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Metatrader 5, MT 5 for short has been released June 2010 and represents the actual industry standard for currency trading terminals. Metatrader 5 gives us trader the opportunity to trade not only currencies but also CFD, futures, metals and other financial instruments using one single trading terminal.
As you may know the National Futures Association changed the regulation standards for US traders.which forced Metaquotes to change the entire core of position handling. Currency traders will be able to keep only one position of any single currency pair. Hedging is eliminated too. That may sounds like disadvantages, but on the other hand, it protects traders to overtrade their accounts, which is good, specially currency traders with no or low level of trading experience.
MT 5 is Loaded with Many New Features
Metatrader 5 comes with many new advanced features which make trading even easier than with the previous version. Price Glass and specially the opportunity to see level 2 data are great improvements for currency traders who wish to analyze a maximum number of data.
Faster than Ever Before
When it comes to processing speed and order execution time, the Metatrader platform never had any competitor. Even with the outdated Metatrader 3 platform from the year 2002, trades are placed faster than on other actual platforms which are java based. Trade execution time is very essential to succeed because faster execution means: higher profits, no troubles with slippage and last but not least less re –quotes what is very important when the market is moving fast.
New Programming Language
MQL programming language has been upgraded to MQL 5 which allows the user to create more complex custom indicators, scripts and Forex expert advisors. This is an important advantage for foreign exchange traders who wants to use individual and customized indicators or scripts. However, it also has to be said that it is still not that powerful like c++ which is the programming language our automated Forex trading systems are written.
Metatrader 5 Key Features
- The large number of technical analysis instruments – 39 graphical objects, 38 technical indicators, 21 timeframes, 4 scaling modes, 17 styles of user indicators
- New Price Glass instrument in adding to famous Market Watch window
- New, advanced level of reports, allowing use to watch Profit Factor, Z-score, GHPR
- The ability to trade Futures, Stock, Forex and CFD at one time
- New, advanced MQL language, allowing traders to make their own Forex EA and indicators, and giving the new possibilities in technical analysis
Stable as Usual
While new released software is often not perfect and “bug free”, tests from our team showed that Metaquotes tested every single function careful before they released MT 5. The terminal runs the same stable like MT 4. As with the previous versions updates with new features, indicators and functions are released on a regular based.