MT5 Complete Guide: Master 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

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.

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

Practice on Demo

Master the platform risk-free with virtual funds.

Learn about demo accounts →

Learn Risk Management

Protect your capital with proper position sizing.

Read risk guide →

Use Calculators

Calculate position sizes, pip values, and margins.

Access tools →

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 →