CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail accounts lose money when trading CFDs. Consider whether you understand how these products work and whether you can afford the high risk of losing your money.
The successor to MT4, with more timeframes, more order types, a faster multi-threaded strategy tester and multi-asset support.
MetaTrader 5 is MetaQuotes’ current platform. Compared with MT4 it adds more timeframes and pending order types, a depth-of-market window, an economic calendar and a multi-threaded strategy tester. It supports exchange-traded instruments as well as forex and CFDs.
Who it suits
Traders starting fresh, and anyone who backtests heavily. Programs written for MT4 in MQL4 do not run on MT5 without being rewritten in MQL5, which is the main reason some traders stay on the older platform.
What to check with a broker
Ask whether accounts are hedging or netting, which instruments are available on MT5 specifically, and whether commissions differ from the broker’s MT4 accounts.
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CFDs and leveraged forex are complex instruments and come with a high risk of losing money rapidly due to leverage. Most retail accounts lose money when trading CFDs. Consider whether you understand how these products work and whether you can afford the high risk of losing your money.