MT5 WebTrader  Overview: All You Need to Know as a Trader

Trading is popular yet challenging, and having a proper platform with a wide range of tools is crucial for a successful trader. MetaTrader 5 (MT5) is a popular trading platform offering advanced features for both retail and professional traders. As a successor to MT4, it expands its capabilities to cater to markets like Forex, stocks, futures, or even cryptos.

MT5 WebTrader is a browser-based trading platform designed to meet the evolving demands of traders, offering features suitable for both beginners and seasoned traders, enhancing their efficiency. It requires no installation, making it a convenient choice for beginners.

This article provides an overview of MT5 and the WebTrader terminal, as well as step-by-step guidance on how to configure it and start trading right from your browser window.

What is MetaTrader 5?

MetaTrader 5 (MT5) is a trading platform developed by MetaQuotes Software Corp in 2010. It is a versatile trading platform that offers access to various asset classes, like Forex, stocks, commodities, and futures. It has over 80 built-in technical indicators and analytical tools and 21 timeframes for thorough market analysis. MT5’s advanced trading strategy tester allows traders to evaluate Expert Advisors (EAs) and optimise their performance across multiple currencies and under varying market conditions.

MetaTrader 5 also has a thriving community of traders and developers who provide valuable resources and support. Users can connect with fellow traders through online forums, user groups, and social trading platforms. MetaQuotes Software offers comprehensive documentation, video tutorials, and customer support to enhance their experience with the platform.

MT5’s user-friendly interface allows users to manage positions, place orders, and monitor their trading history. The platform also supports the development of custom indicators, scripts, and expert advisors, allowing traders to tailor the platform to their unique strategies.

MT5 is less prevalent than MT4, but it offers a variety of markets and derivatives beyond CFDs, a feature not found in most Forex brokers.

MT5 is globally accessible, but its availability depends on the broker’s international reach and regulatory environment. To use MT5, traders must connect it to a broker, which may not accept traders from every country due to their own financial regulations and operational priorities.

MT 4 vs MT 5

MT5 and MT4 differ in market accessibility, analytical tools, algorithmic trading, economic calendar, and order execution types. MT5 offers a broader range of assets, including CFDs, Futures, Options, stocks, ETFs, and cryptocurrencies, whereas MT4 focuses solely on CFDs.

MT5 offers more advanced tools, including technical indicators, graphical objects, and a more sophisticated MQL5 language for automated trading. It also supports additional order types and execution methods, providing traders with more insights and data.

However, MT5 has some disadvantages. It is less user-friendly, not compatible with MQL4, and offers fewer custom indicators than some competitors. Also, MT5 can experience market slowdowns during volatile markets and varying asset availability, which can be problematic for beginners or those transitioning from other platforms.

What is MetaTrader WebTrader?

MetaTrader has been available on Windows PCs since 2005 and is considered the best-designed platform. However, for traders running Linux, Mac OS, Chrome OS, and other unofficial systems, MetaQuotes has released a web-based MetaTrader Web, or WebTrader, to cater to these users.

MT5 WebTrader is a web-based trading platform that enables users to trade financial instruments directly from their web browser without software. 

On this platform, users can place trades, monitor their positions, view real-time price charts, perform technical analysis using indicators, draw tools, and other analysis tools. Additional features like economic calendars and news feeds may also be available, but the platform’s specific features may vary depending on the broker.

The WebTrader trading terminal provides the same benefits as desktop platforms, making it ideal for those away from their main trading terminals who prefer a web-based trading experience.

How to Configure MT5 WebTrader

WebTrader offers three main trading windows:

Market Watch, which displays real-time prices and spreads of available trading instruments;

The Chart window, which displays the chart of the selected instrument;

The Toolbox which has three icon tabs: Trade, History, and Journal, which display current open orders, closed orders, balance operations, and platform information.

WebTrader offers powerful features for charts. Users can customise the MT5 web platform to fit their individual needs. The Market Watch window displays popular trading instruments for each account type. Users can click on the Search symbol box to add more instruments and expand the list of symbol groups. Common symbol groups include Forex for currency pairs, METALS for instruments like XAUUSD, ENERGIES for USOIL or UKOIL, and INDICES for indices like US30.

To open a chart for an instrument, click on the symbol and choose from three types: Bar chart, Candlesticks, and Line chart. Timeframes can be changed by selecting one from the header or opening Charts > Timeframes. To change colour settings, click the Hamburger button ☰ on the top left corner and choose one of the colour schemes: Green & Red, Blue & Red, Black & White, or Neutral.

A Step-by-Step Guide on How to Trade with MT5 Web Terminal

To start trading with MetaTrader WebTrader, you need a live or demo trading account for MT4 or MT5. To use MT5, follow these steps:

1. Search for MetaTrader 5 brokers that offer MT5 accounts.
2. Obtain MT5 Credentials from your broker: Provide login details for MT5, such as server name, user ID, and unique password.
3. Choose a device to use: the broker may provide a link for downloading MT5, a web-based MT5 platform, or a mobile app.
4. Start the MT5 application on your device and input the login details provided by your broker.
5. Log in to your MT5 trading account.

Now that you have an MT5 account, you can use WebTrader to manage your trading operations.

Logging In

To use MetaTrader Webtrader’s terminal, enter your MT5 account details and choose the relevant server in the dialogue box. If you’re unsure of your MT5 WebTrader login details, log into the Dashboard. Now, you can start viewing trading products on the web terminal.

Opening a Chart

The Market Watch window on the web terminal’s screen allows users to open trading charts, check available assets, and add symbols. The screen displays a list of trading symbols, and if you don’t see the necessary instrument, you can search for it by typing its name in the search bar. Once found, click on the desired instrument to open a price chart.

Each symbol’s chart can be accessed by right-clicking, and the time frame can be adjusted to monitor prices during the desired trading period.

Using Technical Indicators

MetaTrader offers various technical indicators and trading signals for entry and exit signals. To add your preferred indicators, click on the icon at the top of the screen and select the desired indicator.

Remember that the web-based platform does not allow users to use custom indicators set up on the desktop platform.

Entering and Exiting Trades

WebTrader allows users to place both market and pending orders. To open a market order, double-click the trading instrument in the Market Watch window, specify the volume, choose Market Execution as the order type, and optionally set Stop Loss and Take Profit levels. Finally, click Sell or Buy.

To place a pending order, double-click the trading instrument, specify the volume, choose the type, and set Stop Loss and Take Profit levels. Click Place to wait for the market price to reach the specified price.

Open trades are displayed at the bottom, along with current positions, balance, equity, margin, free margin, and margin level.

To modify open and pending orders, right-click on the order in the Trade tab and select Modify or Delete. This allows you to set Stop Loss or Take Profit for open market orders, modify the open price, and specify the expiration date for pending orders. To close an open order, click ‘X’ in the Trade tab or right-click on the order and choose the Close position button. A dialogue box will appear, asking if to exit or modify the position to continue trading.

The closed order will be shown in the History tab.

One-Click Trading

One-click trading is a feature that allows you to enter or exit trades with just one click. To enable this feature in MetaTrader, click the icon at the top toolbar or click the ☰ button in the top left corner. The number in the middle represents the trade volume. Specify the volume and click Sell or Buy to enter the trade.

The platform displays market prices at the top left corner, prompting confirmation before automatically executing trades with a single click after each use.

Bottom Line

Meta Trader 5 is a modern, robust online trading platform that offers a range of advanced charting tools, multi-asset trading capabilities, automated options, and a customisable interface to cater to the trading community’s diverse needs. It’s suitable for both novice and experienced traders, allowing them to enhance their trading performance and achieve financial goals.

MT5 WebTrader is a unique tool that allows Forex trading directly from your browser. Understanding how to trade and invest using various instruments through the MetaTrader web terminal is crucial. To familiarise yourself with the platform, try trading with a demo account before moving to live markets.