Investors must be familiar with MetaTrader 4. This is one of the most commonly used platforms worldwide. Following the success of MT4, ICMarkets MetaTrader 5 has quickly reached a large number of investors. Immediately refer to Learn Forex Trading share to better understand this platform.
What is ICMarkets MetaTrader 5?
ICMarkets MT5 is also known by its abbreviation ICMarkets MT5. Currently, this is one of the platforms trusted by many investors.
When making transactions here, investors will receive extremely enthusiastic support. Specifically, charting tools, price analysis tools, expert advisors, algorithms, etc. These tools will help traders increase their chances of winning when making trades.
Learn about ICMarkets MT 5
Like any other platform in the market, there are different advantages and disadvantages. Specifically:
Analyzing the advantages of MT5 ICMarkets
ICMarkets MetaTrader 5 possesses many outstanding and outstanding advantages compared to the old version. As follows:
Tools equipped on ICMarkets MT5
- Investors can freely customize the time unit. Besides, constantly updating new measurement methods.
- Provides up to 44 financial instruments, 38 indicators, and 4 different order execution types.
- There are 21 different time frames giving you access to twice as many time frames compared to MT4. MT5 has up to 11-minute charts, 7 hourly chart types, and 365 daily, weekly, and yearly timeframes.
- There is an automatLearn Forex Trading history summary on the index chart.
- Investors can review their transactions in the transaction history section.
- The platform operates stably, the connection speed to the server is fast, and there are few errors.
- There is support for investors with the hedging method. But it is not available by default and must be installed.
Outstanding points compared to the old version
- There are 21 different time frames giving you access to twice as many time frames compared to MT4. MT5 has up to 11-minute charts, 7 hourly chart types, and 365 daily, weekly, and yearly timeframes.
- Offers more financial tools and indicators than MT4.
- The platform has an integrated economic calendar.
Disadvantages often found on ICMarkets MetaTrader 5
Besides its outstanding advantages, ICMarkets MT5 still has a few minor disadvantages. Specifically:
- Currently, investors will not be allowed to hedge their risks in standard software. Instead, traders must request its activation from their exchange.
- In addition, ICMarkets is integrated with many new and more complex features than the old version. Therefore, sometimes you will encounter a slight system error. However, it will not affect the transaction too much and will not cause any other losses.
What should you keep in mind when trading with MT5 ICMarkets?
To achieve the highest efficiency, investors need to note the following important things:
- Regardless of investing in any field, you need to develop a clear investment strategy and a specific plan.
- Make sure to clearly understand the market situation before placing an order.
- The transaction area needs to prepare a stable mentality.
- Need to prepare investment knowledge before trading on ICMarkets MetaTrader 5. Get familiar with the platform and interface before official implementation.
- You should practice trading everyday or practice in a demo account before practicing real trading.
How to place a trading order on MetaTrader 5 ICMarkets?
Below are instructions for installing and performing transactions on ICMarkets MetaTrader 5 that investors should refer to.
How to download MT5 ICMarkets
- Step 1: Access ICMarkets
- Step 2: Find Platform and select MT5.
- Step 3: Click Download MetaTrader 5. The application will automatically be installed on your device in 2 – 3 minutes.
After successful installation, you just need to open the downloaded ICMarkets MT5 application log in to your account, and trade as usual.
How to do basLearn Forex Trading on ICMarkets MT5
To make trades on ICMarkets MetaTrader 5, you just need to follow the following instructions:
- Step 1: At the main interface, select Tool > Select New Order.
- Step 2: Right-click on the price chart and select trading > select New Order.
- Step 3: Select the product you want to trade in the Market Watch area and select New Order.
- Step 4: Double-click on the product you want to make a transaction.
- Step 5: Select the New Order icon on the toolbar. At this time, the screen will display order information. Include:
- Symbol: Select the product that investors want to trade.
- Type: Order type.
- Volume: Enter the desired volume you want to trade.
- Stop Loss: Fill in the stop loss level information.
- Take Profit: Enter the desired take profit level.
- Fill Policy: Choose the most suitable order-matching policy.
- Step 6: After filling in all of the above information, everyone will select the Sell or Buy button to complete the order.
>>>See more: ICMarkets register on your phone is the fastest
Instructions for checking information on ICMarkets MetaTrader 5
If you want to check your account and transaction history, you can follow the instructions below.
Check account
To check the current balance in your account, you just need to go to Terminal or press CTRL + T. Then select Trade. Here the balance will be displayed along with “Equity” and “Free Margin” amounts.
Check transaction history
All performed transactions are saved by ICMarkets MetaTrader 5 in the transaction history section. Steps:
- Step 1: Go to VIEW > Go to Toolbox or press Ctrl + T.
- Step 2: Select History.
- Step 3: Click on the octet command.
- Step 4: Select Custom Period
- Step 5: Select the time frame for which you want to view transaction history.
- Step 6: Finally click OKE. The system will display transactions that have been performed during this period.
Transaction history will help investors grasp the current capital situation. From there, come up with appropriate strategies at the present time.
Conclude
Thus, the article has compiled all the information about ICMarkets MetaTrader 5. Hopefully, with Learn Forex Trading‘s sharing, traders will be equipped with more basic knowledge when investing. Don’t miss the next articles to learn more effective investment knowledge.
>>>See more: Trade effectively with the leading ICMarkets MT5 platform
Frequently asked questions
Below are a few frequently asked questions when getting acquainted with ICMarkets MT5. Refer to better understand this reputable trading platform.
Is there a fee to download ICMarkets MT5?
The answer is NO. Downloading MT5 to your device is completely free. You will not lose any money when downloading MetaTrader 5 when using it.
Can ICMarkets MetaTrader 5 be installed on phones?
H is currently supporting installation on both computers and phones with Android and IOS operating systems. Therefore, you just need to follow the instructions in the article to install it on your device. In particular, when installed on the phone, it will help investors easily monitor the market and conduct investment transactions at any time.
Does ICMarkets MT5 have a demo account?
The answer is yes. For traders new to the investment market, start trading with a DEMO account. This will be an opportunity for traders to get familiar with the interface and grasp how to trade before making actual transactions. After that, you can convert to a LIVE account to officially trade and make profits.
