MetaTrader 5 (MT5) is one of the world’s most powerful and versatile trading platforms, designed for traders who want access to multiple global markets through a single interface.
With advanced charting tools, including advanced charts that enhance customisation options and provide more sophisticated analysis, automated trading support, and a highly customisable layout, MT5 delivers everything modern traders need to analyse markets and execute trades with precision.
The advantage of using MT5 lies in its speed, flexibility, and ability to improve trading performance by taking advantage of multiple trading tools and features.
Whether you’re a beginner learning the basics or an experienced trader refining your strategy, this guide explains everything you need to know about MetaTrader 5, including its key features, how to set it up, and why it has become a leading choice among South African traders.
MT5 is built as a 64-bit, multi threaded platform, offering enhanced speed, responsiveness, and performance for complex or high-volume trading activities.
What is MetaTrader 5?
MetaTrader 5 is a next-generation, multi-asset trading platform developed by MetaQuotes Software, launched in 2010 as the successor to MetaTrader 4 (MT4).
While MT4 was primarily focused on forex trading, MT5 expands your reach to a wide range of instruments that includes: forex pairs, shares, stocks, indices, commodities, metals, and cryptocurrencies.
The platform offers an extensive array of tools, indicators, and assets, giving traders access to diverse features and options within MetaTrader 5.
Built as a 64-bit, multi-threaded application, MT5 offers faster processing speeds, improved stability, and greater analytical power than its predecessor.
It is available across desktop (Windows and Mac), mobile (Android and iOS), and web browsers, making it easy to trade and manage your account anytime, anywhere.
For South African traders, MT5 provides seamless access to international markets, advanced order execution, and flexible trading tools. All while supporting ZAR-based accounts with most local brokers.
Key Features and Benefits of MT5
1. Trade Across Multiple Markets
Access over 500 global instruments from one platform, including forex pairs, CFDs on shares, indices, commodities, metals, and crypto assets, with MT5 designed to meet the needs of clients seeking diverse trading opportunities.
This range allows you to diversify your trading portfolio and manage risk efficiently.
2. Advanced Charting and Analysis
MT5 comes equipped with 38 built-in technical indicators, 44 analytical objects, and 21 timeframes, from one-minute to monthly charts.
Traders can open multiple charts simultaneously and customise their layouts using candlestick, line, or bar chart types.
3. Custom Indicators and Expert Advisors (EAs)
MT5 supports automated trading through Expert Advisors (EAs) written in MQL5, a powerful programming language designed for trading applications.
Expert Advisors allow users to build and optimise automated trading strategies for the platform.
You can build, test, and deploy your own EAs or choose from thousands available in the MetaTrader Market to execute trades automatically.
4. Integrated Economic Calendar and News Feed
Stay informed with MT5’s built-in economic calendar and real-time news updates from leading providers such as Reuters.
These tools help traders anticipate market movements and make better-informed decisions.
5. Multiple Order Types and Execution Modes
MT5 supports two market orders, six pending orders, and two stop orders, plus four execution modes: instant, request, market, and exchange.
This flexibility gives you complete control over how and when your trades are executed.
Additionally, the spread, whether fixed or variable, can change depending on market conditions and directly impact your trading costs.
6. Depth of Market (DOM)
The Depth of Market feature displays liquidity and buy/sell orders at various price levels, helping traders evaluate demand and optimise entry or exit points.
It is particularly useful for high-volume or institutional-style trading.
7. Multi-Device Synchronisation
Trade seamlessly across desktop, web, and mobile.
The MT5 mobile app (available on Android and iPhone) allows you to monitor markets, execute orders, and manage positions from anywhere.
8. User-Friendly and Customisable Interface
MT5’s clean, intuitive interface can be fully customised to suit your trading style.
You can rearrange charts, adjust colours, save layouts, and personalise your trading environment for maximum efficiency.
Getting Started with MetaTrader 5
Step 1: Download and Install MT5
Download MT5 for desktop from the official MetaTrader website or your broker’s platform page.
The mobile app is available on the App Store and Google Play, while the WebTrader version lets you trade directly in your browser without installation.
Step 2: Open a Trading Account
Create a demo or live account with a broker that supports MT5. A demo account lets you practise with virtual funds, perfect for learning platform functions before moving to real markets.
When you register, you will receive a username and password via email.
Make sure to keep your password secure to protect your trading account.
Step 3: Log In to Your Account
Once registered, your broker will send you login credentials.
Open MT5, go to File → Login to Trade Account, and enter your account details and server information.
Step 4: Customise Your Workspace
Set up your charts, load indicators, and configure Expert Advisors or alerts.
Save your layout so MT5 loads your preferred setup each time you log in.
Automated Trading with MT5
One of MT5’s most powerful features is automated trading.
Using Expert Advisors, you can programme rules for trade entry, management, and exit, allowing the system to trade on your behalf 24/7.
Many brokers also offer VPS hosting for Expert Advisors, ensuring your automated strategies run continuously even if your computer is off.
This is ideal for South African traders running long-term or high-frequency trading bots that require uninterrupted operation.
When using automated trading tools, it is important to set money management limits, such as stop-loss or take-profit levels, to control potential losses.
Additionally, be aware of the risks associated with leverage when trading CFDs using automated strategies, as leverage can amplify both gains and losses.
MT5 vs. MT4: Key Differences
| Feature | MT4 | MT5 |
|---|---|---|
| Asset Classes | Forex and CFDs | Forex, CFDs, shares, futures, commodities, crypto |
| Programming Language | MQL4 | MQL5 (more powerful and flexible) |
| Order Types | 4 | 8 |
| Timeframes | 9 | 21 |
| Market Depth (DOM) | No | Yes |
| Platform Architecture | 32-bit | 64-bit, multi-threaded |
| Economic Calendar | No | Yes |
| Hedging Support | Yes | Depends on broker |
In summary:
MT4 remains a reliable choice for forex-only traders who prefer simplicity, while MT5 offers access to more markets, improved performance, and enhanced analytical tools.
It is ideal for experienced or multi-asset traders.
Tips to Get the Most Out of MetaTrader 5
- Use Custom Indicators: Enhance your analysis by adding free or paid indicators from the MetaTrader Market.
- Automate Your Trading: Create or test Expert Advisors to reduce emotional decision-making.
- Monitor Market Depth: Use the DOM to view real-time liquidity and fine-tune order placement.
- Follow Economic News: Stay ahead of market moves with the integrated calendar and news feed.
- Manage Risk Wisely: Always set stop-loss and take-profit levels or define risk parameters within your EAs.
- Practise First: Use a demo account to master MT5’s tools before switching to live trading.
Upgrade Your Trading Experience with MetaTrader 5
MetaTrader 5 stands out as a complete multi-asset trading solution built for flexibility, speed, and depth.
With its advanced charting tools, automated trading options, and robust order management system, MT5 provides South African traders with everything required to compete in global markets confidently.
Whether you’re upgrading from MT4 or starting your trading journey, MT5’s versatility and performance make it one of the best platforms available today.
👉 Ready to explore MetaTrader 5?
Download the platform, open your trading account, and start trading global markets with professional-grade tools and analysis.