Gone were the days when trading can only be done using a desktop computer. Nowadays, thanks to MetaTrader 5 which is widely available for iPhone, iPad, and Android devices. Trading can be done while on the go through the use of this popular trading platform which offers a wide range of markets like CFDs, Forex, Futures, Cryptocurrencies, Equities and so much more. It is very easy to access the MT5 platform using Android and iOS devices and it also helps you adapt to the fast-changing financial market.
Installing MetaTrader 5 on iOS
Like any other iOS application, you have to go first to the iTunes app store and search for ‘MetaTrader 5’. This will take you to a page where you can see a number of options related to your search. Download MT5.
After this, you can pick the New Account and find your Forex Broker. In case you are using an existing account, you may simply enter your login details as well as your password.
After you sign in to your account in MetaTrader, you will see a number of Quotes with real-time market prices. According to the format of the Quotes, either simple or advanced, it is arranged so as to provide easy access for users. But one important thing about the mobile version of MT5 that’s worthy to be mentioned is that it doesn’t operate automated trading robots.
You are not allowed to add Expert Advisor (EA) script or the Custom Indicator for MT5 and MT4. Also, the feature that lets you follow or copy signals are not allowed with Android and iOS apps. You can only access these things from tablets or computers that are running with normal Windows OS. What you can do with MT5 mobile apps is to place orders. Its main advantage will be the executing of trades and viewing its status while you are on the go.
As for the Chart Facilities being offered at MT5 mobile version, it is very functional and clear, ideally great for technical analysis. There are 9 different timeframes offered in the platform and one-click trading is also available.
You can scroll throughout the chart by clicking and dragging at the screen. The zoom function is also available by simply tapping the screen and drawing fingers apart or together.
When you select a trade tab, you are highlighting the current state of your account – the Free Margin, Equity, and Balance. From here, you can withdraw or deposit funds. To do this, you must select the ‘File’ tab located in the upper left corner of the app. If you want to open a trade, you can click the “+” function situated in the upper right corner.
The mobile version of MetaTrader 5 gives you the chance to trade with an array of order types using your mobile phones. You can do so by clicking the Instant Execution. Using the app, you can assign a buy and sell limit, buy and sell stop limit and buy and sell stop.