- MT5 offers 21 timeframes compared to MT4's 9, giving traders much finer control over chart analysis
- The built-in economic calendar eliminates the need for third-party news tools
- MT5 supports hedging and netting modes, letting you choose the position management style you prefer
- MT5 is the better choice if you trade multiple asset classes beyond forex
Regulated Global Broker Open an Exness account through the official partner link
- Standard account from $10
- Pro, Raw and Zero accounts generally from $200
- MT4, MT5 and Exness app
- Over 98% of withdrawals processed automatically
- FCA, CySEC, FSCA and FSA entities
- Verify the legal entity before funding
July 2026 field note: I refreshed the practical checks in this guide. Use it as a starting point, then confirm the current broker, platform and local-rule details before making a live decision.
July 2026 Application Note: MetaTrader 5 (MT5) Complete Guide#
Use this 2026 note as the live-application layer for MetaTrader 5 (MT5) Complete Guide: focus on asset classes, depth tools and MT5 account settings, then check whether the broker's MT5 symbols match your planned markets. Keep the regulator page, broker terms, order screenshot or calculation that supports the action and watch for assuming every MT4 feature, EA or indicator behaves identically on MT5.
What is MetaTrader 5?#
MetaTrader 5 (MT5) is the successor to MT4, released by MetaQuotes in 2010. While MT4 was built specifically for forex trading, MT5 was designed as a multi-asset platform — capable of trading forex, stocks, commodities, futures, and cryptocurrencies all from a single terminal.
MT5 retains everything that made MT4 great while adding significant improvements: more timeframes, better order types, built-in economic calendar, a depth of market (DOM) feature, and much more advanced backtesting capabilities.
MT5 is the better choice if you:
- Want to trade multiple asset classes beyond forex
- Need more timeframes and technical tools
- Prefer a more modern interface with built-in news/calendar
- Are interested in algorithmic trading with more sophisticated tools
Installation and Login#
The safest way to install MT5 is through your broker's platform page, because the installer usually includes the correct server list.
Desktop setup:
- Download MT5 from your broker or the official MetaQuotes channel.
- Install the terminal and open it.
- Go to File → Login to Trade Account.
- Enter your account number and trading password.
- Select the exact broker server from your account email or client portal.
- Confirm that prices are moving and the bottom-right connection status is active.
If login fails, the most common mistake is selecting the wrong server. Demo and live accounts often use different server names.
Key New Features#
MT5 introduces several features not available in MT4:
| Feature | MT4 | MT5 |
|---|---|---|
| Timeframes | 9 | 21 |
| Order types | 4 | 6 |
| Pending order types | 4 | 6 |
| Built-in economic calendar | ❌ | ✅ |
| Built-in news feed | ❌ | ✅ |
| Depth of Market (DOM) | ❌ | ✅ |
| Built-in chat | ❌ | ✅ |
| Strategy tester passes | Single | Multi-currency, multi-symbol |
| Asset classes | Forex/CFDs | Forex, Stocks, Futures, Crypto |
| Netting/Hedging | Hedging | Both modes |
21 Timeframes#
One of MT5's standout improvements is the expansion from 9 to 21 timeframes:
MT5 Available Timeframes:
- Minutes: M1, M2, M3, M4, M5, M6, M10, M12, M15, M20, M30
- Hours: H1, H2, H3, H4, H6, H8, H12
- Higher: D1, W1, MN (Monthly)
The additional timeframes (M2, M3, M4, M6, M10, M12, M20, H2, H3, H6, H8, H12) allow traders to:
- Build custom chart structures for specific strategies
- Get more granular views without switching platforms
- Better identify entry points on non-standard timeframes
Hedging in MT5#
MT5 offers two position accounting modes:
Netting mode: Only one position per symbol is allowed. If you have a Buy EUR/USD open and you sell EUR/USD, it reduces or closes your existing buy. Used in futures/stock markets.
Hedging mode: Multiple positions in the same direction or opposite direction are allowed simultaneously. You can hold both a Buy and a Sell on EUR/USD at the same time.
Economic Calendar and News#
Built-in Economic Calendar: MT5 includes a real-time economic calendar directly in the platform. You can:
- View all upcoming high, medium, and low impact events
- Filter by country, impact level, or time
- See consensus forecasts vs actual results
- Click any event to see historical data
This eliminates the need to have a separate browser tab open for your economic calendar.
Built-in News: MT5's news section aggregates financial news from multiple providers in real time. You can:
- Read news without leaving the platform
- Filter by currency or instrument
- Set up news alerts
Strategy Tester#
MT5's strategy tester is one of its biggest upgrades over MT4. It supports multi-threaded testing, multi-currency testing and deeper tick-data modelling when your broker provides enough historical data.
Use it to test:
- Expert Advisors before live use.
- Entry and exit rules on historical data.
- Different symbols and timeframes.
- Sensitivity to spread, slippage and commission assumptions.
Multi-Asset Trading#
MT5's biggest advantage is its multi-asset capabilities:
Asset classes available in MT5 (on XM):
- Forex: 50+ currency pairs
- Metals: Gold, Silver, Platinum, Palladium
- Energies: Crude Oil (WTI & Brent), Natural Gas
- Stock Indices: SP500, NASDAQ, DAX30, FTSE100, Nikkei225
- Individual Stocks (CFDs): Apple, Amazon, Tesla, Google, Meta (META), and 100+ more — availability varies by entity and region
- Cryptocurrencies (CFDs): Bitcoin, Ethereum, Litecoin, Ripple
MT5 Mobile and WebTrader#
MT5 is available on desktop, web and mobile. The desktop terminal is best for analysis, EAs and backtesting. The mobile app is best for monitoring trades, adjusting stops and reacting to alerts. WebTrader is useful when you cannot install software on a device.
| Version | Best for | Limitation |
|---|---|---|
| Desktop | Full analysis, EAs, strategy tester | Requires installation |
| WebTrader | Quick access from browser | Fewer advanced tools |
| Mobile | Monitoring and order management | Limited workspace and no full EA testing |
Keep the same risk rules across all versions. Mobile convenience can encourage impulsive trades, so set alerts and plan levels before opening the app.
The more modern architecture of MT5 also means faster order execution, improved backtesting with tick data, and a more responsive interface. For traders who want the most capable, future-proof platform, MT5 is the superior choice.
