MT5 Pros and Cons

MetaTrader 5 (MT5) is one of the most widely used tools by stock traders in financial markets in the world today. However, like any other thing in the world, it has not only benefits but also some drawbacks. In this piece, both sides of the coin will be described in a manner that is concise, clear and well detailed. Move on to the next paragraphs to learn about these.

Advantages of using MT5

This is the logical point to start from. This is because the software’s trading platform offers traders a countless number of features that make trading easier and more efficient. Some of these have been listed below:

• Interface

One of its biggest strengths is the interface. Navigating through the platform is an easy and wonderful experience. It is designed in such a way that one can decide on whether to focus on a single large panel display or multiple ones to view several graphs and items simultaneously.

The navigator also allows one to manage multiple accounts at the same time by easing the movement from one to another. This makes it possible to employ different strategies and moves in different accounts by just the click of a button.

• Analysis

Every trader wants software that can break down all the complex financial data and provide them with information that is easy to understand. This is exactly what MT5 does, it breaks down forex indicators into 5 categories:

1. Trend
2. Oscillators
3. Bill Williams
4. Volumes
5. Custom indicators- are defined by individual traders.

With these at hand, the trader can have an easy time identifying where to invest their money in a manner that does not demand too much effort from them.

Advanced Features

With the advanced features that MT5 has, you do not have to be an expert in the financial sector to be able to trade and earn profits in the forex. One of these is the auto-trading feature which allows the system to trade on your behalf if you so desire.

The platform also comes with an inbuilt expert advisor with access to powerful tools, thus enabling it to provide you with the best suggestion on where to place your money with minimum risks which in turn hedges you from possible losses.

Disadvantages of MT5

Despite the aforementioned pros, MT5 also has a few cons worth touching on. These include:

• The biggest drawback that MT5 has is that it does not support the use of real tick data in its analyses. Though not by a large margin, this may affect the trends that are generated since noise would not be eliminated in entirety.

Another disadvantage is that it does not allow the customers to perform their development as well as debugging in the Microsoft Visual Studio. This is because it is widely regarded as the most advanced IDE today and is the one which a majority of traders are familiar with. This therefore limits the functionalities they can build on the given environment.