MetaTrader 5 is one of the most advanced currently existing platforms intended for trading financial markets (Forex, Stock, Futures & CFD), which was developed by MetaQuotes Software Corp. and released on June 1, 2010.
In October 2009, four years after the successful release of MetaTrader 4, the company brought MetaTrader 5 into public beta testing and, in September 2010, InstaForex launched the very first MT5 live account.
Recognized worldwide, MetaTrader 5 is certified by such exchanges, as Moscow, Chicago, Warsaw, Sao Paolo, etc.
The notable features MetaTrader 5 provides include a flexible trading system, distributed testing of trading systems, trade operations, alerts, technical analysis, fundamental analysis, automated trading programs, the latest development environment MQL5, the multi-currency strategy tester, MQL5 Market, trading signals, as well as News which keep you informed about the main events in the financial world.
Many more useful tools can be found at MetaTrader 5 User Guide.
In comparison with MetaTrader 4, its younger brother expanded the amount of traded products from forex to stocks and commodities. It provides a larger number of charts and timeframes. While the original edition offers nine timeframes for traders to use, MetaTrader 5 provides up to 21 timeframes, with an unlimited number of charts, 100 of which can be open at any given time. MT5 allows traders to purchase or rent forex products directly through the market tab, as well as read industry magazines. Inbuilt forex calendar can be opened in a new tab, and includes features like news events, schedules, expected impacts, forecasts, etc. While MetaTrader 4 features 30 inbuilt indicators, its younger brother goes a step further, offering 38, along with 22 analytical objects and 46 graphical objects. As for market orders, MetaTrader 4 allows to place two market orders and four pending orders. For MetaTrader 5, this capacity is expanded to two market orders, six pending orders, and two stop orders.
In order to create and modify expert advisors, custom indicators, scripts and other MetaTrader autotrading tools, one should be familiar with MetaQuotes Language 5 (MQL5), an object-oriented high-level programming language. Based on the concept of popular C++ programming language, MQL5 allows not only to write various expert systems, designed to operate in real time, but also create their own graphical tools to help you make trade decisions. In comparison with MQL4, the new language now has enumerations, structures, classes and event handling.