What Is MetaTrader 5 And How MT5 Works

MetaTrader 5 is a professional trading platform developed by MetaQuotes, designed to give traders access to multiple financial markets from a single, unified environment. Whether you are new to platform-based trading or migrating from an older system, MT5 is built to accommodate a wide range of approaches with the flexibility to scale alongside your development as a trader.

In this guide, you will learn everything you need to know about MT5 trading, from its core architecture and order execution mechanics through to its advanced analytical tools and algorithmic trading capabilities. We will explain what sets MT5 apart and how it delivers a genuinely professional trading experience across asset classes.

MetaTrader 5 is a multi-asset electronic trading platform developed by MetaQuotes Software and released in 2010 as the successor to the widely adopted MetaTrader 4. The MetaTrader 5 platform was built from the ground up rather than simply updated, introducing a fundamentally more capable architecture designed to handle forex, shares, indices, futures, and commodities within a single trading environment.

Beyond its broader market access, MT5 introduced genuine institutional-grade features to retail trading, including market depth visibility, an economic calendar, a built-in strategy tester capable of multi-currency back-testing, and the MQL5 programming language for developing automated systems. These additions positioned MT5 as a future-ready platform built for traders whose ambitions extend well beyond simple order placement.

MT5 connects traders directly to global markets through a client-server architecture, where the platform communicates in real-time with your broker's server to deliver live prices, execute orders, and update account information instantly. From a single interface, traders can conduct forex trading, run automated strategies via EAs, perform fundamental analysis using the built-in economic calendar, and apply over 38 technical indicators and graphical objects across 21 timeframes. All within one cohesive trading system.

MT5 is built around a core set of features that together create a complete trading environment, covering everything from order execution and charting through to automation and multi-asset access. Here is what the platform delivers across each of its main capabilities:

MT5 supports a comprehensive range of order types, including market, limit, stop, pending, and trailing stop orders, giving traders precise control over how and when their positions are opened or closed. The platform handles CFDs across multiple asset classes within a single account, with real-time margin calculations, one-click execution, and a flexible position management system that accommodates both hedging and netting account structures seamlessly.

MT5 charts are built for serious analysis, offering 38 built-in technical indicators, 44 analytical objects, and a library of geometric shapes that traders can apply directly to price charts across any timeframe. From simple moving averages and oscillators through to advanced tools like Fibonacci retracements and Elliott Wave overlays, the platform gives traders everything needed to analyse price structure, identify key levels, and build a complete technical picture without leaving the interface.

MT5's automated trading capabilities are built around the MQL5 programming language, which allows traders to develop, test, and deploy Expert Advisors, known as EAs, that execute trades automatically based on pre-defined rules. Strategies can be back-tested against years of historical data using the platform's built-in multi-currency strategy tester, and traders who prefer not to code can browse thousands of ready-made EAs available through the MetaQuotes marketplace.

Unlike its predecessor, MT5 was designed from the outset for genuine multi-asset trading, giving traders access to forex, indices, commodities, cryptocurrencies, and bonds from a single platform and account. Each underlying asset can be analysed and traded within the same interface, eliminating the need to switch between separate platforms or maintain multiple accounts, a practical advantage that simplifies both analysis and portfolio management considerably.

MT5 includes a fully integrated economic calendar that displays scheduled data releases, central bank decisions, and key macro events in real time, directly within the platform without requiring an external browser tab. Traders can filter events by country, impact level, and time, and set the calendar to trigger alerts ahead of high-importance releases, ensuring upcoming market-moving events are never missed whilst managing open positions or scanning for new opportunities.

The market watch panel sits at the core of MT5's analysis environment, displaying live bid and ask prices across all available instruments simultaneously and updating in real time as market conditions shift. From the market watch window, traders can open charts, access the depth of market, and launch order tickets manually for any instrument, making it the central hub from which most analytical and execution workflows begin within the platform.

MT5 is available across desktop, web and mobile, ensuring traders have access to a consistent environment regardless of where they are or what device they are using. The desktop application delivers the most complete experience, whilst the web terminal requires no installation and runs directly in a browser, and the iOS and Android apps provide the full suite of trading tools including, live charts, order management, and account monitoring on the move.

1. Visit the FxPro website and navigate to the MetaTrader 5 section under Trading Platforms.
2. Select your operating system, Windows, macOS, iOS, or Android, and click the relevant download link.
3. Run the installer and follow the on-screen prompts to complete the installation.
4. Log in using your FxPro account credentials to connect the platform to your live or demo account.

Alternatively, access the web platform directly from your browser with no download required, ideal for trading CFD markets quickly from any device without installation.

Getting started with MT5 through FxPro is straightforward. Follow these seven steps to go from registration to your first live trade.

Visit FxPro, register a profile and select an MT5 account, choosing between a live or demo account depending on your experience level. As a regulated brokerage, FxPro provides full access to the MT5 environment.

Download the MT5 desktop application, access the web terminal from your browser, or install the mobile app, whichever option suits your setup. All versions connect seamlessly to FxPro's deep liquidity environment.

Enter your FxPro account credentials, server name, login number, and password into the MT5 login screen to establish a live connection between the platform and your account.

Spend time familiarising yourself with the interface before placing any trades. Explore the market watch panel, open a few charts, apply indicators, and practise switching between timeframes. Select your preferred instrument, either a currency pair, index or commodity, and study how price action develops across different sessions and conditions before committing capital.

Open an order ticket, select your instrument, and set your position size. Choose either a market order for immediate execution or a pending order to enter at a specific price level when market conditions meet your criteria.

Once in a position, set a stop loss to define your maximum acceptable loss and a take profit level to lock in gains automatically when your target is reached, then track performance in the open positions panel.

To exit, right-click your open position in the terminal and select close. Alternatively, modify your take profit level to trigger an automatic close when the price reaches your desired exit point.

MetaTrader 5 is one of the most comprehensively built trading platforms available to retail traders today, combining multi-asset access, professional charting, algorithmic trading capabilities, and a cross-platform presence that keeps you connected to the markets wherever you are. Whether you trade forex, shares, indices, or commodities, MT5 delivers the depth and flexibility that serious traders rely on across every stage of their development.

Choosing the right broker is just as important as choosing the right platform. And with FxPro, you get MT5 paired with competitive spreads, flexible leverage, and the security of a fully regulated trading environment. Open your FxPro MT5 account today and experience professional-grade trading conditions from your very first trade.

MT5 can be used by beginners, though its broad feature set means there is a learning curve. Starting with a demo account is the most practical way to build familiarity before trading live capital.

MT5 is the more advanced platform, offering more timeframes, more built-in indicators, a superior strategy tester, and genuine multi-asset access, making it the stronger choice for traders who have outgrown MT4's more limited environment.

Yes, MT5 requires a connected broker to access live market prices and execute trades; the platform itself is the interface, whilst the broker provides the account, liquidity, and execution infrastructure behind it.

MT5 is free to download and use, with trading costs determined entirely by your broker, typically in the form of spreads, commissions, or overnight swap charges, depending on the account type you hold.

MT5 is completely free to download and install, with no platform subscription or licensing fee charged to the trader. All costs associated with trading are set and applied by the connected broker.

MT5 supports CFD trading across forex, stocks, indices, commodities, cryptocurrencies, and futures, giving traders access to a genuinely broad range of global markets from a single platform and account.