In this article

As a hard-working, goal-oriented, and well-rounded person, I always strive to do quality work for every job I do. Faced with challenging tasks in life, I have developed the habit of thinking rationally and creatively to solve problems, which not only helps me develop as a person, but also as a professional.

Read MoreLinkedin

Alexander Shishkanov has several years of experience in the crypto and fintech industry and is passionate about exploring blockchain technology. Alexander writes on topics such as cryptocurrency, fintech solutions, trading strategies, blockchain development and more. His mission is to educate individuals about how this new technology can be used to create secure, efficient and transparent financial systems.

Read MoreLinkedin

Proofreader

Anton Boykov

Seasoned copywriter with a focused expertise in crypto and fintech, adept at translating complex industry jargon into clear, engaging content. Driven by my mission to illuminate the intricacies of the crypto and fintech industries, my commitment is to create and deliver content that educates, engages, and empowers. I strive to foster understanding, inspire confidence, and catalyze growth in these dynamic sectors, contributing to the forward momentum of our digital financial future.

Read MoreLinkedin
Share

Trading Cryptocurrencies on MT5

Articles

Reading time

Trading Cryptocurrencies on MT5

MetaTrader 5 (MT5) trading platform is one of the most popular trading platforms in the financial industry and is used by millions of traders across the globe for trading Forex, stocks, metals, equity indices, commodities, cryptocurrencies and futures. Through time, it has become the platform of choice for both traders and cryptocurrency enthusiasts. Traders now have the opportunity to trade Bitcoin, Ethereum and a large range of other cryptos as part of the asset suite on the MT5 platform, enabling them to be part of the cryptocurrency trend. Brokers are also benefiting from increased revenue opportunities as the interest in crypto continues to grab the headlines for reaching levels not seen before in Forex.

Why MT5? So why is MT5 so popular? There are many reasons. For a start, it can manage multiple asset classes, it is FIX compliant and has applications for desktop, as well as mobile (iPad & Android). Furthermore, it makes use of trading algos and automated bots which can help maximize profits while minimizing manual input. Traders are also able to download free applications from the market. This is particularly useful for beginners who wish to better understand the principles of algorithmic trading and choose robots that best compliment their trading strategy.

  • Built-in market analysis tools with dozens of technical indicators and analytical objects which can be used to gauge the best times to buy or sell for profit.
  • A trader can profit from upwards or downwards cryptocurrency price movements and potentially profit by selling (going short) when prices are falling and by buying (going long) when prices are rising.
  • As cryptocurrencies are highly volatile assets, they present many trading opportunities for traders.
  • Cryptos can be traded on an intraday, swing trading or position trading basis. Scalping and hedging is also possible.
  • The mobile app supports trading functions 24/7 and provides analytical capabilities as well as enabling traders to monitor their account status and view their trading history.

How to Trade Cryptocurrencies on MetaTrader 5

To start trading cryptocurrencies you should follow these steps:

  • Open an MT5 account with your broker.
  • Using your credentials, log in to your MT5 platform.
  • After opening the platform and logging in, right-click on the Market Watch window and select the ‘Symbols’ tab.
  • Select ‘Crypto’ from the list of assets in the ‘Symbols’ window. Click against each cryptocurrency symbol, then click ‘Show’ to include the cryptocurrency pairings to the Market Watch window.
  • The cryptocurrency pairing is now available for trading.

Cryptocurrency trading usually comes with its own contract specifications which will be stipulated by your broker.
Trading cryptocurrencies on MT5 is therefore a straightforward and attractive option thanks to the number of benefits offered. It is also possible to get involved in the cryptocurrency business and trying to generate revenue by exchanging cryptocurrencies for cash via an exchange. The principle is to buy Bitcoin, for example, at a lower price and resell it for fiat currencies at a higher price. This alternative method of trading also offers advantages although can present a higher risk than trading on MT5 as there is no way of knowing when the price of a cryptocurrency will be low enough to buy or high enough to sell. Cryptocurrencies are highly volatile assets, so it is arguably easier to sustain losses using this approach.

Furthermore, it can take some time to confirm transactions. During this window period, the price of the cryptocurrency may change and could move adversely against you.

If you would like to launch your own crypto brokerage and offer your clients the opportunity to start trading cryptocurrencies on MT5 platform, get in touch.

Seeking answers or advice?

Share your queries in the form for personalized assistance

As a hard-working, goal-oriented, and well-rounded person, I always strive to do quality work for every job I do. Faced with challenging tasks in life, I have developed the habit of thinking rationally and creatively to solve problems, which not only helps me develop as a person, but also as a professional.

Read MoreLinkedin

Alexander Shishkanov has several years of experience in the crypto and fintech industry and is passionate about exploring blockchain technology. Alexander writes on topics such as cryptocurrency, fintech solutions, trading strategies, blockchain development and more. His mission is to educate individuals about how this new technology can be used to create secure, efficient and transparent financial systems.

Read MoreLinkedin

Proofreader

Anton Boykov

Seasoned copywriter with a focused expertise in crypto and fintech, adept at translating complex industry jargon into clear, engaging content. Driven by my mission to illuminate the intricacies of the crypto and fintech industries, my commitment is to create and deliver content that educates, engages, and empowers. I strive to foster understanding, inspire confidence, and catalyze growth in these dynamic sectors, contributing to the forward momentum of our digital financial future.

Read MoreLinkedin
Share