Novice investors are looking for new ways to make money. It is especially true when the budget is not large, and you do not have access to credit facilities or money from large companies or corporations.
All you have is a phone or a computer, money, and knowledge. For such cases, there is a platform that helps to make transactions from anywhere in the world, and you do not even need to have a computer.
All that’s enough to download the application, enter your MT5 login online, and start earning.
What is this platform?
MetaTrader 5 is one of the most popular OTC trading platforms, set up in popularity only by the earlier MT4 version. The secret of its success is that it combines several key advantages: the platform has a visually user-friendly interface that is intuitive for novice traders.
MetaTrader 5 was conceived as a new platform from a technological point of view, which will expand the trading opportunities for traders. The focus was primarily on adding new tools and increasing the speed of internal processes, including order processing and data transmission.
Advantages and disadvantages of the trading platform
Developers are constantly updating the application, making adjustments, and releasing new versions. As a rule, the new version differs from the previous one. So MT5 has the following advantages:
- Opportunity to trade derivatives. The functionality is intended for stock traders working with stockbrokers. It is possible to obtain data on the time and volume of sales from the exchange.
- Advanced tester. Added visualization capabilities, stress testing, and expanded backtest statistics.
However, the new version is not always perfect. There is nothing wrong with this, you just need to know those points that can interfere with trading in one way or another. Among the disadvantages of MT5 are the following:
- Code errors. The incorrectness of displaying chart quotations and buttons of opening transactions in the window of opening order remained in MT5 as well. There are tester bugs.
- The possibility of manual intervention by the broker. The MT5 server part is under the broker’s control, which can indirectly influence the client software. Platform settings allow the broker to adjust the speed of orders, slippage, etc.
- Inability to lock positions in the netting system.
In order not to confuse traders, the developers did not make significant changes to the interface in the fifth version of the platform (compared with MT4). The changes affected only the functionality — some menu items were expanded, new tabs appeared, and the grouping of some objects was partially changed.
It is worth noting that MetaTrader 5 allows you to earn money using trading advisors — programs that work according to the algorithm specified in the code.
If we talk about the pros, we can highlight the ease of installation and the ability to run several advisors on one asset simultaneously.
This platform is a guide to the world of the financial market. And the Android version does not specifically differ from the computer version, so you can’t be tied to a specific place and earn anywhere in the world.