In What Ways Is Metatrader 5 Better Than Previous Versions?

Metatrader is a renowned platform, every trader knows that. It has become quite popular thanks to its simplicity and high functionality. Metatrader is both easy to use and highly practical, as it contains all functions that traders need, and much more. The most recent version is the 5th version, with enhanced features and benefits to traders. In many ways, MetaTrader 5 (or MT5) is better than previous versions, and this should make the trader’s task of analyzing and trading the markets much easier.

The new benefits in Metatrader 5 not present in MT4

1. New orders available. The previous editions of Metatrader included 6 types of orders, which are: buy at spot price, sell at spot price, buy stop, buy limit, sell stop, sell limit. Those orders make it easy to enter positions in the future, should the price reach a certain point. The MT 5th version has new types of orders added to it, which are buy stop limit, and sell stop limit. They allow you to enter positions after the market touches a certain price level and then moves to reach another price level. These orders are highly beneficial especially for professional traders who plan their trades well in advance.

MT5 order types

https://www.metatrader5.com/en/mobile-trading/iphone/help/trade/general_concept/order_types

2. The MT5 platform is more stable than its predecessor. Thanks to bug fixes and general improvements, the new MT5 is faster and more stable than the previous versions. This should improve execution time for your trades, reduce slippage, and make the trading experience more pleasant.

3. More time frames. MT4 included 9 timeframes, from 1-minute to 1-month. Metatrader 5, on the other hand, has 21 timeframes. This should significantly improve your ability to analyze the markets and make decisions.

4. MT5 has real volume data. Volume data is quite valuable in that it enables you to distinguish between market moves that took place due to temporary spikes or poor liquidity, and between those that happened due to conviction. Volume is a great indicator to add to your toolbox.

5. New bulk commands. The new bulk commands that have been added in the most recent update enable you to close several positions with one click, as well as remove pending orders collectively. This should help you execute orders faster, especially if you have multiple orders open on the same instrument. You can choose to close all positions, only profitable positions, or only losing ones. Additionally, you can reverse positions if you believe the market has reversed direction.

6. The platform’s design has been improved. The development team has worked hard to make MT5 a more user-friendly and intuitive platform. The improvements covered the icons, the navigation bar, the colors, and much more. This should enhance readability as well as the ability of traders to act fast in a dynamic environment.

Summary

MT5 is rich in tools that will help you trade more effectively and efficiently. Make sure you explore it in depth and breadth and manage your risk well to get the best outcome.