 Android Version
The radial menu can be accessed by tapping the chart. This menu is used for changing timeframes, adding indicators and objects on the chart and enabling cross hairs.
Upon learning the main features of the Metatrader 5 interface, we can derive that this platform can be of great help to more advanced or experienced e-traders. While we have mentioned that newbies can use such platforms, we suggest that newbies need to be techie in terms of manipulating both the computer and the program. Since MT4 is its earlier version, newbies should start trading with MT4 first and then move into the next platform after gaining experience towards using tools that are found in the Metatrader interface.