MT5 Terminal using config files

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Normally you download and install MT5 terminals from a broker.

Naturally they are configured for the broker. Names of symbols, other symbol information and such, etc.

I noticed that you can specify a lot of things in a config file including symbol lists, logins, servers, passwords, etc.

I was wondering, can you effectively (if you supply all these things and maybe more in a config file), use any MT5 terminal with any broker?

Would things like Symbol Information and other information be reported correctly?

 

MT5 (and MT4 before that) has always been the same software for any broker. It does not matter where you download it from.

It will always work with any broker. The only differences is that brokers add cosmetic branding.

All you have to do is supply the account number, password, and trader server name and it automatically connects to the another broker.

You don't need to make any changes to the config.


 
Fernando Carreiro #:

MT5 (and MT4 before that) has always been the same software for any broker. It does not matter where you download it from.

It will always work with any broker. The only differences is that brokers add cosmetic branding.

All you have to do is supply the account number, password, and trader server name and it automatically connects to the another broker.

You don't need to make any changes to the config.


thanks Fernando but if you don't at least tell it what symbols to load then it will not be correct..

I guess I see what you mean, that a user could load symbol files manually.

But I know with some brokers you need to calculate pips differently than with others as they can be 4 or 5 digits (or others), or is that only a problem with MT4?

 
ycomp #: thanks Fernando but if you don't at least tell it what symbols to load then it will not be correct.. I guess I see what you mean, that a user could load symbol files manually.

But I know with some brokers you need to calculate pips differently than with others as they can be 4 or 5 digits (or others), or is that only a problem with MT4?

  1. Obviously different brokers may have different symbol naming, but in that case you can save a different profile for each broker with the symbols you want viewed in the Market Watch and your open charts.
  2. Forget "Pips". Always use the "points" or "ticks" as reported by the contract specifications and you will not have any problems, especially in code given that MQL5 offers functions to automatically calculate Margin and Profit (or volume) based on the contract specifications.
  3. 4 or 5 digits is a thing of the past that affected MT4.
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