This article offers a complete walkthrough of the MT5 platform, including what it is, how to use it, what types of financial markets you can access, how to download the software and set up your account, and how to install customisable indicators and add-ons.
What is MT5, and how do you trade on it?
MetaTrader 5 (MT5) is a powerful multi-asset online trading platform originally released in 2010, which offers advanced tools to automate your trading. While it builds on the legacy of MT4, it also supports a broader range of markets, including stocks and futures, either at home or on the go through a mobile app.
You can customise your setup to suit your trading preferences. For example, you can automate your trading with Expert Advisor programs, algorithms that open and close trades on your behalf, according to set parameters. Users also have access to a wide range of technical analysis tools and chart types, and you can customise your trading thanks to a range of add-ons and indicators across multiple asset classes.
Why is the platform so popular with traders?
The platform is popular as it allows traders to analyse a number of key financial markets covering forex, indices, commodities, shares, and futures, with a huge range of technical indicators, charts, and graphs. These indicators are particularly useful for traders who tend to focus more on technical analysis, rather than fundamental aspects.
MT5 introduced additional functionality compared with earlier versions when the platform was unveiled in 2010. The platform introduced a broader range of functionality at the time, offering an expanded range of key features to support users' trading and market analysis.
Key features include:
Multi-chart layouts.
Integrated and easy-to-use charts.
Navigator, market watch, and indicators' windows.
Over 80 pre-installed indicators.
The ability for automated trading across multiple asset classes.
Since launching, the platform has continued to release new features regularly, including a news area, signals section, one-click trading, an economic calendar, and additional trading instruments.
Getting ready for MT5
To trade on MT5 with CMC Markets, you’ll need a live CMC Markets MT4 account and MT5 access set up through an additional MT5 account.
If you don’t already have a live CMC Markets MT4 account, apply for either an FX Active or Standard MT4 account and complete the application and verification process.
Already have a live CMC Markets MT4 account? Reach out to our Client Services team at support@cmcmarkets.co.nz to request MT5 access. Our Client Services team will then advise you on the next steps.
Once your additional MT5 account is set up, we’ll email you your MT5 login details, including the server name and instructions to log in.
You’ll use separate login details for your CMC Markets account, also known as the Client Admin Portal, and the MT5 platform. Your CMC Markets account details are used to manage your account, funding and settings, while your MT5 login details are used to access MT5 for trading and position management.
How to create your MT5 password
Access the Client Admin Portal using the email address and password you used for your initial application.
Select your MT5 account under account selection
Go to "Settings" and click on "Change Password."
Create a new password that is between 8-16 alphanumeric characters (letters and numbers, no symbols).
After successfully creating your password, you can download the MT5 trading platform via the "Download MT5" button at the top of the Client Admin Portal.