In the FX trading world, the platform you operate on determines a lot. There is one in particular that has gained huge popularity since its release in 2010. MetaTrader 5 also known as MT5 was launched by MetaQuotes (the same company that introduced MetaTrader 4), which is a trading platform that manages different assets and operates in markets such as Forex, stocks CFDs, etc.
What makes MT5 so special?
Since its introduction, MetaTrader 5 has revolutionized the approach to trading. The platform underwent crucial changes regarding technical analysis, order execution, and the ability to add Expert Advisors to the platform. The developers also used a new programming language, MQL5 to create MetaTrader 5.
Compared to the older version, MetaTrader 5 provides much deeper market analysis and an in-depth look into traders' closest bids, also tracks the price movements and introduces order tracking software to the system. Moreover, MT5 has a netting mechanism that combines the numerous assets and shows it as one that keeps the monitoring process neat.
The platform goes out of its way to ensure a comfortable environment for the traders. MT5 works perfectly with different sorts of Expert Advisors that provide a fully-automated trading experience to the clients. Visit https://elitecurrensea.com/education/best-mt5-ea/ to learn more about different types of automated trading robots that work the best with MetaTrader 5. The platform has also seen an improved data processing speed which was significantly faster than previous versions.
One of the newest features that have been added to MetaTrader 5 is the ability of BackTesting with MLQ5, it allows a realistic span of trading journey and history compared to MT4, which required virtual private servers (VPS) to run backtests.
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