With the most popular mobile devices based on iOS and Android, the trading platform allows for financial trading and market analysis. You can manage your trading account, check price charts, and employ technical indicators and analytical items on mobile platforms. You can also use your MQL5.community account to read financial news, be notified of significant account events, and send messages.
Trading in the financial markets (Forex, Stocks, Futures, and CFDs) from anywhere, at any time, using your mobile device is possible with MetaTrader 5. You will constantly be aware of financial news and able to trade if you have a smartphone or tablet with MetaTrader 5 installed. All of the MetaTrader 5 trading platform's features are directly in your hands!
MetaTrader 5 for mobile trading is your daily companion and indispensable tool. With MetaTrader 5, stay mobile, trade in financial markets, acquire transaction information, and evaluate it 24 hours a day. You're a trader who always has an iOS or Android-powered smartphone or tablet with you? The MetaTrader 5 mobile terminal is the most versatile and handy tool for trading in the financial markets!
MetaTrader 5 for Mobile iOS (iPhone, iPad, iPod Touch)
Connect to a trade server, acquire currency quotes, trade in the financial markets, and check the history of your trade activities using MetaTrader 5 for iPhone. You have access to a full-featured trading platform that rivals the PC version's trading capabilities. All of these capabilities are now available in MetaTrader 5 for iPhone, including buying and selling assets, placing stop orders, altering position volume, working with pending orders, market analysis, and technical indicators.
One of the most essential features of MetaTrader 5 for iPhone is interactive charts. Not only can you resize and scroll them, but you can also change the period - from M1 to D1.
Another important point of the MetaTrader 5 iPhone trading platform is technical analysis support for mobile trading. The iPhone version of MetaTrader 5 includes 30 of the most prominent technical indicators. You can have up to ten indicator windows open at the same time. In addition, you can apply indicators to windows with additional indications as well as the main chart window. Furthermore, push notifications from the PC version of the client terminal as well as MQL5.community services are supported.
Users of MetaTrader 4 for iOS can speak with any registered MQL5.com member. To send a message straight to a user's mobile device, specify the targeted user's login in the message recipient's area.
How to Trade on MT5 from a Mobile Device
MetaTrader 4 is being phased out in favor of MetaTrader 5. This beginner's lesson will show you how to use the fundamental capabilities of MetaTrader 5 on your mobile device if you're new to the platform.
Install the MT5 App on your Mobile Device.
The first step is to download the mobile app to your device from the app store. The app stores where MT5 is available are listed below.
Connect with your Broker.
Log in to your brokerage account once MT5 is installed. If you don't already have a brokerage account, find one that suits your needs. Ensure that they are compatible with the MT5 platform.
To create a new account, go to Settings > New Account.
Then use the search bar to find your broker and log in.
You can use instaforex as your broker.
You can also use MT5 with the demo account that was created automatically when you installed the program. The demo account is ideal if you only want to use MT5 for charting or notifications.
How to Create a Currency Pairs Watchlist
It's now time to set up the currency pairings you'll be watching. Your currency pair watchlist will appear when you tap the Quote button at the bottom of the screen.
By tapping the plus icon in the upper right corner, you can add currency pairs.
Tap the pencil symbol in the top left corner to edit your list.
Tap and hold the three-line handle to the left of the currency pair you want to shift to reorder the pairs. Drag the pair into the location you want it to be in once it's been selected.
Select a pair for deletion by tapping on the circles on the left. Tap the trash icon in the top right corner once you've picked the pairs you want to discard.
Making Use of the Charts
To view a chart, pick the Chart option after tapping on a currency pair in the watchlist.
You can adjust the timeframe in the upper left corner of the screen after the chart is open. You may utilize the crosshair, add indicators, add drawing objects, and show the buy/sell buttons as you go across the top of the screen.
To change the currency pair, tap on the description of the currency pair, and a dropdown menu of the possible currency pairs will appear.
Placing Trades on MT5 Mobile
This is the section that you are most likely interested in. You can place a trade in a number of different ways.
• On the Chart: To enable the one-touch trade buttons, tap the symbol in the upper right corner. In the middle, choose your lot size, then purchase or sell. Before you may place your first trade, you must agree to the terms. It's important to be cautious because it's easy to make duplicate trades.
• On the Quote page, type: Select Exchange after tapping on the currency pair you want to trade.
• To add a trade, tap the + icon in the upper right corner of the Trade screen.
You'll be brought to this screen to enter your order if you use the Quote and Trade screen entries.
You can change the currency pair you're trading at the top of the screen.
The order can then be changed from Instant Execution to a halt or limit order. The lot size can be specified under the order type. The lot size you will exchange is the number in the middle. To add a micro lot, tap +0.01, and to add a mini lot, tap +0.1. Tap on the minus lots to decrease the required units if you wish to reduce your lot size.
You can set your stop loss, take profit, and deviation after you've determined the lot size. These numbers can be entered by tapping the plus and minus symbols, or by tapping the center and inputting the value using the keyboard.
The variance was initially perplexing to me, but it is essentially a buffer. If your deviation is set to 2 pips, your stop loss and take profit orders will be executed when the price is 2 pips away from those price levels. I'm not clear why you wouldn't just adjust those values, but it's most likely to take advantage of fast-moving markets where you wouldn't otherwise be executed. After you've set your parameters, click the purchase or sell button.
History of Trade
By tapping the history symbol at the bottom of the screen, you can see your account balance as well as your trading history. You may see Positions, Orders, and Deals on this screen.
MetaTrader 5 Mobile has Market Depth and all sorts of trade orders, as well as two position accounting methods (netting and hedging). The built-in collection of indicators and analytical items in the mobile application allow for professional technical analysis. With MetaTrader 5 (MT5) Mobile, you can now access your account, track your transaction history, buy and sell currencies, and swap assets all with a single tap.
That's how the MetaTrader 5 mobile app works. If you've used the MT4 mobile app before, you'll find MT5 to be very similar. However, there are a few quirks to be aware of, so it will take some time to become used to. It's a reliable mobile charting and trading platform that's one of the best for Forex traders. Because not all brokers accept MT5, double-check with your broker before downloading the app if you wish to trade on it.
Don't forget to visit instaforex if you want to learn more about trading.