Metatrader 5 is the long awaited successor to Metatrader 4, commonly known as the world’s most popular and successful trading platform. Metatrader 5 carries on Metatrader 4’s tradition of high accessibility and ease of use; in addition Metatrader 5 boasts some of the most effective trading tools available. Metatrader 5’s success is just one factor in the global growth of Forex. A wide range of developments have led to the increased popularity of Forex trading; not least the convenience of trading online and the modern perks that come with it such as autotrading and live feeds.
Traders these days don’t even have to contact their brokers to place orders; instead they receive market data directly via a live feed and forward their orders to their broker through Metatrader 5. This is a vast improvement over the days when traders had to contact their broker over the phone to take care of even the simplest tasks. As a result there are now online traders coming from all kinds of previously neglected demographics, from lawyers to software designers, anyone with a passion for economics or politics can get involved and make money.
Metatrader 5 allows for more in depth analysis than ever before. As well as receiving Forex data via a live feed, Metatrader 5 can also organize it and analyze it via its wide range of graphs, charts, historical databases, market indicators and electronic advisors. With these tools it is much simpler for traders to identify particular market behaviors or patterns that are likely to repeat.
The simplest way to become familiar with Metatrader 5 is to get in touch with a broker and ask them to open you an account. A practice account can be opened without any financial investment and allows you to familiarize yourself with Metatrader 5’s major features before making an initial cash deposit.