MetaTrader5 is one of the best trading platforms. It comes with features that traders can use to analyze markets, automate services, and perfect their trading strategies. Many traders prefer using it because it is easy to use, has a clean interface, and boasts a diverse global developer community.
If you are interested in learning how to install and use MT5, you are in the right place. In this guide, we take you through all the steps to install and set up the MetaTrader download on your PC or smartphone.
What You Need Before Installing MT5
Before you install MetaTrader5, you must find a broker that supports MT5. The broker will provide you with the credentials required to open your trading account. These login details are essential because you cannot trade without logging in to your account.
As usual, do the basics and research about available brokers in your country. Ensure the broker is regulated by a reputable financial body within your country. However, if you prefer an international broker, check whether they are accredited by a regulator such as the FCA in the UK or CySEC.
How to Download MetaTrader 5 on Desktop
Now that you have found a broker, the next step is to download MetaTrader 5. There are multiple places where you can download MT5. The first place you should check is your broker’s website. You can also find the official download link on the Weltrade website.
Be careful when downloading the MT5 setup from third-party websites. We do not recommend it because you may download a copy of the MT5 application that is sideloaded with malware.
After the download is complete, locate the application file on your PC and double-click to install. The installation often completes within minutes.
How to Download MetaTrader 5 on Mobile
Mobile trading is becoming popular. The other benefit of installing MetaTrader5 on your phone is that you can still trade and monitor your account even when you aren't close to your PC. The process of downloading MT5 on your phone is easy.
Head over to the Play Store if you are using Android or the App Store if you have an iPhone. Search for MetaTrader 5 and click "install" or "get." Once the installation is done, the MT5 mobile app will appear on your home screen.
How to Log in to Your MT5 Account
Upon launching the application for the first time, you must complete the MetaTrader 5 login process to access the live or demo account.
MT5 PC
If you are using the desktop or PC version, click "file" and select "log in to trade account." Enter the login details provided by your broker and select the correct server from the "server" dropdown menu to access your account.
If you are successful, you should see a green connection status in the bottom-right corner.
MT5 on Mobile
However, if you are using a smartphone, tap "settings" then "new account." Look for your broker's server name in the search bar. Next, enter your login details—account number and password—and hit "log in."
If everything goes according to plan, your account will connect immediately and live price updates will appear.
Customizing MetaTrader5
This is the first thing most traders do to ensure a comfortable trading environment. This will also allow you to access various tools quickly.
Customize Your Charts
Meta Trader MT5 has various charts used for market analysis. As a new user, select a chart that fits your needs and allows you to analyze price movements in a blink. Many traders prefer candlestick charts because they display price action in an easily readable format.
You can also tweak the time frame settings to analyze price movements over different periods. MetaTrader MT5 allows users to track the market over one-minute to monthly intervals. This is crucial when performing short-term and long-term analysis.
Add Indicators
Indicators are technical analysis tools used for identifying trends, exit and entry positions, and tracking the momentum of various symbols. MetaTrader5 has various built-in tools, such as moving averages, relative strength index (RSI), and market facilitation index (MFI). You can also install custom tools to perform specific tasks.
Build a Customized Market Watch List
The market watch list is like your dashboard, where you can see available instruments, prices, and spread information. The default window on MT5 may have many symbols you don’t plan to trade.
You can customize your market watch list window to show the instruments you are interested in. Having a customized window makes it easier to track the markets that matter to you and makes order placement easier during active trading periods.
Set up Alerts and Notifications
Alerts will notify you whenever something happens in the market. You can create alerts for price movements, indicator events, or time-based notifications. You can also enable push notifications if you have MT5 on your phone.
This feature will ensure you don't miss out on new things happening in the market.
