How to Trade with MT5
MetaTrader5 (MT5) is a popular online trading platform that can be used to automate your trading. Here’s a guide on what MetaTrader 5 is and how to use it.
What is MetaTrader 5?
MetaTrader 5 is the evolution of online trading platforms, connecting traders to global markets through real-time pricing, advanced charting, and comprehensive analysis tools. While MT4 focused on forex, MT5 expands to stocks, commodities, cryptocurrencies, and futures—creating a single hub for multi-asset trading.
Built for today's trading landscape, MT5 preserves the familiar MetaTrader interface while delivering faster execution, 21 timeframes (vs MT4's 9), and sophisticated automation through Expert Advisors. It's not a replacement for MT4 but an advanced alternative for traders seeking greater flexibility and institutional-grade tools.
HOW TO GET STARTED ON MT5
Getting started with MetaTrader 5 (MT5) is simple and intuitive. The steps below guide you through opening an account, setting up the platform, and customizing your workspace.
- Open a tastyfx account: Apply for a standard tastyfx forex account. Most applications will be approved within minutes.
- Add an MT5 account: Head to the Accounts Dashboard, where you can select ‘MetaTrader 5 Forex’ from the ‘Add an account’ pop-up.
- Download MT5: Install the MT5 trading platform on your desktop or mobile device using the official tastyfx link to access 115+ preloaded indicators and Expert Advisors.
- Log in to your MT5 account: Launch MT5, select the tastyfx server (tastyfx-LIVE), and enter the MT5 login credentials emailed to you to connect your account.
- Fund your account: Deposit funds through the tastyfx Accounts Dashboard via bank transfer, debit card, or wire transfer.
- Customize your MetaTrader5 workspace: Set your preferred chart type, timeframes, and layout to create a comfortable trading environment.
HOW TO TRADE FOREX WITH MT5
Once your MT5 platform is connected and customized, placing your first trade is simple. Follow the below steps to get in the game—plus, learn how to manage open positions and review past activity—building confidence and refining your trading approach as you go.
- Select your markets: Use the “Market Watch” window to choose the forex pair, stock, commodity, or other instrument you want to trade.
- Add indicators and add-ons: Load technical indicators, scripts, or Expert Advisors (EAs) if you plan to use automated or custom strategies.
- Build your trading assumption: Analyze charts, news, and indicators to decide whether you expect the market to rise, fall, or consolidate before entering a trade.
- Set trade parameters: Choose your position size and consider possible stop-loss and take-profit levels before placing an order.
- Place your order: Execute a buy or sell trade through the “New Order” window or directly from the chart.
- Monitor and manage your position: Watch price action, adjust stops and limits as needed, and manage risk in real time.
- Close your position: Close the trade manually, or rely on your stop-loss or take-profit orders to exit the position automatically.
- Analyze your results: Use the “History” tab to review completed trades, assess performance, and refine your approach for future trades.
Benefits of Trading Forex with MetaTrader 5
MT5 transforms forex trading with 21 timeframes that reveal both micro price movements and macro trends. The built-in economic calendar and market depth display provide crucial context—showing upcoming volatility events and real liquidity at different price levels.
Speed matters in forex, and MT5 delivers with lightning-fast execution and rock-solid stability—enhanced with an MT5 VPS. You can backtest strategies against historical data, then deploy successful approaches through Expert Advisors for emotion-free, consistent execution. With integrated risk management tools and cross-device synchronization, you stay connected and in control whether trading from desktop, web, or mobile.
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Start Trading on MT5 Today
45 free pro indicators exclusive to tastyfx
60+ forex pairs
Spreads from 0.8 pips, zero commission*
Start Trading on MT5 Today
45 free pro indicators exclusive to tastyfx
60+ forex pairs
Spreads from 0.8 pips, zero commission*
FREQUENTLY ASKED QUESTIONS
Yes. MT5's clean interface and demo accounts make it beginner-friendly while offering room to grow. Start with basic charts and indicators, then explore advanced features as your skills develop. While MT4 might be simpler for forex-only traders, MT5's broader capabilities make it the smarter long-term choice.
Absolutely. MT5 excels at forex with real-time pricing across all currency pairs, 21 analytical timeframes, and integrated news/economic data. Fast execution combines with stop-loss and take-profit orders for round-the-clock risk management. Advanced traders benefit from robust backtesting and Expert Advisor automation for consistent strategy execution.
Beyond forex pairs, MT5 connects you to stocks, commodities, indices, cryptocurrencies, and futures—all from one platform. This unified access simplifies portfolio diversification and cross-market opportunities without switching between multiple applications.
A VPS (Virtual Private Server) runs MT5 24/7 on cloud servers, keeping Expert Advisors and strategies active even when your computer is off. Essential for automated trading, overnight sessions, and ensuring orders execute without interruption from local internet or power issues.
Yes. MT5's pending limit orders execute automatically at your specified prices. Buy limits trigger below current price when markets fall; sell limits trigger above when prices rise. This disciplined approach captures better entry points without chasing markets.
MT4: Forex-focused, 9 timeframes, simple interface perfect for beginners.
MT5: Multi-asset capable, 21 timeframes, market depth, faster processing, integrated economic calendar Key MT5 advantages include multi-threaded backtesting, advanced order execution, and access to stocks, commodities, indices, and cryptocurrencies beyond forex.
Yes. MT5 is completely legal when used through U.S.-regulated brokers like tastyfx. Not all brokers offer MT5, but tastyfx provides full access for eligible traders.
MT5 itself has no minimum deposit and neither does tastyfx. Fund with as low as $1 to start and scale up as you please.
* tastyfx does not charge commissions. tastyfx is compensated through a hedging arrangement with IG Markets Ltd.